1897年3月4日，星期四
……
The best way for the Government to maintain its credit is to pay as it goes—not by resorting to loans，but by keeping out of debt—through an adequate income secured by a system of taxation，external or internal，or both．
政府维持其信誉的最好方法是量入为出，不是求助于贷款，而是置身于债务之外，并通过一种税制——对外税制或对内税制，或两者兼而有之——来获取充足的收益。
It is the settled policy of the Government，pursued from the beginning and practiced by all parties and Administrations，to raise the bulk of our revenue from taxes upon foreign productions entering the United States for sale and consumption，and avoiding，for the most part，every form of direct taxation，except in time of war．
我国从一开始起就推行的，并且为各个政党、各届政府所实施的既定政策是：向进入美国销售和消费的外国产品课税以筹集大部分岁入；除战争时期外，通常避免征集各种形式的直接税。
The country is clearly opposed to any needless additions to the subject of internal taxation，and is committed by its latest popular utterance to the system of tariff taxation．There can be no misunderstanding，either，about the principle upon which this tariff taxation shall be levied．Nothing has ever been made plainer at a general election than that the controlling principle in the raising of revenue from duties on imports is zealous care for American interests and American labor．
国家明确反对增加不必要的国内税收，并且有责任施行关税制度，因为这是最近的一种普遍的呼声。我们对这一关税的课税原则也不能产生误解，在普选中，下面这个问题说得最为清楚，那就是，从进口税中筹集国家岁入，这一控制原则乃是对美国利益和美国劳工的热诚关怀。
The people have declared that such legislation should be had as will give ample protection and encouragement to the industries and the development of our country．It is，therefore，earnestly hoped and expected that Congress will，at the earliest practicable moment，enact revenue legislation that shall be fair，reasonable，conservative，and just，and which，while supplying sufficient revenue for public purposes，will still be signally beneficial and helpful to every section and every enterprise of the people．
人民已经宣布，应该制定一种法律，以便充分保护和鼓励我国的工业发展。因此，热切希望并期待国会及早在切实可行的时候制定公正、合理、稳健、正确的岁入法规，这项法规在为公共目的提供充分岁入的同时，依然对各界人士和各项人民事业大有裨益、大有帮助。
To this policy we are all，of whatever party，firmly bound by the voice of the people－a power vastly more potential than the expression of any political platform．The paramount duty of Congress is to stop deficiencies by the restoration of that protective legislation which has always been the firmest prop of the Treasury．The passage of such a law or laws would strengthen the credit of the Government both at home and abroad，and go far toward stopping the drain upon the gold reserve held for the redemption of our currency，which has been heavy and well－nigh constant for several years．
人民的意见——比任何一个政纲的表述都有力得多的力量——责成我们大家，无论属于哪一个党派，都要严格执行这项政策。国会的最高职责是恢复始终是国家财政最坚实支柱的保护性立法，以制止财政赤字。这样一条或诸条法律的通过，将增强政府在国内外的信行，并且大大有助于阻止为回收货币而储存的黄金外流，因为这些年来，这些黄金一直在大量地、源源不断地外流。