The Penn's Grove record., 1897-07-30
MESSAGE ON CURRENCY.
President Mckinley Recommends a
Monetary Commission,
1T SHOULD BE NON-PARTISAN,

He Wanted It to Investigate the Bank
ing and Currency Laws and to Report
Before November Next-The Plea For
. Currency Commission Granted by
House and Refused by the senate.
WASHINGTON, d. @. DISQUALIFICATION
Mckinley sent the following message to
| Congress late in the afternoon OF the day
that the two houses adjourned.
To the Congress Of the United States:
IN my mossage converting the Congress
In extraordinary session I called attention to
a single subject-that of providing revenue
adequate to meet the reasonable and proper
EXPENSE Of the Government. l believed that
to be the most pressing subject for settle
revenues for the Government has already
passed the House Of Representatives and
the Senate and awaits Executive action.
Another question of very great Importance
Is that OF the establishment of our currency
and banking system on u better basis, which
/ commented upon In my inaugural address
In the following words:
'Our financial system needs some reyis-
Ion; our money is all good now but its value
must not further be threatened. 1t should
all be put upon IN enduring basis, not sub
ject to easy attack, nor its stability to doubt
or dispute. The several forms of our paper
money offer, In my judgment, a constant
embarrassment to the Government aud i'm
| peril q safe balance In the Treasury"
Nothing was settled more clearly at the
late National election than tho determine
tion upon the part Of tho people to keep
their currency stable in value and equal to
that Of the most advanced nations OF the
world.
HThe soundness OF our currency Is no.
whore questioned. No loss can occur to its
holders. 1t Is the system which should BIO
simpliiied and strengthened, keeping
money Just as good as it is now with less
EXPENSE to the Government and 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 business men, with
delegates from twenty-nine States and Ter
r~itories, was held at Indianapolis in Janu-
ary of this year. The financial situation
commanded their earnest attention, n
after a two days session tho convention
recommended to Congress the appointment
OF a monetary commission. 1 commend
this report to the consideration Of Con-
gross.
The authors OF the report recommend a
commission 'to make Thorough investiga-
ton 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 attention
OF Congress at its special session. 1t ought
not to be postponed until the regular ses-
sion.
1 therefore urgently recommend that a
special commission be created, non-parti-
san In its character, to be composed Of
weIl-informed citizens of different parties,
who will command the confidence Of Con-
gress and the country because OF their
special iltnes3f for the work; whose duty it
shar De To make recommendations of what
ever changes In our present banking and
currency laws may be found necessary and
expediept, and to report their conclusions
on or before the first day Of November next,
in order that the same day it may be trans
mitted by me to Congress for its copsidera-
ton at its first regular session.
1t is to be hoped TINT the report thus
made will be so comprehensive and sound as
to receive the support OF al parties n
the favorable action Of Congress. AT all
events, such a report cannot fail to be of
value to the Executive branch Of the Gov
eminent, as well as to those charged with
public legislation, aud to greatly assist In
the establishment Of m improved system
OF finance. WILLIAM MCKINLEY.
Executive Mansion, July p 1897.