Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1897-03-04
we must be both sure we are right and
make haste slowly.
A CURRENCY COMMISSION.

@ we must De DOtn sure We are rlRn6 au
y make haste slowly.
g CURRENCY COMMISSION.
: Therefore if congress in its wisdom
. shall deem it expedient to create com
: mission to serve under an early consider
: alton of a revisal of our coinage, bankin,
and currency laws, giving them tina
exhaustive, careful and dispassionate ex
animation that their Importance demands
b shall cordially concur in such action, an
> if such power is vested in me, my purpos
| is to appoint commission of prominent
we'll informed citizens of different partie
l who will command public confidence
= both on account of their ability and thei
l special fitness for the work. Business ex
perience and public training may thus b.
i combined, and the patriotic zeal of friend
of the country, be SO directed that such re
. port be made as to receive the support O.
all parties and our finances will thus ceas,
. to be subject of mere partisan conten
tion. Experiment is worth trial and in my
opinion can prove but beneficial to the
entire ls-,untsy. International pimetallisn
will have early and earnest attention. II
will be my constant endeavor to secure il
| by co. operation with the other great com
mercial powers of the world until that
condition is realized when the parity be-
tween our gold and silver money springs
from, and ID supported by, relative value
of tine two metals.
SILVER AND GOLD AT PAR.
The value of silver already coined, and
that which hereafter may be coined, must be
kept constantly at par with gold by every
resource at our command. The credit Of the
government, the integrity of its currency,
and the inviolablity of its obligations
must be preserved.
This was the commanding verdict of
the people and it will not be unheeded.
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
our people. The strictest economy must
be observed in all public expenditures,
and extravaganza stopped wherever it is
found, and prevented wherever in the
future il may be developed. If the rev.
enues are to remain as now, the only re-
lief that can come must be from decreae
ed expenditures. But the present must
not become the permanent condition of
!
form practice to retire, not increase our
outstanding obligations, and this policy
must be again resumed and vigorously
enforced. Our revenues should always
be large enough to meet with ease and
promptness, not only our current needs
and the principal and interest of the
public debt, but should make a proper
and liberal provision for that most de-
serving body of public creditors, the SOL
diers and sailors, and widows, and or
phans, who are pensioners of the United
States.
EXPENDITURES OF GOVERNMENT.
The government should not be per-
mitted to run behind, or increase it's debt
in time like the present. deficiency
is inevitable so long as the expenditures
of the government exceed the receipts.
1t oan only be met by loans or increased
revenues, while large annual surplus
revenue may invite waste and extravs-
ganoe. made quate revenue creates dis
trust, and undermines public and private
credit. Neither SHOULD BE encouraged,
LOANS AND REVENUE.
Between more loans and more revenue,
there ought to be but one opinion. We
should have more revenue, and that with
out delay. Hindrance or the postpone
ment of surplus in the treasury created
by loans, is not permanent or safe re-
lance. II will suffice while it lasts, but
cannot last long, while the outlaYs of the
government are greater than its receipts,
as has been the case during the past two
years. Nor must it be forgotten, that
however much such loans may tempor-
arily relieve the situation of the govern
ment, still it is indebted for the amount
of surplus thus accrued, which it must
ultimately pay, while It's ability to pay is
not strengthened, but weakened, by a con-
tinued deficit. Loans are imperative in
great emergencies to preserve the gov
ernment or it's credit, but failure to sup
ply needed revenue in time of peace for
maintenance has no justification.
SHOULD PAY As IT GOES.
The best way for government to
maintain its credit is to pay as it goes,
not by resorting to loans, but by keep
ing out of debt, through adequate income
secured by systematic taxation, exter-
nal or internal, or both. It ia the settled
policy of this government, pursued from
the beginning, and practiced by all par
ties and administrations, to raise the
bulk of our revenue from taxes on for
eign productions entering the United
States for sale and consumption, and
avoiding for the most part every form of
direct taxation, except in time of war.
TARIFF TAXATION.
The country is clearly opposed to any
needless additions to subjects of inter
| national taxation, and is committed by
Its latest popular utteranoe to system of
tariff taxation. There can be no misun-
derstanding either, about the principle
upon which the tariff taxation shall be
levied, for nothing ever has been made
palmer at general election, than the
controlling principle in raising revenue
on imports, that Jealous care for Ameri-
can interests, and American labor is
wished.
PROTECTION TO OUR INDUSTRIES.
The people have declared that such
legislation should be had as will give
ample protection and encouragement to
our industries and evelopment of
our country, and ii is therefore earnestly
hoped and expected that congress will at
the earliest practicable moment enact
revenue legislation that will be fair, rea'
sonable, conservative and just, and which
will supply sufficient revenue for public
purposes and which at the same time will
be signally beneficial and helpful to every
section and every enterprise of our peo.
pie. To this policy We are all, of what
ever party, firmly bound by the voice of
the people-a power vastly more poten.
tial than the expression of any political
platform. The paramount duty Of con.
0ress is to stop deficiencies by the re-
storation of that protective legislation
which has always been the frmest prop