By a budget system I mean a reference of proposed expenditures and receipts to some one authority or tribunal, which, after determining what the revenues are to be, must also determine what the expenditures can be, and make a budget without a deficit.
Address at the Banquet of the Board of Trade in Newark, New Jersey
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The Navy Department has no objection to the proposed salvage operations, but the Department of State holds the view that these wrecks are public property of the United States, which may be alienated only by an act of Congress or by a convention having the force of law.
If I fail to recommend the reduction of excessive duties to this extent, I shall fail in my duty to the consuming public.
I can not make myself a party to dealing with the industries of the country in this way.
Pledged to support a policy of moderate protection, I can not approve a measure which violates its principle.
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