The times. [volume] (Richmond, Va.) 1890-1903, 1898-01-01

bill whatever altering present conditions
will be in the nature OF an entering wedge
and II will increase the prospect OF get
ting something better after awhile. 1t Is
fortunate. therefore. that Secretary Gage
threw down the challenge. 1t has already
provoked considerable discussion and II
must provoke a good deal more and the
public mind is at this time in most re-
ceptlve condtion-one as favorable as pos
sible for intelligent discussion.
Already Senator Hansbrough. OF North
Dakota. one Of the "internationals." has
declared emphaticaily that there is no
danger OF the passage OF any 10 to leg
islatlon by the senate" and that he
is quite sure that there IS not Is 10
majority in that body" He couples these
statements with severe criticisms OF Sc
cretary Cage for recommending the sin
gle standard gold policy. but they cut the
ground from under the feet Of those who
have been decrying any attempt TO pass
a currency reform measure upon the
ground that the Senate was hopelessly
committed TO free silver and that no
measure Of currency reform could there
fore be got through it. Here Is one OF the
Senators who has been confidently count
ed upon to make up the free silver ma
jorty. declaring that It does not exist,
and what he has had the courage to say
in public other and more timid Senator'S
are saying in private.
once make II apparent that there is no
majority for free silver I'm the Senate, so
that there can be no further hiding be-
hind that myth, and the chances Of cur
rency reform are greatly increased. Sena>
tor Warren. another Of those counted
upon to make the free silver majority, de-
cared in a recently Interview that with
the recommendations OF the President re-
garding national banks. most of US will
agree. and we realize that there are also
some good points in Mr. Cages proposed
bill" He further declared that he had
lust returned from Boston. land while
there l was told that the Eastern Re-
publlcans. Independents. Gold Democrats.
&c. had voted for Mckinley in order to
maintain a sound currency and that they
we're entitled to have some legislation In
the line of currency reform" Senator
Warren questioned the wisdom of action
at the present session, but what he said
left little room to doubt that he would
of
reform II II were pressed upon him.
The Presidents proposition that no ma
tlonal bank notes under the denomination
OF $40 should be issued is an attractive
one 10 the free coiners. and IS harmless
in itself. II would result IN all the small
notes OF the country being silver certih-
Gates representing silver bullion or coined
dollars stacked up in the Treasury, but.
so long as no more silver was purchased
that would do no harm. We have Demon
strated that we can keep the present
amount OF silver al par with gold, and II
that is not increased, II is Of no conse-
quence whether it IS utilized in the way OF
small notes or whether II is not.
In conclusion we repeat, that we have
not the slightest hope that any measure
Of real currency reform can be passed,
but by conceding to the free coiners that
the banks should issue no notes under $40.
we may make them assent to something
In the way OF reform and if the people
ever get taste Of currency reform they
iii 90 ~, ,,,+U tho la usc are prODerly
amended.