The true northerner., 1897-08-04
THE MONEY QUESTION.
Message from President Mckinley
on Currency Reform
The House Took Action Before Ads
Journment. Hut the senate sent
the Document To the FINANCE
Committee-Text Of Message.

Washington, July 26.-Before the Ydo
iournment of congress on Saturd n
President Mckinley sent to both houses
the following message:
"To the Congress of the United States;
In nv message convening the congress In
extraordinary session i called attention to
q single subject-that OF providing revenue
adequate TO meet the reasonable and
proper expenses of the government be-
iieyed that TO be the most pressing sub
tect for settlement then. A bill TO provide
the necessary revenues for the government
has already passed the house or represent
atives and the senate and awaits execu-
tive action.
Another question OF very great impor-
tance is that of the establishment OF our
currency and banking system on better
basis, which / commented upon In my In
augural address In the following words:
"'Our financial system needs some re-
vision; our money Is all good. but Its value
must not further be threatened. II SAsuNd
all be put upon an enduring basis, not sub
tect to easy attack. nor Its stability To
doubt or dispute. The several forms OF our
paper money offer. In my judgment. con-
slant embarrassment to the government
and imperil n 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.
THE soundness of our currency IL no.
where questioned. No loss can occur to Its
holders. 1t is the system which should be
s!mplified and strengthened. keeping our
money just as good as 1t Is now, with less
expense to the government and the people
1.-THE sentiment OF the country Is strong
ly in favor OF early action by congress in
this direction, TO revise our currency laws
and remove them from partisan conten-
tion. A notable assembly OF business men
with delegates from 20 states and terri
tories was held at Indianapolis in January
of this year. The financial situation COM
manded their earnest attention. and after
two-days' session the convention rec
commended to congress the appointment
OF a monetary commission.
81 commend this repor: to the consid-
| Grafton OF congress. The authors OF the
report recommend a commission to make
| a thorough investigation OF the monetary
affairs and needs OF this country in all re-
| lations 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 the special session. 1t
ought not TO be postponed until the regu-
| lar session.
II therefore urgently recommend that a
special commission be created. non-parti-
| san in it's character, 10 be composed OF
well-informed citizens Of different parties.
| who will command the confidence OF con-
| gress and the country. because OF their
| special fitness for the work, whose duty
| it shall be TO make recommendations of
| whatever changes In our present banking
| and currency laws may be found necessary
| and eXpedient, and to report their conclu-
sionS on or before the lst day or Novem-
| Der next, in order that the same may be
! transmitted by me to congress for Its
| consideration at its first regular session.
| "It is to be hoped that the report thus
made will be so comprehensive and sound
| tUa hn of oil ritz
and the favorable action Of congress- At
| all events such a report cannot fail to be
| OF value TO the executive branch of the
government well as to those charged
with public legislation, and to greatly as
| sist In the establishment Of an improved
! system OF finance.
! WILLIAM M'KINLEY.
Executive Mansion. July "a. 1897" ~