The indicator., 1897-03-13

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 its
wisdom, shall deem 1t eNpcdient to
create commission to take under
early consideration the revision of our
coinage, banking and currency laws,
and give them that exhaustive, care
full and dispassionate examination
that the importance demands, | shall
cordially concur in such action. If such
power is vested in the President. it Is
my purpose TO appoint commission
of prominent. wcIl-informed citizens of
different parties who will command
public confidence both on account of
their ability and special fitness for the
work. business experience and public
training may thus be combined and the
patriotic zeal of the friends of the coun-
try be so directed that such a report
will he made as to receive the support
Of all parties and our finances cease to
be the subject of mere partisan con
tcntiun The experiment is, at all
events, worth trial, and, in my opin-
ion, II can but prove beneficial to the
entire community.
International Bimetaliism.
The question of International bi-
mctallism VIII have carly and earness
attention 1t Will he my constant en-
denvor to secure II by cooperation
with other great commercial powers of
the world, G'utll that condition is re-
allied when the parity between our
gold and silver money springs from
and Is supported by the relative value
Of The two metals. the value Of silver
alwu1y coined. and of that which here
after Wuy bc colurl. must be kept
constantly at par with gold by every
resource Ht our command. The credit
of the government the integrity Of its
currency, and the iuylolnbiHty Of its
obligations must be preserved. THIS
was The commanding verdict Of the
people and 1T win not be unhecded.
Economy Is demanded in every
branch of the government at all times,
but especially In periods Ike the pres
rut depression vi business and distress
among the people. The seyrrusl econ
nWy must be observed iu all public cN-
uuudi're and pNrJrag1uce stopped
wherever IN is found, ana prevented
wherever iu the future 1t may be de-
yrlupgd. II The revenues are 10 remain
ans now, the only relief that can come
must be from decreased expenditures.
Bu' the present must not become the
permanent condition Of tine govern
meut n has been our uniform prac-
rire to retire, not Increase our out
standing obligations, and this policy
must be again resumed and vigorously
enforced, Our revenues should al
ways be large enough to meet with
ease and promptucss not only our cur
rent needs and the principal and inter
est Of the public debt, but to make
proper and liberal provisions for that
most deserving body of public credi-
| tors, the soldiers and sailors and the
widows and orphans who are the pen
sioners OF the United States.
/ The government should not be per.
mitted 10 run behind or increase its
/ debt in times like the present. Suita-
[ bly, 10 provide against business is the
| mandate of duty, certain and easy rem
I edy for the most Of our financial diff
CultieS. A deficiency is inevitable so
| long as tho expenditures of the govern
| menl exceeds It's receipts. 1t can only
/ he met by loans or an Increased reve-
nue.. While n large annual surplus of
revenue may invite waste and extray-
/ agancc. inadequate revenue creates dis
| trust and undermincs public and pri-
vate credit Neither should be cncour-
aged. BetWecn more loans and more
revenue there ought to be but one
I opinion. We should have more reve-
nue., and that without delay, hindrance
or postponement. A surplus in the
| treasury created by loans is not a per-
| mauent or safe reliance. II will suffice
I while it lasts. but 1t 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. the govern
ment still is indebted for the amount
of the surplus thus accrued, which it
must ultimately pay. while it's ability
! to pay is not strengthened but weak
ened by continued deficit. Loans are
| Imperative in great emergencies to pre-
serve the government or its credit, but
a failure to supply needed revenue in
| time of peace for the maintenance of
either has no justification.
| Protect American Industries.
The best way for the government TO
! maintain Its credit IL to pay as 1t goes-
not by resorting to Ioans, but by keep,