alue must not
further be threatened. It should all be put upon an enduring basis, not
subject to easy attack, nor its stability to doubt or dispute. Our
currency should continue under the supervision of the Government. The
several forms of our paper money offer, in my judgment, a constant
embarrassment to the Government and a safe balance in the Treasury.
Therefore I believe it necessary to devise a system which, without
diminishing the circulating medium or offering a premium for its
contraction, will present a remedy for those arrangements 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 in 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 a gold
reserve, with its attendant and inevitable temptations to speculation.
Most of our financial laws are the outgrowth of experience and trial,
and should not be amended without investigation and demonstration of the
wisdom of the proposed changes. We must be both "sure we are right" and
"make haste slowly." If, therefore, Congress, in its wisdom, shall deem
it expedient to create a commission to take under early consideration
the revision of our coinage, banking and currency laws, and give them
that exhaustive, careful and dispassionate examination that their
importance demands, I shall cordially concur in such action. If such
power is vested in the President, it is my purpose to appoint a
commission of prominent, well-informed citizens of different parties,
who will command public confidence, both on account of their ability and
special fitness for the work. Business experience and public training
may thus be combined, and the patriotic zeal of the friends of the
country be so directed that such a report will be made as to receive the
support of all parties, and our finances cease to be the subject of mere
partisan contention. The experiment is, at all events, worth a trial,
and, in my opinion, it can but prove beneficial to the entire country.

The question of international bimetallism will have early and earnest
attention. It will be my constant endeavor to secure it by co-operation
with the other great commercial powers of the world. Until that
condition is realized when the parity between our gold and silver money
springs from and