The Hocking sentinel. [volume] (Logan, Ohio) 1871-1906, 1897-08-05
CURRENCY COMMISSION PLAN.
Text of the Message Sent to Congress
by the President

Text of the Message Sent to Congress
by the President.
Following is the currency message sent
| to Congress by President Mckinley i'm
mediate'y after the passage of the tariff
bill:
| To the Congress Of the United States:
In my message convenlng the Congress In
extraordinary session called attention to a
single subject-that Of providing revenue
adequate to meet the reasonable and proper
expenses Of the Government. / believe that
to be the most pressing subject for settle
ment then: A bill to provide the necessary
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 better basis, which
/ commented upon In my inaugural address
In the following words:
'Our financial system needs some revision
our money Is all good, but it5 value must not
further be threatened. 1t should all be put
upon an enduring basis. not subject to easy
attack. nor its stability to doubt or dispute
The several forms of our paper money offer
In my judgment, u constant embarrassment
to the Government and imperil q safe bal
anco In the treasury.
Nothing was settled more clearly at the
late national election than the determination
upon the part of the people to keep their
currency stable in value and equal to that
Of the most advanced nations of the world
nowhere
questioned. No loss can occur to Its hold
ers. 1t Is the system which should he sim
plified and strengthened, keeping our mon
ey just as good as it Is now, with less ex-
pense to the Government and to the Deople
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 del
egates from twenty-nine States and Terri
tories, was held at Indianapolis In January
of this year. The financial situation com
manded their earnest attention and after n
two days session the convention recon-
mended to Congress the appointment of
monetary commission.
I commend this report to the consldera-
tion Of Congress The authors of the report
recommend commission "to make n thor
Ough 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 ar
tentiOn of Congress at the special session If
ought not to be postponed until the regular
session.
I therefore urgently recommend that n
special commission be created, non -nartisan
In Its character. to be composed ofSyelI-in-
formed citizens Of different parties who Will
command the confidence of Congress and
the country, because Of their special fitness
for the work, whose duty 1t shall be to make
recommendations of whatever changes In
our present banking and currency laws NAV
be found necessary and expedient and to re-
port their conclusions before Nov. 1 next. In
order that the same may be transmitted by
me to Congress for Its consideration at its
first regular session.
1t is to be hoped that the report thus made
will be so comprehensive and sound as TO
receive the support of all parties and the
favorable action Of Congress. AT all events.
such n report cannot fail to be Of value TO
the Executive branch Of the Government as
well as to those charged with public legfsIa-
tion and to greatly assist In the establish
ment of an improved system of finance
WILLIAM M'EINIEY