The News-Herald. [volume] (Hillsboro, Highland Co., Ohio) 1886-1973, 1897-03-11
.M'KINLEY AND HOBART
Take Their Seats as President and
Vice President.
Mckinley, in His Inaugural Address Fa.
vors Moderate Tarin, and Urges
Speedy Action by the Senate on
the Arbitration Treaty-Extra
Session of Congress Called.

Garrett A. Hobart were ,naugurated as presi-
dent and vice president Of the United States
to-day at noon The oath OF once was ad-
ministered to Mr.. Mckinley by Chief Justice
Fuller after which the new president deliv-
cred his inaugural address. in part us follows:
Fellow Citizens: In obedience to the will Of
the people and in their presence, by the au-
thority vested in me by this oath, assume
the arduous and responsible duties Of presi-
dent OF the United States relying upon the
eupport OF my countrymen and invoking the
guidance OF Almighty God. Our faith teaches
that there is no safer reliance than upon the
God OF our fathers who has SO singularly ia
vored the American people in every national
trial, and who will not forsaKe us SO long as
We obey His commandments and walk hum
bly, in His footsteps
The responsibilities Of the high trust to
which I have been called-always OF grave
tmportance-are augmented b. the prevailing
business conditions, eutaillng tdleness upon
willing labor and loss to useful enterprises.
The country IL suffering industrial disturb
ances 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 on
IN enduring basis. not subject to
EASY attack. nor it's stability to
doubt or dispute. Our currency should con-
tinue under the supervision OF the govern
ment The several forms OF our paper money
oRer, In my judgment a constant embarrass.
u
the treasury. Therefore believe 1t neces-
sary to devise o system which. without di-
minishing the circulating medium. or Offering
premium for its contraction. will present
rsmedv for those arrangements which. tempo
rary In their nature, might we'll In
the years Of our prosperity have been dis.
p,sced by wiser provisions
Economy is demanded In every branch Of
the government at all times, but especially
In periods like the present Of depression In
f.s.ae nrA dfotrn oAv1A
The government should not be permitted to
run behind or increase Its debt In times like
the present Suitably to provide against this
present mandate Of duty the certain and easy
remedy for most of our financial difficulties.
A deficiency Is inevitable so long as the ex-
penditures Of the government exceed
its receipts. It can only be met by
loans, or an increased revenue. While large
annual surplus Of revenue may invite waste
and extravaganza. inadequate revenue creates
distrust 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, hindrance, or
postponemeut A surplus In the treasury
created by loans, 10 not permanent or safe
rslianoe II will sufice while II asts but II
oan not last long while the outlays Of the gov
srnment are greater than its receipts, % has
been the case during the past two years Nor
must Do IOrROtt6u, however WuCu buCu lO6uD
may temporarily relieve the situation
the governments is still indebted for the
amount Of the surplus accrued which II must
ultimately pay, while its ability to pay 10 not
strengthened, but weakened BY continued
dehcit Loans are imperative in great emer.
gsncies to preserve the government or its
credit, but failure to supply needed revenue
In time of peace for the maintenance Of either
has no justification.
The best way for the government to main.
tain its credit. is to pay as 1t goes--not by re-
sorting to loans, but by keeping out Of debt-
through an adequate income secured by q
), system Of taxation. external or internal, or
both 1t is the settled policy Of the govern
ment pursued from the beginning and prac-
tioed by all parties and administrations,
taxes upon foreign productions entering
the United States for sale and consump-
tion, and avoiding, for the most part, every
form Of direct taxation, except in time Of
war. The country Is clearly opposed to any
needless additions to the subjects of internal
taxation, and is committed by its latest pop
ular utterance to the system Of tariff taxa
ton There oau be no Misunderstanding.
either, about the principle upon which
this tariff taxation shall be levied.
Nothing has ever been made palmer
at general election than that the controlling
principle in the raising Of revenue from duties
on imports, Is Jealous care for American in
terests and American labor The people have
declared that such legislation should be had
as will give ample protection and encourage
ment to the industries and the development
of our country It Is therefore earn
estly hoped and expected that con-
sress will, at the earliest prac-
tical moment enact revenue legislation that
shall be fair, reasonable. conservative and
just, and which, while supplying sufficient
revenue for public purposes.g will still be sig
nslly beneficial and helpful TO every section,
and every enterprise OF the people To this
policy we are all. ofwhatever party. firmly
bound by the voice Of the peoples
the expression Of any political
platform. The paramount duty OF con.
gress is to stop deficiencies by the restoration
Of that protective legislation which has al
ways been the frmest prop OF the treasury
The passage OF such q law or laws would
ut home and abroad, and go far towards stop
ping the drain upon the gold reserve
held foy the redemption Of our currency which
has been heavy and well-nigh constant fol
several years.
In the revision of the tarin especial atten.
tion should be given to the re-enactment ant
extension of the reciprocity principle OF the
law OF 1890. under which so great stimulus
was given to our foreign trade in new and ad
vantageous markets for our surplus agricul
tdral and manufactured products the brie
trial given this legislation amply justifies {
further experiment and additional disc cretion.
sry power in the making of commercial trea.
ties, the end in view always to be the opening
Of new markets for the products OF our coun
try, by granting concessions to the products
Of other lands that we need u nd can not pro
duce ourselves, and which do not involve any
loss OF labor to our own people, but tend tt
increase their employment
1t Is inspiring too, to remember that M
great emergency In the 1903 years of our event
full national life, has ever arisen, that has moi
been met with wisdom and courage by the
American people with fidelity to the best in
terests and highest duty and to the honor o
the American name These years O
glorious history have exalted man
kind and advanced the caus,
of freedom throughout the world and immeas
ureably strengthened the precious free insti
tutions which we enjoy. The people love ant
will sustain these institutions The great es
sential to our happiness and prosperity Il
that we adhere, to the principles on which thu
government was established and insist upoI
Nha{r fait ft,l oha Enualitv of