Dean Jones says:

"Both are important.  If I had to choose, I'd say 'teaching' is the more important of the two.  However, we also want to be known as a premier undergraduate research institution. 

You are well-qualified in both teaching and research.  That is why you are here, talking with me.  The question I have is this:  'What are you going to do to satisfy these two interests?'

Your reply:

1.  I could stay current with the latest research if I got funding for more trips to research-oriented professional conferences.  Then I could help the students more.  Are you willing to fund more travel?

2.  I suppose I could supervise a few independent study-type research projects...  How many of those would you like me to supervise per year?

3.  I could stay current with the latest research more easily if I had a lower teaching load -- say, one summer session and a two-day-per-week teaching load during the regular semesters.  Is that proposal agreeable to you?