The Roanoke times. (Roanoke, Va.) 1897-1977, 1897-03-05
THE NEW PRESIDENT.
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vision oil our coinage, banking and cur
rency laws. aud give them that exhaustive
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 II commission of
prominent, wellinfOrmed citizens of
different parties, who will command pub.
lie confidence both on account OF their
ability and special fitness for the work
business experience and public training
may thus be combined and the patriotic
zeal of the friends of the country he so
directed that such IL report will be made
aus to receive the support of all parties
ana our finances cease to be the subject
OF mere PARTISAN contention. The exper-
lmcht IS, ut all events, worth II trial
and, in my opinion, it can but prove
beneficial to the entire country.
The question of international bimetal
ilsn VIII have chrly and earnest atten-
zion. 1t will be my constant entleayor to
secure IL by cooperation with the other
great commercial powers of the world.
Until that condition is realized when the
parity between our gold and silver money
springs from and is supported by the re-
lttive value of the two metals, the value
OF the silver already coined, and OF that
which may hereafter be coined, must he
kept constantly ut par with gold by every
the Government, the integrity of its cur
rcncy and the inviolabilty OF it's obliga-
items must be preserved. This was the
commanding verdict OF the people and it
will not be unheeded. Economy l., de-
mandcd in every branch of the Govern
mcnt at all times, bat espccmly i'm
periods Ike the present of depression in
business and distress among the people
The seve'est economy must be observed
al II. -.
gancc stopped wherever it IS found and
prevented wherever in the future it NAV
he developed. If the revenues are to
remain as now the only relief that can
come must be from decreased expendi
lures. But the present must not become
the permanent condition of the Govern
ment. 1t has been our uniform practice
to retire, not increase, our outstanding
obligations and this policy must again be
resumed and vigorously enforced Our
revenues should always he large enough
To meet with ease and promptness not
only our current needs and the PRINCIPAL
anG interest Of the public debt, but to
make proper and liberal provision 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 permit.
times like the present. Suitably TO pro-
vide against this is the mandate of duty:
the certain and easy remedy for most of
our financial difficulties. A deficiency is
inevitable so long AS the expenditures of
the Government exceed it's receipts. IT.
can only be met by means of increased
revenue. While IL large annual surplus of
revenue may invite waste and cXtraya-
.sance. inadequate revenue creates dis.
Neither should he encouraged
Between more loans and more revenue
there ought to he but one opinion We
should have more revenue and that with.
out delay and hlndrance or postpone-
ment. y surplus in the treasury created
by loans is not permanent or safe ex-
pertinent. 1t will suffice while it lasts
But it cannot last long while the outlaws
OF the Government are greater than its
receipts, rs has been the case during the
past two years Nor must it be forgotten
that however much loans may temporari
~ relieve the situation the Government is
still indebted for the amount of the sur
plus thus accrued which il must ultimate
~ pay. while its ability to pay is not
strengthened but weakened by r CON
tinucd deficit. Loans are imperative in
great emergencies to preserve the Govern
inent or its credit, buta failure to supply
maintenance of either has 30 justicn-
ton.
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
secured by system of taxation, external
or internal, or both. 1t is the settled
policy OF the Governments. pursued from
the beginning and practiced by all par
ties and administrations, to raise the bulk
OF our revenue from taxes upon foreign
productions entering the United States
for sale and consumption, and avoiding
for the most part, every form OF direct
taxation, except in time of war. The
country is clearly opposed to any need.
less additions to the subjects of internal
taxation and is committed by it's latest
popular utterance TO the system of tariff
taxation. There can he no misunder
standing either about the principle upon
which this tariff taxation Shall be levied
Nothing has ever been made palmer nc n
general election than the controlling
principle in the raising Of revenue from
duties on imports, and jealous care for
American interests and American labor
The people have declared that such lcgis.
lation should he had as will give imple
protection and encouragement TO the in
''ustres and the development of cur
country 1t is therefore earnestly hoped
ana expected that Congress will at the
earliest practicable moment enact revenue
legislation that shall be fair, reasonable
conservative and just, and which, while
supplyin" sufficient revenue for public
purposes will still oe signally beneficial
and helpful: to every section ana every en-