The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-07-25
EARLY ACTION FAVORED
PEOPLE WANT THEIR CURRENCY
STABLE IN VALUE.
REPORT WANTED BY NOVEMBER
Next to Tariff Reform, is the Establishment
Of Our Currency and Banking
System on Better
Basis,

Washington, d. c., July 24.-1 ~
President to-day sent the following mes
sage to Congress:
To the Congress of the United States.
In my message convening the Congress
in extraordinary session, | called atten-
ton to a single subject-that. of provid-
ing revenue adequate to meet the reason
able and proper expenses of the govern
ment. 1 believed that to be the most
pressing subject for settle,nen. then. A
bill to provide the necessary revenues for
the government has already pissei the
House of Representative and the Sen
ate and awaits executive action.
Another question of very great i'm
portance is that of the establishment of
our currency and banking system on a
better basis, which l commented upon
in my inaugural address in the following
words:
'.Our financial system needs some re-
vision; our money is all good now, but
its value must not further be threatened
1t should all be put unon 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, a constant embarrassment to
the government and imperl safe
balance in the Treasury"
Nothing was settled more clearly at
the late national election than the de-
termination upon the part of the people
to keep their currency stable in value
xl Il <apI
nations of the world.
The eoundneSs of our currency is no.
where questioned. No loss can occur to
its holders. 1t is the system which
should be simplifed and strengthened,
keeping our money just as good as it is
now with less expense to the govern
nent 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 mine States and Territories was
held at indianapolis in January of this
year. The financial situation commanded
their earnest attention, and after two
days session the convention recon-
mended to Congress the appointment of
a monetary commission.
I commend this report to the considera-
ton of Congress. The authors of the
report recommended a commission ito
make a thorough investigation of the
monetary affairs and needs of this coun-
try in all relations and aspects, and to
make proper suggestions as to any evils
found to exist and the remedies there
for"
This subject should receive the atten-
ton of Congress at its special session.
1t ought not to be postponed until the
regular session.
/ therefore urgently recommend that
a special commission be created. non
partisan in it's character. to be composed
of well-informed citizens of different
parties who will command the confidence
Of Congress and the country because
of their special fitness for the work.
whose duty it shall be to make recon-
mendations of whatever changes in our
present banking and currency laws may
be found necessary or expedient, and
to report their conclusions on or before
the first day of November next, in order
that the same may be transmitted by
me to Congress for its consideration al
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. Al
all events such a report cannot fail tc
be of value to the executive branch Of
the government, as well as to those
charged with public legislation. and tc
greatly assist in the establishment of an
improved system of finance.
(SigneO VIM. MKINLEY.
Executive Mansion, July "a, 1897.