Evening star., 1897-07-27
Will Do the Work Of the Proposed
Currency Commission.
GATHERING VIEWS ON TEE SUBJECT
The Secretary Will Make a Full
Report in the Fall.
NO GISLATION LIKELY

The declaration of Representative Payne
of New York that there can be no currency
legislation during the present Congress has
attracted some attention. The situation in
Congress which he points out is one con-
corning which no one Is in ignorance. Yet
there has been, in the discussion OF legis-
tive anairs general assumption that the
currency question is to follow the tariff.
1t Is not believed that the administration
has any hope of accomplishing anything
in the way of currency reform during this
Congress. 1t is thought that if the Presi-
dent had hoped for legislation he would
not have sent to Congress the recommended
tion he did just at the close. The idea of
commission was first suggested by the be-
lief that no legislation would be possible
while the Senate stood for silver, but that
perhaps the Senate might not object to the
appointment of commission, which would
not affect the situation at all. 1t was
reasoned that If the question was under
consideration by some authorized body of
investigators it would be notice to the
country that the administration was not
ignoring the matter. 1t is regarded as
doubtful whether the probability of Con-
gress accepting any suggestions a commits
sion might make has been seriously dis
cussed. If the republicans were in control
in the Senate, as in the House, there would
have been no thought of a commission.
There is no opening for a renewal of the
commission proposition at the opening Of
the next session. unless that method is
adopted of postpOning the question until
another Congress.
Secretary Gage to Investigate.
The understanding is that Secretary Gage
entertains the opinion that the admnistra-
tion should not take into consideration the
situation of affairs in the Senate, but
should work as earnestly in favor of cur
rency reform as if there We're some pros
pect of securing favorable legislation. 1t
is expected that he will conduct such COM
rrehensive inquiry into the subject of our
national currency as was contemplated in
the commission idea, and will make very
exhaustive report to Congress in December
with recommendations of radical reforms
Ever since he has been in the Treasury
Department he has given more or less at
tention to securing the views of leading
bankers and business men.
When it was determined that the COM
mission message should not be sent to
Congress until after the tariff was disposed
Of it was thoroughly understood by bot b
the President and Mr.. Gage that there
would be no commission authorized, and,
therefore, Mr.. Gage has been preparing to
assemble all the information possible him
self without the aid of commission. He
obtain views on the subject and he is ex-
pected to avail himself of such voluntary
assistance in this line as bankers and busi-
ness mems associations may offer.
His work will be done in the face of a
pretty fair prospect that when the result
of his efforts goes to Congress it will be
buried i'll committee.
Opposition to Legislation.
1t Is evident, as indicated in Mr. Payne's
statement. that the currency question can
not be taken up at the next session with
out meeting the resistance of some who,
though anxious for currency reform, are
opposed to agitation under circumstances
which preclude the possibility Of beneficial
results. Nevertheless, it Is thought that
the Presidents present idea, supported by
the opinion of Mr.. Gage, is to do all in his
power to make currency legislation a fea-
ture of the regular session of Congress, as
tariff was of the special session. There
will be considerable said the subject,
however, by leading republicans of both
the House and Senate before the program
is fully formula ted. Those who are opposed
TO a purely spectacular fight are hoping
for such an Improvement of business con-
dltions under the operation of the new
tariff that the administration may be per-
suaded not to run the risk of disturbing
things by starting financial agitation in
Congress with all its vagaries.