The Florence tribune., 1898-01-01
A eoLD-Bue ADMINISTRATION.
Senator Teler's Accurate Forecast of Fin
 aneial Lealslatlon.

oenstof oilers Accurate Forecast of Fin
 ancial Legislation.
 There are few men in the United States that have the ability to size m as correctly as Senator Teller has the real situation of the financial question. and the attitude of the Administration as 1t bears upon the prospective legis- lation.
 No man," said the Senator "can say now what will be attempted by the Administration on the money ques- ton. We know pretty well what the House will do under pressure. and we are equally assured what policy will be pur6ued in the Senate. IL is idle, how -eveF ts. siiseass- proposftians untTI we hear from the Administration and that body of eminently wise men known as the monetary commission, which has oeen holding Ats sessions ln washing ton. That commission, although hold ing no official status, has been indorsed by the President, and the work of the convention that created it was approv- ed by the Executive.
 7 "The Republicans are going about the study of this question in the wrong way. They are not honest. They deal with it purely from the standpoint of expedieney. Senator Chandler talks of bimetallism as necessity in order to save the party from loss at the hands of the voters. He represents the sen timents of that party which would do something for silver if it were impera- tive to save the party, and leave silver alone so long as the elections could be carried without it. Representative Henderson, of Iowa, in recent inter- view is quoted as saying that, unless something is done the Democrats will carry several of the Congressional dis tricts in his State and sweep it at the nextgeneral election. Neither he nor Mir. Chandler, nor any other Republi- can, suggests that anything be done for silver because to do it would be the right thing to do. They want it done in order to head of the possible results of their failure to do something.
 "There is not a Republican to-day, who discusses the money question hon. es.ly. He even misrepresents the facts and distorts statistics The object of declaring for the standard is 10 eon sfleE the money Of the country and make it the easier for them to corner it.
 'sThe present scheme of the Admin is.ration appears to De to retire the greenbacks and let the national banks make up the amount lost by the with drawal of these notes from circulation Such a proposition will never receive the sanction of Congress. If it came to direct vote in the Senate it could not pass, for there are certain Senators, whom it is not necessary to name, who would not dare to vote for it. In the first place, it is foolish to suppose that the national banks would increase their circulation. To retire the greenbacks and Treasury notes means eontrae tion of $500, 900, 900. The circulation of the national banks is less then $250,- GOO ,000, and if any man believes those institutions would swell that circula- ton to $7OO, 100000 and guarantee to redeem every dollar off in gold across their own counters, he financially unsound and mentally insane. It would not be done if required by law, for the banks would then simply go out of business.
 "The idea of retiring the greenbacks is based upon desire to get rid of the constant drain upon the Treasury fol gold. If our Treasury were to adopt the policy of France, that drain would stop instantly. When holder of pa i per currency goes to the bank of France to have it redeemed he does not know whether he is to get gold or silver l The bank exercises its option, and ou laws Contemplate that our Treasur. ] should exercise it's option, butit doe
 not, and right there is the trouble
 Offer silver for those greenbacks one
 and the drain would stop. This, c !
 course, would not solve the whol
 situation, but it would accomplis
 much, and should be done. But it wi