The San Francisco call., 1897-12-07

come gold certificates and will be immedi-
ately retired
Representative Deliver tR.) of Iowa
said: Tine Presidents me essage is a clear
aad conservative statement OF the
national situation. As 10 the currency
question the Presidents omis ion to urse
III detail the most radical reforms pro-
posed by Secretary Gage indicates that he
Will exercise good deal OF charity to-
ward Congress if that body stould fail TO
gei together on the question"
Representative Hit (R OF Illinois,
chairman of the Committee on Foreign
AHalrs-Ihe message shows tnat the
PRESIDENT has promptly and effectively
acted on the Cuban question. tie has
pressed upon the attention of the Spanish
Government the injuries our bus ness in
terests were suffering, the i'm prlsonment
OF American citizens the barbarous war
fare under Weyler and need OF change in
tue mode OF government in Cuba. The
result has been the release OF every I'M
prlsoned American; the removal and dis
grace OF WeyIer; the end of The concen-
tralon and starvation policy and the
presentation of a system of SELF govern.
ment largely BASED on that OF Canada.
When our suggestions have thus all been
accepted and are being carried out in ap-
parent good faith, which is shown by the
opposition in Spain, be wisely thinks chat
| good faith on our part requires that We
let the measure We ourselves suggested be
| tired at least until we can see whether the
Cubans themselves will be satisfied. The
situation is vastly different from that of a
year ago.
Representative Walker (R.) of Massa-
chusetts, chairman of the Committee on
banking and Currency, said, as to the
nnanclal features of the message: 81 fear
the message Is not sufficiently specific and
does not go lar enough 10 relieve the situ-
alon. lt does not recommend that any,
| thing shall be done until the revenues ex-
| ceed the expenditures of the Govern
ment, which may be many months in the
| iuture and is far from imm ediate action.
secondly, the recommendation that green
| oacks be not paid OUT except for gold,
when once redeemed in gold, if enacted
| into law, would enable one man with
| 81, ,OOOOOO OF greenba backs demanding gold
| OF the treasury and then. depositing the
| gold IN the bank for greenbacks, and, re-
peatlng the process $40 times, TO retire the
| whole $546. 900 OO0 in the time 1T would
| take him TO oscilate between the su b.
| treasury i'll New YORK and his confederate
foreign brokers. The recommendation that
| banks be required 10 redeem their notes in
| gold, with no other provision of law, would
| cause every bank in the country to surTen-
| der lis circulation, aud then what agency
| would keep the country on gold basisT"
Representative Henderson (R.) OF Iowa
i am pleased with the Presidents mes
|
| every vital and pressing question. On the
| money question he is Clear, stating our
| situation with marked Intelligence, point
| ing out our dangers and making certain
| recon meudationS that would certainly, IL
! adopted, present. for the present, aIleast,
| disasters that we have experienced in the
past. On the Cuban question his course
| has been active. ia nlellgent, patriotic and
/ wise.
Representative Hull (R.) of Iowa. chair
man of the committee on Military Affairs
| The recommendations as to currency
| reform are more moderate than L ex-
| pected. l cordially indorss the Presidents
position as to the Hawaiian Islands. but
cannot agaee to his suggestions as to Cuba.
| Representative Bland Cd of Mis-
| sourl. the recognized Free sly yer Demo-
/ cratic leader, SAID "The Presidents pro-
! position TO retire the greenbac&s by hold
| ing them In the treasury except for gold
| deposits, m cans a contract OF the cur
rency to the amount OF the greepbacks so
| impounded. His statement of the situa-
| tion TO international bimetallism will
not be accepted in earnest by anybody.
! There are few serious International BIZ
metailists but among them l suppose the
President may BE- class as one. The
message on a u subjects sounds apologetic
| and like an atfid W.T. ior continu4nce."
! Rep~esen iaIive Cox CD OF Tennessee,
| the ranking Demo :rauc me Der OF the
! Commtttee on Banking and Currency
| The message IN ard to the currency
IN my Judgment is an inter failure. Ii
the policy advocated was carried out in
| law II could only result ia the contraction
! of the currency. Under the arguments
| made by the President il would be the
! duty OF the Government 10 redeem silver
| in gold on the application of the holder of
| silver as readily as it does the United
| States notes. So fevsry paper dollar of
| the Government was retired The raid
| could lie mads on the Treasury Just as
| well with silver. In regard to the recon-
mendatiols as to banking they are OF such
| a character that no bus ness bank would
/ DO business under such law.