The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-03-05

teaches that there is no safer reliance than
upon the God of our fathers, who has so
singularly favored the American people in
every national trial. and who will not forsake
us SO long as we obey His commandments
and walk humbly in His footsteps.
The responsibilities Of the high trust to
which have been called-afways of grave
importance-are augmented by the prevailing
business conditions, entailing idleness upon
willing labor and loss to useful enterprises.
The country is suffering from industrial dis
turbances, from which speedy relief must
be had. Our financial system needs some
revision; our money is all good now, but its
value must not further be threatened 1t
should all be put upon an enduring basis not
subject to easy attack, its stability to
doubt or dispute. Our currency should con-
tinue under the supervision of the govern
ment. The several forms OF our paper money
Offer in my judgment, a constant embarrasS-
ment to the government and to a safe bal
ance in the treasury. Therefore, / believe it
necessary to dvise system which. without
diminishing the circulating medium or offer
ing a premium for its contraction will pre-
sent remedy for those arrangements, which,
temporary in their nature, might well in years
of prosperity have been displaced by
wiser provisions With adequate revenue Sc
cured but 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 impose upon the government the
necessity of maintaining so large a gold
serve, with its attendant and inevitable temp
tations to speculation.
of experience and trial, and should not be
amended without investigation and demon
stration of the wisdom of the proposed
changes. We must be both sure We are right,
and make haste slowly" If, therefore, con-
gress in its wisdom shall deem it eSpedent
to create a commission to take under early
consideration the revision of coinage,
banking and currency laws, and give them
that exhaustive, careful and dispassionate ex-
animation that their Importance demands, l
shall cordially concur in such action. If
such power is vested in the president, it is
my purpose to appoint a commission of
prominent, wel-informed citizens of differ
ent parties, who will command public conf
dence both on account OF their ability and
special fitness for the work. Business eX-
perience and public training may thus be
combined and the patriotic zeal of the friends
Of the country be so directed that such
port will be made to receive the support
of all parties, and our finances cease to be
the subject of mere partisan contention. The
experiment is, at all events, worth trial.
and, in my opinion, it can but prove benef-
cial to the entire country.
MONEY PROBLEM.
The question of international bimetallism
VIII have early and earnest attention. 1t will
be my constant endeavor to secure it by CO.
operation with the other great commercial
powers of the world. Until that condition is
realized, when the parity between our gold
and silver money springs from and is sup
ported by the relative value of the two
coined, and that which may hereafter be
coined must be kept constantly at par with
goid by every resource at our command. The
credit Of the government the integrity Of
its currency and the inviolability of fits obli-
cations mbust 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 especially in
periods like the present depression of business
and distress among the people. The severest
economy must be observed in all public ex-
penditures, and extravaganza stopped where
ever it is found and prevented wherever in
the future 1t may be developed. If the rev.
enueS are to remain as now, the only relief
that can come must be from decreased ex-
penditures But the present must not become
the permanent condition of the government
1t has been our uniform practice to retire
not increase, our outstanding obligations and
this policy must again be resumed and Wig
orouSly enforced. Our revenues should al
ways be large enough to meet with ease and
promptness not only our 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 the 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; the certain and
easy remedy for most of our financial diff
culties. deficiency is inevitable so long as
the expenditures of the government exceed
its receipts. 1t can only be met by loans mr.
an increased revenue. While a large annual
surplus Of revenue may invite waste and ex-
travagance, inadequate revenue creates dis
trust and undermines public and private
credit. Neither should be encouraged Be
tween more loans and more revenue there
ought to be but one opinion. We should have
more revenue, and that without delay, hind
rance or postponement
surplus in the treasury, created bv
loans, is not permanent or safe reliance.
1t will su1sce while 1t lasts but II cannot
last long while the OUTLAWS OF the government
are greater than its receipts, as has been the
case during the past two years. Nor must
II be forgotten that however much such
loans may temporarily relieve the situation.
the government Is still indebted for the