Tazewell Republican. [volume] (Tazewell, Va.) 1892-1919, 1897-12-23
Report
Philadelphia Press ]

Secretary Cages plan for the reform of
the currency has passed from PROPOSE
ton and policy outlined by the Secretary
of the Treasury In bis annual report to a
bill before the Housed Committee on Banking
and Currency. Many such plans proposed
by the predecessors of Secretary Gage in
the past thirty years have appeared in
their reports and been buried in them.
The present plan has reached the stage Of
committee discussion because it las COM
manded public attention as well con-
siGered scheme which is simple, coherent
and comprehensive. The changes pro-
posed are definite; they would improve
the currency, though their final result can
not be determined or decided until after
Secretary Cages proposals have had long
and careful discussion.
But no discussion and no argument can
secure the passage and enactment ofSecre-
tary Cages plan. A majority for it in the
Senate Is impossible. Its fate in the House
no one can predict. The country is con-
fronted by two ISSUES over It's currency.
One is its stability and the other its char
acter. Shall the currency be always, at all
times and under all circumstances main
tanned equal to gold? This is one issue.
Shall the form of the currency be on the
legal tender or the bank note model? This
is another and different issue.
Secretary Cages plan, with the best in
tent:on and most sincere purpose, raises
both issues. Only one can be settled at
time and only one should be raised at
time. President McKinley's proposition
that greenbacks paid into the Treasury for
gold shall be paid out for gold only raises
the question of stability and settles it.
With this provision and revenue equal to
expenditure the gold value of our currency
will be on stable and secure foundation.
This proposition minimizes resistance
and multiplies support. 1t raises no bank
questions. 1t does not revive the green
back issue. 1t arouses no contentious
questions as to form and the character of
our currency. 1t meets a plain evil on
which every one is agreed, independent of
currency theories, and proposes an ade-
quate remedy. This clear, simple and suf-
fcient alteration in our currency laws
should be reported at once by the Com
mittee on Banking and Currency. 1t is
proposed by the President. All Republi-
cans support it. 1t proposes to carry into
effect the St. Louis pledge to maintain the
existing gold standard, and it proposes
nothing more. No man standing on the
St. Louis platform can refuse to support it.
The Committee on Banking and Currency
should decide now to report this PROPOSE
ton when the House meets in January.
Full space, time and opportunity should
be given for discussion. The country needs
the education of currency debate. Such
a debate will illuminate the situation and
both decide and reveal public opinion.
When the stability of the currency is de-
cided ample time will exist to decide upon
the best form for the currency. Now and
today the immediate and pressing duty Of
the hour is to remove through the simple
remedy proposed by President Mckinley
81 fear that the currency, as it is, will eve.
be moved hairs breadth from the exist
ing gold standard.