The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-12-07

ranking democratic member Of the com
ruittee on banking and currency--Tbe mes
| sage In regard TO the currency, In my judg
mens is an utter failure. II the policy ads
yocated was carried out into law II could
| only result in the contraction of the GU
| rency. Under the arguments made by the
| president It would be the duty Of the gov
ernment TO redeem silver In gold upon the
| application Of the holder Of silver as read
| ily as IL does the United States notes. so
| n every paper dollar Of the government
was retired the raid could be made on tn.
| treasury Just as well with silver. In r.
| gard to the recommendations as to banking
| they areOf such charaCtes ~hat no business
bank would do business under such law.
Mr. Cannon. chairman Of the committee
| on appropriations said 81 am much graft
fed with thai irs.ure o. the nre<d snt $
message in which he saIF IT is u com
handing duty TO keep the appropriations
within the revenues Of tho government and
thus avoid a dofcieDcy.' The suggestion
is particularly timely Just now"
Chairman Dingley OF Maine cad: THE
message Is a practical state paper, wbic h
VIII be generally approved The president
ltcsenis some excellent practical sugge s.
tons as to the currency. What The pres-
den. says relative to Cuba viii, have no
doubt, meet TIE hearty approval of the best
sentiment Of the county,
Representative Hit (Rep.. M. chair
men 81 The committee on foreign relations:
nc message shows that the president has
promptly and effectively acted On the Iu-
ban question in fulfillment Of the sentl-
monis he had preyiouslJ Expressed on tue
Cuban struggle for liberty He ms pressed
upon the attention OF the spanish govern
ment the injuries our business intel ests
are suffering, the barbarous warfare under
Weyicr and the need OF change in the moda
OF government and Cuba. The result has
been the liberation OF every imprisoned
American, The removal and disgrace OF
Neyler, tne end OF the concentration and
starvation policy ard :he pres entation OF II
system OF self government largely based
on That OF Canada. Tho situation is vastly
different from tnat of a year ago
Representative Walker tRep., Moss).
chairman Of the committee on banking ard
currency, said as To the financial features
OF the message: IL fear the message Is nos
sufficiently specific aud does not 20 tar
enough to relieve the situation. IT does
mt recommend that anything shall be done
until the revenues exceed he expenditures
Of the government, which may lie many
months in the future and is FAR from I'm
mediate action. Secondly, the .'ecommend-
alton that greenbacks be not paiu out Ca
cept for gold when once redeemed In gold
n enacted into law would enable one men
with $1,000 600 of green5acks demanding
gold of the treasury and then lerositihg
the gold In the bank tor gteenbaclis, end
repeating the process 3iG ume9. TO relt,-
The whole 1916 600 5000 ia the uma it would
take him to vacilate between The slbtr' as
ufy in New York and his confederate iOr-
eign broker The recommendation that
banks be required to redo ther notes
in gold, with no other provision Of law.
would cause every bank In the country to
surrender It's circulation, and then What
agency would keep the county on Il gold
basis"
Mr. Richardson CDem., Tenn said: "1'ha
message ia wholly dlsappolntlg 10 the
country Nothing practical for financial
Improvement Is recommended"
Alr De Almond of Missouri: The mes
sage should be received with more favor In
Srain than In the United States And the
masses of our people can not fail 20 find N
It the cautious disclosure of a purpose to
retire The greoubacks, exrend,nk national
banking promote gold monornetnllism and
defeat bimetallism II is veal, In sub
stance and wrong in purpose, rhe most
notable thing about il Is the timA advance
toward the open advocacy of policies which
The American public condemn: