Baxter Springs news. [volume] (Baxter Springs, Kan.) 1882-1919, 1890-12-13
a RADICAL CHANGE.

Policy FREQ Coinage and Moro Green
backs to he Favored.
WASHINGTON, Dec a-President Har-
rison is for free coinage OF silver He
has committed himself 10 bimetallism.
His Administration will work to this
end as rapidly as safe fnanciering will
Justify. Minister Reid has already re-
ceivcd his instructions to open negoti-
ations with the French Government for
an international monetary conference.
Minister Lincoln and Minister Phelps,
rs soon rs they reach London and Der
lin will lay before Great Britain and
Germany the propositions OF this Gov
ernment From informal assurances al-
ready received 1t Is believed that these
Powers, especially France and Great
Britain. will join the United States in
arranging for the permanent remonetiza-
ton OF silver. But the movement to-
ward the adoption OF an international
agreement Of bimetallism Is only one
feature OF the vigorous financial policy
which this Administrati Is about to
inaugurate. The President and the
truo friends OF silver are now working
together. Plans had not advanced far
enough to warrant an outline Of them
when the message was sent to Congress
That Is the reason the Presi-
dent did not make definite sug-
Gestiona Conferences are now
being held daily. The financial meas
ures which the Administration pro-
posed TO stand by are being drafted
with great care. They are to be placed
before Congress ut the earliest practica.
BILE moment and then tho new financial
policy OF the Republican party will be
made known to the world. This policy
can be summarized in just two words.
The words are more money" The
President has declared himself for
''more money" He is satisfied that
the country needs it He is ready for
an aggressive policy. All no asks is
that the steps to be taken shall be thor
olghly considered, so that they may
not have to retrace them.
One step which the President Is al
ready considering seriously tends di-
rectly toward free coinage OF silver.
The proposition is to buy at once the
surplus silver in the country. The
amount Is about $4,000, 900 ounces 1t
IL thought that II this surplus is out OF
the way the present silver law will con-
sumo the product as rapidly as it Is
turned out Silver will go to 100 or
arathere, and remain fixed After
few months OF this fixed valuation, BIZ
metallism will be most natural step.
1t is admitted by all that the silver law
has not operated as was expected. The
effect OF the law has been to unsettle
silver, and foreign exchange with it. A
new field has been opened to speculht, on.
In fact the silver law has done more
harm than good. The fault the friends
OF silver claim, is found in the exist
ence of this big surplus OF silver out
standing in the country. II thatsurplus
is bought in, and the policy OF free coin
ago. az soon as it can he safely adopted,
is declared, 1t is argued that silver will
advance to 137 or Whereabouts, and re-
main steady. This is part Of what the
Administration now has in view. But
it Is not all A resolution inst-ucting
the Secretary Of the Treasury to buy
in open market IA, OOO, 900 or Is, 600, 900
ounces OF silver at not more
chan par, will be only one OF
che propositions The President has
been giving great deal OF thought OF
Late to financial questions He has be-
como thoroughly convinced that the
country must have more money He
recognizes that the greatest OF issues is
now at hand, and he is going to meet It
Republican Senators from the West are
surprised to find how much aroused Mr.
Harrison is upon this matter
The President has analysed the farm
eTs' movement and he sees the element
Of justice in it which cries out against
the contraction Of the currency. The
President has heard from the bankers
and business men. He has made up his
mind that the majority of the people
and Of the business interests call for
more money, and he is ready to do
what he can to commit the Re-
publican party to the policy OF more
money. Free coinage is to be but
one Of the means to the end OF an
expansion OF the currency. Another
means may be the issue Of large
amount of legal tender notes The sum
OF $50. 900 900 has been suggested. This
proposition is now under consideration.
Il Is admitted that the addition of
silver will not be enough. Other plans
must be devised to increase the cur
rency, and the issue OF legal tender Is
urged by some Of the Republican lead
ers who are working out this
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