The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-01-04
NONE TARY COMMITTEE PLAN
COMMENTED UPON ny
MANY PUBLIC MEN IN WASH
INGTON.
NEWS OF HANNA'S REVERSE
Disapp ofnting to the President
Eastern Situation Needs Close
Watching.
WASHINGTON BUREAU ST. PAUL GLOBE, j
CORC0RAN Bull DING. /

Special to the Globe
WASHINGTON, Jan. 3.-S Senators
and representatives quite generally are
discussing the report Of the monetary
commission. Among the Republicans
ana gold Democrats the plan is con-
sidered we'll matured and certainly
worthy Of serious consideration bv con-
gress. Secretary Gage speaks in terms
OF nigh praise. Chairman Walker, Of
the currency committee, declines to ex-
press his opinion of the report further
than to say that it increased the pros
poets of legislation; that the currency
question will certainly be taken I'D to
test its strength if nothing more. He
asserts that his committee will report
no bill that will destroy any existing
government money. Following are
some opinions Of Northwestern men,
bers:
on Pase Morris The commissions plan
on assets. am op Gl6sgiA'io IN p Saed
issues, but do not wish to criticlse the the
commissions plan until have given it
Representative Eddy-I am not a financial
expert and can only speak as a layman. /
nave ma never given much study to the matter
"a ISLHSuyIHR currency evils. All
Is that every dollar in circulation shall be
equal IN purchasing power to any other dol
lar In circulation, no matter what kind of
money it IS.
Speaking of the report Secretary Gage said.
nave read the report with great interest
and much profit. Avoiding abstract terms,
~ ~ proceeds IN plain. comprehensive language
10 point out the sources of our present imam
cIal weakness and the remedies proposed are
50 clearly set forth that all may understand
me REFORM measures recommended l regard
he lie
we sufter and which threaten our future 7
sincerely hope it will bear fruit in legisla-
tive action"
M'KINLEY SORRY FOR HANNA.
Hanna's apparent dubious outlook
was freely discussed among politicians
tonight. The president is said to have
been keenly disappointed as he received
private advices from Ohio during the.
day, but would not express himself
for publication. He has hope.
Senator Davis had a protracted con-
ference with the president today in
reference to certain appointments for
his state.
Secretary Alger is still confined Il,
his bed. While his physician reports
no danger, he fails to respond to med
ical treatment, which fact causes con-
siderable uneasiness among his friends.
Overwork is now claimed to be the
cause Of his present sickness.
EASTERN TROUBLES.
Members Of both houses of congress
are Of the opinion that steps will have
to be taken to protect our interests
In the East, because this government
cannot rely on our existing treaty
rights II Russia, Germany and France
are to be permitted to proceed with
plans for the dismemberment of the
Chinese empire. Senator Teller, who Is
more outspoken than his colleagues,
thinks the country should soon see
what serious menace is the PROPOSE
ton to dismember China.
WASHINGTON, Jan. 3.-Chairman
Walker, Of the banking and currency
committee of the house, has called a
meeting Of his committee for Wednes-
day to make arrangements for the
hearing to be accorded the members of
the monetary commission Jan. r. Mr..
Walker Is very sanguine, the commit
tee will report a bill embodying the
features Of the old Suffolk system to
the house. I'VE will report a BILL"
said he today, (which will meet not
tentatively, but finally, the objections
to the present national banking act
The bill will not disturb the green
backs. the silver coinage nor the gold
coinage, but it will absolutely relieve
the treasury of the redemption of any
form of paper or coin certificates. 1t
will make the provision that all other
progressive countries except ours max
es and keeps all forms Of money at par.
Guarantees will be furnished for all pa
per money precisely as is now furnish
ed by the bond security held by the
government. 1t will be the old sound
state banking system nationalized-th
Suffolk system, as it is called" Mr.
Walker said he had not examined the
bill of the monetary commission, but
said he considered the efforts of Secre-
tary Gage and the monetary commits
sion of the very first Importance in con-
junction with the bills drawn by him
self, Mr.. Fowler and other members of
the committee, and expressed the opin-
ion that these efforts would materially
aid in the solution of the problem. He
expects the committee to report a bill
by Feb. 1. Mr.. Cox, of Tennessee, the
leading minority member of the bank
ing and currency committee, does not
believe that the committee will ever
unite on bill, but he thinks 1t en-
tirely probable that they will agree to
report a bill to the house for discussion
as the committee did in the case of the
Carlisle bill in the last congress.