The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-03-05

teaches that there is no safer reliance than
upon the God Of our fathers who has so
singularly favored the American people in
every national trial, and who will not forsake
us so long obey His commandments
and walk humbly in His footsteps.
The responsibilities Of the high trust to
whichCI have been called-afways of grave
importance-are augmented by the prevailing
business conditions, entailing idleness upon
willing labor and loss to useful enterprises.
The country is suffering from industrial dis
turbances, from which speedy relief must
be had. Our financial system needs some
revision our money is all good now, but its
value must not further be threatened. 1t
should all be put upon enduring basis, not
subject to easy attack nor its stability to
doubt or dispute. Our currency should con-
tinue under the supervision of the govern
ment The several forms of our paper money
offer, in my judgment, a constant embarrass-
ment to the government and to a safe bal
ance in the treasury. Therefore, i believe it
necessary to dvise system which, without
diminishing the circulating medium or offer
ing a premium for its contraction, will pre-
sent remedy for those arrangements, which,
temporary in their nature, might well in years
of our prosperity have been displaced by
wiser provisions. With adequate revenue Sc
cured but not until then, we can enter upon
such changes in our fiscal laws as will, while
insuring safety and volume to our money,
no longer impose upon the government the
necessity of maintaining so large a gold re-
serve, with its attendant and inevitable temp
tations to speculation.
Most of our financial laws are the outgrowth
of experience and trial, and should not be
amended without investigation and demon
stration of the wisdom of the proposed
changes. We must be both sure we are right,
and make haste slowly. If, therefore, con-
gress in its wisdom shall deem 1t eSpedient
to create a commission to take under early
consideration the revision of our coinage,
banking and currency laws, and give them
that exhaustive. careful and dispassionate ex-
animation that their Importance demands, /
shall cordially concur in such action. If
such power is vested in the president, 1t is
my purpose to appoint commission of
prominent well-informed citizens of differ
ent parties, who will command public conf
dence both on account of their ability and
special fitness for the work. Business ex-
combined and the patriotic zeal of the friends
OF the country be directed that such re-
port will be made 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 trial.
and, in my opinion, it can but prove benef-
cial to the entire country.
MONEY PROBLEM.
The question of international bimetalIism
Will have early and earnest attention. 1t will
be my constant endeavor to secure it by CO.
operation with the other great commercial
powers of the world. Until that condition is
realized, when the parity between our gold
and silver money springs from and is sup
ported by the relative value of the two
metals, the value of the silver already
coined and that which may hereafter be
gold by every resource at our command. The
credit of the government, the integrity Of
its currency and the inviolability of its obi
cations mbust be preserved. This was the
commanding verdict Of the people, and it will
not be unheeded.
Economy is demanded in every branch of
the government at all times but especially in
periods like the present depression of business
and distress among the people The severest
economy must be observed in all public ex-
penditures, and extravaganza stopped where
found prevented w in
the future 1T may be developed. If the rev.
enueS are to remain now, the only relief
that can come must be from decreased
penditures. But the present must not become
the permanent condition of the government
1t has been our uniform practice to retire
not increase, our outstanding obligations and
this policy must again be resumed and Wig
orously enforced Our revenues should al
ways be large enough to meet with ease and
promptness not only our current needs and
the principal and interest of the public debt
but to make proper and liberal provision for
that most deserving body of public creditors
the soldiers and sailors and the widows and
orphans who are the pensioners of the United
States.
The government should not be permitted
to run behind or increase its debt in times
like the present. Suitably to provide against
this is the mandate Of duty; the certain and
easy remedy for most of our financial diff
culties. deficiency is inevitable so long as
the expenditures Of the government exceed
its receipts 1t only be met by loans or
an increased revenue. While a large annual
surplus Of revenue may invite waste and ex-
travagance, inadequate revenue creates dis
trust and undermines public and private
credit Neither should be ENCOURAGED Be-
tween more loans and more revenue. there
ought to be but one opinion. We should have
more revenue, and that without DELAY. hind
rance or postponement
surplus in the treasury created nv
loans, is not permanent or safe reliance
1t viii suBce while 1t lasts, but 1t cannot
last long while the outlays of the government
ts as hac
case during the past two years. Nor must
it be forgotten that, however much such
loans may temporarily relieve the situation.
the government Is still indebted for the