The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1897-03-12
Country Should Be Placed in a
Condition to Pay as 1t
Goes.
Monetary Commission to Fix
Upon a Financial Scheme
Favored.
Reciprocity Principle Should Be
Re-eStabliShed- The For
eign Policy.

Following is the inaugural address
delivered by President Mckinley:
Fellow Citizens:
In obedience to the will of the people
and in their presence, by the authority
vested in me by this oath, l assume the
arduous and responsible duties of presi-
dent 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 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.
Responsibilities Augmented.
The responsibilities of the high trust to
which have been called-always of grave
importance-are augme nted by the pre-
vailing business conditions entailing Idle
ness upon willing labor and loss to USE III
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 it's value mnst 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. Orr
currency should continue under the super
vision of the government. The several
forms of our paper money offer, in my
Judgment,
A Constant Embarrassment
to the country and to a safe balance in the
treasury. Therefore, L believe it necessary
to devise scheme which, without dimin'
ishing the circulating medium or Offering
a premium for its contraction, will pre-
sent remedy for those arrangements,
which, temporary in their nature, might
well in the years of our prosperity been
displaced by wiser provisions. With the
adequate revenue secured, but not until
then, we can enter upon such changes in
our fiscal laws as will, while securing safe
ty and volume to our money, no longer
impose upon the government the necessi-
ty of maintaining so large a gold reserve,
with it's attendant and Inevitable tempta-
tions to speculation.
Would Approve a Commission.
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
proposed 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 commission
to take under early consideration the re-
visions of our coinage, banking and cur
rency laws, and give them that exhaust
i've, careful and dispassionate examination
that their Importance demands, shall
cordially concur in such action. If such
power is vested in the president, it is my
purpose to appoint commission of prom
inent, well informed citizens of different
parties who
Will Command Public Confidence
both on account of their ability and spe-
cial fitness for the work. Business expe-
rience and public 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 parties, and our finances
cease to be the subject of mere partisan
contention. The experiment is, at all
events, worth the trial. and, in my opin-
ion, it can but prove beneficial to the en-
tire country.
International Bimetalism.
The question of international bimetal-
lism will have early and earnest atten-
ton. 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 gola ana s1fver money
springs from and is supported by the rel
ative value of the two metals, the value OF
the silver already coined, and of that
which may hereafter be coined
must be kept constantly az
par with gold by every resource
at our command The credit of the gov
eminent, the integrity of it's currency and
the inviolability Of it's obligations must
be preserved. This was the commanding
verdict of the people and it will not be un.
needed.
Economy Is Demanded.
Economy is demanded in every branch
of the government at all times, but es
pecially in periods like the present de
preston 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 flu
ture it may be developed. If the revenues
are to remain as now, the only relief that
creased expenditures. But the present
must not become the permanent
condition of the government. 1t has beer
our uniform practice to retire, not in
crease, our outstanding obligations, and
this policy must again be resumed and
vigorously enforced. Our revenue 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
Should Not Increase Its Debt.
The government should not be permit
ted 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 oil
our financial difficulties. A deficiency is
inevitable so long as the expenses of the