Evening star., 1897-03-04
THE INAUGURAL ADDRESS.
Mr.. Mckinley Announces His Admin
istrnti0n's Policy.

Fellow Citizens: In obedience to the will
of the people and in their presence by the
authority vested in me by this oath, l as |
sumo the arduous and responsible duties of
President of the United States. relying on
the support of my conntrymen and invok-
ing the guidance of Almighty God Our
faith teaches that there is no safer reliance
than upor the God Of sour fathers, who has
SO srgularly favored the American people
iii evecy national trial, and who will not
forsake us so long as we obey His COM
mandments and walk. humbly in His foot
steps.
The responsibilities Of the high trust 10
which l have been called-always of grave
importance-are augmented by the prevail
irg business conditions, entailinS idleness
Upon willing labor and loss to useful enter
rrises The country is suffering from in
dustrial disturbances from which speedy
relief must be had. Our financial system
reeds some revision. our money is all good
now, but its value must not further be
threatened. 1t should all be put upon an
enduring basis, not subject to easy attack !
hor its stability to doubt or dispute. Our |
currency should continue under the super
vision of the government The several
forms of our paper money offer, in my
judgment, constant embarrassment to the
ury. Therefore I believe it necessary de-
wise system which, without diminishing |
the circulating medium. 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 dis |
placed by wiser provisions. With adequate
revenue secured; but not until then. We can
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 a gold reserve with its attendant
and inevitable temptations to speculation
| Most of our financial laws are the out
growth of experience and trial and should
| not be amended without investigation and
| demonstration of the wisdom of the pro-
| posed changes. We must be both sure we
| are right and make haste slowly" If
| therefore. Congress in it's wisdom shall
| deem it eXpedient to create a commission
to take under early consideration the re-
| vision of our coinage. banking and cur
! rency laws, and give them that exhaustive,
| careful and dispassionate examination 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. we'll
| informed citizens of different parties, who
| Will command public confidence both on. ac-
| count Of their ability and special fitness
for the work. Business experience and pub
| lie 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 par
ties, and our finances cease to be the sub
| ject of mere partisan contention. The eX-
reriment is, at all events, worth a trial
and, in my opinion, 1t can but prove bene-
fetal to the entire country.
Internnt tional BimetallisIn.
The question Of ipterna tional bimetallsm
| will have early and earnest attention. 1t
| will be my constant eadeavor to secure it by
cooperation with the other great CONNER
cial powers of the world. Until tha. cons
! dition is realized when the parity bet Ween
| 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 resource at our COM
mand. The credit of the government the
| integrity of its currency, and the inviola-
bility of its obligations must be preserved.
, 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 present of depression in
, business and distress among the people.
: The severest economy must be observed in
5 all public expenditures, and extravagance
I stopped wherever tits found, and prevented
| wherever in the future it may be developed
! If the revenues are to remain as now, the
e only relief that can come must be from
| decreased expenditures. But the present
must not become the permanent condition
2 OF the government 1t has been our uni
| form practice to retire, not increase, ou,
standing obligations and this policy mus
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 princ.-
= pal and interest of the public debt but tc
make proper and liberal provision for tha,
n most deserving body of public creditors
e the soldiers and sailors and the widows
= and orphans who are the pensioners OF
r ! the United States.
d The government should not be permitted
t to run behind, or increase its debt. in time.
$ like the present Suitably to provide
e against this is the mandate of duty: the
e certain and easy remedy for most of oul
= financial difficulties. A deficiency is newt
government exceed its receipts 1t can onl,
be met by loans, or an increased revenue
While large annual surplus of revenu,
e may invite waste and extravaganza, made
d quate revenue creates distrust and under
+ mines public and private credit. Neithe
should be encouraged. Between more loan
. and more revenue there ought to be bu
II one opinion. We should have more rev
enue, and that without delay, hindrance O.
.r | postponement. A surplus in the treasur,
,s | created by loans is not permanent or saf
. reliance. 1t will suffice while 1t lasts but
!" cannot last long while the outlays of tn
government are greater than its receipts
te as has been the case during the past tw
years. Nor must it be forgotten that how
o. ever much such loans may temporarily re
rs lieve the situation. the government Is still
N indebted for the amount of the surplu
~ thus accrued which 1t must ultimately pa,
n while its ability to pay Is not strengthened
r. but weakened by continued deficit Loan
q are imperative in great emergencies to pre
n serve the government or its credit, but
ar failure to supply needed revenue in tim
Of peace for the maintenance of either ha
al | no justification.
y, Tariff Revision.
~ The best way for the government =