The daily morning journal and courier., 1897-07-08
TO REFORM THE CURRENCY
PRESIDENT MKLNLEY SUBMITS HIS
 PLAN TO THE CABINET. y

He Wants Authority to Name Nine Com-
 missioners to Consider the Subtect-4-
 Thinks Action as Necessary as the En-
 actment of Protective Tariff Law
 Wants to Assure Value of Our nIoneys
 Washington, July 7.-President Mcl Kinley last night called special meet ing of the cabinet for to-day. TheSreg- ular meeting would not have occurred until Friday. and there were some mat ters 1t was desired to give early con- sideration. It is understood that one matter under consideration was the sending of a message to congress oN the currency question, and another the advisability. of recommending any changes in the tariff bill before 1t pass es to the conference stage.
 The president will ask authority ta name nine commissioners and for an appropriation for the expenses of the commission, but will make no sugges- ton as to the political or other coynpo- sition of the commission, nor will ha make any suggestion of the lines of in-
 NSSStoe1SASAAs AAC W1At 21AAAEAy NetAA4 tion to the necessity to reform of our currency and national banking laws. and state that ins his opinion this re-; form is equally important with the en~ |actment of protective tariff law.
 The message was framed by the pres- ident himself. and. like his other spe4i cia1 messages to congress, states the necessity of the occasion tersely. It [, tion with one or two advisers and sub- mitted to the cabinet as a whole only to-day, when 1t was read in complete form. It recites the fact that the tarift bill has now passed both the house and the senate. and hopes that it will soon be concurred in by both houses. With that acted upon, a subject Of equal illi- portance, he says demands iInmediate |attention-that of reform in our curreny cy.
 The message quotes from the presi-s dents inaugural address, in which lae |said: Our financial system needs some revision: our money is all gooN now, but its value must not be further threatened. It should all be put on an enduring basis, not subject to easy at- tack, nor It's stability to doubt or dis- pute. Therefore, T believe 1t necessary to devise system which. without di- minishing the circulating medium Of offering premium for its contraction will put remedy for these arrange ments which, temporary in their na~ ture, might well in the years ot onrs prosperity have been displaced by ias Ter provisions 2 V ssf asggsss ss < < It also cites the work and recpin- |mendations of the IndianapUlis cy convention, and says that if the power is vested in the president 1t is his purpose to appoint a commission. non-partisan. consisting of prominent. well informed citizens, who will com mand public confidence. The message closes with the hope that congress will enact legislation at this session to atl- thorize this commission to be made up of representatives of both parties, so that the president may be prepared to report to congress when it reasaenbles in the first term of the regular ses- sion. tS q The president, while believing that congress will respond to his mess4re. is not over-conf1dent and there wsa some difference of opinion expressed
 by the cabinet as to the fate the Arec4 concentrations would meet at this ees- sion
 The majority, however, believed that the opportunity was at least q faNora-
 ble one, and that it was. at any rate. the duty of the administration to d0l what 1t could to hasten the reform.