New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-12-05
THE CURRENCY QUESTION.

Some Of the advocates Of currency reconStruc-
ton are doing much more TO hinder than TO help
the cause they have at heart by their treat
ment of the Republican majority In Congress.
There IS no Justice or decency in Dcratng that
majority as If II were false 10 its promises, be-
cause il has not the power 10 put any measure
through the Senate this winter. There VII he
n Republican majority in the Senate after
March !. but no one can fairly pretend that the
Republican party is responsible for the silver
Senators who hold balance in that body.
Neither is il conducive to early and wise
action TO attack the Republicans in Congress
who have not yet been able to satisfy their
minds that the measure reported from the
Banking and Currency Committee ut the last
session the most perfect and the wiSest OF
all conceivable bills. Many sound men, who
were much in favor of It when il was reported
have since found reason to doubt whether a
bill decidedly safer end more judicious might
not be framed. "The Commercial and flhah-
cjal Chronicle" which has been as urgent ana
Jealous as any journal in advocacy OF currency
reform. and which at one time went far toward
unreserved commitment to the exact form OF
bill reported by the committee. now says In
reference TO recent assurance by the fresl-
dent
II does not mean that the bill before the House
will be pushed: It would be senseless 10 force
through the House a measure that every one
knows in the Senate Will meet an insurmounta,
BILE obstacle which the conditions already tell
US will be removed in few months More
over 1t would be endangering the whole move
ment for sound money to attempt Legislation al
the coming session. for the House hlll. once IN
the Senate would most likely be saddled with
1G TO / amendment or with what would he
worse. silly compromise Legislation ending
in such a iasco would disturb business and
thoroughly disgust the public with currency
reform Besides. recent developments show that
the country has outgrown that bill. The best
opinion looks for an early meeting OF the new
Congress soon after the 4th of March and for
the passage of measure better and more sim
pie than the report the Banking and Currency
Committee has made to the present House.
1t is most gratifying to find recognized by so
prominent and able an organ OF financial in
terests the fact that "the country has out
grown" the measure which but a few months
ago some persons thought II betrayal Of the
cause Of sound money TO crticise in the least.
That a measure both better and simpler" can
be devised was just clear months ago as il
is now 10 many Republicans who were not
ready to be rushed or bullicd into the passage
of a bill which their judgment did not entirely
approve If there should be- in the future less
effort to force upon Congress particular bills
framed 10y outside parties. not elected by nor
responsible 10 the people, and more effort to
ascertain with patience and good temper upon
what action the sober and iu1icious represent
atives Of the people can best unite, there would
be a decidedly improved prospect
At the same time. II may we'll be remembered
that the country is liable 10 "Outgrow' other
measures as well as the one reported TO the
House before action can be reached on any.
The suggestion that Il would be foolish 10 agI-
tate for the passage OF a bill in the House this
winter when nothing can be done with any bill
Chronicle" because many journals Lave
been hammering away in The opposite vein. as
If il would be particularly wise to waste time
and set sound-money members N odds with
each other ut n session when nothing can pos
sibly be accomplished. II is not in the least
certain. either, that an extra session Of Con
grcss will be thought expedient next March
by the President. There will be much more
known then than Is known now about our
new dopendcncics and about the monetary
necessities arising from trade with them. 1t
Is conceivable that the country may by that
time reach the conviction that it should know
even more than II then knows. and should
have some months further experience in deal
ing with the difficult problems presented be-
fore entering upon monetary legislation which,
when enacted may not he changed without the
greatest difficulty for many years.