The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-01-05

htAS ilVl Aluk luct III luuldiupVlIb uDOut
n year ago. and acted wholly upon its
own responsibility as a representative OF
business interests for the consideration
OF plans for financial reforms, and while
tho commisslon's report cat only be in
the nature OF n suggestion for the con.
s%lderation OF Congress. the result OF It's
deliberations, which was published a day
or two since. Is attracting considerable
attention throughout tho country, and is
receiving no small amount of favorable
comment. Compared with the recon-
mendatlons OF tho administration It
stands very we'll and suffers little. some
of Ito most important features being
similar to those which form the main
part OF Secretary Gase's plan.
The most striking points OF similarity
of the commissions plan to that Of the
administrator are the suggestions of
two remedies for present causes OF COM
plalnt-frst. the decrease In the volume
Of the gold demand notes that are a
menace to the treasury rserve fund: and,
second, an increase In the volume OF a
tlonal bank issues, with a view to avoid
Ing n contraction OF the currency, threat
ened by such retirement. The commits
sion differs somewhat from Secretary
Gage in matters OF detail of the plan.
but that official warmly commends the
project, and in an interview expresses
the hope that 1t will be adopted by Con-
gress, and that the commissions bill
may become a law.
Mr.. Gage says: II have read the re-
port with great interest and much profit.
Avoiding abstract terms, It proceeds in
plain, comprehensive language to point
out the sources OF our present financial
weakness, and the remedies proposed
are so clearly set forth that all may un-
derstand. The reform measures recon-
mended I regard as well adapted to cure
the ills from which We suffer, and which
threaten our future. I sincerely hope
1t will bear fruit in legislative action"
The chief differences between the plan
OF Secretary Gage and that OF the none
tary commission Is that the commissions
plan seeks to avoid the large issue OF In
terest bearing bonds. and provides that
the notes shall be retired and cancelled
out OF surplus n The Washing
ton Star summarizes the provisions as
follows:
After fifty millions Of gold demand notes
have been retired the process OF retire
ment shall progress only at the rate of the
issue OF the new national bank notes pro-
vlded for by the PLAN. Other features OF
the project are intended to check the drain
upon the surplus revenues and to provide
for n systematic, even retirement Of the
notes that now threaten the integrity OF
the reserve funds of the treasury. The
plan provides In great detail for the crea-
ton OF new features in the bnnk national
banking system, Il II Is ureGd on Its be-
half that 1t will tend. II enforced, to pro-
ducc changes in an orderly, conservative
manner, enabling the banks ultimately to
supply all demands for money In times of
pressure Il to retire the surplus clrcu-
lation when the demand has become less
acute.
Thkplap OF the commissions simple and
void of all complications, and, in the
minds Of its friends, presents a practical
remedy for the Ills of the present sys-
tem anu tor pAe restoration OF me
nan OIL the country upon q SOUND pa
sig, without the friction that might be
involved in the less simple plans that
have been suggested. An affirmation of
the soiu anuaF Is incidentally suS-
sested oE the commission ana the rec
commentators OF an the Man features
OF the report mas FeciVeu the favorable
Consideration OIL many fepup.icahs ana
Gold Democrats, The commission is
composed Of some of the most thoughtful
men Of the country, and they have de-
voted much time to the work. Their
| plan IS evolved after hearing suggestions
from all parts of the country. and from
! the representatives of eyevry business
| interest and all classes OF the people,
--
Those Repuollcanswhoarcin sympathy
with the boiling members Of theOhio leg
lature no doubt are delighted to readin
the dispatches describing the legislative
proceedings at Columbus that "Groans
and Kisses greeted the boiling Republic
cans from the packed loDpieS and gal
with delight" 1t will b, observed that
the tic members of the leris-
loturc and the Democratic ncwsnaners
and polltic,ans are doing the delighted
bowling over the treachery Of a handful