New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-07-03
CURRENCY MESSAGE LIKELY
BUT NO POSITIVE DECISION HAS BEEN
REACHED BY THE PRESIDENT.
1T Is THOUGHT PROBABLE. HOWEVER THAT HE
WILL RECOMMEND THE APPOINTMENT OF
CURRENCY COMMISSION AFTER
HIS RETURN FROM CANTON
NEXT WEEK.


Washington. July 2-The question Of whether
the President will send a special message 10 Con-
gress recommending the creation Of a currency
commission will be definitely decided next week.
The President is strongly inclined at this time
to send special currency message to Congress-
regarding himself as In considerable measure
pledged to this course. In fact, 1t was semi
officially announced at the White House late
this afternoon that such a message would be
sent to Congress next week, but some Of his
most influential advisers on financial questions
are opposed to q message as impolitic at this
time. owing to hostility to a commission on the
part of Congress. and the final determination
will not be reached until Mr.. McKinley's return
from Canton.
The Executive Committee Of the Indianapolis
Sound Money Convention has been actively ad-
yocating the commission scheme ever since the
advent Of the present Administration. 1t has
also the sympathy Of the President. who COM
mitted himself to It In his inaugural address.
Mr. Mckinley. however, did not care to recon-
mend 1t to Congress while the Tariff bill was
pending, lest 1t might complicate and delay ac-
ton on that measure. But all along the chief
difficulty which presented itself to those who
favored a commission for the investigation OF
the currency system has been the opposition 1t
would encounter In Congress. While bill for
the creation Of the commission could easily be
passed in the House, where factious opposition
would be unavaiing against the operation OF
closure order, such opposition In the Senate
might be almost interminable Several Of the
silver Senators have openly avowed their unal-
terable hostility to the creation OF commis-
sion and Senator Teller. OF Colorado has de-
clared that he would remain here until December
to defeat It.
This being the situation. It Is understood that
some of the members Of the Executive Commit
tee OF the indianapolis Convention are now In
clined to believe that 1t would perhaps be mis-
take to press their reques: for the creation of a
commission by Congress. The better and wiser
thing to do, some Of them now think, would be
to withdraw the request for a commission and to
use the provisional power vested In the commit
tee of the Indianapolis Conve ltion and them
selves select a committee to investigate the cur
rency question and present their conclusions
through the public press If those conclusions
were such as the Administration could indOrse,
they could be made the basis Of an Administra-
tion measure modified as Secretary Gage con-
Quoting an independent investigation. might
suggest.
The Secretary has been at work for some time
On a comprehensive currency reform scheme,
and some suggestions have been made as to the
wisdom Of not having further agitation or the
question but Of permitting Mr.. Gage who has
the full confidence of business generally,
TO frame a measure after such consultation as
he may desire with financers, business men,
members Of the House and Senate and others
The matter was discussed at the Cabinet meet
ing to-day, but not In the manner to lead to a
definite decision, and the subject went over until
the Presidents return to the city next week.
when II is probable that H. H. Hanna chairman
of the Executive Committee Of the Indianapolis
Convention, and perhaps other members OF the
committee, will come to Washington to discuss
the situation with the President ard Secretary
Gage On the result of the conference will
probably depend President McKinley's action in
regard to a special message to Congress.