The Atlanta constitution. [volume] (Atlanta, Ga.) 1885-19??, 1894-11-19
Reported That the President VIII
RcrnE.snrnd n Endlcnl RcNIninn.


From Tae New York II raid.
Washington. November 1.-THE leading
feature ~ President Cleveland's fortncom-
ing mcSsau. 10 congress will be devoted Ia
Oh financial system OF the country and he
VIII recommend a radical revision Of the
entire system.
The present system is regarded a. a
miserable maEeshitt OF shrels and patches
of such gslatian "a could De got through
congress from time 10 time 10 further this
or that scheme OF finance. 1t does not
repros mt the best ideas OF leading states
men and nuanci-rs of the country. and il
has frequently been said that only a coun-
tr blessed with unusual natural resources
ana free from the danger Of foreign wars
could get along at all under such an inn
perfect monetary system.
ShOuIa stop the banking Business.
Tho president believes one of the worst
defects of the presenl system 10 be the dual
character of the treasury, which is al once
national treasury and a great banking
institution. Tie believes the government
ousht 10 set out OF the banking business
altogether, and leave that FOR private citi-
z.as re- engage in.
AS The Herald has stated the admins
tration viii probably recommend the Grad
uai retirement and cancellation Of All out-
standing government notes of al varic-
staAA ttit SUBSTITUTION 4ot Al-st VI tstlik
notes issued I'm general accordance with
the plan formulated al the bankers con-
ference in baltimore. Nd, and known as
the Baltimore plan"
This plan viii not be recommended by
Che president without some notifications
however. one Of the most important Of
these viii be the insertion of the provision
that ;he banks issuing notes shall be re-
CURED to redeem them in coin over their
own counters on demand. The administra-
tiol believes this provision TO be absolutely
essential 20 sound bank currency. In
tae event % the failure OF any bank to
meet its notes on demand the holders
wouii ae secured BY the central reserve
fIal provided FOR as part of the proposed
system.
Customs Duties in Gold.
IN ord to increase the supply Of gold in
ihe treasury the administration has under
consideration tho question OF recommending
tnat certain proportion of the customs
duties Of the country be paid in eolG but
n the treasury should be divorced alto
pcth,r from the banking business this
would not toe 50 necessary, because i'm that
event the treasury would not be called upon
10 meet demands for gold for export. That
demand would fan upon the banks, which
would probably protect individual institu-
tions from disastrous demands BY 4 ciear-
inf house system that would apportion the
amount o: gold to Be- supplied among the
different banks
IN view OF the presidents weli-known
and firm belief that il is not IN the power
az the United States or amy other nation
To maintain a larte volume of silver com
a par with gold. it is not probable he VIII
recommend any legislation in the interests
of silver. out will maintain that the United
States can do nothing more tnan stand
-ca H. 10 participa lie in any movement in
tended 10 bring about the demonstration
of silver by the united action of all the
principal commercial nations Of the WorId.