Hutchinson gazette. [volume] (Hutchinson, Kan.) 1895-1902, 1897-03-11
PRESIDENT M'KINLEYS
POLICY OUTLINED.
THE INAUGURAL ADDRESS.
Financial Reform and More Revenue
Urgently Needed-ProteotIon and
Reciprocity Strong
~ Favored - Immigration
Laws Need Improving
Extra Session.


Office by Chief Justice Fuller, was as
follows:
Fellow citizens: In obedience to the Win
of the people and in their presence, By the
authority vested in me by this oath, as
sumo the arduous and responsible 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 reliance than
upon the God of our fathers, who has so sim
gularly favored the American people in
every national trial, and who will not for
cake us so long as we obey His command
Nents and walk humbly in His footsteps
'The responsibilities of the high trust to
which have been called-always of grave
1mportance-are augmented by the prevail
Ang business conditions, entaillng idleness
Upon willing labor and loss to useful enter
prises The country is suffering from indus
trial disturbances from which speedy relief
must be had.
Our financial system needs some revIs-
1on; our money Is all good now but Its value
must not further be threatened. 1t should
all be put upon an enduring basis. not sub
ject to easy attack, nor its stability to doubt
or dispute. Our currency should continue
under tn. supervision of the government
The several forms of our paper money offer,
rassment to the government and a
safe balance In the treasury. Therefore
believe II necessary to devise a system
which, without diminishing the circulating
medium, or Offering premium for its con-
traction, will present a remedy for those
arrangements, which, temporary in their
nature, might we'll in the years of our pros
perity have been displaced by wiser provis-
ions
For q Currency Commission.
with adequate revenue assured, 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 tr al, snd 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 its wisdom shall deem
1t exDedient to create commission to take
under early consideration the revision Of
our coinage, banking and currency
laws, and give them that exhaustive
careful and dispassionate examination that
the imp ortance demands, 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
account of their ability and special 1T
ness for the work. Business experience
lNand public training may thus be combined,
and the patriotic zeal of the friends of the
country be so directed that such 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
experiments, at all events, worth trial.
and in my opinion, it can but prove bene-
dcial to the entire country.
Credit Upheld-Economy Urged.
1.-THE question of international blmetalsm
will have early and earnest attention It
will be my constant endeavor to secure It
by cooperation with the other great COM
mercial powers of the world. Until that
condition is realized, when the parity be-
tween our gold and sllvcrSmoney springs
from and is supported by the relative value
of the two metals, the value of silver all
ready coined, and of that which shall here
after 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 invloi-
ability Of its obligations must be preserved.
This was the commanding verdict of tho
people and II will not be unheeded
ECONOMY Is demanded In every branch
OF the government at all times, but espe-
cially in periods like the present depression
of business and distress among the people.
The severest economy must be observed in
all public expenditures and extravagance
stopped wherever 1t Is found and prevented
wherever in the future it may be developed.
II the revenues are to remain as now the
only relief that can come must be from de-
creased expenditures But the present must
not become the present condition of the
government It has been our uniform prac-
tlce to retire. not increase, our outstanding
obligations, and this policy must fain be re-
sumed and vigorously enforced.
Increase of Debt Opposed.
Our revenues should always be large
enough TO meet with ease and promptncss
not only our current needs and the princi-
pal and interest of the public debt, but to
kmake proper and liberal provisions for that
Anost deserving body of public creditors, the
soldiers and sailors, and the widows and or
phans, who are the pensioners of the United
States. The government should not be per-
mitted to run behind or increase its debt
in times like the presenn Suitably to pro-
vide against business depression is the
mandate of duty, certain and easy REM
edy for the most of our financial difficulties
deficiency is inevitable so long as the ex-
pendltures of the government exceed its
receipts It can only be met by loans or an |
increased revenue. While large annual |
surplus OF revenue may invite waste and |
extravaganza, inadequate revenue creates |
distrust and undermines public and private |
credit Neither should be encouraged
between more loans and mere revenue. |
there ought to be but one opinion. We should |
have more revenue, and that without DELAY. |
hindrance or postponement A surplus In |
tho treasury created by loans is not a per- |
manent or safe reliance. II will sufhce
while 1t lasts, but 1t cannot last lolg while
the OUTLAWS Of the government are greater
than its receipts, as has been the case dur
ing the past two years. Nor must II be for
gotten that however much such loans NAV
temporarily relieve the situation the gov
eminent is still indebted for the amount of
the surplus thus accrued. which it must ul-
timately pay while its ability to pay is not
strengthened, but weakened, by a continued
deficit Loans are imperative in great
emergencies to preserve the government or
its credit, but failure to supply needed
revenue in time of peace for the mainten-
ance of either has no Justification.
For Revenue and Protection.
THE best way for the government to
maintain its credit is to pay as it goes-not
oy resorting to loans but by keeping out Of
eot-through an adequate income secured
~ system of taxation. external or inter-
nal or both. It Is the settled policy of tho
government pursued from the beginning,
ana practiced by all parties and admins