The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-07-08
CONGRESS AND THE CURRENCY
M'KINLEY WANTS AUTHORITY To
APPOINT 4 COMMISSION.

A Message Suggesting the Enactment
of the Necessary Legislation to he
sent In To-day-The Action De-
cided ON at Special Meeting of
the Cabinct-Thc Message Already
Prepared by the President-The
Members of the Commission 10
Represent Both Parties.
Washington. July 7.-President NcKin-
lev last night called a special meeting Of
the cabinet for to-day. The regular meet
ing would not have occurred until Friday
and there We're some matters it was desir-
ed to give early consideration.
After discussion, lasting over an hour
the cabinet decided that the President
should send to congress a, message recon-
mending Legislation providing for a com
mission to adjust the currency question
of the country. It was resolved that this
message should be sent 10 congress to-
morrow, providing the tariff bill was by
that time passed by the Senate.
It is the expectation Of the President
that the subject will receive the attention
of congress during the present extra ses-
sion of congress The message was franz
ed by the President himself, and like his
other special messages to congress, states
the necessity Of action tersely. 1t was
prepared by him after a consultation with
one or two advisers and submitted to the
cabinet as a whole only to-day, when 1t
was reed in complete form.
1t recites the fact that the tariff bill
has now passed both the House and Sen
ate and hopes it will soon be concurred
On by both houses. With that acted upon
O subject of equal Importance. he says,
demands immediate attention, that of re-
form in our currency. The message
quotes from the Presidents inaugural ad-
dress in which he said: "Our financial
system needs some revision our money
is all good now, but it's value must not
be further threatened. It should all be
put on an enduring basis not subject TO
easy attack, or its stability to doubt or
dispute. Therefore, I believe It necessary
to devise a system which. without dim
inishing the circulating medium or offer
ing a premium for its contraction will
present a remedy for these arrangements,
which, Temporary in their nature. might
well In the years of our prosperity have
adequate revenue secured, but not until
then, we can enter upon such changes in
our fiscal laws as WILL while insuring
safety and volume to our money, no long
er impose upon the government the neces-
sity of maintaining so large a gold re-
serve, with its attendant inevitable temp
tations for speculations."
It also cites the work and recommenda-
9ion of the Indianapolis currency conven-
tion and says If the power is vested In the
President it Is his purpose to appoint
commission, non-partisan, consisting of
prominent, well-informed citizens, who
will command public confidence. The mes
sage closes with the hope that the con-
gress will enact legislation at this session
10 authorize this commission to be made
up of representatives of both parties, so
that the President may be prepared to re-
port to congress when IL reassembles for
the first term of the next regular session.
The President while believing that con-
gress will respond to his message, is not
ver-confident, and there was some diff
ference of opinion expressed by the cabi-
net as to the fate the recommendation
would meet at this session. The majority,
however, believed at least the opportunity
was a favorable one and that it was at
any rate the duty of the administration
10 do what 1t could to hasten the reform.