Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1897-03-11

PRESIDENT MKINLEY'S
INAUGURAL ADDRESS.

~ Elbow Citizens: In obedience to
n the will of the people and in their
l. presence, by authority vested in me
by this oath, | assume the arduous and re-
sponsible 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
is no safer reliance than upon the God of
our fathers, who has so singularly favor
ed the American people in every national
trial and who will not forsake us so long
Jas we obey his commandments and walk
humbly in his footsteps.
The responsibilities of the high trust to
(which l have been called-always OF
grave importance-are augmented by the
prevailing business conditions, entalling
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
lis all good now, but it's value must not
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 judgment, constant embar-
irassment to the Government and safe
balance in the treasury. Therefore, be-
llieve it necessary to devise system
which, without diminishing the circulat-
Ing medium or offering premium tor ITS
contraction, will present remedy for
those arrangements, which, temporary IN
their nature, might we'll 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 it's attendant and in
evitable temptations to specul ation. Most
of our financial laws are the outgrowth of
experience and trial and should not be
amended without investigation and dem
onstration of the wisdom of the proposed
changes. We must be both sure we are
right and make haste slowly"
If therefore, Congress in Its wisdom
shall deem it eXpedient to create COM
mission to take under early consideration
the revision of our coinage, banking and
currency laws, and give them that ex-
haustive. careful and dispassionate exam
ination 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 commission of
prominent, well-informed citizens of diff
ferent 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
e. L l. tod hot
such a report will be made as 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 a trial, and, in my opinion,
it can but prove beneficial to the entire
country.
International Bimeta1lism.
The question of international bimetal-
lism will have early and earnest attention.
1t will be my constant endeavor to secure
it 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 at par with gold by every re-
source at our command. The credit of the
Government, the integrity of its currency
and the inviolability of its obligations
must be preserved This was the COM
manding verdict of the people and it will
not be unheeded.
Economy is demanded in every branch
of the Government at all times, but espe-
cially 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
extravaganza 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 eXpendl-
lures. But the present must not become
the permanent condition of the 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 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 it's 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 it's 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 undermines public and private
credit Neither should be encourage
Between more loans and more revenue,
there ought to be but one opinion. We
should have more revenue. and that with