Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1897-03-13
MARTINsBURG. W. va. SATURDAY. MARCH ID. 1897.

can but prove beneficial to the entire
country
The question Of international BIZ
metallisn will have early and earnest
attention. Ii will be my constant en-
deavor to secure it BY cooperation
with the other great commercial
Powers OF the world.
Untilthat condition is realized, 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 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
Integrity Of its currency, and the in
volatility of its obligations must be
preserved. This will be the com
manding verdict of the people, and it
Will not De unheeueu.
Economy is demanded ia 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 expenditures.
But the present must not become
the permanent condition of the Gov
eminent.
1t has been our uniform practice to
| retire, not increase, our outstanding
Obligations, and this policy must
again be resumed and vigorously en-
forced.
| Our revenues should always be large
enough to meet with ease and prompt
ness not only our current needs, and
the principal and interestof the public
debt, bur to make proper auq 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.
The Government must not be per-
United to run behind, or increase its
debt, in times like the present. Suit
ably to provide against this is theman-
date of duty: the certain and easy
remedy for most Of our financial diff
culties.
A deficiency is inevitable solong as
the expenditures Of the Government
exceed its receipts. 1t can only be met
by loans, or an increased revenue.
While large annual surplus of
revenue may invite waste and extrav-
agance, inadequate revenue creates
distrust and undertnines public and
private credit. Neither should be en-
couraged.
Between more loans and more re-
venue, there ought to be bat one
opinion. We should have more re-
venue, and that without delay. hind
rance, or postponement.
A surplus in the Treasury created
by loans is not permanent or safe
reliance. 1t will suffice while it
lasts, but it cannot last long while
the OUTLAWS OF the Government are
greater than its receipts, as has been
the case during the past two years.
Nor must it be forgotten that, how
ever much such loans may temporari-
ly relieve the situation, the Govern
ment is still indebted for the amount
OF the surplus thus accrued, which 1t
must ultimately pay while its ability
to pay is not strengthened but weak
ened by continued deficit.
Loans are imperative in great
emergencies to preserve the Govern
ment or its credit, but failure to
supply needed revenue in time of
peace for the maintenance of either
has no justification.
The best way for the Government
to maintain its credit is to pay as it
goes-not by resorting to loans, but
by keeping out of debt-through an
adequate income ACQUIRED by system
of taxation, external or internal, or
both.
1t is the settled policy Of the Gov
eminent. pursued from the beginning
and practised by all parties and Ad-
ministrations, to raise the bulk Of our