The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1897-08-11
MESSAGE ON CURRENCY,
President Mckinley Recommends a
Monetary Commission.
1T SHOULD BE N0N-PARTISAN.
ae Wanted 1t to Investigate the Bank.
ing and Currency Laws and to Report
Before November 1 Next-The Plea For
a Currency Commission Granted by
House and Refused by the Senate.

hOuSt anu 4kclubCo ny ShS
WASHINGTON, D. G. (SpeciaD.-President
.:IcKinley sent the following message to
Congress late in the afternoon OF the day
that the two houses adjourned.
To the Congress Of the United States:
In my message converting the Congress
In extraordinary session I called attentiont to
q single subjsct-that Of providing revenue
adequate to meet the reasonable and proper
expenses ofthe Government. I believed that
to be the most pressing subject for SETTLE
ment then. 4 bill to provide the necessary
revenues for the Government has already
passed the House OF Representatives, ana
the Senate and awaits Executive action.
Another question OF very great Importance
Is that OF the establishment OF our currency
and banking system on a better basis, Whlch
T commented upon In my inaugural ADDRESS
In the following words:
"Our financial system needs some revis-
lon; our money is all good now but its value
must not further be threatened. 1t should
all be put upon an enduring basis, not sui
ject to easy attack, nor it's stability to doubt
or dispute. The several forms Of our paper
money offer, in my judgment, q constant
embarrassment to the Government and i'm
peril a safe balance in the Treasury"
Nothing was settled more clearly at the
late National election than the determine
ton upon the part OF the people to keep
their currency stable in value and equal to
that of the most advanced nations OF the
world.
RThe soundness OF our currency is no.
where questioned. No loss can occur to its
holders. It is the system which should be
,;-o.lIUaI ND skranrfhana H canninO nIp
money Just as good as 1t is now with less
expense to the Government and the people.
The sentiment OF the country Is strongly
In favor OF early action by Congress in this
direction to revise our currency laws and
remove them from partisan contention. A
notable assembly OF business men, with
delegates from twenty-nine States and Ter
~ritorles, was held ut Indianapolis In Janu-
ary Of this year. The financial situation
commanded their earnest attention, and
after a two days session the convention
recommended to Congress the appointment
Of a monetary commission. l commend
this report to the consideration o. Con-
yress.
The authors OF the report recommend q
commission "to make thorough investiga-
ton Of the monetary affairs and needs OF
his country In all relations and aspects,
and to make proper suggestions as to any
evils found to exist and the remedies
therefor"
This subject should receive the attention
Of Congress at its special session. 1t ought
not to be postponed until the regular ses-
sion.
I therefore urgently recommend that q
special commission be created, n~on-parti-
IAN in it's character, to be composed OF
w~ell-informed citizens OF different parties,
who will command the confidence Of Con-
yress and the country because OF their
special fitness for the work; whose duty it
shall be to make recommendations OF what
ever changes in our present banking and
currency laws may be found necessary and
sxpedient, and to report their conclusions
on or before the first day OF November next,
In order that the same day it may be trans
mitted by me to Congress for it's considera-
ton at it's first regular session.
1t is to be hoped that the report thus
made will be 80 comprehensive and sound as
to receive the support Of all parties and
the favorable action Of Congress. At all
events, such q report cannot fail to be OF
value to the Executive branch Of the Gov
eminent, as well as to those charged with
public legislation, and to greatly assist in
the establishment Of on improved system
Of finance. WILLIAM MCKINLEY.
Executive Mansion, July "a, 1897.