The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1897-03-05
Country Should Be Placed in O
Condition to Pay as 1t
Goes.
Monetary Commission to Fix
Upon a Financial Scheme
Favored.
Reciprocity Principle Should Be
Re-established- . The For
eign Policy.

Following is the inaugural address
delivered by President Mckinley:
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 responsible duties of presi-
dent Of the United States, relying on the
support 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 favored the American
people in every national trial, and who
will not forsake Ms SO long as we obey His
commandments and walk humbly in His
footsteps.
Responsibilities Augmented.
The responsibilities of the high trust to
which have been called-always Of grave
importance-are .augme nted by the pre-
vailing business conditions, entailing idle
ness upon willing labor and loss to useful
enterprises. The country Is suffering from
industrial disturbances from which speedy
relief must be had. Our financial system
needs some revision; our money Is all good
now, but its value mnst not further be
threatened. 1t should all be put upon an
enduring basis, not subject to easy attack. :.
nor its stability to doubt or dispute. Our
currency should continue under the super
vision of the government. The several
forms OF our paper money offer, in my
judgment,
A Constant Emba rrassment
to the country and to a safe balance in the
treasury. Therefore, believe it necessary
to devise a scheme which, without dimin-
ishing the circulating medium or Offering
u premium for it's contraction, will pre-
- sent remedy for those arrangements,
which, temporary in their nature, might
well in the years of our prosperity been
displaced by wiser provisions With the
adequate revenue secured, but not until
then, we can enter upon such changes in
our fiscal laws as WILL while securing safe
ty and volume to our money, no longer
impose upon the government the neccssi.
ty of maintaining SO large gold reserve,
with it's attendant and Inevitable tempta-
tions to speculation.
Would Approve Commission.
Most of our financial laws are tho out
growth Of experience and trial, and should
not be amended without investigation,
and demonstration of the wisdom of the
proposed changes. We must be both sure
we are right, and make haste slowly
If, therefore, congress in it's wisdom shall
deem 1t expedient to create a commission
to take under early consideration the re-
visions of our coinage, banking and cur
rency laws, and give them that exhaust
i've, careful and dispassionate examination
that their importance demands, l shall
cordially concur in such action. If such
power is vested in the president, it is my
purpose to appoint a commission of prom
inent, well informed citizens of different
parties who
Will Command Public Confidence
both on account Of their ability and spe-
cial fitness for the work Business expe-
rience and public training may thus be
combined and the patriotic zeal of the
friends of the country be so directed that
such a report will be made rs to receive
the support of all parties, and our finances
cease to be the subject of mere partisan
contention. The experiment is at al
events, worth the trial. and, in my opin
ion, it can but prove beneficial to the on
tire country.
Intern ational Bimetalism.
The question of international bimetal
lism will have early and earnest atten
ton. 1t will be my constant endeavor tt
secure it by cooperation with the othel
great commercial powers of the world
. Until that condition is realized, when tn,
parity between our gold and silver money
springs from and Is supported by the rel
ative value of the two metals the value o
the silver already coined, and of tina
which may hereafter be coined
must be kept constantly a
par with gold by every resource
ernment, the integrity of it's currency an,
the inviolability of it's obligations mus
be preserved This was the commandin,
verdict of the people and it will not be un
needed.
Economy Is Demanded.
Economy is demanded in every brancl
of the government at all times, but es
pecially in periods like the present de
preston of business and distress amon
the people, the severest economy mus
be observed in all public expenditures
and extravaganza stopped wherever it i
found and prevented wherever in the fu
ture it may be developed. If the revenue
are to remain as now, the only relief tina
SIN come must be from dt
creased expenditures. But the presen
must not become the pernanen
condition Of the government. 1t has bee
our uniform practice to retire, not In
crease, our outstanding obligations, an
this policy must again be resumed an
vigorously enforced. Our revenue shoul
always be large enough to meet with cas-