Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-07-08
CURRENCY MESSAGE.
PRESIDENT TO SEND 1T IN TO CON-
GREss TODAY.
MKIHLErS INAUGURAL ADDRESS
Quotation Therefrom Of Exprcssfo.
Relative to Currency Reform-rhe
Indian"poiitan Recommendation.
Action Desired ut Present scsssor.

WASHINGTON, ID. c.. July 7.-presi.
dent Mckinley last night called a special
meeting OF the Cabinet for to-day. The.
regular meeting would not have occurred
until Friday. and there were some mat
ters to which II was desired TO give carly
consideration. After a discussion lasting
over an hour, the Cabinet decided that
the President should send message "a
Congress recommending legislation pro-
viding for commission TO adjust the
currency questions of the country. II
was resolved that this message should ba
sent to Congress tomorrow. provided the
tariff bill should by that time be passed
by the Senate. II Is the expectation Of
the President that the subject will re.
ceive the attention of Congress during the
present extra session of Congress.
The message was framed by the Presi.
dent himself. and like HIS other special
messages to Congress. states the necessitiss
of the occasion tersely. 1t vas prspsra1
by him after a consultation with cne @
two advisers. and submitted to the Cabi.
net as a whole only to-day, when It was
read in complete form.
1t recites the fact that the tariff bill has
passed both houses. and hopes II will 5000
be concurred in BY botn no-s-s. !" ~.
that acted upon, a subject of equal Inn.
portance, he says, demands immediate at
tention-that OF reform In our currency.
The message quotes from the Presidents
inaugural address, I'm which he said: "Our
financial system needs some revision. Our
money is all good now, but its value
must not be further threatened. IL should
all be put on an enduring basis. not SUBJ
ject to easy attack, nor Its stability 10
doubt or dispute. Therefore. / believe II
necessary to devise a system which.
without diminishing the circulating me-
! dium or Offering q premium for its con-
traction, will provide a remedy for those
arrangements which, temporary I'm their
nature might well In the years q our
prosperity have been displaced by wiser
| provisions. With an adequate revenue
| secured. but not until then. we can enter
| upon such changes in our fiscal laws az
| will while insuring safety and volume
to our money. no longer impose upon the
| government the necessity OF maintaining
| so large a gold reserve. with its attendant
| and inevitable temptations 10 specula'
| tion."
1t also cites the work and recommen.
| datlons of the Indianapolis Currency
| Convention. and says II the power IL
| vested in the President, 1t Is his pur.
| pose to appoint a commission. non-par.
| tisan. and consisting Of prominent. we'll.
| informed citizens, who VIII command
| public confidence.
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 reassembles In the frst term OF
| the next regular session.
The President, while believing that
| Congress will respond TO his message, is
not overconfdent. and there was some
difference OF opinion expressed by the
Cabinet as TO the fate the recommenda-
tion would meet at this session. The
majority. however, believed the oppor.
| tunity was at least n favorable one, and
that II was. at any rate, the duty OF the
| administration to do what II could ia
hasten the reform.