Highland recorder. (Monterey, Highland County, Va.) 1877-1972, 1913-07-04
PRESIDENT URGES
MONEY REFORM
For Second Time Reads Mes.
sage to Congress.
NEEDED AS TARIFF AID
chanue In the Currency System the
Only Way 10 Benefit Revision, Con-
uressmef1 and Senators Are Told.

President Wilson, for the second
time since his Inauguration, appeared
before both houses Of congress in joint
session and addressed them in advo-
cacy of legislation which he deemed
of an imperative nature.
The fist occasion was last April at
the opening OF tne special session Of
congress-, when the president shatter-
ed the precedent of more than CEN
tury and appeared personally before
congress, instead of sending written
message, to urge the immediate down
ward revision of the tariff. Mondays
event was no less important and none
the less interesting, the galleries OF
the house being crowded long before
the entrance of Mr., Wilson.
The purpose of the president was
to urge the immediate enactment or
the banking and currency bill, pre-
pared by Representative Glass, chair
man of the house banking and cursen-
cy committee; Senator Owen, head OF
the similar committee of the senate,
and Secretary of the treasury Nc
Adoo. This Mr.. Wiyson did, emphati-
cally but tersely, the delivery of his
address from the speakers rostrum,
where Speaker Clark presided with
Vice President Marshall at his side,
and the entire formal ceremony las
ing less than half an hour.
n
gress, through the enactment OF the
pending tariff law, was about to set
free the business men and industries
of the nation and that this work must
be supplemented by providing an elas-
tic currency with safeguards to pre-
vent the concentration and control OF
money in any one place.
He asserted that this reform OF the
currency would be needed now more
than ever, in view of the new tariff
conditions, and that congress could
not shirk the duty of providing at
once the means for business to take
advantage of the opportunity present
ed to it in the Democratic revision OF
the tariff. He said further:
ut is absolutely imperative that we
should give the business men OF this
country a banking and currency sys-
EN- by means Of which they can make
use of the freedom of enterprise and
of individual initiative which. we are
about to bestow upon them. We are
about to set them free by removing
the trammels of the protective tariff.
ut is perfectly clear that it Is our
duty to supply the new banking and
currency system that the country
needs, and that it will Immediately
need it more than ever.
1--WE must act now, at whatever sac
rifice to ourselves.
1--WE must have currency readily
and elastically responsive to sound
credit, the expanding and contracting
and credits of everyday transactions. .
The administration currency bill
was not introduced in the house az ex-
pected. Representative Glass explain
ed that until some details were chang
ed he could not present it to the
house. He expects to introduce the
bill this week. r
The presidents address was deliver
ed to the joint session of congress.
The members of the senate, led by
Vice President Marshall and the Sec.
retary of the senate, James NJ Baker.
marched into the hall of the house.
The senators were seated on the Dem
ocratic side well to the front, while
the vice president was received by the
speaker and escorted to a seat on the
platform.