that their importance demands, I 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 citizens of different parties, who will command public confidence, both on account of their ability and special fitness for the work.  Business experience and public training may thus be combined, and the patriotic zeal of the friends of the country be so directed that such a 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 experiment is, at all events, worth a trial, and, in my opinion, it can but prove beneficial to the entire country.

The question of international bimetallism will have early and earnest attention.  It 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 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 Government, the integrity of its currency, and the inviolability 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 business and distress among the people.  The severest economy must be observed in all public expenditures, and extravagance stopped wherever 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 condition of the Government.  It has been our uniform practice to retire, not increase our outstanding obligations, and this policy must again be resumed and vigorously enforced.  Our revenues 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 public 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 run behind or increase its debt in times like the present.  Suitably to provide against this is the mandate of duty—­the certain and easy remedy for most of our financial difficulties.  A deficiency is inevitable so long as the expenditures of the Government exceed its receipts.  It can only be met by loans or an increased revenue.  While a large annual surplus of revenue may invite waste and extravagance, inadequate revenue creates distrust and undermines public and private credit.  Neither should be encouraged.