Phillipsburg herald. [volume] (Phillipsburg, Kan.) 1882-1905, 1897-03-18


Office by Chief Justice Fuller, was as
follows:
yellow Citizens In obedience to the will
of the people and in their presence, by the
authority vested in me by this oath, l as
sumo the arduous and responsible duties Of
President of the United States, relying on
the support of my countrymen and invoking
the guidance of Almighty God. Our faith
teaches that there is no safer reliance than
upon the God of our fathers. who has so sim
gularly favored the American people In
every national trial, and who will not for
sake us so long as we obey His command
ments and walk humbly in His footsteps
"The responsibilities Of the high trust to
which l have been called always of grave
importance-arc augmented by the prevail
ing business conditions, entailing idleness
upon willing labor and loss to useful enter
prises The country is suffering from indus
trial disturbances from which speedy relief
must be had.
"Our financial system needs some revis-
ION our money is all good now, but its value
must not further be threatened. 1t should
all be put upon an enduring basis not SUBJ
ject to easy attack, nor its stability to doubt
or dispute Our currency should continue
under tha supervision OF the government
The several forms of our paper money offer,
In my judgment constant embar-
rassment to the government and a
safe balance in the treasury. Therefore
/ believe 1t necessary to devise system
which, without diminishing the circulating
medium or Offering premium for its con-
traction, will present remedy for those
arrangements, which, temporary in their
nature, might well in the years of our pros
perity have been displaced by wiser provis-
ions
For Currency Commission.
with adequate revenue assured, 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 gold reserve, with
its attendant and inevitable temptations to
speculation,
Most of our financial laws are the out
growth of experience and trial. snd should
not be amended without investigation and
demonstration of the wisdom of the pro-
posed changes We must be both sure we
are right and make haste slowly. If,
therefore Congre SIS In its wisdom shall deem
1t eXpedient to create a commission to take
under early consideration the revision of
our coinage, banking and currency
laws, and give them that exhaustive
careful and dispassionate examination that
the Importance demands, shall cordially
concur in such action. If such power Is
vested in the president, 1t Is my purpose to
appoint commission of prominent, we'll
Informed citizens of different parties who
will command public confidence both on
account of their ability and special 1T
ness for the work. Business experience
and public training may thus be combined,
and the patriotic zeal OF tho friends of the
,t,.,r1 In. hnk
will be made as to receive the support of all
parties, and our finances cease to be the
subject of mere partisan contention. The
experiments, at all events worth trial,
and, in my opinion, 1t can but prove bene-
hcla! to the entire country.
Credit Upheld Economy Urged.
1.-THE question of international blmetalism
will have early and earnest attention 1t
will be my constant endeavor to secure 1t
by cooperation with the other great COM
mercial powers of the world Until that
condition is realized when the parity be-
tween our gold and silver money springs
from and is supported by the relative value
of the two metals the value of silver al
ready coined, and of that which shall here
after be coined must be kept constantly at
par with gold by every resource at our COM
mand. The credit of the government the
integrity of its currency and the invlol-
ability of its obligations must be preserved.
This was the commanding verdict Of the
people and 1t will not be UNDECIDED
Economy Is demanded in every branch
OF the government at all times but cspe-
cially in periods like the present depression
of business and distress among the people
The severest economy must be observed In
all public expenditures and extravaganza
stopped wherever It is found, and prevented
wherever in the future 1t may be developed
If the revenues are to remain as now, the
only relief that can come must be from de
creased expenditures But the present mus
not become the present condition of the
government. 1t has been our uniform prac-
tlce to retire, not increase, our outstanding
obligations, and this policy must fam be re
sumed aad vigorously enforced.
Increase OF Debt Opposed.
"Qur revenues should always be large
enough 70 meet with case and promptnes
not only our current needs and the prlnci
pal and interest of the public debt, but t
make proper and liberal provisions for tina
most deserving body of public creditors tn
soldiers and sailors, and the widows and or
phans, who are the pensioners OF the Unite
States, The government should not be per
mitted to run behind or increase its deb
in times like the presenn. Suitably to pro
vide against business depression is tn
mandate of duty, certain and easy rem
edy for the most of our financial difficulties
A deficiency is inevitable so long as the ex
pendtures of the government exceed II
receipts 1t can only be met by loans or a
increased revenue. While large annua
surplus of revenue may invite waste an
extravaganza, inadequate revenue create
dstrust and undermines public and prtYat
credit Neither should be encouraged.
Between more loans and more revenue
there ought to be but one opinion. We shoul
have more revenue, and that without delay
hindrance or postponement surplus 1
the treasury created by loans is not pei
manent or safe reliance 1t will sufaV
while it lasts, but 1t cannot last long Will
the OUTLAWS of the government are create
than its receipts, as has been the case dun
ing the past two years. Nor must 1t be fol
gotten that however much such loans ma
temporarily relieve the situation the gov
eminent is still indebted for the amount {
the surplus thus accrued, which it must Il
timately pay, while its ability to pay is NJ
strengthened, but weakened, by continue
deficit Loans are imperative in gre;
emergencies to preserve the government {
its credit, but failure to supply needt
revenue in time of peace for the mainter
ance of either has no Justification
For Revenue and Protection.
"The best way for the government
maintain its credit is to pay as 1t goes-n
by resorting to loans but by keeping out
peterborough an adequate income secure
by a system of taxation, external or int
nal or both. 1t is the settled policy of Il
government, pursued from the beginnin
and practiced by all parties and admin