The Owosso times. (Owosso, Mich.) 1897-1926, 1897-03-05

not forsake us as long as we obey his
commandment and walk humbly in his
| footsteps.
| The responsibilities of the high trust
to which 1 have been called-always of
grave importance-are augmented by
prevailing business conditions, entailing
| idleness upon willing labor and loss to
useful enterprises. The country is suf-
fering from Industrial disturbances from
which speedy relief must be had. GU,
| financial system needs 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, nor
| its stability to doubt or dispute. Our
currency should continue under the SUI
pervision of the government. The sew
eral forms of our paper money offer, in
my judgment. a constant embarrass-
ment to the government and safe bal
ance in the treasury. Therefore, 1 be-
lieve it necessary to devise a system
which, without diminishing the circu-
lating medium, or offering a premium
for its contraction, will present a rem
edy for those arrangements, which, tenn
porary in their nature. might we'll in
the years of our prosperity, have been
displaced 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 al nd
BILE temptations to speculate.
Outgrowth OF Experience.
Most of our financial laws are the
outgrowth Of experience and trial, and
should not be amended without investi-
CATION. and demonstration of the wis
dom of the proposed changes. We must
be both sure that we are right. and
make haste slowly" IT, therefore. con-
gress in its wisdom shall deem ii expe-
dent 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 their Importance demands, 1 shall
cordially concur in such action II such
power is vested in the president, it is
my purpose to appoint a commission of
prominent, well-informed citizens of
different parties who will command pub
Tic confidence both on account of their
ability and special fitness for the work.
Business experience and public train
ing may thus be combined, and the pa
triotic zeal of the friends of the coun-
try 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 con-
tention. The experiment Is. at all events.
worth trial, and, in my opinion, II IAN
but prove beneficial to the entire coun-
try.
The question of international bimetal@.
lism will have early and earnest atten-
ton. 1t will be my earnest endeavor
to secure IL by cooperation with the
other great commercial powers of the
world. Until that condition is realized,
when parity between our gold and sill
yer money springs from and is support
ed 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 govern
ment. the integrity of its currency. and
the inviolability of it's obligations must
ing verdict of the people and It will not
be unheeded.
Economy Must BE Observed.
Economy is demanded then In every
branch of the government at all times,
but especially in periods like the pres
ent depression of business and distress
among the people. The severest econ
omy must be observed i'm all public ex-
penditures, and extravaganza stopped
wherever IL is found and prevented
wherever in the future it may be de-
veloped. 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 government.
IL has been our uniform practice to re-
tire, not increase, our outstanding oh
legations, and this policy must again
be resumed and vigorously enforced.
Our revenues should always be large
enough TO meet with ease and prompt
ness 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 sail