NEWS OF THE WEEK.
THE new American President, Mr. Cleveland, took the oath on March 4th, in front of the Capitol, Washington, in presence of a splendid gathering of notabilities, and de- livered an address, on which we have commented elsewhere. it was conceived in an unusually lofty spirit, its essence being that the American people, in consequence of their very great- ness and success, were in danger of trying to break economic laws, which were irreversible and irresistible. They acted as if they had outgrown the idea of frugality. The currency -was in confusion, the Tariff raised beyond the necessities of the Treasury, and the whole people taught to look to the 'Government for individual gain and protection. The Pension List, in particular, was evidence of "wild and reckless pro- fusion." "Paternalism" was rampant ; though, " while the veople should cheerfully support the Government, its functions do not include the support of the people." The system of aggre- gations called Trusts, "frequently constitute conspiracies against the people." The President stood pledged to correct these evils ; though he and the other agents of the people would act without hurry or "vindictiveness," seeking preven- tion and not punishment, but "discrediting abject dependence Upon Governmental favour." The President felt his grave responsibility, but found confidence in the generosity of the people, and the knowledge that a Supremo Being ruled the affairs of men. No hints were given as to the President's methods, these being reserved for the first message to Con- gress, the date of which is not fixed. It is intended to avoid a special Session, and to fill the Treasury by a gold loan for some millions sterling; but so great is the outlay caused by the monthly purchases of silver, that if there is any diffi- culty in collecting the loan in metal, Congress will be called together at once.
