The news & observer., 1897-03-05
President MeKinley's
inaugural Address,

c;as To r,reserye the government or Its
credit, but failure to supply needed rev.
enue in time of peace for the madnten-
ance of either has no justification.
PAY AS YOU Go.
The best way for the government to
maintain its credit is to pay rs 1T goes
not by resorting TO loans, hut by keeping
out OF debt through an adequate income
secured by a system of taxation, exter-
nal or internal. or both. 1t is the set
tied policy of the government, pursued
from the beginning and practiced by all
parties and administrations TO raise the
bulk OF our revenue from taxes upon for
eign productions entering the United
States for sale and consumption; and
avoiding for the most part every form
OF direct taxation, except in time of war.
NO MORE INTERNAL TAXES.
The country is clearly opposed to any
needless additions to the subjects OF
Internal taxation and is committed by its
latest popular utterance to the system
of tariff taxation. There can be no
misunderstanding, either about the prln-
ciple upon which this tariff taxation shall
he levied. Nothing has never been made
palmer at a general election than that
the controlling principle in the raising
of revenue from duties on imports is
Jealous care for American interests and
American labor. The people have de-
clared that such legislation should be had
as win give ample protection and en-
couragement to the industries and the de-
velopment of our country. 1t is, there
fore earnestly hoped and expected that
Congress will at the earliest practicable
moment, enact revenue legislation that
shall be fair, reasonable, conservative
and just and which, while supplying
sufficient revenue for public purposes
will still be signally beneficial and
helpful to every. section and every en-
terprise of the people. To this policy we
are all, of whatever party, firmly bound
by the voice of the people, power
vastly more potential than the expression
of any political platform. The para
mount duty of Congress is to stop de-
ficiencies by the restoration of that pro-
tective legislation which has always been
the firmest prop of the Treasury. The
passage of such law or laws would
strengthen the credit of the government
both at home and abroad and go far
/ SlOEIttlE
reserve held for the redemption of our
currency which has been heavy and well
nigh constant for several years.
RECIPROCITY ESPOUSED.
| In the revision of the tariff, especial
attention should be given to the re-en-
actment and extension of the reciprocity
principle of the law of 1890, under which
SO great a stimulus was given to our for
4 eign trade in new and advantageous mar
kets for our surplus, agricultural and
manufactured products. The brief trial
given this legislation amply justifies a
| further experiment and additional dis
cretionary power in the making Of COM
mercial treaties, the end in view always
to be the opening up Of new markets
for the products of our country by
granting concessions to the products Of
other lands that we need and cannot
produce ourselves and which do not in
yolve any loss of labor to our own peo-
pie, but tend to increase their employ.
ment.
HELP FOR THE FARMERS.
The depression of the past four years
has fallen with especial severity upon
the great body Of toilers of the country
and upon none more than the holders
of small farms. Agriculture has Ian
guished and labor suffered. The revival
of manufacturing will be a relief to both,
No portion of our population is more de-
voted to the institutions of free govern
ment, nor more loyal in their support,
while none bears more cheerfully or fully
its proper share in the maintenance OF the
government or rs better entitled to its
wise and liberal care and protection
Legislation helpful to producers is bene>
fetal to ALL The depressed condition of
industry ON the farm and in the mine
land factory has lessened the ability Of the
lpeople to meet the demands upon them
and they rightfully expect that not only
a system Of revenue shall be established
that will secure the largest income with
the least burden, but that every means
will be taken to decrease, rather than
increase our public expenditures.
BAD BUSINESS CONDITIONS.
Business conditions are not the most
promising 1t will take time to restore
THE prosperity Of former years. If we cam
mot promptly attain it we can resolutely
turn our faces in that direction and aid
Its return by friendly legislation. How
pear, Congress will not, am sure, be
found lacking in disposition or ability to
relieve it as fast as legislation can do so.
The restoration of confidence and the
revival of business which men of all par
ties so much desire, depend more largely
upon the prompt, energetic and intelligent
action of Congress, than upon any other
Isingle agency affecting the situation.
PEOPLE DEVOTED TO LIBERTY
1t is inspiring, too, to remember that
no great emergency in the one hundred
and eight years of our eventful national
life, has ever arisen that has not been
met with wisdom and courage by the
American people with fidelity to their
best interest and highest destiny and
to the honor of the American name.
These years of glorious history have ex'
alted mankind and advanced the cause
of freedom throughout the world and
immeasurably strengthened the precious