The Corvallis gazette. [volume] (Corvallis, Or.) 1862-1899, 1897-07-30
A CURRENCY COMMISSION.
The Presidents Message Recommending
the appointment.


Washington, July 27.-The presi-
dents message, recommending the ap-
pointment of a currency commission,
is as follows:
"To the Congress of the United States:
"In my message, convening congress
in extraordinary session, called atten-
ton to single subject-that of provid-
ing revenue adequate to meet the rea-
sonable and proper expenses of the
government. 1t seemed to be the most
pressing subject for settlement then.
A bill to provide necessary revenues for
the government has already passed the
house of representatives and the senate
awaits executive action. Another
question of importance was that Of the
establishment of our currency and
banking system on better basis, which
1 commented npon in my inaugural
address in the following words:
Our financial system needs revis-
ion; our money is all good, but its
value must not be further threatened.
1t should all be put upon an enduring
basis, not subject to easy attack. The
forms of our paper money offer, in my
Judgment, constant embarrassment to
the government, and imperil safe
balance 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
the most advanced nations of the world.
The soundness of our currency is no.
where questioned. No loss can occur
to it's holders. The system should be
simplified and strengthened, keeping
our 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 con-
gress in this direction to revise. our
currency laws and remove them from
partisan contention. A notable assem-
bly, of business men, with delegates
from 30 states and territories, was held
at Indianapolis in January Of this year.
The financial situation commanded
their earnest attention, and after two
days. discussion, the convention recon-
mended to congress the appointment OF
monetary commission. l commend
this report to the consideration of con-
gress.
''The authors Of the report recon.
mend a commission to make a thorough
investigation of the monetary affairs
and needs of this country, in all rela-
tions and aspects, and to make proper
suggestions for any evils found to exist,
and. the remedies therefor. This sub.
ject should have been called to the
attention of congress at the special ses-
sion. It ought not to be postponed till
the regular session. therefore urge
and recommend that special commits
sion be created, non-partisan in its
character, to be composed of well-in'
formed citizens of different parties, who
will command the confidence of con.
gress because of their special fitness fol
the work, whose duty it shall be te
make recommendations of whatever
changes in our present banking ano
currency laws may be found necessary
and expedient, and to report their con-
clusions on or before the first day o.
November next, in order that the same
may be transmitted by me to congress
for it's consideration at it's first regular
session.
''It is to be hoped that the report
will be SO omprehensive and sound al
to receive the support of all parties and
the favorable action of congress. Al
all events, such report cannot fail tt
be of value to the executive branch o'
the government. as we'll as to those
charged with public legislation, ant
greatly assist in the establishment o'
an improved system of finance.
ttWILLIAM M'KINLEY.
Executive Mansion,
Gully 81, 1897"