The National tribune. [volume] (Washington, D.C.) 1877-1917, 1897-03-11
TIE. INAUGURAL ADDRESS.
President Mckinley Stands International Bmam Increased Tariff
Revenues Arbitration Instead Of War, and Civil Service Reform

People
authority vested in me ny this oath, assum
the arduous and responsible duties of Presiden
of the United States relying on the support Q
my countrymen, and invoking the guidance Q
Almighty God. Our faith teaches that there
no safer reliance than upon the God OF on
fathers, who has so singularly favored Tn
American people in every National trial, ant
who will not forsake us SO long as we obey III
commandments and walk humbly in His foot
steps,
The responsibilities of the high trust to which
] have been cailed-always of grave importance
ARE augmented by the prevailing bushes
conditions, entailing idleness upon willing labo
and loss TO useful enterprises. The country j
suffering from industrial disturbances from
which speedy relief must be had Our financia
system needs some revision; our money is al
good now, but its value must not further b'
threatened. 1t should all be put upon all en-
during basis, not subject to easy attack, nor 1T
stability TO doubt dispute. Our currenc,
should continue under the supervision OF the
Government. The several forms of our paper
money offer, in my Judgment, constant EN-
barrassment to the Government and safe
balance in the Treasury. Therefore believe
it necessary to devise system which, without
diminishing the circulating medium, or offer
ing premium for its contraction, will present
remedy for those arrangements which, tenn
porary in their nature, might well 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 insur-
ing safety and volume to our money, no longer
impose upon the Government the necessity oil
maintaining so large gold reserve, with Its
attendant and inevitable temptations to specu-
lation. Most of our financial laws are the out
growth of experience and trial. aud should not
be amended without investigation, and demon
r. r ot.nv,fv
We must be both "sure We are right" and
make haste slowly" If, therefore, Congress, in
Its wisdom shall deem it expedient to create a
Commission to take under early consideration
the revision of our coinage banking, and cur
rency laws, and 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 a
commission of prominent well-informed cltl-
zens of different parties, who will command
public confidence, both on account of their
ability and special fitness for the work. B1s-
ness experience and public training may thus
be combined and the patriotic zeal of the friends
of the country be so directed that such report
VIII 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 trial, and. in my
opinion, it can but prove beneficial to the entire
country.
INTERNATIONAL BIMETALLIsM.
The question of international bimetallism
will have early and earnest attention. 1t will
be my constant endeavor to secure it by CO.
operation 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 relative value of the two metals, the value
- -1x-<~ RI IL. 81.
may hereafter be coined must be kept con-
etantly at par with gold by every resource at
our command The credit of the Government,
the integrity of its currency, and the inviola-
bility of its obligations must be preserved.
This was the commanding verdict of the people,
and it will not be unheeded.
Economy is demanded in every branch of the
Government at all times but especially in
periods like the present of depression in bust
ness and distress among the people. The Sc
verest economy must be observed in all public
expenditures and extravaganza stopped wher-
ever it is found, and prevented 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 condi-
tion of the Government. 1t has been our uni
form practice to retire. not increase, outstand-
ing obligations and this policy must again be
resumed and vigorously enforced. Our rev.
enues 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 pub
lie creditors. the soldiers and sailors and the
widows and orphans who are the pensioners of
the United States.
The Government should not be permitted to
ran behind or increase its debt in times like
the present Suitably 10 provide against this
is the mandate of duty the certain and easy
remedy for most of our financial difficulties.
deficiency is inevitable long as the expend-
1tures OF the Government exceed its receipts.
1t can only be met by loans or an increased
revenue. While large annual surplus of rev.
enue may invite waste and extravaganza mad
equate revenue creates distrust and undermines
public and private credit. Neither should be
encouraged. Between more loans and more
revenue there ought to be but one opinion. We
should have more revenue, and that without
delay, hindrance or postponement. sur
plus in the Treasury created by loans is not
permanent or safe reliance. 1t will suffice
while IL lasts, but it cannot last long while the
ontlays OF the Government are greater than its
receipts. as has been the case during the past
two years. Nor must il be forgotten that. how
ever much such loans may temporarily relieve
the situation, the Government is still indebted
for the amount of the surplus thus accrued
which it must ultimately 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 a failure to supply needed rev.
enue in time Of peace for the maintenance of
either has no justification.
AN ADEQUATE INCOME.
The best way for the Government to main
tain its credit is to pay as it goes-not BY re-
sorting to loans, but by keeping out of debt
through AL adequate income secured by a sys-
tenn of taxation, external or internal. or both.
II is the settled policy of the Government. pur-
sued from the beginning and practiced bv all
parties and Administrations, to raise the bulk
OF our revenue from taxes upon foreign pro-
auctions entering the United States for sale
and consumption, and avoiding for the most
every form OF direct taxation, except in time
OF war. The country is clearly opposed TO any
needless additions TO the subjects of internal
taxation, and is committed by its latest popular
There can be no misunderstanding, either.
about the principle upon which this tariff
taxation shall be levied. Nothing has ever
been made palmer at general election than
that the controlling principle in the raising of
revenue from duties on imports is jealous care
for American interests aud American labor
The people have declared that such legislation
should be had as will give ample protection
and encouragement to the industries and the
development of our country. II is, therefore.
earnestly hoped and expected that Congress
Will, al the earliest practicable moment, enact
revenue legislation that shall be fair reason
able, conservative, aud inst, and which while