The representative. [volume] (St. Paul, Minn.) 1893-1901, 1898-12-28
NECESSARY
WHAT THE MONEY BAGS OF THE Ma
TION ARE PUSHING FOR.
Plenty of Good Stout Rope and a Few
Men of the John Brown Type to
Use Them Is the Need of
the Hour.

INDIANAPOLIS. Ind, Dec. 26.-Mr H.
H. Hanna, the chairman of the executive
committee of the Indianapolis monetary
convention, in an interview with your cor
respondent, showing why congress should
at once change our existing monetary laws
in the direction of greater definiteness and
safety. Mr.. Hanna was asked as to the
probability of an extra session of congress
to secure monetary legislation He replied:
while N Washington last week l was
assured by prominent Republican leaders
that the president would not object to an
extra session of congress If it could be con-
fined strictly 20 consideration of the
money question. The president is quoted by
these gentlemen as fearing that members
of the two houses may insist Upon imme-
date legislation for the new dependencies
If congress is called together in extra ses-
sion. This he wishes to avoid, that plans
fer their government may be the result Of
full information and careful considera tion
l do not think, however. that the views of
these gentlemen are well founded It would
be comparatively easy matter to limit the
work Of an extra session to monetary re-
form, and the necessary legislation could
be enacted within two months after the
session began. The house could pass the
bill within week and adjourn from time
to time. as it did at the extra session last
year after it had passed the Dingley tariff
bill and while that measure was under con-
sideration in the senate"
1T is argued your correspondent sug-
gested, that we are now upon gold basis
and that it Is useless to enact additional
legislation in that direction; in other words
that it is better to let well enough alone"
Il am familiar with that argument" said
Mr.. Hanna. land do not think it will bear
examination When / was in Washington
recently distinguished member of the
house, in arguing against any further legis-
lation. declared that we were on the gold
basis now and that the existing gold stand
ard was the unwrtten law, why should we
not make it the written law. We desire to
confirm and make certain what Is already
in the law. 1t will not change existing con-
ditions or give a shock to business, or en-
danger the existing security of our currency.
President Mckinley expressed the require
ments of the situation with epigramatic
force and directness, in his speech before
the Manufacturers Association in New
York last January, in the declaration 1T
will not suffice for citizens nowadays to saw
simply that they are in favor Of sound
money. That is not enough. The peoples
purpose must be given the vitality Of public
law 1t is quite true that the country is to-
day on the gold basis; but it can only re-
main here permanently when We have en-
acted legislation that makes all our money
interchang gaable-legislation which demands
that greenbacks, treasury notes and silver
dollars shall alike be exchangable for gold.
not be regarded as, secure"
Does not a sound money senate which
we shall have by a very large majority in
the next congress, stand between the coun-
try and any attempt at free silver legisla-
tion?''
I'm the first place." rejoined Mr.. Hanna.
there is no certainty that this large sound
money majority may not be overcome in
1900, If the Democrats should sweep the
country either on the silver issue or on some
other issue, such as opposition to the policy
Of expansion, for instance. The great source
Of danger which a sound money senate
and even sound money house could not
avert, would be the decision of secretary
of the treasury to pay our obligations in
silver coin instead of in gold. The green
backs and teasury notes and all of our bonds
are payable n ccin. Successive secretaries
of the treasury have chosen to make the
redemption in gold, bu. hostile secretary
of the treasury could pay them in silver
and remain strictly within the limit of the
law This would send us at once to a sill
yer, or at least to a deprecated paper basis
and the result would be an unsettling OF
values and a disturbance of business LITTLE,
less than that which would follow the pas