Second Inaugural Address of William McKinley. This is the address that President McKinley gave when he was sworn in as President for the second time. It was the first American Presidential Inaugural Address of the 20th Century.
From the site:
When we assembled here on the 4th of March, 1897, there was great anxiety with regard to our currency and credit. None exists now. Then our Treasury receipts were inadequate to meet the current obligations of the Government. Now they are sufficient for all public needs, and we have a surplus instead of a deficit. Then I felt constrained to convene the Congress in extraordinary session to devise revenues to pay the ordinary expenses of the Government. Now I have the satisfaction to announce that the Congress just closed has reduced taxation in the sum of $41,000,000. Then there was deep solicitude because of the long depression in our manufacturing, mining, agricultural, and mercantile industries and the consequent distress of our laboring population. Now every avenue of production is crowded with activity, labor is well employed, and American products find good markets at home and abroad.
Our diversified productions, however, are increasing in such unprecedented volume as to admonish us of the necessity of still further enlarging our foreign markets by broader commercial relations. For this purpose reciprocal trade arrangements with other nations should in liberal spirit be carefully cultivated and promoted.
The national verdict of 1896 has for the most part been executed. Whatever remains unfulfilled is a continuing obligation resting with undiminished force upon the Executive and the Congress. But fortunate as our condition is, its permanence can only be assured by sound business methods and strict economy in national administration and legislation. We should not permit our great prosperity to lead us to reckless ventures in business or profligacy in public expenditures. While the Congress determines the objects and the sum of appropriations, the officials of the executive departments are responsible for honest and faithful disbursement, and it should be their constant care to avoid waste and extravagance.