The representative. [volume] (St. Paul, Minn.) 1893-1901, 1897-04-07
{ g. KINLEY YIELDS
TO THE DEMAND OF THE EAST
ERN GOLD FORCES.
He Will Call ON Congress in Their
Behalf Shortly.

WASHINGTON, D. c.. April 5.-\Special.)
1t is regarded certain in admins
tration circles that President Nc
Kinley will call upon the spe-
cial session of congress to take ac-
tion on the currency question. The special
message is expected to go in as soon as
the senate consideration of the tariff bill
is safely commenced. The change IN the
presidents intention is undoubtedly due
to the onslaught of the Eastern gold press;
supplemented by the action OF the COM
mercial bodies at indianapolis demanding
a monetary commission. The gold press,
commencing with mild objections to the
tariff bill, have progressed until they are
almost united in rabd attack upon the
bill, and they are liable at any moment to
break out against the administration itself.
This wing Of the Eastern element, which
elected Mckinley, never took any stock in
tariff as a means for producing prosperity
but merely tacitly assented, expecting all
the time that the real Republican leaders
would show an intention of doing something
for monetary reforms. From day to day
they are becoming moro convinced that the
administration intended to rely solely upon
the tariff whereas during the campaign
they had affected to believe that the tariff
was a subordinate issue and that the cur
rency question would at least be given
some attention. They assisted to defeat
Mr.. Bryan because Bryans election was
the success CT the side opposite 10 theirs on
the money question, but when convinced
that the money question was TO be rele
gated entirely to silence, the gold press
have become furious. AS they saved the
Mckinley election, so now the administra-
f1n.,. a.
they unite against It. There nave oeen
numerous consultations within the last few
days. and the result is that Mckinley VIII
yield to the inevitable and may be expected
soon to make this known in q message to
congress-
At this writing 1t Is not believed that
he will be inclined to make any recon-
mendation, unless it should be for the ap-
pointment Of a commission. This will pos
sibly satisfy those making the attack for
the time beng. There IS & good deal OF
curious suspicion attached to the bill In
troduced by Mr.. Walker, authorizing the
issue Of SEQ, 600, 600 OF bonds at to 2la per
cent interest, for the basis OF retirement
Of the various forms Of government paper
money When the bill vas introduced little
attention was given it. and In fact 1t was
given out that it was done without auhor-
ity, and was perhaps Of 40 more signift-
canoe than the $500, 600 bill offered in
the last congress. But taking Mr.. Walk
ers position and the clamors Of the gold
press and the change in front OF the ad-
mtristration into consideration, there are
reasons 10 believe that the $3.50, ,000 600 bill
Is part Of well-nlatured plan for tho
national banks to jump in at this time
and secure what they are after namely,
retirement Of the sreenbacks and treasury
notes and the porpetuaton Of the national
bank system. The charters of all these
banks expire in 1902. 1t is apparent to
the banks that the Republican administra-
ton is not going to make any material
early improvement In conditions; that moth
Ing can possibly occur between now and
the congressional election Of 1898 which
will save the Republican party in con-
gress; that an opposition congress In 1898
means a change OF administration in l900
and the increasing antagonizements against
the national bank system Will render 1t I'M
possible for either extension OF their char
ters or for such change in the currency
system as will perpetuate these banks
Therefore, 1t Is action now or not at all,
and many in the best informed circles be-
lteve that the present special session will
be used by the administration to meet the
demand Of the banks, and that We shall
SEQ the country torn up over the precipita-
ton of these questions, perhaps, as much
during the present summer and fall as In
the last campaign; and this will undoubt-
edly come If there Is any specific action
proposed more than possibly the appoint
ment Of a monetary commission. II the
commission should be proposed r appointed
1t would probably not do more than en-
phasze the situation and the convention,
for such 1t would be regarded, that pros.
perity it not to be expected from the tariff