The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-07-25
MONEY ACTSTATUS
CHAIRMAN HANNA REPORTS ON
WORK ACCOMPLISHED

Legislation Much Hetter Than
Would Have Been the Case Had
an Attempt Eeen Made to Force
Action During the Last Session of
Congress--Outiook Is HopegyI.
INDIANAPOLIS, Ind, July "a
Chairman High H. Hanna, of the
monetary commission, has prepared
statement addressed to the business
men, setting forth the results of the
work of the commission during the
last session Of congress. He says:
THE present status of the under
taking to secure comprehensive cur
rency law is encouraging beyond what
was expected. In truth, the remarka-
bly, prompt appreciation Of the value of
organized effort and the realization
that the opportunity is at hand have
resulted in very gratifying progress.
"The bill, as finally agreed upon and
reported to the house, has been very
generally approved by almost every
one supporting the effort to accom-
plish comprehensive monetary legisla-
ton. The bill includes all Of the vital
elements recommended by the inoneta-
ry commission, but the details of meth
cd differ in some respects radically
"On the whole, the bill reported by
the committee is a greater step in the
right direction than the business men
of the country had reason to expect
would be secured at this early stage
in the progress of the work.
1.-THE passage Of this bill will be the
beginning of a law for the best currency
in the world. Of course, it is possible
and probable that there may be objec-
tions to the details of the bill and the
change made before approved by both
houses of congress, but the encourag e-
ment is so great that all business men
who recognize the extraordinary OPP
portunity are warranted in absolute
unity of effect henceforth to the final
successful contamination.
1.-THE avoidance of dissension in dis
cussion among the friends of this char
acter of legislation upon the question
of consideration seemed desirab BILE and
1T became a question of expediency
While approaching the force and in
fuence upon the next election that
would surely have followed if an af-
firmative action could have been had
during the session just closed, the COM
mittee is glad to assert, at this pc
Rod, that, everything considered, the
present status is probably more ia
vorable to ultimate legislation than
would have been the case had a number
of the leading Republicans in the house
disapproved of the action sought dur
ing the session
ITO measure the present condition 1t
is only necessary to say that there is
every reason to believe that the presi-
dent and all the leading administration
Republican senators and congressman.
and the $50 members of the house who
signed the petition, now stand united
in support of the general principles Of
the committees bill. There is every
reason to believe that Mr. Reed will be
an earnest advocate Of monetary legis-
lation.
There is every reason for the mem
bers Of this organization to entertain
positive hope and to arouse the most
determined spirit and effort to continue
the struggle so unrenittingly and so
successfully made to this stage of the
work. 1t was well understood that the
effort made for action in the lower
house during the session just closed
was for the particular purpose of maxi
ing a demonstration of good faith on
the Republican branch of the congress-
This, it was believed would inspire
new hope and unite the business men
Of the country in an effort to secure in
the November election not only the
continuance of the control by the Re-
publican and sound money element of
the lower house. but to overcome the
majority in the senate now held by the
fiat money people, and thus make
sound money legislation possible No
such legislation can be enacted until
both branches of congress are in con-
troll Of the Republicans and the sound
money Democrats.
"Plans win be formulated in due time
in order that the business men of the
country may supplement the regular
organization for work in the weak leg
islative and congressional districts.