The Durham daily globe. (Durham, N.C.) 1889-1894, 1893-12-29
BETTER LEFT ALONE!
Toe Question Of Currency Legislation
Causes DiscOrd.
The Secretary of the Treasury Sees VI
Need Of a Change.
is DANGER OF SOMETHING WORSE
The People Have Grown Wea of EndIes,
Discussions aud Prefer to work Out
Their Own Salvation.

Their Own Salvation.
W~AsHISGToN, Dec, 23.-[Special =
The democratic members of the house
committee on banking and currency find
as much difficulty in agreeing upon a
currency measure as do the democrats of
the ways and means committee in set
thing upon a policy for getting more rev.
enue from internal taxation. Various
plans have been submitted for their con-
sideration, but nothing has been evolved
from them upon which they could unite.
The most serious trouble they are hav-
ing is with the proposition to repeal the
tax on state bank issues. This, it seems,
has the right of way and no other bust
ness can be considered until it is dis
posed Of. q majority Of the democrats
on the banking and currency committee
are in favor Of repeating the tax, some
conditionally and some Internationally.
Two or three are opposed to repeal, as
are all the republican members, and these
together could dispose of the PROPOSE.
ton, but one of the democrats opposed to
repeal wants the question to go before
the house so hat it can be disposed of
there. 1t is this diversity of views that
blocks the way 10 the consideration of
any other plans relating to the currency,
and what VIII finally be done-for an
agreement on something must be reached
sooner or later-nobody can tell and it is
not worth while to guess.
In view of the fact that neither the
president in his annual message nor the
secretary Of the treasury in his report
made any reference to this question OF
the repeal CT &c tax in state bank issues,
it would seem that the advocates of re.
peal would abandon their efforts and
allow the question to drop out Of con,
sideration. 1t is obvious that no salts
factory plan can be devised for the con
ditional repeal Of the tax, vital object.
ions having been found to all the plans
thus far suggested. Besides, the advo-
Gates Of repeal, with very few exceptions,
do not want any conditions imposed.
They contend that congress had no
right to levy the tax, and that its con-
tinuence is an injustice and a wrong to
the states. They insist that the states
have a constitutional right to authorize
the issue Of bank currency and that the
federal government has no authority to
prompted the plank in the democratic
national platform recommending the re.
peal Of the tax. On the other hand, it
HOulu NC lulpOSSlOIC W pass q ElCdSuIC
for the unconditional repeal of the tax,
because there would be arrayed against
1t the unanimous vote of the republicans
and a sufficient number of democrats tC
defeat it. 1t is fairly to be inferred hat
tie administration is opposed to repeal
so that ever if it were demonstrated that
a majority in congress favored it there
| would be no prospect of its success
There is consequently nothing to justify
the advocates of repeal in keeping up
the agitation.
The president and secretary Of the
treasury both suggested that nc urgent
demand exists for now currency legisla.
ton, and it is perhaps of no great import
ance whether the banking and currency
committee agrees upon anything or not
1t is not to be expected that that com
mittee or the present congress will give
the country wise and useful currency
legislation. The danger is that if any,
thing is done it will make conditions
worse rather than better. Undoubtedly
the financial interests Of the country
would be satisfied If this congress were
10 give no attention whatever TO the
currency question in sEy form.
Green Goods.
Don't be tempted TO investi in them You
will get into trouble every time and in