Vilas County news. [volume] (Eagle River, Vilas County, Wis.) 1896-1927, 1897-03-08
INAUGURAL ADDRESS.
President McKinley's Speech
on Taking the Oath.
Announces that He will Call Special
Session.


Fellow Citizens: In obedience to the will
of the people and in their presence, by the
authority vested in me by this oath, L as.
sumo the arduouS and responsible duties OF
President of the United States, relying on
the support of my countrymen and lnVok-
ing the guidance of Almighty God Our
faith teaches that there is safer reli-
ance than upon the God of our fathers,
who has so singularly favored the Amer
lean people in every national trial and VINO
will not forsake us so long as we obey HIS
commandments and walk humbly III HIS
footsteps.
The responsibilities of the high trust to
which | have been called-always of grave
impOrtance-are augmented by the prevail
ing business conditions, entailng idleneSS
upon willing labor and loss to useful enter
prises. The country is suffering from in
dustrial disturbances from which speedy re-
lief must be had. Our financial system
needs some revision; our money is all GOOD
now, but it's value must not further be
threatened. 1t should all be put upon an
enduring basis, not subject to easy attack,
its stability to doubt or dispute. Our
currency should continue under the super,
vision of the government: Inc seveIal
forms of our paper money offer, III my Judg-
ment, a constant embarrassment to the
government and a safe balance in the treas
Try Therefore l believe it necessary to
devise d system which, without diminish
ing the circulating medium, or 0Hermg
premium for it's contraction, will present
y remedy for those arrangements, which,
temporary in their nature, might well IN
the years of our prosperity nave Dee aa, as
placed by wiser provisions. With adequate
revenue secured, but not until Inen, we
can enter upon such changes in our fiscal
laws as WILL while insuring safety and vol
ume to our money, longer impose upon
the government the necessity OF maintain
ing so large gold reserve, Win us at
PENDANT and inevitable temptations TO spec
ulation. Most of our financial laws are
the outgrowth of experience ana trlal, ana
tion and demonstration of the WISDOM OF
the proposed changes. We must be both
sure we are right and make haste Slowly.
A Currency Commission.
If therefore Congress in it's wisdom shall
deem it expedient to create a commission
to fake under early consideration the re-
vision of our coinage, banking and cur
rency laws, and give them that exhaustive,
their Importance demands, l shall cordially
concur in such action. II Such power Is
vested in the President It Is my PurpoSS1e
to appoint a commission OF prominent, Wen
Informed citizens of different parties, VINO
will command public confidence both on acr
count of their ability and speclal ntness
for the work. Business experience ana
public training may thus be comDlned anu
the patriotic zeal Of the frehds Oh Tue
will be made as to receive the support OF
all parties and our finances cease 10 De
the subject Of mere partisan content1on.
The experiment is, at all events, worth
trial and, in my opinion, 1T can out prove
beneficial to the entire country o+,,,;s,,
The question of international blmetalllsm
will have early and earnest attention. II
will be my constant endeayor TO secure 1t
by cooperation with the othef gT paiI f tbat
nnnditiop is realized when the parity be-
tween our gold and silver money sprIngs
from and is supported by the relative Falde
Of the two metals the value of the silver
already coined and of that which may mere
after be coined must be Kept constantly au
par with gold by every resource at our
command The credit of the government,
The Integrity of it's currency ana the IN
volatility of it's obligations must De pre-
served This was the commanding verdict
OF the people and it will not be unheeded.
Economy is demanded in every Dfancn OF
at al times.
i'm nqriods like the present depression OF
business and distress among the people
THE seyereSt economy must be observed III
ali nnblic expenditures and extravaganza
stopped wherever it is found ana preVentea
wherever in the future 1t may De aeFel-
onnd If the revenues are to remain as
nov the only relief that can come must
be from decreased expenditures. But the
Drespnt must not become the permanent
condition of the government 1t has been
our uniform practice to retire, NOT increase
our outstanding obligations ana thls pollcy
must again be resumed and vigorously en-
forced Our revenues should always De
large enough to meet with ease ana pro prompt a
ness not only our current f mee nbl iu dabt
Int TO make proper and liberal provision
for that most deserving body OF pupilc
creditors, the soldiers and sailors ana the
widows and orphans who are the pension
ers of the United States. -.44z
The government should not be permitted
to run behind increase its DEBT IN
times like the present Suitably TO pro-
vide against this is the mandate OF duty
orr financial difficulties. A deficiency is
Inevitable so long the expenditures OF
the government exceed its receipts. IL can
only be met by loans CT an increased feYe-
uue While q large annual surplus OF reVe-
me NAV invite waste and extravaganza,
inodeuua re revenue creates distruSt and un-
dGrmines 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 post
ponement. surplus in the treasury ere
ated by loans is not a permanent or safe
reIiance It will suffice while it lasts, but
it cannot last long while the OUTLAWS OF
the government are greater than It's re
ceipts, has been the case during the
past two years. Nor must it be forgotten
that however much such loans may tenn
DorariIy relieve the situation the govern
the surplus accrued, which it must ultl-
paately pay. while its ability to pay IS not
strengthened but weakened by cOntlnual
deficit. Loans are imperative in great
emergencies to preserve the government
or its credits, but failure to supply needed
revenue in time of peace for the mainten-
ance of either has no Justification
Pay We Go.
The best way for the government to
maintain it's credit is to pay as it goes,
not by resOrting to loans, but by keeping
secured by a system of taxation external
and internal or both. 1t is the settled pol
beginning and practiced by all parties and
administrations to raise the bulk of our
revenue from taxes upon foreign produc-
tions 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 OPP,
posed to any needless additions to internal
taxation except in time of war, and is
committed by it's latest popular utterance
to the system of tariff taxation.
There can be no misunderstanding, either,
about the principle upon which this tariff
taxation shall be levied Nothing has ever
been made palmer at Il general election
than that the controlling principle is the
raising of revenue on imports in Jealous
care for American interests and American
labor. The people have declared that such
legislation should be had as will give ample
protection and encouragement to the indus
tries and the development of our country.
1t is therefore earnestly hoped and ex-
pected that Congress will at the earliest
practicable moment enact revenue legisla-
ton that shall be fair, reasonable, con-
servative and just and which, while sup
plying sufficient revenue for public, pur,,
poses, will still be signally beneficial and
nnlnfml tn nNerY section and eXerY enter