robust strength have given rise to heedlessness of those
laws governing our national health which we can no more evade than human
life can escape the laws of God and nature.

Manifestly nothing is more vital to our supremacy as a nation and to the
beneficent purposes of our Government than a sound and stable currency.
Its exposure to degradation should at once arouse to activity the most
enlightened statesmanship, and the danger of depreciation in the
purchasing power of the wages paid to toil should furnish the strongest
incentive to prompt and conservative precaution.

In dealing with our present embarrassing situation as related to this
subject we will be wise if we temper our confidence and faith in our
national strength and resources with the frank concession that even
these will not permit us to defy with impunity the inexorable laws
of finance and trade. At the same time, in our efforts to adjust
differences of opinion we should be free from intolerance or passion,
and our judgments should be unmoved by alluring phrases and unvexed
by selfish interests.

I am confident that such an approach to the subject will result in
prudent and effective remedial legislation. In the meantime, so far as
the executive branch of the Government can intervene, none of the powers
with which it is invested will be withheld when their exercise is deemed
necessary to maintain our national credit or avert financial disaster.

Closely related to the exaggerated confidence in our country's greatness
which tends to a disregard of the rules of national safety, another
danger confronts us not less serious. I refer to the prevalence of a
popular disposition to expect from the operation of the Government
especial and direct individual advantages.

The verdict of our voters which condemned the injustice of maintaining
protection for protection's sake enjoins upon the people's servants the
duty of exposing and destroying the brood of kindred evils which are
the unwholesome progeny of paternalism. This is the bane of republican
institutions and the constant peril of our government by the people.
It degrades to the purposes of wily craft the plan of rule our fathers
established and bequeathed to us as an object of our love and
veneration. It perverts the patriotic sentiments of our countrymen and
tempts them to pitiful calculation of the sordid gain to be derived
from their Government's maintenance. It undermines the self-reliance of
our pe