The Irish standard. [volume] (Minneapolis, Minn. ;) 1886-1920, 1897-07-10
CURRENCY REFORM.
Cabinet Advises President to Send
Special Message. =.
THE DOCUMENT ALREADY PREPARED.
IT Will he Presented to ConEyess Inns
mediately-An Outline of the REQ. ;
concentrations of MT. Mckin.
Icy on the Subject.

Washington, July 8. - After dis.
cussion lasting more than au hour tho
cabinet Wednesday decided that the
president should send to congress q
message recommending legislation pro,
viding for a commission to adjust tho
currency question of the country. :
It was resolved that this message
should be sent to congress to-day. tits
the expectation Of the president Mat
the message will receive the attention
Of congress during the present extra
session.
Outline of the Message,
The message was framed by the pres1
ldent himself, and, like his other special
messages to congress, states the neces.
stiles of the occasion tersely. It was
prepared by him after consultation
with one or two advisers and submitted
to the cabinet as whole only on
Wednesday, when it was read in com.
plete form. It recites the fact that tho
tariff bill has now passed both tho
house and the senate, and hopes that
1t will soon be concurred in by botH
houses. With that acted upon, SUBJ
tect of equal Importance he says, de-
mands Immediate attention-that Of
reform IN our currency. The message
quotes from the presidents inaugural
address, in which he said:
"Our financial system needs some re-,
vision; our money is all good now, but itA
value must not be further threatened, Il
should all be put on an enduring basis, not
subject to easy attack nor its stability I'd
doubt or dispute. Therefore 1 believe Il
necessary to devise a system which withi
out diminishing the circulating medium oil
Offering a premium for Its contractiot1I
will put remedy for these arrangement
which, temporary in their nature, might
Well IN the years of our prosperity have
been displaced by wiser provisions. With
adequate revenue secured, but not until
then, we can enter upon such changes n
our fiscal laws as will. while insuring safety
and volume to our money, no longer impose
upon the government the necessity OF
maintaining SO large gold reserve, with
Its attendant and inevitable temptation to
speculation"
VIII Ask for Nine Commissioned,
The president will ask authority ia
name nine commissioners and for an
appropriation for the expenses Of tho
commission, but will make no suggea,
ton as to the political OF other compot
.sition Of the commission, nor will h(
make any suggestion as to the lines d
investigation. He will simply call at
tention to the necessity of u reform Il
our currency aud national banEnA
laws, and state that in his opinion thl4
reform is equally important with thS
enactment OF a protective tariff law
It also cites the work and Recommend
dations of the indianapolis currency
convention, and says if the power Il
vested in the president it is his purpose
to appoint commission, nonpartisaui
consisting of prominent, well-informed
citizens, who will command public conf
fdence. The message closes with thu
hope that the congress will enact legl
islation at this session to authorize th3A
commission, to be made up of represent
tatives of both parties, so that the press
tdent may be prepared to report to con-
gress when 1t rcassembles in the first
term of the next regular session.
Not Over-Conhdcnt.
The president, while believing that
congress will respond to his message,
is not overconfdent, and there was
tome difference of opinion expressed by
the cabinet as to the fate the reoom-
mendation would meet at this session.
The majority, however, believed the OPT
portunity was at least favorable one,
and that it was at any rate the duty Of
the administration 10 do what it could
fo hasten the reform