Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-11-24
But It is to Establish a Monetary
Commission.
A SUBSTITUTE FOR CLEVELAND'S PLAN
It is Advocated by at Lease Two
Cabinet Officers.
TEXT OF THE MEASURE

1t seems that there Is some opposition in
the culinet to the Presidents outlining
ary general financial scheme in his mes
sage to Congress. Some of the cabinet are
urging that nothing could be accomplished
during this Congress, and that II would be
provocative only Of irritation and trouble.
They therefore urge that instead of send
ing in the Endorsement of any plan, which
the President is contemplating, he recon-
mend the authorization of a monetary
commission to be appointed by the presi-
dent, to make a thorough Investigation of
the question and report plan to Congress.
Two or three, and perhaps more, OF the
cabinet are in favor of this course. They
have prepared a carefully worded bill pro-
viding for such a commission, which they
have submitted to the President for his
consideration. The President has not yet
expressed himself on the subject, but Sec
retary Carlisle is said to be apprehensive
that the commission scheme would not
work.
He is said to apprehend that Congress
might adopt the suggestion with a modifi-.
cation, giving to Congress the naming OF
the commissioners, or perhaps naming them
In the resolution. This would Inevitably
favorable to silver. There is said to be
very lively, though entirely amiable con-
tention over the matter In the admnistra-
ton household.
The Bill Prepared.
The following is a copy Of the bill submit
ted to the President:
Section /. Be 1t enacted, etc, That the
President shall appoint seven commission
ers who shall constitute a monetary COM
mission Of non-partisan character
Section 2. That said commission, at as
early date as practicable, shall
l. Investigate the nature and working of
each kind of money now in use In the
United States; indicating the merits and
defects of each; stating all evils and incon-
veniences resulting from the same, and
which, IL all or sevcrally, shall be modified
or withdrawn.
2. Report upon the nature of the none
tary standard which will best insure a
trade of the United States with foreign
countries; on the public credit of this coun-
try at home and abroad; on our internal
trade and Industry, and recommend the
best means of maintaining undisturbed
the stability of such standard.
3. Recommend the best means of simpli
flying and unifying the various existing
media of exchange in the United States,
and ..t..,...A,,..
4. Recommend the most desirable method
of establishing an elastic and automatic
note issue.
Section g. That said commission shall
have authority to determine the time and
place Of its meetings; to take evidence; to
call before 1t competent persons for sug-
gestion and information; and also to have
access to such books, documents and rec
ords of the United States as may bear on
the subjects assigned to 1t. And said COM
mission shall report the results of their la
bors to the President, who shall transmit
the same to Congress.
Section L. That said commissioners shall
each receive the sum OF ...... dollars and
his reasonable expenses. to be approved by
fhA atprx nf 4.
power to appoint a secretary, whose COM
pensation shall be dollars; that they
shall have authority to engage such steno-
graphic and clerical assistance as they may
deem necessary; and the amount necessary
to pay such compensation and expenses
shall be paid out Of any money in the treas
ury not otherwise appropriated.
Who Favor the Scheme.
Secretary Morton, Attorney General o.
ney and Controller Eckels favor this
scheme. These gentlemen urge upon the
President that probably such a measure
can be passed at the coming session of
Congress, and the way thus prepared, un-
der wholly democratic auspices for the
much desired reform. They are very much
afraid nothing else can be passed in the
short session, limited practically to eight
weeks. They ask what reasonable objec-
tion can be found to the monetary commits
sion plan. The commission Is to be nom
partisan. 1t Is to comprise practical bank
ers as well as theoretical financiers. 1t
will be organized under a plan which does
not shut out silver or gold any device
for maintaining the parity Of the two
metals that may be found practicable.
1t provides for hearings, giving every one
an opportunity to come forward with hIs
sure cure for all financial ills and currency
evils. These gentlemen tell the President
that the report of such a commission, care
fully made after thorough Investigation,
will command the respect and confidence
of the country, and public opinion will lead
to its enactment. Even If this must be
done by a republican House and q mixed
Senate, 1t Is the democratic party that will
get the credit for 1t.