The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-01-06


VIII this congress pass a banking and
currency bm@ The impression In Wash
ing-on ana throughout the country is
that it uili not. Its failure TO 20 so will
rot Dee because e. does not believe tha-
the outflow Of gold. and the distrust 81
American securities abroad and the gem
eral iudisrositIon of capitalists TO put
money in new enterprises are due TO lack
Of confidence ia the currency. but because
IL does not know what 90 90 90 put the
currency upon "a sound. safe and satisfac-
tory basis. There are several schemes
for financial legislation, but no one Of
them appears 20 Doe wholly satisfactory.
There are objections 90 each one Of them.
and these objections are presented with
convincing force. There are no men ln
congress who appear 20 be able 10 solve
the currency problem. or IL there are they
DO not seem 70 bee able 20 show that their
solution is the right one.
The suverites insist that the way out
OF our difficulties is the free and unllmit-
Cd coiua~e of silver The bankers say
that the Baltimore currency plan is a
cure for all our financial Ills. The polu-
clans. OF at least the democratic poIti-
clans. believe the Carlisle banking and
currency hin is the right remedy. and
able nnanciers contend that bonds OF
small denominations, 90 the amount Of
$500 900 or si00.o00.0oo bearing low rate
Of interest should be issued and the legal
tender notes retired.
Within the last few days the belief that
the legal tender notes must be got rid of
has become quite general 1t is agreed
that they are the cause Of a great part of
our financial troubles, and that no per
manent settlement Of the currency ques-
ton is possible until they cease 10 be
factor in the currency. II is certain that
they are exceedingly helpful in drawing
gold from the treasury.
If congress knew what to do to put our
currency upon a sound basis it would act
at once. IT recognizes the fact that the
financial situation is not free from peril
and it knows that the longer remedial
legislation is delayed the greater the dan
ger becomes. our banks are stuffed with
money which they are afraid TO loan on
security they would accept in ordinary
times and European investors are refus-
ing 10 take any more of our bonds In
deed. they are getting rid of those they
have. They are steadily losing confidence
in our ability 70 return them as good
money as they paid for. our securities.
There can be no foundation for the
statement that has appeared in several
dispatches from New York that the lead
ing hnanciers of that city have lost con
hdence in the Secretary of the Treasury
and are trying TO force him TO resign
There may be spectators there who have
selfish schemes which Secretary Carlisle
obstructs but there is no good ground for
thinking that the patriotic bankers Of
New York would regard his resignation
as fortunate for the country.
The financial question overshadows
every other SO anxious and urgent is
the country for settlement of it that
it would be willing almost to accept any
kind of financial legislation rather than
have no legislation nj all. And vet crude
and hasty legislation might be productive
Of more harm than good
Still the people cannot be blamed for
being impatient. They believe there is
danger in delay, and il congress should
finally adjourn without enacting any cur
rency legislation they would be very free
and bitter in their criticisms of it.