The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-12-23
20 carlisls currenev 81.


ment Of a currency reform law at this ses-
sion Of congress. That opinion is confirmed
b by the debate in the House on the Car
Isle currency bill. Each day the discus
sion Of the bill makes It clearer that there
are difficulties to be met and provided for
that were not forseen by Mr.. Carlisle or
the committee on banking and currency.
An effort has been made 70 overcome some
OF these difficulties by radical amend
ments to the Carlisle bill. a synopsis OF
yesterday. The amendments. however. do
not appear to increase confidence in the
bill among congressman or hnanciers.
The opinion is now freely expressed that
the committee acted unwisely in reporting
TO the House bill to which It had not
given careful consideration. and which it
did not indorse. What the committee
should have done is this: 1t should have
listened 10 the views of the ablest hnan-
clers Of the country and then it should
have reported bill it could defend upon
the floor Of the House. Il is true that 1t
listened to the views Of few New York
bankers. but it accepted practically none
OF the opinions advanced by them. 1t
acted as if it felt itself unable to recon-
mend a currency measure. In fact. it
said that it preferred the House to make
whatever amendments to the Carlisle bill
that it might be regarded as advisable to
make
The Carlisle. Lii has been commented
upon favorably in the south. because it
opens the way for state banks Of issue.
and places upon them less burdensome
conditions than upon national banks. But
state banks Of issue are not regarded with
favor in the north. and It is quite certain
that congress viii not pass any bill that
discriminates in the slightest degree in
favor of state banks.
The legal tender notes are one great
difficulty in the way Of the Carlisle bill
and they are likely to be in the way of
any banking and currency bill that may
be proposed. The Carlisle bill does not
provide for taking all Of them out of cir
culation. and as long as any considerable
amount Of them remains outstanding they
can be used for drawing gold from the
treasury, thus endangering the ability of
the government TO maintain gold pay
ments. 1t would not be at all surprising
If, before any currency reform bill were
passed, steps should be taken to fund all
the legal tender notes into short time
bonds bearing a very low rate of in
terest.
Another objection TO the Carlisle bill,
even as amended by the banking and cur
rency committee, is that it does not pro-
vide for uniform system of currency.
The people want only one kind of bank
note currency. They don't want anv pa
per currency that viii not circulate at par
beyond the borders of the state in which
it is issued. While in some localities state
banks of issue are favored still the desire
is that the notes issued by such banks
shall pass as freely anywhere as DO the
notes Of national banks.
It is clear that the democrats in con-
gress are anxious to enact financial legis-
lation of some sort. The wisest of them,
however. understand that hasty legisla-
ton on so important a matter as that OF
the currency is dangerous. A mistake
would do the party and the country far
more harm than the failure to pass cur
rency reform bill could possibly do. There
is a growing disposition, therefore, to
give the currency situation much more
careful study than it has yet received.
Unless a plan for reforming the banking
and currency system that commands very
general approval is proposed, it is doubt
full ifeeven the House will pass currency
reform bill
Lightwood Knots as Christmas Presents
If there is anything that is commoner in
Georgia than pine knots. it is pine boughs.
There isn't a native in the state who
would think of wrapping half dozen pine
knots in manila paper, or decorating a
couple Of pine boughs with ribbons. and
sending them TO friend as a Christmas
present. il the Georgian wished to pre-
sent his compliments in. pine, he would
do it by the cord, and have his remem-
brance dumped into the wood shed he
wouldn't send pine boughs. under any
circumstances
But mp in the northwest, where they
never get real good Whit of pine forest
fragrance, and spend about all the winter
at shoveling snow, the southern pine knot
and bough are exceptional winter holiday
concomitants that are INDUCED in only by
the fastidious folks. The Chicago Herald
tells us that the pretty southern pine
boughs and the quaint and gnarled knots
of the resinous tree make CHEEKY gifts
that promise to be the fashionable luxu-
ries of the season in Chicago this winter.
The way they get their pine boughs and
/ knots up there will strike Georgians as
being almost funny. The florists are the
/ people who handle the articles. Now, isn't
! the idea of going to a flower store for
an armful of fat lightwood" knots ludi-
/ crous? The wood and coal dealer in Chi