The Taney County republican. (Forsyth, Mo.) 1895-1992, 1897-12-16
WASHINGTON LETTER.
Special Correspondence.

| w WASHINGToN, DC Nov 13 1897
What will Congress DO about th,
great subjects which are to come be
fore itf This is question a great
many people in Washington aud else
where arc now asking. Of course
it is more easily ask ed than answ cred
but the outlook becomes more hope
full as the time for action approaches
President McIiinley's admirable mes
sage has clarified tie atmosphere, 81
to speak. and has suggested sucl
simple and effective solutions of tn.
apparently vexed problems tha,
there is great encouragement, no,
alone among friends of the admins
tration, but among people who act.
ually want TO see definite action up
on these important qpestions and to
see them adjusted without reference
to party prejudice Or partisan bias
The currency problem, which
locked 30 large and alarming few
weeks ago, assun es q very different
aspect jn the light cast upon it by
President McKinley's message
Simple as his proposition is, many
people see in it an open door to a
final solution of the currency problem,
and one through which the Govern
ment may walk without danger of
disturbance. The feeling which ex-
listed a few months ago, that Q rcvis-
ion Of the currency system and one
which should eliminate the gold-bear-
ing obligations could not be accom-
plisbed without a general upscting of
business methods, and perhaps with
out materially increasing the inoebt-
edness OF the Government, is rapid
~ giving way in view of the admir-.
able plan outlined by the President.
/; "If the Congress will follow the
Presidents advice in this NATTER"
said distinguished and experienced
official of the Government. who has
had long opportunity to study
matters of this kind, "the people Of
this country Will wake up some fine
morning a few years hence ahd find
that the currency system has been
changed in satisfactory way with
out any financial disturbance and al.
most without the people being con-
scious of it. The Presidents propo-
sition to retain IN the Treasury the
gold demand obligations whicl, are
redeemed in gold. aud to peEmit ths
national banks to increase their cur
rency so as to fill the vacancy that
this retention of United States notes
would cause, and also that the banks
be required to redeem their own
notes in gold, will, if carried out,
gradually transfer to the shoulders of
the banks that duty of providing the
gold for the demands of the country
which the Government has hereto
fore attempted to maintain. This
plan, if carried out, would, in my
opinion, solve the entire currency
problem, and do it in such a gradual,
quiet way that it would not disturb
business conditions or compel the in
crease of the iuterest-bearlng indebt-
edness of the Government. John
Sherman, when he was preparing as
of the Treasury to resume
specie payments, said: The way to
resume is to resume.' Now it seems
that another Ohio man has come to
the front with an equally simple,
practical currency reform proposition
which may go into operation as
sMo othiy and satisfactorily and with
rs valuable results as did the specie
under Secretary Sherman,
BOW the distinguished and honored
head of the Compartment of State
L he few people who were inclined
to criticise the operations Of the
Dirgley law have learned that their
criticisms were not we'll founded.
That law has in its first four months
produced nearly ten per cent. more
revenue than did the Wilson law in
The corresponding four months of it's
and has increased it's earn
ngs more than twenty-five per cent. |
N ,ba. length of timeme. Assistant
Secretary Howell. who has been
many years connected with the Gust
pms service Of the Government, has |
,aused very careful estimate to he
aada of the earnings which this law,
would have produced in the past |
our mouths had the imperLatiOns |
,een up to the normal. TO OBJ
ain the normal importations he
axes those of the year 1892, which |
vas looked upon as fai: example
If the importing habits of the United
States. lie finds that it the impor-
,atious of the past four months had
)een equal to the corresponding |