Iron County register., 1897-03-11

per money offer, in my Judgment constant
| balance in the treasury. Therefore I
believe il necessary to devise q system which,
without diminishing the circulating medium. or
! offering premium for its contraction, will pre-
sent remedy for those arrangements which.
| temporary in their nature. might well in the
wiser provisions With adequate revenue Sc
! cured, but not until then, We can enter upon
| ensuring safety and volume to our money, no
| longer impose upon the government the necesst-
y OF min tanning SO large gold reserve, with
| speculation Most Of our financial laws are the
outgrowth Of experience and trial, and should
not be amended without investigation and
the proposed changes. We must
4oSa haste slowly theFefora Congress sf3 IN
| its wisdom shall deem i eXpedient to Great
the revision Of our our Coinage, banking and cur cur
rency laws, and give them that exhaustive, care
full and dispassionate examination that their
| Importance demands, shall cordially concur In
| such action If such power is vested IN the
| president. it Is my purpose to appoint q commits
| sion Of prominent, well-informed citizens OF
| different parties who will command public con-
fdcnce both on account Of their ability and spe-
| and public training may thus be combined, and
| the patriotic zeal of the friends Of the country
as to receive the support Of all parties, and our
finances cease to be the subject of mere partisan
contention. The experiment is, at all events,
worth a trial, and in my opinion Ii can but prove
beneficial TO the entire country.
| The question of international bimetallism
will have early and earnest attention. 1t will
/ be my constant endeavor to secure it by CO.
| operation with the other great commercial
Poff PoTers OF 5S MO- tnSI , n15 as -
| silver money springs from and is supported by
/ the relative value Of the two metals-the value
| of the silver already coined and of that which
may hereafter be coined, must be kept constant
ly at par with gold by every resource at our COM
tesrity of its currency and the invioiabiiity Of
| Its obligations must be preserved This was the
commanding verdict Of the people, and it VIII
not be unheeded.
| Economy is demanded in every branch Of the
government at all times, put especially IN pc
/ and distress among the people. The severest
| economy must be observed in all public expen-
dttures and extravaganza stopped whenever 1t
is found and prevented wherever, in the future.
| 1t may be developed. II the revenues are to re-
| main now the only relief that can come must
be from decreased expenditures But the pres
ent must not become the permanent condition
Of the government 1t has been our uniform
practice to retire not to increase, our outstand-
| ing obligations. and this policy must again be
ease and promptness not only our current needs
and the principal and interest Of the public debt,
vision for the most deserving body OF public
creditors, the soldiers and sailors, and the wild
ows and orphans. who are the pensioners OF the
| United States. The government should not be
permitted to run behind or increase its debt, In
| against this is the mandate of duty-the GER
| tain and easy remedy for most OF our financial
| C11Cult1eS. A 0enc1ency Is 1neV1CaDlS so long
as the expenditures of the government exceed Its
| receipts. 1t can only be met by loans or an in
crease of revenue While large annual sur
| plus may create vast extravaganza. made
Quate revenue creates disaster and undermineS
| public and private credit. Neither should be
| encouraged. Between more loans and more
| opinion. We should have more revenue.
and that without delay, hin6raRce: t6e nee. OF
| created by loans. is not permanent or safe re-
lance. It will sufnce while it lasts, but it can
| uOtI IaOt Of
ment are greater than its receipts, has been
| the case during the past two years. Nor must
temporarily relieve the situation, the govern
| ment is still indebted for the amount of the
| surplus thus accrued which 1t must ultimately
pay, which its ability to pay is not strengthened
but weakened by continued deficit. Loans
| the government or its credit, but a failure to
| supply needed revenue in time OF peace for the
| maintenance of either has no Justification;
The best way for the government to maintain
| its credit is to pay 1t goes-not by resorting
to loans. but by keeping out Of debt-through
| an adequate income secured by system OF
taxation. external internal. or both. 1t is the
settled policy Of the government, pursued from
| the beginning and practiced by an parties and
revenue from taxes upon foreign prodr ct1ons
| sumption, and avoiding for the most part, every
| form Of direct taxation. except in time of war.
The country is clearly opposed to any needless
and is committed by its latest popular utter
sRce to the system of tarifI taIattOn nttOD
either, about the principle upon which this tarif
taxation shall be levied. Nothing has ever been
made palmer at a general election than that the
controlling principle in the raising Of revenue
from duties on imports, Is a Jealous care for
people have declared that such legislation should
be had will give ample protection and en-
couragement to the industries and the develop
ment of our country. 1t is therefore earnestly
hoped and expected that congress will, ct the
| earliest practical moment. enact revenue legis-
lation that shall be fair, reasonable, conserve
tive and just and which, supplying sufficient
revenue for public purposes, will still be signaNy
beneficial and helpful to every section, and
every enterprise of the people. To this policy,
we are all, of whatever party, firmly bound by
the voice Of the people-a power vastly more
potential than the expression of any political
platform. The paramount duty of congress is
to stop deficiencies by the restoration OF that
protective legislation which has always been
the 1rmest prop of the treasury. The passage
OF such law or laws would strengthen the
abroad, and go far towards stopping the drain
upon the gold reserve held for the redemption
OF our currency which has been heavy and we'll
nigh constant for several years.
In the revision OF the tariff, special attention
should be given to the re-enactment and extern
sion Of the reciprocity principle OF the law OF
1890. under which so great stimulus was given
to foreign trade in new and advantageous
featured products. The brief trial given this
legislation amply justitieS q further experiment
and additional discretionary power in the max
ing OF commercial treaties. the end IN view al
ways to be the opening up Of new markets for
the products of our country, by granting con-
cesSions to the products of other lands that we
need and can not produce ourselves, and which
do not involve any loss of labor TO our people,
but tend to increase their employment
The depression of the past four years has
fallen with especial severity upon the great
body OF toilerS of the country, and upon none
more than the holders Of small farms Agri-
culture has languished and labor suffered The
revival of manufacturing will be relief to
both. No portion Of our population is more de-
voted to the institutions of free government,
nor more loyal to their support, while none
bears more cheerfully or fully its proper share
in the maintenance OF the government, or is bet
ter entitled to its wise and liberal care and pro-
lection Legislation helpful to producers is
tfon OF industry on the farm and in the
ability Of the people to meet the demands upon
them. and they rightfuliy expect that not only
system Of revenue shall be established that
viii secure the largest income with the least
decrease rather than increase, our public ex-
penditureS.
ing. 1t will take time to restore the prosperity
of former years II we not promptly attain
IT, we can resolutely turn our faces in that di-
rection and aid its return by friendly legfsla-
ton. However troublesome the situation may
appear, congress will not, I sure, be found
lacking in disposition or ability to
relieve it, as far as legislation can do The
restoration Of confidence and the revival Of
business which men of all parties so much de-
sire. depend more largely upon the prompt en-
ergctic and intelligent act OF congress than
upon any other single agency affecting the situ-
alton.
It is inspiring, zoo. TO remember that no great
emergency in the one hundred and eight years
Of our eventful national life has ever arisen,
that has not been met with wisdom aad courage
by the American people. with fidelity to their
best interests and highest destiny and the
honor of the American name. These years OF
glorious history have exalted mankind and Rd-
vanced the cause OF freedom throughout the
cious free institutions which we enjoy. The peo-
pie love and will sustain these institutions The