The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-03-05
THE INAUGURAL ADDRESS.

] the president gives the greatest prom
inence to a discussion of the financial
! question, the same as he did in his
letter of acceptance. He speaks in
strong terms in favor of the mainte-
nance OF the present gold standard; al
/ least such is what we take to be the
proper Interpretation of his words:
our money is all good now but its
Vaiue must not be threatened" 1t is
also made plain that he is against the
revival of the state banking system,
Tor ne says: Our currency should
continue under the supervision of the
government All this was TO have
been expected. The most important
tnlnG in the address, so far as the
nna-neial question is concerned, is this:
If. therefore, congress in its wisdom,
l shaH deem it eXpedient to create a
commission to take under early con-
sideration the revision of our coinage,
banking and currency laws, and give
lnenl mat exhaustive, careful and dis
passionate examination that the i'm
portance demands, l shall cordially
concur IN such action. If such power
Is vested in the president, it is my pur-
pose 10 appoint a commission of prom
ent parties who will command public
confidence both on account of their
ability and special fitness for the work
BUSINESS experience and public train
ing may thus be combined and the pa
trlotlc zeal of the friends of the coun-
try be so directed that such a report
VIII he made as to receive the support
OF all parties and our finances cease to
De the subject of mere partisan con-
tention. The experience is, at all
events, worth trial, and in my opin-
ION, IL can but prove beneficial TO the
entire country.
That cannot fail to recommend itself
to what are generally known as the
financial interests, those interests
which control the money market and
capitalistic enterprises. If empowered
TO appoint such a commission, will the
president give due recognition to the
silver men, such men as Teller and
Bland? But perhaps he would not con-
slider that they commanded public con-
fidence.
What is said about international BIZ
metallism is simply perfunctory, and
indicates nothing at all. But the state
ment, referring to the time when inter-
national bimetallism shall be an ac-
complished fact: Until that condition
is realized when the parity between our
gold and silver money springs from it
and is supported by the relative value
of the two metals, the value of silver
already coined, and of that which here
after may be coined, must be kept con-
stantly at par with gold by every re-
source at our command can mean but
one thing, which is: That until there
is International bimetallism every form
of money issued by the United States
shall, upon the demand of the holder
thereof, be redeemable in gold coin;
and that this includes silver dollars as
well as gold notes and greenbacks. It
is the adoption of Secretary .Carlisle's
of the declaration of the
policy that all our kinds of money shall
be kept at par; nor is it by any means
a violent Interpretation to say that it
means bonds viii be sold to purchase !
gold to redeem silver dollars that they |
may be kept at par should any such |
necessity arise.
The necessity for economy is insisted |
upon. It is said that IF the revenues
are to remain as now, the only relief /
that can come must be from decreased /
But whether they re- /
main as now or not. there certainly |
should be decreased expenditures.
Nothing could be truer than this: |
that "a surplus in the treasury created
by loans is not a permanent safe re-
lance"
The president says the country is
clearly opposed to any needless addi-
tons to the subjects of internal taxa
ton. and is committed by its latest
popular utterance to the system of tar
If taxation" That is not so certain as
the statement is positive. Popular ut
-erance on the tariff system was not
nearly so pronounced as upon the
financial question; it was held in abey-
lnce aad never put prominently for
ward.
Considerable space is devoted to the
question of tariff revision. The presi-
lent says that business conditions are
lot the most promising. and that it viii
AXE time to restore prosperity. He
appears to have an implicit trust in the
'ower Of legislation to produce pros
1erity. at least such is the inference to
De drawn from this:
However troublesome the situation
nay appear, congress will not. am
sure. be found lacking in disposition
II ability to relieve as far as legislation
an do co. The restoration of conf
lence and the revival of business
which men of all parties so much de-
ire depends more largely upon the
prompt. energetic and intelligent action
# congress. than upon any other single
-gency that affects the situation.
It is trite saying: The least said
he soonest mended." and it might al
most be paraphrased thus: 1.-The less
egislation the sooner business condi-
ions viii mend"
Just what President Mckinley means
When he declares that "lynchings must
lot be tolerated. . it would be very hard
o say. Is it to be inferred that he Will
Use the power of the federal govern
nent TO prevent lynchings in the
tates? It has no such power under
be constitution. That lynchings should
lot be tolerated by the states is very ]
rue, and they are a disgrace to our
-hole country, but it is a disgrace the
ederal government has no power or
to wipe out. {
The declaration concerning trusts
-ill scarcely alarm them, while it will
ardly reassure the public.
It is very evident from what the
says about our naturalization I