The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-12-07
CAN'T REFORM THE CURRENCY.
SENATORS WHO COMMENT ON THE.
MESSAGE OF ONE MIND.

AhS Governments IL HleuSeU To
Maintain Gold RcdemptiOn-Senn-
tor White of the Finance Commit
tee Inclined To Treat the Matter
JOcuInrIy.
tors We're generally averse to expressing
any opinion on the message.
Senator Roach was an exception to the
rule in this class He called especial at
tentton to the Presidents declaration
that the government is pledged to main
tain gold redemption This" he said,
rs mere assumption. We have not a
single obligation which is not explicitly re-
deemable in coin the word gold being
mentioned in none of them"
Senator White OF California, a member
of the tianuce committee, was disposed TO
take the message joculariy. He said:
THE message is very elaborate, though
It's conclusions are somewhat Veiled. |
regret that | cannot agree with the Pres-
dents Hawaiian notions, and that he has
failed 70 inform us what we ought to do
concerning Secretary Cages great cur
rency reform plan. | am glad to observe
that he adopts the views ! have frequently
urged regarding Cuba and executive ju-
risdiction upon the subject of belligeren-
cy."
Views by republican senator's, were eX-
pressed as follows.
Senator Auson--I do not take the de-
spairinS view concerning our currency
which the President presents. While there
are some improvements which / would
Ike to see made, | think we shall be able
TO get along if we do not get any cur
rency legislation, and as the situation pre-
sents itself now, it looks as if 1t might
be impracticable to secure legislation on
the lines of the Presidents recommenda-
ton The recommendations in regard to
Cuba are humane ana considerate.
Senator Hale-The recommendation in
regard to Cuba Is, in all respects admir-
able and one with which l am much
pleased. On the subject of the finances
the President does not press for immediate
action and as for myself, l do not believe
that such would be possible under the cir
cumstances.
Senator Hoar-It struck me as a wise,
compact and carefully considered docu-
ment
Senator Foraker-As a whole, the mes
sage is an able document but / do not
agree with the Presidents conclusions on
the subject of international law as ap-
piled to Cuba. The Presidents dealing
with the currency question is suggestive,
but l have not been able to give sufficient
attention to it to Justify me In expressing
an opinion upon It.
Senator Chandler-I am especially pleas
ed with the Presidents evident intention
to maintain a policy In the interests Of in
ternational bimetallsm.
Senator Hanna-It is statesmanlilSe
and American paper; impressive and con-
vincing, and one which will confirm the
confidence the country has in the Presi-
dent
Senator Burrows-It is clear, concise
and comprehensive message. Il covers all
our concerns, national and foreign, treat
ing them with great frankness and per-
specuity.
Senator Smith, dem.-Whlle some of the
Presidents recommendations with regard
to the currency may be well enough, it
must be evident to him at the present time
they are impossible of enactment. His
reference to bonds is painfully suggestive
of the inadequacY of the present tariff
law, and while his policy in regard 10
Cuba seems moderate, / hardly think 1t
is in line with the supposed policy of the
republican party.
Senator Allen, pop.-I do not care to en-
ter upon a criticism of the Presidents ut
terance, but l will say that / fail to agree
with him on his three principal sugges-
lions of policy. / do not think It impossi-
BILE to secure the currency legislation which
he recommends.
Senator Teller, sill. reD.-I do not believe
that any legislation viii be enacted au-
thorlzing the retention of the greenbacks
in the treasury until somebody is willing
to pay gold for them. The radical advo-
Gates of the gold standard will not ne
willing 10 accept this suggestion, nor will
the SILVER men, so far as / am Informed.
favor this disposition of the financial ques-
ton. II may be that the administration
Will be willing TO go no further TO meet
the demands of the so-called currency
reforms but judging from the utteranccs
Of the Secretary Of the Treasury, he will
be willing to make further concessions. /
do not believe that The suggestion for ty-
ing up the sreenbacks will meet the ap-
proval Of the people, as such a COURSE
would inevitably result IN great contrac-
ton of the currency. Indeed. II looks TO
me as if the suggestions of the Presi-
dent would be not satisfactory to any
great number Of people Of any party The
President IS certainly mistaken when ht.
says that tho government is obliged to
redeem It's obligations in gold. 1t has been
the policy Of the administration to 50 re-
deem, but there is no compulson on this
point.
Senator Pettigrey, sill. rep-The Presi-
dent proposes to retire the greenbacks, and
in doing so he tries TO disguise the method
by which It is to be accomplished 1t Is
plain that under the Presidents plan. no
more greenbacks can be in circulation
than there is gold in the treasury Thus
the greenbacks virtually become gold GER
tificates and will be Immediately retired.
Representative Sayers, dem, Of Texas
The recommendation by the President that
when the United States notes shall be
redeemed in gold they shall be kept and
set apart and paid out only in exchange
for gold will be, in my judgment, If car
ried out, an indirect method of retiring the
greenbacks; and If such policy should pre-
vail, it win be as fatal to the further use
Of these notes as currency as il they had
been converted into bonds. In such a
policy ! do not concur. also regard that
portion of the message concerning Cuba
as fatal to any action upon the part of
this government looking to the granting
of belligerent rights 70 the revolutionists.
Representative Bland, dem, Of Missou-
ri, the recognized free silver democratic
leader--The Presidents proposition to re-
tire the greenbacks by holding them in the
treasury except for gold deposits means
contraction OF the currency 10 the amount
Of the greenbacks so impounded His
statement of the situation as to interna-
tional bimetaiism viii not be accepted in
earnest by anybody. There are few Sc
rious international bimetallists, but among
them I suppose the President may be class
ed as one. The message on all subjects
sounds aDOiOgetic and like an affidavif for