Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1897-03-11

further be threatened. 1t should all
be put upon an enduring basis. not
subject to easy attack, nor it's stability
TO doubt or dispute. Our currency
should continue under the supervision
of the government. The several forms
of our paper money offer. in my iudg-
ment. constant embarrassment to the
government and safe balance 10 the
treasury. Therefore, l believe it neces.
sary to devise system which, without
diminishing the circulating medium or
offering a premium for its contraction,
will put remedy for the arrangements
which, temporary IN their nature,
might well in the years of our pros
perity have heen displaced by wiser
provisions. With adequate revenue
secured, hut not until then, we can
enter upon such changes in our fiscal
laws as will, while insuring safety and
volume to our money, no longer I'M
pose upon the government the neces.
sity Of maintaining SO large gold
reserve, with its attendant and in
evitablo temptations to speculation.
Most of our financial laws are the
Jutgrowth of experience aud trial, and
should not be amended without investi
cation and demonstration OF the Wis
dom of the proposed changes. We must
be both "sure we are right and
mako haste slowly" II, therefore,
Congress in its wisdom shall deem it
expedient to create commission tn
take under early consideration tho re.
vision OF our coinage, banking and
currency laws, and give them that ex-
haustive, careful and dispassionate ex-
animation that their importance de.
mands, l shall, cordially concur in such
action. If such power IL vested in
tho President, it ia my purpose to
appoint commission Of prominent,
woll-informed citizens OF different
parties, who will command public con.
tidence, both on account OF their
ability and special fitness for the work.
Business experience and public train
ing may thus be combihed. and the
patriotic zeal OF the friends of the
country be SO directed that such a
report will be made as will receive the
support Of all parties. and, our finances
cense to be the subject of mers partisan
contention. The experiment is, at all
events, worth a trial and. in my
opinion, it can but prove beneficial to
the entire country.
INTERNATIONAL BIMETALLISM.
The question OF international bime.
tallism will have early and earnest
attention. 1t will BIO my constant
endeavor to secure 1t by CO operation
with the other great commercial powers
of tho world. Until that condition is
realize which the parity between our
gold and silver money springs from, and
iE supported by the relative value of
the two metals, the value of the silver
already coined and of that which may
hereafter be coined, must be kept con
stantly at par with gold. by every
resource at our command. The credit
OF the government, the integrity of its
currency, and the inviolability of it's
obligations must be preserved. This
was the commanding verdict of the
people and it will not be UNDECIDED.
SEVERE ECONOMY DEMANDED.
Economy is demanded in every
branch of the government at all times,
hut especially 10 periods like the
present of depression 10 business and
distress among the people. The severest
economy must be observed in all public
expenditures and extravaeance stopped
wherever it is found, and prevented
wherever in the future II may be de-
veloped. II the revenues are to re-
main as now, the only relief that can
come must he from decreased expendi-
lures. But the present must not become
the permanent condition of tho govern
ment. 1t has been our uniform practice
to retire, not increase, our outstanding
obligations, and this policy must again
be resumed and vigorously enforced.
Our revenues should always be large
enough to meet with ease and prompt
ness not only cur current needs, and
the principal and interest of the public
| debt, but to make proper and liberal
provision for that most deserving body
of public creditors. the soldiers and
sailors and their widows and orphans,
who are the pensioners of the United
States. The government should not be
permitted to run behind, or increase
its debt, in times like the present.
Suitably to provide against this is
the mandate of duty and the certain
and easy remedy for most of our finan-
cial difficulties. A deficiency is in
| evitable 30 long as the expenditures of
the government exceed its receipts.
1t can only be met by loans or an in
creased revenue. While large annual
surplus of revenue may invite waste
| and extravaganza, inadequate revenue
creates distrust and undermines public
and private credit.
Mother should it be encouraged.
Between more loans and more revenues
there ought to be but one opinion.
We should have more revenue. and
that without delay, hindrance or post
ponement. A surplus in the treasury
created by loans, is not permanent or
safe reliance. 1t will suffice while it
lasts, but it cannot last long while the
OUTLAWS of the government are greater
than it's receipts, as has been the case
during the past two years. Nor must
it be forgotten that however much such
loans may temporarily relieve the
situation, the government is still in
debted for the amount of the surplus
thus accrued. which il must ultimately
pay, wniie it's. ability to pay is not
strengthened, but weakened by cor
tinued deficit. Loans are imperative
in great emergencies to preserve the
government or its credit, but failure
to supply needed revenue in time OF
peace for the maintenance of either
has no justification.
PROTECTIVE TARIFF FAVORED.
The best way for the government to
maintain its credit, ia to pay as it eoes
mot by resorting to loans, but by
keeping out OF deht--through an ade-
| qunte income secured by system OF
taxation, external or internal, or both.
| 1t is the settled policy of tho govern