Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1897-03-09
M'KINLEY'S ADDRESS
Remarks of the New President on
His Inauguration.
HIS POLICY is CLEARLY OUTLINED.
Business Interests Need Rclief-Re-
vised Financial System Necessary
-Plca for Protection - Extra

delivered by President Mckinley:
Fellow Citizens
In obedience to tho will of tho 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 conntrymen and invoking
the guidance of Almighty God. Our
faith teaches that there is no safer reliance
than upon the God of our fathers, who
hos SO singularly favored the American
people in every national trial, and who
will not forsake us 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 saugme nted by the pre-
vailing business conditions, cntailing 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 tho government. Tho several
forms of our paper money offer, in my
Judgment,
A Constant Enbarrassment
to the country and to a safe balance in the
treasury. Therefore, believe 1t necessary
to devise q scheme which, without dimin-
fishing the circulating medium OF Offering
premium for its 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 necessi-
ty of maintaining SO large gold reserve,
with its attendant and Inevitable tempta-
tions to speculation.
Would Approve . Cemmission.
Most of our financial laws are the 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"
II, therefore, congress in its wisdom shall
deem 1t cxpedicnt to create 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, shall
cordially concur in such action. If such
: power is vested in the president, it is my
purpose to appoint commission of prom
inent well informed citizens of different
parties who
Will Command Public Confidence
both on account of their ability and spe-
cinl fitness for the work Business expe-
riencc and public training may thus be
combined, and the patriotic zeal of the
friends of the country BIO SO directed that
such report will be made MS 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 the trial, and, in my opin-
ion, it can but prove beneficial to the on
tire country.
International Bimetalism.
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 supported by the rel
alive 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
par with gold by every resource
at our command. The credit of the gov
ernment, the integrity of It's currency and
the inviolability of its obligations must
be preserved. This was the commanding
verdict Of the people and it will not be un.
needed.
Economy L. demanded.
Economy is demanded in every branch
Of the, government at all times, but es.
pecially in periods like the present de-
preston of 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 flu.
ture it may be developed If the revenues
are to remain as now, the only relief that
can come must be from de
creased expenditures. But the present
must not become the permanent
condition of the government. 1t has beer
our uniform practice to retire, not in
crease, our outstanding obligations, ant
this policy must again be resumed ant
vigorously enforced. Our revenue should
always be large enough to meet with east
and promptness not only our current
needs, and the principal and interest O.
the public debt, but to make proper ant
liberal provision for that most deservin,
body of public creditors, the soldiers ant
sailors, and the widows and orphans VIII,
are the pensioners Of the United States.
Should Not Increase Its Debt.
The government should not be permit
ted to run behind or increase its debt il
times like the present Suitably to pro
vide against this is the mandate of duty
the certain and easy remedy for most o
our financial difficulties. A deficiency Il
Inevitable SO lona as the expenses Of tn
IeOvernment exceed its receipts. 1t cal
only be met by loans or on increased re,
jDnue. While large annual surplus {
revenue may invite waste and extzavt
vance, Inadequate revenue creates distrut
sslazA undermines public and private crodi
Neither should be encouraged. Betwee
more loans and more revenue there shout
b but one opinion.
We Should Have More Revenue,
and that without delay, hindrance {
postponement. A surplus in the treasur
created by loans is not permanent {
isafe reliance. It will suffice while it last
but 1T cannot last long while the outlay
lof the government are greater than its r
iceipts, as has been the case during the pm
two years. Nor must it be forgotten tn,
however much such loans may tempora
ily relieve the situation, the governmel
Z. " II still indebted for the amount of the su