The Hazel Green herald. [volume] (Hazel Green, Wolfe County, Ky.) 1885-19??, 1896-02-13
AN INCAPABLE coNaRr IS.


N"~ psSsnacnt urgen congress not tC
take a holiday recess without masking
provision for pressing financial cIner>
gency. Congress did not adjourn. II
recognized the need of acton at once
II there was to be action in time 10 do
any good. Tie house passed tariff
Dill and n bond bill, neither of which
was of any use whatever for the pur.
pose of meeting the emergency.
Now we are told, after all this show
OF aiacrity on the part of the house,
that senators feel there is nc necessity
Tor them to make haste.'' bccau se
neither of these measures can pass
for many long weeks and perhaps
months" Therefore senators proceed
In the most leisurely way to complete
the organization of their house as n
republican body and then talk of adj
1ourning for week without attempt
ing to do anything in response to the
| presidents appeal.
thus we have q complete and dis
tressing demonstration Of the inca
pacity of either house of the present
congress to act nationally in situa-
ton which demands prompt action.
The one thing to be done was to pro-
vide for the maintenance OF gold pay
ments at a time when the gold reserve
was liable TO be exhausted in the alb
sence Of power to replenish 1t at once
by borrowing. The president asked
authority to borrow on the most favor
able terms and to protect the reserve
against further raids by canceling the
redeemed legal tenders or at least hold
ing them in the treasury SO they could
not be used again to empty the gold
vaults ~. IA y. 7 'gs..s< y
The house responded by passing
tariff bill, Knowing perfectly well that
= could not be passed and put into eff
fectSin lime to do any good, even if it
would bring in any gold when in effect.
and knowing Just as well that it would
bring no gold inso the treasury except
what was drawn out in exchange for |
legal tenders, It also responded by |
passing q bond bill depriving the presi- |
dent even Of the power he now has TO |
sell bonds for gold drawn from sources |
outside Of the treasury. In short the |
house passed two bills TO embarrass the
treasury, not to afford security.
And the senate confessed its utter in
capacity by placidly organizing as
republican silver body and going to
sleep with the presidents alarm he'll
ringing iii its ears. >" 4
What sort Of a congress is this to
deal with d state of affairs under which
~ may become necessary to raise large
sums of money? Suppose war should
break out between this coun-
try and Great Britain, how would we
fare financially2 New loans would
have to be authorized, for the treasury
department. has no authority to issue
bonds for war purposes or for any pur-
poses not specified in the resumption
net. But no reasonable loan act could
BE had from this congress Even if
he house should develop sense enough
% authorize a gold bond the senate J
would have none Of IL. ..~' .G.sE.
II war should break out now about
he first thing this congress would do !
would be to authorize great lot Of !
yreenbacks and silver certificates
lgainst alleged seigniorage. Suspen- t
ion Of gold payments would quickly 1
ollow The currency would depre-
late MS it did during tie civil war, y
'rices would 60 up TO correspond and s
he cost Of the war would be at least :
vice what it ought to be. And the !:
ebt would have TO De paid ii, sound ;
loney or the public and private credit 9
I the country would beruined.
War would be n double calamity 2
nth such q congress in the saddle. | I.
With the possibility Of war confront s
lg them people ought to be able 10 a
&c the Importance Ola sound and solid !,
'onetary system. They ought to see Z
nat the government never should cxer- -
sc the power to issue legal tender !,
otes except to meet some great exi- !,
ency, and even then should exercise
SO sparingly as not 10 cause depreci- !,
ion They ought to see that such =
,tes should be withdrawn completely =
the earliest moment after the pass
& of the exigeney- But this congress -
es nothing of the kind. 1t is far less -
pabie of enactingwise financial meas ~
res than were the war congresses of
81 and 1S65.-Chicago Chronicle.