- '_' 



SS. (TUK Fim-FIFTH CONGRESS.) 



t ravagance stopped when found, nn : 



rented wherever ID ill.- future it in. 

 If |L limn iw* now. tin- only re- 



lief that ran come must be from dermal ez| 



v Kut the pr -< nt must not become ti. 

 man. nment. I 



our uniform practice to retire, not increase 

 outstanding obligations and this polu-v mu-t again 

 be mimed and vigorously enforced. < > 

 should alwa.Ts be large enough to meet with ease 

 and prompt nnM not only ,.ur current Medl MM 



Miiei|ial ami iniervM of tin- public debt, l.ut to 

 make proi-r an. I liU-rnl pr-\i-i.-n for that most 



denrmg"Udy of public creditors, the soldiers and 

 sailor* and th'.- widow- and orphan* who arc the 

 pensioner* of the r.nted States. 



'..Go\,Tnmrnt should not be permitted to run 



its debt in times like th,- pn -, -m. 



vide against this is the mandate of 



the (t-rtnin ami easv remedy for most of our 



I ilo so 

 cxjM-nditurvs of tin- Qofernmtnl < 



Its receipts. It ran only U- met by loans or tin in- 

 . While a large annual surplus of 

 reven ivite waste and extravagance, inade- 



quate revenue create- -\>\ undermine! pub- 



lic and private credit. Neither should be encour- 

 aged. Between more loans and more revenue there 

 ought to U- but one opinion. We should have more 



.ue. and that without delay, hindrance. or post- 

 ponem A -urplus in the Treasury rrcated by 



loans is not a permanent or safe reliance. It will 

 suffice while it lasts, but it can not last long while 

 jtlaysof the Government are greater than its 

 receipts, as has been the case during the past two 

 yean. Nor must it be forgotten that BOf 

 inu< h such loans may temporarily relieve the situa- 

 tion, the Government is still indebted f<>r the 

 amount of the surplus thus accrued, which it must 

 ultimately nav, while its ability to pay is not 

 .t weakened by a continual deficit. 

 Loans are imjM-rative in great emergencies to pre- 

 serve the Government or its credit, but a failure to 

 supply needed revenue in time of peace for the 

 maintenance of either has no justification. 



ue bert 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 ade- 

 quate income secured by a system of taxation, ex- 

 ternal or internal, or both. It is the settled policy 

 of the Government, pursued from the beginning 

 and practiced by all parties and administrations, 

 to raise the bulk of our revenue from taxes upon 



- i produe- ngihc I'nited States for 



sale AIM consumption, and avoiding, for the ino-t 

 part, every form of direct taxation, except in time 

 of war. The country is clearly op|x)ed to any 

 needless additions to the subjects of internal taxa- 



ind i* committed by its latest popular utter- 

 ance to the system of tariff taxation. Ther 

 be no misunderstand '-.ab..ut the principle 



upon which this tariff t i.all be levied. 



as ever been made plainer at a general 

 ejection than that the controlling principle in the 

 raining of revenue from duties on imports is zealous 

 care for American interests and American labor. 

 The people have declared that Mich legislation 

 should be had a* will give ample protection and en- 

 couragement to the industries and the development 

 of our country. It i. therefore, earnestly hoped 



expected that Congress will, at the 'earliest 

 practicable moment, enaet revenue l.-irMation that 

 shall be fair, reasonable, conservative, and just. 

 and which, while supplying sufli. i. tit n-v.-nu.- for 

 public purposes, will still be signally lioneficial and 

 helpful to everv section and everv enterprise of the 

 people. To this policy we are all, of whatever par- 



ty. firmly Imund b\ of the peoph a 



power vastly more potential than the e\i 



any political platform. The paramount dm 



-lop deficiencies b\ the restoration 



of that pi gi-lation which has al\\a\- 



:nie-t prop of the Treasury. The 

 sage of such a law or laws would strengthen the 

 credit of the Government both at home and abi 

 and v -lopping the drain upon the 



gold reserve held for the rcdcmpt ion of our cur- 

 . which has IM'CII hea\y and well i 



"In the iv\i-ion of th. taritT e-p. -cial altent ion 

 should IK* given to the re-enactment and extension 

 ol Ih. tj prill- -iple of the law of I MM I. un- 



der which so great a stimulus was given to our fr- 

 eiu'ii trade in 1 1 



f.-r i-ur surj.lus agriciillnrul and manufactured 

 product-. 'I he brief trial given this le-islat ion 



amply justifies a furl her experiment and addi 

 lonary power in the making of comin. 

 I, the end in view always to be the opening 

 up of new markets for the products of our coir 



.mting conceal-. us to the products of other 

 lands that \veii.-cd and can not produce OUrse 

 and which do not involve any loss of labor to our 

 own people, but tend to increase their mplovmcnt. 



"'I he depression of the past four years has fallen 

 with especial severity upon th> ly of toil- 



ers of the country, and upon none more than the 

 holders of small l'arm>. Agriculture has languished 

 and labor sulTered. The revival of manufacturing 

 will be a relief to both. No portion of our popula- 

 tion is more devoted to the institutions of five 

 eminent nor more loyal in their support, while 

 none bears more cheerfully or fully it- proper -hare 

 in the maintenance of the Government or is I 

 entitled to its wise and liberal care and protection. 

 Legislation helpful to producers is beneficial to all. 

 The depiv-sed condition of indn-tryon the farm 

 and in the mine and factory ha- lessened the ability 

 of the people to meet the demands upon them, and 

 they rightfully expect that not only a sy-tem of 

 revenue -hall be established that will secure the 

 largest income with the least burden, but that 

 means will be taken to decrease, rather than in- 

 crease, our public expenditure. Business condi- 

 tions are not the most promising. It will take 

 time to restore the prosperity of former year-. If 

 we can not promptly attain it. we can resolutely 

 turn our faces in that direction and aid its return 

 by friendly legislation. However troublesome the 

 situation mav appear, Congress will not. 1 am 

 be found lacking in disposition or ability to relieve 

 it as far'as legjslat io!i rat ion of 



confidence and the revival of business, which men 

 of all parties <o much desire, depend more la; 

 upon the prompt, ciierget ic. and intelligent action 

 than upon any other single agency 

 alTe. 'nation. 



" It is instiirii.. remember that no L 



hundred and rs of 



renttnl national life has CV.T ari--n "that has 

 not been met with wi.-dom and courage by the 

 American people, with fidelity to their best 'inter- 

 ests and 1; tiny, and to the honor of the 



American name. These years of glori-.u- h: 

 have exalted mankind and advanced tie 



.-iioiit the world and immea-urably 

 strengthened the pn--iou- free institution* whica 

 we enjoy. The people love and will sustain t 

 institutions. Tin- great essential to our happ: 

 and pros|K-rity i< that we adhere to the principles 

 upon which t'he Government was established and 

 ifH.ii their faithful observance. 

 i nility of rights must prevail and our laws be 

 always and everywhere respected and obeyed. W- 



