Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1897-07-26
THE CURRENCY MESSAGE.

The following Is the message sent 70
Congress by the President on Saturday
evening:
SIN my message convening the Con-
gress in extraordinary session, l called
attention to a single subject-that OF
providing revenue adequate to meet the
reasonable and proper expenses OF the
government. I believed that to be the
most pressing subject for settlement
then. A bill to provide the necessary
revenues for the government has al
ready passed the House of Representa-
tives and the Senate, and awaits execu.
tive action.
"Another question of very great i'm
portance is that of the establishment OF
our currency and banking system on a
better basis, which / commented upon
in my inaugural address in the follow.
| ing words:
"Our financial system needs some re-
vision; our money is all good now, but
its value must not further be threaten
ed. 1t should be put upon an enduring
oasis, not subject to easy attack nor its
stability to doubt or dispute. The sew
eral forms of our paper money offer, in
my judgment, constant embarrass'
ment to the government and imperil a
| safe balance in the Treasury.
Nothing was settled more clearly at
| the late national election than the deter
mination upon the part of the people to
keep their currency stable in value and
equal to that of the most advanced ma
tons of the world. The soundness OF
+ our currency is nowhere questioned.
No loss can occur to it's holders. 1t is
the system which should be simplified
and strengthened, keeping our money
! Just as good as it is now, with less ex-
pense to the government and to 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 businessmen,
with delegates from twenty-one States
and Territories, was held at Indianap-
oils in January of this year. The finan.
cial situation commanded their earnest
attention, and after q two days. session
the convention recommended to Con-
gress the appointment of monetary
mission.
81 commend this report to the con-
sideration of Congress. The authors OF
the report recommended a commission
to make thorough investigation of the
monetary affairs and needs of this
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 at
tention of Congress at Its special ses-
sion. 1t ought not to be postponed un'
til the regular session. therefore ur'
gently recommend that special conf
mission be created, non.partissn in its
character, to be composed of we'll in.
formed 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 bank
ing and currency laws may be found
necessary or expedient, and to report
their conclusions on or before the 1st
day of November next, in order that
the same may be transmitted by me to
Congress for its consideration at its
first regular session.
sit is to be hoped that the report
thus made will be so omprehensiye
and sound as to receive the support of
all parties, and the favorable action of
Congress. At all events such report
cannot fail to be of value 10 the Execu.
tive branch of the government, as well
as to those charged with public legisla
ton, and to greatly assist in the estab.
lishment of an improved system of f.
nance"