San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1897-03-04

Fellow citizens: In obedience to
the will of the people and intheir pres
ence by the authority vested in me by
this oath, | assume 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 singularly favored the Ameri
can people in every national trial and
who will not fOrsake us as long as 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 augment
ed by the prevailing business condi-
tons entailing idleness upon willing
labor and loss of useful enterprise.
The country is suffering from indus
trial disturbances from which speedy
relief must be had. Our financial Sys-
TEN needs some reviSiOnS; our money
is 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 its stabili-
"
should continue under the supervision
of the government. The several forms
of our paper money offer, in my iudg-
ment. constant embarrassment to
the government and a safe balance
in the treasury. Therefore, | be-
lipve it necessary TO devise system
which, without diminishing the circu-
lating medium. or offering premium
for its contraction, will present a rene
dy for those arrangements, which tenn
pOrary in their nature. might well in
the years of our prosperity have been
displaced by wiser provisions. With
adequate revenue secured, not until
then. we can enter upon such changes
in our financial laws as will, while in
surfing safety and volume to our mon
ey, no longer impose upon the govern
ment the necessity of maintaining so
large a gold reserve, with its attend
ant and inevitable temptations to
speculation. Most of our financial
laws are the outgrOwth of experience
and trial and should not be amended
without investigation and demonstra-
ton 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 a
commission to take under early con-
SideratiOn the revision of our coinage
| banking and currency laws, and give
| them that exhaustive, careful and dis
passionate examination that their i'm
pOrtancc demands. | shall cordially
concur in such action. If such, hOwev-
or, is vested in the president, it is my
purpose to appoint commission of
prominent. well-infOrmed citizens of
both parties. who will command public
confidence. both on account of their
ability and special fitness for the work.
Business experience and public train
ing may thus be combined and the
patriotic zeal of the friends of the
country be so directed that such a re-
port would be made as TO receive the
support of all parties, and our tinan-
CeS cease to be the subject of mere
partisan contention. The experiment
is, at all events, worthy a trial and in
my opinion it can be but prove bene-
fetal TO the entire country.
The question of international BIZ
metalliSm will have early and earnest
attention. 1t will be my constant en-
deavOr to secure it by cooperation
with the other great commercial pow
erS of the world. Until that condition
is realized when the parity between
our gold and silver money brings
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 resource at our command.
The credit of the government, the in
tegrlty of its currency and the inviO-
liability of its obligations must be pre-
served. 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 pres
ent of depression in business and dis
treSS among the people. The SevereSt
economy must be observed in all pub
lie expenditures and extravaganza
stopped wherever it is found, and pre-
vented 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 reduced eXpen-
ditures. But the present must not be-
come the permanent condition of the
government. 1t has been our uniform
practice to retire, not increase our
outstanding obligations, and this pol
Icy must again be resumed and Wig
OrOusly enforced. Our revenues
should always be large enough to
meet with ease and promptness not
only our current needs and the prin-
cipal and interest of the public debt,
but to make proper and liberal pro-
visions 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-
mittnh To RIM hnhind or increase IFS