William McKinley Quotes

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.

The country was in a terrible recession and McKinley and other politicians of the time did not know about or understand the use of a counter-cyclical policy of government stimulus. With the economy devastated and the main revenue for the Federal Government coming only from import customs duty, the Federal coffers were emptying rapidly. Retrenchment was the only possible step that was then known.

William McKinley, 1843-1901, 25th President of the United States (Republican, OH), Speech, Canton, Ohio, March 1, 1897

Eigen's Political and Historical Quotations

William McKinley
William McKinley
  • Born: January 29, 1843
  • Died: September 14, 1901
  • Nationality: American
  • Profession: President

William McKinley was the 25th president of the United States, serving from March 4, 1897, until his assassination six months into his second term. McKinley led the nation to victory in the Spanish–American War, raised protective tariffs to promote American industry and kept the nation on the gold standard in a rejection of free silver (effectively, expansionary monetary policy).

Trending Quotes