MY FELLOW-CITIZENS: In obedience to the mandate of my countrymenI am about to dedicate myself to their service under the sanction ofa solemn oath. Deeply moved by the expression of confidence and personalattachment which has called me to this service, I am sure my gratitudecan make no better return than the pledge I now give before God andthese witnesses of unreserved and complete devotion to the interestsand welfare of those who have honored me.
I deem it fitting on this occasion, while indicating the opinions I holdconcerning public questions of present importance, to also briefly referto the existence of certain conditions and tendencies among our peoplewhich seem to menace the integrity and usefulness of their Government.
While every American citizen must contemplate with the utmost pride andenthusiasm the growth and expansion of our country, the sufficiency ofour institutions to stand against the rudest shocks of violence, thewonderful thrift and enterprise of our people, and the demonstratedsuperiority of our free government, it behooves us to constantly watchfor every symptom of insidious infirmity that threatens our nationalvigor.
The strong man who in the confidence of sturdy health courts thesternest activities of life and rejoices in the hardihood of constantlabor may still have lurking near his vitals the unheeded disease thatdooms him to sudden collapse.
It can not be doubted that our stupendous achievements as a people andour country's robust strength have given rise to heedlessness of thoselaws governing our national health which we can no more evade than humanlife can escape the laws of God and nature.
Manifestly nothing is more vital to our supremacy as a nation and to thebeneficent purposes of our Government than a sound and stable currency.Its exposure to degradation should at once arouse to activity the mostenlightened statesmanship, and the danger of depreciation in thepurchasing power of the wages paid to toil should furnish the strongestincentive to prompt and conservative precaution.
In dealing with our present embarrassing situation as related to thissubject we will be wise if we temper our confidence and faith in ournational strength and resources with the frank concession that eventhese will not permit us to defy with impunity the inexorable lawsof finance and trade. At the same time, in our efforts to adjustdifferences of opinion we should be free from intolerance or passion,and our judgments should be unmoved by alluring phrases and unvexedby selfish interests.
I am confident that such an approach to the subject will result inprudent and effective remedial legislation. In the meantime, so far asthe executive branch of the Government can intervene, none of the powerswith which it is invested will be withheld when their exercise is deemednecessary to maintain our national credit or avert financial disaster.
Closely related to the exaggerated confidence in our country's greatnesswhich tends to a disregard of the rules of national safety, anotherdanger confronts us not less serious. I refer to the prevalence of apopular disposition to expect from the operation of the Governmentespecial and direct individual advantages.
The verdict of our voters which condemned the injustice of maintainingprotection for protection's sake enjoins upon the people's servants theduty of ex