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.
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