THE AMERICAN PRESIDENCY.

Press, Volume LIV, Issue 9670, 8 March 1897, Page 5

THE AMERICAN PRESIDENCY.

MAJOR McKINLEY ASSUMES OFFICE. A STBIKING PAGEANT. THE PBESIDENT'S INAUGUBAL ADDRESS. Bj Telegraph— Press Association—Copyrieht. "Washington, March 5. Major McKialey formally assumed the office of President yesterday. The pageant at the Capitol was a striking one. Thirty thousand troops lined the route, and there was an immense gathering of spectators to witness the proceedings. In his inaugural address Major McKinley said that territorial aggression would be avoided, and a linn and dignified foreign policy adopted. Every agenoy for the preservation of peace would be tried before resorting to war. Arbitration was the true method for bringing about a settlement of international disputes, and the treaty recently entered into with the British was a glorious example of the exercise of reason for securing peace. He favoured the appointment of a Commission to inquire into the questions of revision of the coinage, banking and currency. The subject of international bimetallism would receive early attention. The popular mandates with regard to the integrity of the currency, tariff reform and taxation would be enforced, and an anti-trust policy would be pursued. The President urged the Senate to take early action in the matter of the Arbitration Treaty, as a duty to mankind. The revival of business would take time.

Congress has been convened for the 15th March.

The President considers that the affairs of the Treasury demand immediate attention.

Six members of the Cabinet are millionaires.

Mr Hanna, the leading organiser of the Republican party, replaces Sherman in the Senate, the latter having accepted the office of Secretary of State.

New Yobk, March 5.

The newspapers unanimously approve of President McKinley's views in regard to the arbitration treaty #