The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-01-23
SENATOR ELNNS SNARLlNG.
-, .,,Es M'KINLEY AND GAGE FOR
FINANCIAL AGITATION.

Tne Presidents Efforts to Compel
congress to Take Action on the
currency Has Induced the silver
Men 10 Force the Fighting and Re-
onen the Old QuarreI--Ell<ins
thinks the Administration Should
HAVE Kept Quiet and Depend on
TmDroved Business Conditions to
,banee Public Sentiment.
Washington. jan Ex-senator Elkins
lids President Mckinley and Secretary
Gaze responsible for the renewal of the
.,5ncial agitation which is behind the
,.zo1utions recently reported from the Sen
ITO committee on finance, upon which the
trs. silver and the gold standard lines are
~ he drawn next Thursday.
Ia appears that the President has been
,.,,i0sr Congress TO take some action on
a.. financial question, and in that effort
b7 has been more than encouraged by Sec
ystarv Gage. The result is that the free
silver men have undertaken to force the
4grting. and open up the old financial
quarrel again.
senator Elkins says he thinks the admin
istrarion made mistake in trying to force
action in view of the free silver majority
Senate. lie taxes lIG ground mat
Ybe opponents of the free and unlimited
coinage of silver can go to the records of
the last election and, find 100000 of voters
with them on that proposition. Under such
circumstances it seems idle to try and ac-
,omplish by premature legislation what is
being accomplished gradually by public
sentiment
Senator Elkins contends that public SEN
-iment is more easily Influenced by an in
.-,-a in trade better Wages and high
or degree of general prosperity, than by all
rhe sentimental legislation that can be
nied upon the statute books. He states
as a practical business man, who is large
Nv interested in practical business enter
0rises. that silver and paper are to-day
circulated on a par with gold, notwith-
standing silver is worth in the market
but 40 cents on the dollar, while treasury
notes are simply a promise to pay, with
out interest He adds that an individual
would consider himself extremely fortu-
nate if he could give his note to his neigh
for in a business transaction, without be-
ing obliged to pay or 6 per cent. interest
Under the existing conditions, our money
is all right and even our silver certificates
are received dollar for dollar wherever
American trade extends.
Without Intending to disturb the present
status of our money, Senator Ellkins in
tends to introduce a bill next. Monday,
which he thinks will materially improve
the situation. His bill will provide that
10 bills under five dollars shall be issued.
That would force silver into circulation.
1t will also provide that the tax on ma
tonal bank circulation be reduced to one
fourth of l per cent, that banks be allow
ed to issue currency up to the par value
Of their bonds, and, further, that banks
may be esta blished with $25 900 capital. He
is undecided whether to present his bill
40 ar. off ar,
amendment to the Teller resolutions, re-
ported from the finance committee
He takes this step without comforting
with any of his associates but he is con-
hdent Jhat it will appeal to the intelli-
gence of every man who is interested in a
simple, but thoroughly practical improve
ment in our banking system. His plan
does not attempt to draw the line between
gold and silver, as they are circulating
at par to-day, in spite of all that may be
said to the contrary.
There is considerable anxiety among the
gold Democrats in the Senate over the
pending financial question. Such men as
Il Senators German of Maryland Murphy of
New York, Smith of New Jersey and
Mitchell of Wisconsin, who are anxious to
a act in accord with their party associates,
on al party questions, are greatly en-
harrassed by the attitude in which they
find themselves. 1t is all right for Demo-
Gratis VINO have a free silver constituency
behind them, to vote their free silver senti-
ments, but it is difficult for Messrs Cor
man. Murphy, Smith and Mitchell to con-
vince the constituencies they represent,
that their wishes must be ignored or sac
rhced to party dictation.
Under the circumstances these four SEN
ators are undecided how they will cast
their votes next Thursday All of them
are of the opinion that nothing can be ac-
81 complished by forcing the issue at this
q time, and they also contend that il will
n not benefit the Democratic cause in Mary
4 land, New York, New Jersey or Wiscon-
n sin
In this connection it is said that there
was chance Of deadlocking the Maryland
legislature for an indefinite period until
Senator German voted with his party, to
lake up the Teller resolution, a few days
ago.
Senator Murphy wants to stand with
MS party but his convictions, his personal
interest, and the people ne represents are
opposed to the resolutions. So it is with
senators Smith and Mitchell.
JACkSONS GREAT GENERALSHIP.