The Lafayette gazette. [volume] (Lafayette, La.) 1893-1921, 1896-02-29
AN INCAPABLE CONGRESS.
Distressing Incapacity Of the Republican
House.

AN INCAPABLE CONGRESS.
Distressing Inc.pacity Of the Republica,
The president urged congress not t.
take n holiday recess without making
provision for q pressing financial emer
gency. Congress did not ad journ. 4
recognized the need of action at once
If there was to be action in time to de
any good. The house passed q tariff
bill and a 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 alacrity on the part of the house
that senators feel there is no necessity
| for them to make haste,' because
neither of these measures can pass
for many long weeks and perhaps
months.' Therefore senator's proceed
in the most leisurely way to complete
| the organization of their house as a
republican body and then talk of adj
journing for q week without attempt
ing to do anything in response to the
presidents appeal.
Thus we have q complete and dis
rressing demonstration of the inca
pacity of either house of the present
congress to act nationally in a situa-
ton which demands prompt action.
Tho one thing to be done was to pro-
vide for the maintenance of gold pay
1nents at time when the gold reserve
was liable to be exhausted in the alb
sence of power to replenish it 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.
The house resnonded hu ross;-- a
tariff bill, knowing perfectly well that
1T could not be passed and put into eff
feet in time to do any good, even if it
would bring in any gold when in effect,
and knowing just as we'll that it would
bring no gold into the treasury except
what was drawn out in exchange for
legal tenders. It also responded bv
passing a bond bill deprivinf: 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 it's utter in |
capacity by placidly organizing as u
republican silver body and going to |
sleep with the presidents alarm bell |
ringing i'll its ears. |
What sort of a congress is this to |
deal with Il state of affairs under w hich
It may become necessary to raise large
sums of money? Suppose war should |
suddenly break out between this coun-
try and Great Britain, how would we
fare financially? New loans 1vould
have to be authorized, for the treasury
department. has no authority to issue
ponds for war purposes or for any pur-
0oses not specified in the RESUMPTION |
let. But nd reasonable loan act could
'e had from this congress. Even if
he house should develop sense enough
o authorize q gold bond the senate
would have none .; it.
IT war should break out now about
he first thing this congress would do
would be to authorize a great lot of
and silver certificates
gainst alleged seigniorage. Suspen-
ION or gold payments would quickly
GLOW. The currency would depre-
late as it did during the civil war,
rlces would go up to correspond and
he cost of the war would be at least /
vice what it ought to be. And the ,
ebt would have to be paid in sound ]
,oney or the public and private credit I
the country would be ruined. !
War would be a double calamity ,
nth such a congress in the saddle 7
With the possibility of war confront
1g them people ought to be able to 6
.e the Importance of a sound and solid i
system. They ought to see 6
Sc the power to issue legal tender ]
otes except to meet some great ext '
ency, and even then should exercise j
so sparingly as not to cause depreci- t
Ion. They ought to see that such ]
otes should be withdrawn completely r
the earliest moment after the pass I,
g of the exigency. But this congress /
es nothing of the kind. 1t is far less
IPable of enacting wise financial meas n
res than were the war congresses of t
61 and 1S65.-Chicago Chronicle.
Protectionist TrIckeJy. u
There is much talk in the organs of a
e revenue emergency bi1l,' as the t
opposed revival of McKinlcyism on a il
oderate scale is called; and there is c
| apparent belief on their part that r
g president can be cajoled or bull Il
zed into signing the bill-ii the sem 81
e should pass it-on the ground that o
is what he asked for. If it really t;
ere what he asked for there would be O