The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-10-25
THE MONETARY COMMISSION.
PREPARATION or ITS CURRENCr
MEASURE TO BEGIN NOV. 3.

Its Report VIII Probably BE Clear
statement OF The Facts and Argu-
mental support of Its RecOmmen-
dntions-Many Financial Experts
Respond With Their views to tue
CcmmisaiOn's SOIicitatiOn-NO De-
sire for the Withdrawal oa
GrccnbacISs and Treasury Notes.
One Financicr Thinks the Revenuo
and Finance Departments Should
BE Separated.
Washington, Oct A.-When the mone-
tary commission reconvenes on Nov. 3
II will be ready to begin the preparation
of it's currency measures and the report
thAt win accompany it. The measures
itself will not be one Of great length.
and It Is probable that the report, instead
Of attempting to give a digest of all the
suggestions and testimony before the
commission will conhne itself to a clear
statement Of facts and terse argument in
support of the measure agreed upon.
The people generally have responded
very freely to the invitation of the com-
missioners to contribute their views and
has received in this way very. fair yield
of public opinion upon the subject i'm
every section OF the country.
Almost every writer has some suggestion
to make as to the place that silver should
hold in the currency of the country A
number of men suggest the acceptance OF
silver In unlimited quantities with the is
suauce OF certificates at market rates for
the bullion with redemption OF these cer-
tincates when presented az ruling mar
lsct rates. But the plain effect Of this plan
would be to make the silver certihcats
nothing more or less than warehouse re-
ceipt with the government acting as the
warehouse man, other suggestions that no
paper money of less than $40 denomination
be issued in any form, thus requiring
larger circulation of silver dollars and sub
eidlary coins. But tho experience OF bank
ers has been that the small notes have an
enormous popularity.
The commission asked a number of
questions OF a number of financial experts
and men Of large exNerence in financial
affairs. The tenor of the re-
plies received is conservative and
demolishes the rather widespread
notion that there is a desire among
men Of this class for the withdrawal Of
the BfeenDdckS ana treasury notes. one
of the best-known flnanclers of the coun-
try, who recently submitted his views to
the commission on request, said to the AS
sociated Press representative in discuss
ing the work OF the commission: II think
the revenue and finance departments Of
the government should be completely sep
arated. ReYenue is one question and the
problem Of currency and banking is an
other, and in their details they have no
proper connection. / should like to see
our varlegateG paper currency unified into
two sections coin certificates and silver
certificates, the coin certificates to
be confined to denomination of SIC
and the silver certificates TO s.,
81 and 81 bills. gradually Withdrawing all
silver certificates Of denominations high
er than IS. The treasury should hold a
gold reserve equal TO 25 per cent of the
coin certificates, and the Secretary of the
Treasury should be authorized TO cancel
all coin certificates when paid in gold. He
should have authority to maintain the
gold reserve at all times by purchasing
gold with surplus cash In the treasury
and short-time obligations of the govern
ment. The tariff laws should be so adj
justed as to insure a small surplus revenue
and when they do not, the Secretary of the
Treasury should be authorized to borrow
enough upon short-time obligations to-
cover any deficiency In the revenue