The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1897-03-10
M'KINLEY'S INAUGURM(
THE PRESIDENT OUTLINES THE POL
ICY HE WILL PURSUE.

Deficit In the Treasury Must be Avoided
IfExpsnses Are Not Decreased Receipts
Must be Enlsrged-Monetary Commission
suggested-LynchlngsC Condemned.
WASHINGTON, March 4 The follow
ing is the full text of President Nc
Kinley's inaugural address:
Fellow citizens: In obedience to the
will of the people and in their presence
by the authority vested in me by this
cath, 1 assume the arduous and re-
sponsible 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 re-
lance than upon the God OF our tatn'
ers, who has so singularly favored the
American people in every national
trial and who will not forsake us so
long as we obey His commandments
and walk humbly in his footsteps.
The RESPONSIBILITIES of the high trust
to which I have been called-alWays
of grave importance-are augmented
by the prevailing business conditions,
entailing idleness upon willing labor
and loss to useful enterprises. The
country is suffering from industrial
disturbances from which speedy relief
must be had. Our financial system
needs some revision. Our money is
all good now, but its value must not
be further threatened. 1t should all
be put upon an enduring basis, not
subject to easy attack nor its stability
to doubt or dispute.
Our currency should continue un-
der the supervision of the govern
ment. The several forms of our paper
money offer, in my judgment, con-
slant embarrassment to the govern
ment and safe balance in the treasury.
Therefore, [ believe it necessary to de-
wise system which, without diminish
ing the circulating medium, or offer
ing a premium for its contraction
will present remedy for those ar
rangements which, temporary In their
nature, might we'll in the years of our
prosperity have been displaced by wis
er provisions. With adequate reve'
nue. secured, but not until then, we
can enter upon such changes IN our
fiscal laws as will, while ensuring
safety and volume to our money, no
longer impose upon the government
the necessity of maintaining so large
a gold reserve, with its attendant and
inevitable temptations to speculation.
Most of our fnancials laws are the
outgrowth of experience and trial and
should not be amended without inves'
tigation, and demonstration OF the
wisdom cf the proposed charges. We
must be both ''sure we are right" and
''make haste slowly" If, therefore,
Congress in It's wisdom shall deem II
expedient to create commission to
take under early consideration the re:
vision of our coinage, banking and
currency laws and give them that ex'
haustive, careful and dispassionate ex'
animation, that their importance de-
mands, I shall cordially concur in
such action. If such power is vested
in the President it is my purpose to
appoint a commission of prominent,
well.informed citizens OF different
parties who will command public CON
fidence both on account of their ablll'
ty and special fitness for the work.
Business experience and public train
ing may thus be combined and the pa
triotic zeal of the friends of the coun-
try be so directed that such a report
be made as to receive the support OF
all parties and our finances cease to be
the subject of mere partisan conten'
ton. The experiment. is, at all events,
woeth q trial and, in my opinion, II
can but prove beneficial to the entire
country.
The question ofinternational bimet
allism will have early and earnest
attention. 1t will be my constant en-
deayor to secure it by cooperation
with the other great commercial pow
ers of the world. Until that con
dition is resGzsd 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
that which may hereafter be coined
must be kept constantly at par with
gold bv every resource at our com
mand. The credit of the government
the integrity of its currency aud the
inviolability of its obligation must be
preserved. This was the common
verdict of the people and it will MT 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 it may
be developed. If the revenues are to
remain as now, the only relief that
can come must be from decreased ex
penditures. But the present must moi
become the permanent condition of the
government. It has been our uniform
practice to retire, not increase, our
outstanding obligations, and this poll,
cy must again be resumed and vigor.
ously enforced. Our revenues should
always be large enough to meet with
ease and promptness not only our cur
rent needs but the principal and inter-
est of the public debt, but to make
proper and liberal provisions for that
most deserving body OF public credi
tors, the soldiers and sailors and the
widows and orphans who are the pen.
sioners of the United States.
The government should not be per