New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-07-25
TO REFORM THE CURRENCY.
THE PRESIDENT ASKS AUTHORITY TO
APPOINT A COMMISSION.
A SPECIAL MESSAGE SENT TO CONGRESS AND
BILL PASSED BY THE HOUSE TO CARRY
OUT IT'S RECOMMENDATIONS.

"A
OUT IT'S RECOMMENDATIONS.
Washington. July 24.-Presdent Mckinley
sent his expected Message, recommending the
appointment of Currency Commission to Con-
gress this afternoon. 1t reads as follows:
To the Congress of the United States:
In my message convening the Congress in eX-
traordinary session. | called attention TO a sim
gle subject-that of providing revenue adequate
TO meet the reasonable and proper expenses OF
the Government. | believed that to be the most
pressing subject for settlement then. bill to
provide the necessary revenues for the Govern
ment has already passed the House or Represeh-
tatVes and the Senate, and awaits executive ac-
tion Another question of very great importance
IS that of the establishment of our currency and
banking system on a better basis. Whlch i com
mented upon in my inaugural ADDRESS IN 'he
following words:
our financial system needs some revision; our
money is all good now, but It's Naiue must no.
further be threatened. 1t should all ne put
upon an enduring basis not subject 10 easy at
tack nor its stability to doubt or dispute: me me
several forms Of our paper money oiier' IN my my
Judgment a constant embarrassment TO the Gov
ernment and imperil safe balance in the treas
ury." -, ,..
Nothing was settled more clearly at the iate
National election than the determhatioh upon
the part of the people to keep thelr currency
stable in value and equal to that OF the most 1 au
vanced nations of the world Ihe s0uhuiIesI 80 -.
our currency is nowhere questioned NO loSs
can occur to its holders 1t is the system which
should he smplfed and strengthened, Keeping
lust as gOOu as IL - ipN "'Ni, 49,
pense to the Government and the people :.
The sentiment of the country is strongly Ill
favor Of early action by Congress III ti,is uI'~
tOn, 10 revise our currency laws aiiu os
,hom from partisan contention. n notaple as
snroh,v Of business men, with delegates from
twenty-nine States and Territories was heiG 1r az
Indianapolis in January OF TINS year, nc ne
Nnancial situation commanded their earhest az
,n,tion and after TWO days session and con-
yention recommended to Congress 'he appo"'
roent of n Monetary Commission &c
hiG q
Congress The authors of the report recommends
a Commission Ito make thorough iliNcs'. T.
ZION OF the monetary affairs ana heeuS VI 'i.S ~.
country in all relations ana aspec'o, an
make proper suggestions as to any evils louhu
10 exist and the remedies therefor. ..,o., -
This subject should receive the attention ol
Congress at its special session. III oush' ho' W
ho nostponsd until the regular session
therefore urgently recommend thal sPtvin' Pea
commission be created, on-paruSdh III l'a -, @
acter to he composed OF Well-ihloiliSu oi' os
~ dtrTerent parties who will command the cohN
deuce Of Congress and the country @ pec"un 1, -
ther special fitness for the WORK WIuse uu'S .d
hau he IN make recommendations or Whatever
obonces in our present banking ana curIthC!
laws may he found necessary ana eNPeuleh., ~
and TO report their conclusions on OF peIole h ,,o
first day of November next IN oruei n nc nc CO.., CO..
sanoa may he transmitted by me 10 congress loi
&c consideration at its first regular session. ;,,
II is to be hoped that the report thus iiiaue
ha so cornprehensive and sounu tS W a
he sunnort Of all parties and the 1aVorape t az
lion Of Congress At all events suCh nItj,,e avtG
oourot fail 10 be of value 10 lHS 'AON -
tancb ~ the Government, as we'll as To tIIose
hargod with public legislation ana Sied,ly "
ossist in the establishment of an linpIo.,Tur q?
TEN Of finance WIh5d 1So-
The text Of the bill passed by the House IN
.osnorsa n The Presidents Message Is as loi-
lows: .,t,o, - annoint
Wn1eisrv commission Of eleven meihoeIs' VIZ VIZ
sbaI he peT sons specially hted ny eA conn-
90 I'D study for the cons!dcTaton or suoJec.s eSnil
- bafore sa,1 Commission. SAID comm SsoIi a.
;,ss,astigafe and report what changes, II hnS "a ~,
eceesarv and expedient in our present DiuhimS @ at
ac,~raTc,! Laws and what further legislation. II any
is desirable relative our Natona Dank'nS NJ, and
md our Government paper currency or hotvI ' M
oa,,6cates and may In connection theTeWlth ip
Tort a codifcation of existing laws on 'heSe SUI
Said Commission may take testimony ana lislei "a ~
argumenfs i'm their discretion, and may require anu
shall he entitled 10 receive information OF an! ~
,a~t,Den+ or officer OF the Government on any mat
within the scope of their investigation. ,.,o, -
said Commission shall meet Tor oIEalizdton ~
Washington at such time as the President may dP.
ront and NAV hold their subsequent sessions d.
such times and places as they may detefhIe ai.d
shall report 10 the President for TRANSMISSION 10
Congress not later than November 10, lN. -
Copes OF all bills relating 10 banking ana currency
or ,he circulating notes OF the Government ihtro-
duced in either House during the LlNth CongI,esss
and the frs, session OF the LNth shall ne 1urI"eu
bv the clerks OF said Houses 10 the Commission.
The bill appropriates 100000 for the expenses
OF the Commission.