Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1897-03-05
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THE ADDRESS.
Words Which viii Be Heard
Around the World.
Outline Of the Policy Of the New Re-
publican Administration.
The Greeting Of vice. President Hobart 10
Members Of Senate.

The following is the inaugural ad-
dress of President Mckinley and the
address of Vice President Hobart to the
senate, at Washington, March 4, 1897:
Fellow-Citizens. In obedience to the
will of the people, and in their presence
by the authority vested in me by this
oath, l assume the arduous and respon-
'ible duties of President of the United
States. relying on the support of my
countrymen and invoking the guidance
of Almighty God. Our faith teaches us
that there is no safer reliance than upon
the God of our fathers, who has so singu-
iarly favoreN the American people in ev-
cry national trial. and who will not for
sake us so long as we obey his command
ments and walk humbly in his footsteps
The responsibilities of the high trust
to which l have been called-always of
grave importance-are augmented by
the prevailing business conditions, en-
failing idleness upon willing labor ana
loss to useful enterprises. The country
is suffering from Industrial disturb
ances. from which speedy relief must be
had. Our financial system needs some
revision: our money is all good now, but
IlS value UluSt HOl ne threatened.
1t should all be put upon an enduring
basis. not subject to easy attack. nor its
stability to doubt or dispute. Our cur
rency should continue under the super
vision of the government. The several
forms of our paper money offer, in my
Judgment, constant embarrassment to
the government. and to a safe balance
in the treasury. Therefore, I believe it
necessary to devise a system which.
without diminishing the circulating me-
dunn or offering premium for its con-
traction, will present remedy for these
arrangements, which, temporary in their
nature, might well, in the 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 finance laws
as will. while insuring safety and volume
to our money, no longer impose upon the
necessity of maintaining so large a gold
reserve. with its attendant and inevita-
BILE temptations to speculation. Most OF
cur financial laws are the outgrowth OF
experience and trial. and should not be
amended without investigation and dem
onstraton of the wisdom of the pro-
are right" and make haste slowly"
IF, therefore, congress, in it's wisdom.
shall deem it expedient to create a COM
mission to take under early considera-
ton the revision of our coinage, bank
ing and currency laws. and give them
that exhaustive. careful and dispassion
ate examination that their choice de-
r,ands, I shall cordially concur in such
action. If such power is vested in the
president, it is my purpose to appoint
a commission of prominent, well-in
formed citizens of different parties, who
will command public confidence. both on
account of their ability and special fit
ness for the work. business experience
and public training may thus be COM
bined, and the patriotic zeal of the
friends of the country be so directed thai
such report will be made as to receive
the support of all parties, and our finan
res cease to be the subject of mere par
tisan contention. The experiment is, at
all events, worth trial. and in my opin
ion, it can but prove beneficial to the en-
tire country.
The question of international bimetal
lism will have early and earnest atten
ton. 1t will be my constant endeavor
to secure it by cooperation 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 of that which may hereafter
be coined, must be kept constantly at
va, wit srnlI ut
command. The credit Of the govern
ment. the integrity of its currency and
the inviolability of its obligation must
he preserved. This was the command
ing verdict of the people, and it will not
be unheeded.
Economy is demanded in every branch
of the government at all times, but es-
recially in periods like the present of de
preston in business and distress AMONG
the people. The severest economy must
be observed in all public expenditures
and extravaganza stopped wherever it is
found, and prevented wherever in the
future it may be developed If the rev
enues are to remain as now. the ONLY re
lief that can come must be from de-
creased expenditures. But the present
must not become the permanent condi-
ton of the government. 1t has been our
uniform practice to retire, not increase
our outstanding obligations. and this
policy must be resumed, and vigorouslv
enforced. Our revenues should alwav.
he large enough to meet with ease and
Dromptness not only our current needs
and the principal and interest of the puh-
lie debt, but to make proper and liberia
provision for that most deserving bod,
OF public creditors-the soldiers and the
sailors and the widows and orphans who
are the pensioners OF the United States