Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-03-05

growth OF experience and trial, ana
should not be amended without investiga-
ton. 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 Wis
dom shall deem It expedicnt TO create
commission TO take under its early con-
sideration the revision OF our coinage
banking. and currency laws. and give
them that exhaustive. careful, ana us
passionate examination that their I'M
portance demands, I shall cordially con-
cur i'm such action. If such power u
vested In the President. Il IS my purpose
70 appoint a commission Of prominent
woll-informed citizens. OF dinereht
parties, who will command pubic CON
ndence. both on account OF their ablilty
and their special fitness for the "orh'
Business experience and public training
NAV thus be combined. and the patriotic
zeal OF the friends OF the country De SO
directed that such report VIII be maze
as to receive the support OF all parues'
and our finances cease to be the subject
Of mere partisan contention. The expert
ment Is, at al events. worth trlal' anu
I'm my opinion. Il can but prove benehciai
TO the entire country.
INTERNATIONAL BIMETALLlSM.
"The question Of international bimetai-
lism will have early and earnest atten-
ton 1t Will be my constant endeavor TO
secure II by cooperation with the other
great commercial powers or the world
Until that condition is realized when the
rarity between our gold and silver money
springs from and is supported by the re-
latlve value OF the two metals, the Nalue
OF the silver already coined ana OF thaI
which NAV hereafter be coined must be
Ia ct y gold
rosource nj our command. The credit OF
the government. the integrity OF its cur
rencv. and the inviolablity OF It's obliga-
tions must be preserved. This was the
commanding verdict of the people, ana IL
Will not be unheeded.
"Fconomv IS demanded in every branch
of tho Government at all times. but espe-
clallv i'm periods like the present OF de-
preston I'm business and distress among
the people. The severest economy must
be observed in all public expenditures
and extravaganza stopped wherever II Is
found and prevented whenever in the fu-
ture il may be developed. If the reVe-
nues are to remain as now, the only re-
lief that can come must be from de-
creased expenditures. But the present
must not become the permanent condition
of the Government. IL has been our uni
from practice 20 retire, not increase our
o,,tstapdirg obligations. and this policy
,,,,,et AGAIN he resumed and vigorously en-
forced. Our revenues should always DE
large enough TO meet with ease anu
promptness not only our current needs
and the principal and interest Of the pub
lie debt. but TO make proper ana hDeral
provision for that most deserving BODY or
bublic creditors. the soldiers and sailors
and the widows and orphans, who are
the PENSIONERS of the United states. Inc
,,o,,ernrnent should not be permitted 10
run behind or increase its debt In times
like the present Suitably to proVloe
against this is the mandate of duty. the
certain and easy remedy Tor most Oh our
financial difficulties y deficiency Is III
evjtable 50 long as the expenditures Oh
tba Government exceed its receipts. II
can only be met by loans or an increased
revenue. While 70 large annual surplus
Of revenue may invite waste and extrava-
eorce Inadequate revenue creates distrust
and undermines public and private credit
Neither should be encouraged. Between
more loans and more revenue there ought
IN he but one opinion. We shouid nave
more revenue. and that without delay
hindrance or postponement. surplus
IN the Treasury. created by loans IS not
"a Dermanent or safe reliance. III Will SUI
fee while il lasts, but it cannot last long
while the OUTLAWS of the government are
Greater than its receipts, as has been
tbe case during the past two years; nor
must II be forgotten that. however much
s,,cb loans may temporarily relieve the
situotion the government is still indeDt-
"a for the amount of the surplus thus ac-
crued which 1t must ultimately pay,
while ability to pay it is not strengthened,
but weakened. by a continued dencit.
Loans are imperative in great emergeh-
cies TO preserve the government or It's
credit but a failure 10 supply needed
revenue in time of peace for the mainte-
nance of either has no justification. The
hest way for the government to main
tain its credit is TO pay as It goes not
Inv resorting TO loans but by keeping out
Of debt. through an adequate income Sc
cured by a system of taxation, external
or internal, or both.
TARIFF PROTECTION.
.Tt is the settled policy of the govern
mont pursued from the beginning, and
Dracticed by all parties and administra-
.ions 10 raise the bulk of our revenue
from taxes upon foreign productions
entering the United States for sale and
consumption, and avoiding, for the most
nart every form of direct taxation, ex-
cent in time of war. The country Is
clearly opposed to any needless additions
IN the subjects of internal taxation, and
is committed by its latest popular utter
ance 10 the system of tariff taxation.
There can be no misunderstanding, either,
about the principle upon when TINS tarll
TAXATION shall be levied. Nothing has
ever been made palmer at a general
election than that the controlling prlnci-
nile i'm the raising of revenue from duties
ON iroports is jealous care for Ameri
can interests and American labor The
neople have declared that such legisla-
lion should be had as will give ample
protection and encouragement to the in
dustries and the development Of our
country. 1t is, therefore, earnestly hoped
| and expected that Congress viii, at the
earliest practicable moment, enact reve'
nue. legislation that shall be fair, rea-
sonable. conservative, and just and
which. while supplying sufficient revenue
for public purposes, will still be signally
! beneficial and helpful to every section
! and every enterprise Of the people
ITO this policy we are all, of whatever
party. frniA bound by the voice of tbs
/ people. a power vastly more potential
/ than the expression of any political plat
/ form. The paramount duty of Congress
| is to stop deficiencies by the restoration
| Of that protective legislation which has
always been the firmest prop of the
! Treasury The passage Of such law,
| or laws. would strengthen the credit OF
! the government. both at home and abroad
and 20 far toward stopping the drain
/ upon the gold reserve held for the re-
! demption Of our currency, which has been
/ heavy, and well-nigh constant for several
| years.
RECIPROCITY.
/ 'In the revision of the tariff, especial at
/ tention should be given 10 the
re-enactment and extension Of the
reciprocity principle law Of 1880
/ under which 50 great stimulus
was given to our foreign trade, in new
| and advantageous markets for our surplus
agricultural and manufactured products.
/ The brief trial given this legislation amply
] justihes a further experiment. ana ad-