Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1897-03-11

from manuscript. In discussing the
fiscal situation he said:
THE country is suffering from in
dustrial disturbances from which
speedy relief must be had Our tinan-
cial system needs some revising. Our
money is all good now, but its value
must not further be threatened. 1t
should al be put upon an enduring
basis and not be subject to any attack
nor its stability put in doubt or dis
pGte. Our currency should continue
under the supervision Of the govern
meEt. The several forms Of our pa
per money offer, in my judgment, a
constant embarrassment to the treas
ury. Therefore, ! believe 1t necessary
to devise a system which, without
diminishing the circulating medium or
offering a premium for it's contraction,
will present a remedy for those ar
engagements which, temporary in their
nature, might we'll in years of our
prosperity have been displaced by wiser
provisions. With adequate revenue
secured-but not until then-We can
enter upon such charges in Gus fiscal
laws as will, while irsuring safety and
volume to our money, no longer i'm
pose upon the government the necessi-
ty of maintaining large gold reserve.
with its attendant and inevitable Temp
tatiOns to speculation. If congress IN
its wisdom shall deem it eXpedient to
create a commission to take under ear
ly consideration our coinage, banking
and currency laws and give them that
exhaustive, careful and dispassionate
Investigation their Importance de-
mands, l shall cordially concur in
such action. If such power is vCstei
in the president, it is my purpose to
appoint commission of prominent
and well-informed citizens of different
PARTIES, who will command public con-
fidence, both on account Of their abili-
ty and special fitness for the Wo;k. The
question of international bimetallism
will have my earnest attention and
it will be my constant effort to secure
it by cooperation with the other great
commercial powers of the world
In concluding his discussion Of mon
SIelI 41CIILC1o IAIC PANSIhCdC L liC
credit of the government, it's integri-
ty, its currency and inviolabili,y, its
obligations, must be preserved. This
was the commanding verdict Of the
people and will not be unheeded."
Turning to the revenue question he
said: ''The best way for the govern
ment to maintain its credit is not BY
To Io,1+ NV
of debt through an adequate income
secured by a system OF taxation, exter-
nal or internal, or both. 1t is a Sc
tied policy of the government, pur-
sued from the begirning and prac>
ticed by all parties and administra
tions, to raise the bulk of our revenue
from taxes upon foreign productions
entering the United States for sale
and consumption, and avoiding for the
most part every form of direct taxa
ton, except in time OF war. The coun-
try is clearly opposed to any needless
additions to the subjects for internal
taxation and is committed by its latest
popular utterance to a system of tariff
taxation. There can be no misunde~-
standing either about the principle
upon which this tariff. taxation shall
be levied. Nothing has ever been made
palmer at a general election than that
the controlling principle in raising
revenue on imports is the Jealous care
for American interests and American
labor. The people have declared such
legislation should be had as will give
ample protection and encouragement to
the industries and the development OF
our country. It is, therefore. earnest
ly hoped and expected that congress
will at the earliest practicable moment
enact revenue legislation that shall be
fair, reasonable, conservative, just and
which, while supplying sufficient rev.
enue for public purposes, will still be
signally beneficial anG helpful to every
section and every enterprise of the
people. To this policy we all, of what-
ever party, are firmly bound by the
voice of the people, power vastly more
potential than the expression of any
political platform. The paramount
duty of congress is to stop Deficiencies
by a restoration of that protective leg
islation which has always been the
f1rmest prop Of the treasury. The pas
sage of such a law or laws would
strengthen the credit of the govern
ment both at home and abroad and go
far towards stopping the drain upon
the gold reserve held for the redamp-
ton of our currency, which has been
heavy and well-nigh constant for sew
erai years. In the revision Of the tar
if especial attention should be given
to the re-enactment and extension OF
the reciprocity principle of the law Of
1890, unde' which so great a stimulus
was given to our foreign trade in the
advantage of our markets for our sur
plus agricultural and manufactured
products. The brief trial given by
this legislation amply justifies the
further experiment and additional dis
cretionary power in r1eking commercial
treaties with the end in view always
tC the opening up of lew markets for
the products Of our country by grant
ing concessions to products Of other
lands that we need and cannot produce
ourselves, and which do not involve
any loss Of labor to cur own people, but
tend to increase their employment.
Continuing the president spoke of the
weight with which the financial stress
has borne on the farmers always will
ing supporters Of the government-and
the duty Of congress to frame legisla-
ton, which shall not Cypress them. He
also pointed out that the present bust
ness conditions are not the most prom