Crawford avalanche. (Grayling, Mich.) 1879-19??, 1897-03-11

sponsib,e duties of President of the United
States. relying on the support of my coun-
trymen and invoking the guidance Of Al
mighty God. Our faith teaches that there
IL no sn fer reliance than upon the God OF
our fathers. who has so singularly favor
cd the American people In every national
trial and who win not forsake us SO long
IA We obey his commandments and walk
humbly in his footsteps. A.A.
The responsibilities of the high trust to
which have been called-always OF
grave .mportance-are augmented by the
prevailing business conditions, entailing
idleness upon willing labor and loss to use
full enterprises. The country Is suffering
from industrial disturbances from which
speedy relief must be had Our financial
system needs some revision; our money
IL MI good now. but its value must not
further be threatened. 1t should all be
put upon an enduring basis. not subject
"a easy attack. nor its stability to doubt or
dispute Our currency should continue
under the supervision of the Government.
The several forms of our paper money
oTer. inymy judgment, constant embar-
rassment to the Government and safe
balance in the treasury. Therefore, be-
lieye il necessary 10 devise system
which. without diminishing the circulat-
ing medium or offering a premium for Its
contraction. will present remedy for
those arrangements. which, Temporary In
their nature. might well in the years OF
our prosperity have been displaced by
wiser provisions.
With adequate revenue secured, but not
until then. can we 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 in
evitable temptations to speculation. Most
OF our financial laws are the outgrowth OF
experience and trial and should not be
amended without investigation and dem
oustration of the wisdom of the proposed
changes. We must be both sure we are
right and make haste slowly"
IT, therefore. Congress in its wisdom
shall deem il expedient TO create COM
mission TO take under early consideration
the revision of our coinage. banking and
currency Jaws. and give them that ex-
harstivr. careful and dispassionate exam
ination that their Importance demands,
shall cordially concur in such action. If
such power is vested in the President. it
prominent. well-informed citizens of diff
fcrent 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 country be so directed that
such a report will be made as to receive
the support of all parties and our finances
cease 10 be the subject of mere partisan
contention. The experiment is, at all
events. worth IL trial. and. in my opinion,
II can but prove beneficial to the entire
country.
International BIN ta1lism.
The question of international bimetal-
Gsm will have early and earnest attention.
il viii he my constant endeavor to secure
II by cooperation 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 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
constantly ut par with gold by every re-
source o. our command. The credit of the
Government. the integrity of its currency
and the inyiolability of its obligations
must be preserved. This was the COM
mandinG verdict of the people and il will
moi he UNDECIDED.
Economy is demanded in every branch
of the Government at all times, but espe-
cally in periods like the present depres-
sion of business and distress among the
people. The severest economy must be
observed in all public expenditures, and
extravag ance stopped wherever it is found
and prevented wherever in the future it
may be developed. If the revenues are to
remain as now, the only relief that can
come must be from decreased expendi-
lures. But the present must not become
the permanent condition of the Govern
mert. 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 case 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 per-
mitted TO run behind, or increase its debt,
In times like the present. Suitably to pro-
vide against this is the mandate Of duty;
the certain and easy remedy for most of
our financial difficulties. A deficiency is
inevitable so long as the expenditures of
the Government exceed its receipts. 1t
can only be met by loans, or an increased
revenue. While large annual surplus
of revenue may invite waste and extrava-
gance, inadequate revenue creates dis
trust, and undermnes public and private
credit. Neither should be encouraged.
Between more loans and more revenue,
there ought to be but one opinion. We
should have more revenue, and that with
out delay, hindrance or postponement. A
surplus in the treasury created by loans
Is not a permanent or safe reliance. 1t
will suffice while 1t lasts, but it cannot
last long while the OUTLAWS of the Govern
ment are greater than its receipts, as has
been the case during the last 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 it must ultimately pay,
while its ability to pay Is not strengthen
ed, but weakened, by a continued deficit.
Loans are Imperative In great emergen-
eies to preserve the Government or its
credit, but failure to supply needed
revenue in time of peace for the mainte-
nance of either has no justification.
Larger Revenues Necessary.
The best way for the Government to
maintain its credit Is to pay as 1t goes
not by resorting to loans, but by keeping
out Of debt-through an adequate income
secured by a system of taxation, external
or internal, or both. II Is the settled pol