The Portland daily press., 1897-07-08
CURRENCY MESSAGE COMING.
President Decides to Ask Congress TO Ap-
point Commission.

Washington, July 7.-President McKin-
ley last night called a special meeting of
the cabinet for today.
ltis understood that one matter under
consideration was the sending of mes
sage to Congress on the currency question
and another on the advisability of recon-
mending changes in the tariff bill before
1t passes to the conference stage.
After discussion lasting over an hour,
the cabinet decided that the President
should send to Congress a message recon-
mending legislation providing for COM
mission to adjust the currency questions
OF the country. 1t was resolved that this
message should be sent to Congress to-
morrow, providing the tariff bill by that
time be passed by the Senate
The message itself is written and is
short. Its principal feature is QUOTA
tion from the Presidents inaugural ad-
dress on the financial subject.
The tariff bill was not considered at
the meeting today, except on the curren-
cy commission proposition.
The President will ask auth ority to
name the nine commissioners and for an
appropriation for the expenses Of the conf
the political or other composition of the
commission nor will he make any sug
gestion as to the lines Of investigation.
He will simply call attention to the neces-
sity of a reform Of our currency and ma
tional banking laws, and state that in
his opinion this reform is equally impor-
tant with the enactment Of protective
tariff law
The message was framed by the Presi-
dent himself and like his other special
messages to Congress. states the necessity
OF thea occasion tersely. 1t was prepared
by him after consultation with one or
two advisors and submitted to the cabi-
net as whole only today, when it was
read in complete form. 1t recites the
fact that the tariff bill has now passed
both House and Senate and hopes that it
will soon be concurred in by both houses.
With that acted upon, a subject of equal
Importance he says, demands immediate
attention, that of reform in our currency.
The message quotes from the President s
inaugural address in which he said: 'sOur
financial system needs some revision, our
money is all good now, but it's value
must not be further threatened. 1t should
all be put to an enduring basis, not SUBJ
ject to easy attack nor it's stability to
doubt or dispute. Therefore, / believe
it necessary to devise a system, which
without diminishing the circulating
medium, or offering premium for its
contraction, will put remedy for these
arrangements. which temporary in their
nature, might we'll in the years of our
prosperity have been displaced by wiser
provisions -
1t also cites the work and recommen-
dations of the indianapolis currency
convention and says if the power is vest
ed in the President it is his purpose to
appoint commission, non-partisan, CON
sisting of prominent, well-informed citi-
zens, who will command public conf
dence. The message closes with the hope
that the Congress will enact legislation
at this session to authorize this commits
sion to be made up of representatives of
both parties SO that the President may be
prepared to report to Congress when it
| re assemblies in the first term of the next
regular session.