The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-12-14
From the Indianapolis sentinel.

l
| REPUBLICAN, SHAM. 1t is ouite owl
dent mat an effort will be made to rush
plan of alleged currency reform
/ through congress, and it is equally evil
! dent that no plan will be offered that Will
make any real difference in the situation
so FAR as the difficulty of maintaining the
| geld standard is concerned. The sole obiect
oil the so-called reform is to favor the Ma
| llonhl banks. The only part of Secretary
wages plan that is Endorsed by MIR. Me
h'niey Is the part relating to National
"""Ns-aiiowing them 10 issue to tine full
Vaiue Of their bonds and reducing II cir
c'rcuiatlcn tax to one-half Of Ier cent.
doubtless these 1avors iSould be ioyfrlIy
received by the banks, and doubtless the
banks VIII use all their powers to SECURE
theh' nut that they viii be of any adj
vantage TO the country is not appnrr,tt m
less indeed an initiation OF ps..-..-,,,onev
| 10 considered advantageous .ecretary
Hdge goes further still aud would mike
me ponds payable in gold. Of ties, So9L.-
VVVuuo are now deposited bV National hanks
70 secure circulation, and probably az fanny
III addition are hold by them for invest
men ne protit ON this change woi I'd ba
at least % per cent
But neither the plan PROPOSED by rrts,.
uent mckinley nor that Of Secretary Gage
pro'iues Tor an end to The endless cnain
VI removes the government OF the Itoossity
OF sold redemption. The PRESIDENTS man
uoes not provide for any action AT all rntil
the governments receipts shall ~. IN ~
cess OF its expenditures, and there is M
Prop@olllty that such a condition Ny ,iean
reached until some new revenue msa, nrc !,
adopted. And even then as N-. Win
SHOWS the plan merely provides a vav by
Whleh all the gold can be drawn oul of no
- s,e ~ nnIy secretary Cages plan leaves
Sl4o'uoo.uuo OF greenbacks In circliati,n nm
uet the existing laws aud this anounL Is
quite as effective tor drawing gold on q,
.hs treasury as any greater amount wruld
ue' III Is iair 10 assume that both a. them
re"llEe mat no power in tnis country can
" 'ei'ou upon TO maintain tne gctt stand.
a." eNVepe the government, AMI tba1c(ore
theY WIZ leave the government 10 r,oittsir
H. though at the same tina extensiya
iSNors are granted 10 the banks ON tha
lutopy mat they will maintain IN, ,oid
standard II has been SHOWN by III. off.
'lals OF the treasury that IL has for tv,s,,y
sears cost the government an aycrrre n,
S-l,Vov'uuV year TO maintain ITS p:per
m0hoy on q gold basis, ana ihsrs /, mar
the slightest probability that tho banks
would incur any such expense for mat rur.
pose vat fu''
Nevertheless a tremendous effort Win no
iutne 10 push these or ether e,ns .Iv futua
schemes through congress, undo. Ir,tcnsa
OF Iesorming the currency. but IA rtaIitv
20 iaVor the National ban\s and In Wow
OF TINS II is we'll 10 keen III nina The ,nn,-
ouS the country is acw expertencinr IN
regard to tariff legislation TIL. pn.sl,v
NV was rushed through unde~ a clamor a,
patriotism and honesty nr tho oIec.5
ground that 1t was necessary 10 nut ths
governments receipts IN cVesss II inc ev-
ptnntures Instead CT doing tia. il Va.
increased the deficit eGor.Aously al las
rH' me country in a really alhrLii11 rrrdi-
uon as 10 It's revenues. " tn, Same tina
lhe Dlngley law has served its real nur-
pose OF shutting cut foreign compeii,ion |
anu putting the people at the mercy az ina |
trusts and combines which c0ntslh,1,d ~ |
Mark hanna's corruption fml. The nrc. |
tense that II ever win furn 81 sufeeisn, |
revenue FOR the country IS aasnly am. !
aened by Secretary Cage IN bis repor, ~
ne estimates the deficit Tor the en-, ent vesr /
az SSSuoO,Oo0. and fer next ,.,r ~ slI do
wv There Is every reason to lfrevc ,h,, |
lhese are far below the 1gurss that win In /
taet appear, but they arc Susf,Nnt 10 show |
SECRETARY Gaee's opinion thar there vii, he |
no material decrease OF the deflrl. ~; |
year In view az this rsSnnmcn.ai fai,r,o
the country can not afford 10 be ,usl "a
mo another and even more t.srsrsrent |
hunoug under any pre-. ense Of pa.rlS tism.