The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1897-06-08
CURRENCY REFORM.

From the Philadelphia Public Ledger.
1t is reported in Washington that Inn
mediately after the passage of the tarin
bill the Republican managers, acting In
accordance with the wishes of the ad-
ministration, will pass an act providing
for the appointment Of currency COM
mission charged with the duty Of investi-
eating the condition Of our currency, and
OF suggesting recommendation for It's
improvements. This is probably what
Secretary Gage referred to in his Gin
clnnati speech when he said that in good
time the administration would take ac-
tiop to obey the mandate OF the people
for honest money and sound finances.
Although the work of such a commission
would be of great Importance and would
involve the exercise Of a high degree OF
financial skill and wisdom, 1t would not
require a great deal of time for 1t has
been done already by the ablest fnan-
ciers in the country.
During the last political campaign the
currency question was very fully dis
cussed by men Of great ability, The ex-
| isting currency laws have been minutely
considered by men of all political parties.
II congress should authorize the presi-
dent to appoint a currency commission
he could select sound money advocates
Democrats and Republicans-who have
already fully considered the question,
and are so familiar with IL that they
could report upon It within a month.
They could certainly have an exhaustive
report prepared for presentation to
congress when II reassembles in De-
cember, when there will be no excuse
for any further delay in dealing with this
| important subject 1t is quite practic-
able. without in the least diturbing the
| security of the present national bank
system, to make 1t moro serviceable to
| small communities unable to take adj
vantage of the present banking laws,
| and thus to provide better distribution
| Of currency than now exists. 1t is also
| possible to make the volume OF currency
more surely responsive to the demands
| OF business, so as TO guard against
stringency on the one hand or Imitation on
the other. The remedies that have been
proposed are not In the nature OF expert
| ments but are of approved value In the
| experience of Canada and Scotland.
The chief duty Of a curreny commits
sion, If one should be appointed. would he
| the PREPARATION of a succlnct report on
| the subject in such clear form that all the
people could understand 1t. The material
is ready at hand; what is most needed Is
| the arrangement of the material in form
| to be read by all men and It's condensa-
| ton into small space. The currency
| question is not as obscure in itself as
| some masters of finance have made 1t by
| their prolixity, and the commission ought
| to endeavor to simplify the subject so as
| to convince not only congressman but
| their constituents of the value Of their
| recommendations. The campaign OF
| education" accomplished a great work
| in convincing a very large majority OF
| American voters that their interests
| would suffer If the basis of the country 8
financial system should be disturbed;
but there remains much to be done in
| educating the people to support safer
| and more elastic system of currency than
| we now have. That Is the proper work
| of a currency commission.