The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1898-12-30

if the very notable movement toward
monetary reform which has filed sol
large a place in the history OF the last
few years, shall pass away without
having left any results in legislation
Never before have there existed among
all classes so great an interest in this
subject, so near an approach to unani'
nifty Of opinion, and so strong pur-
pose to see something accomplished. To
this very promising attitude of the pub
lie mind are added external conditions
of an extremely favorable character
We allude to the exceptionally large
stock Of gold both in the treasury and
in the country at large, to the unpre-
cedented trade balance, to the generally
solid condition of business to the alb
sence of any necessity for that haste
which always makes legislation in
crisis dangerous.
Without doubt, there are stiH con-
siderable obstacles in the way of re-
form. 1t is easy, however, to exag-
gerate the seriousness Of those obsta-
Giles. Your committee wish particular
ly to remark this IN respect to the
much-noted divergancIes of opinion
among friends of reform. The not I'M
common opinion that these divergen-
cies are so serious as TO render hope
less the prospects of reform we con-
slider quite unwarranted As a matter
of fact, barring differences due TO the
circumstance of some being more, 9TH
ers less, radical, the various projects
of reform have a surprising similarity.
Doubtless there are differences of
method so fundamental that the choice
of one plan involves the rejection of
its rivals but cases Of this sort are
comparatively few
In the light of these facts, your COM
mittee are of the opinion chat what is
most needed at this juncture is dis
position on the part IF the friends of
reform to sink individual preferences
as to details, and to insist that con-
gress shall enact such legislation as it
shall be possible 10 agree upon. Tn
| dodbtedly, there is room in this mat
ter of currency reform, for honest diff
ferences Of opinion, but such a degree
of persistence in ones opinion as makes
a working compromise Impossible has
no justification in monetary principles
or in the conditions prevailing in the
United States
1t is safe to say that of the five or
six currency bills that, during the last
twelve months, have been III any Sc
rious sense before the country, the pas
sage of any one would have resulted
in great Improvement and would have
measurably satisfied the demands of re-
formers.
+. NJ. Taylor
University of Michigan.
f. w. Taussig.
Harvard University.
]. w. jerks,
Cornell University.
Sidney Sherwood,
Johns Hopkins University.
David Kinley,
University of Illinois,
/ The following officers were nomina-
ted for the American Economic Asso-
citation: President, Prof Arthur T.
! Hadley of Yale; vice presidents, Stuart
1 Wood, Phi. D., of Philadelphia; Prof.
David Kinley. University of Illinois,
and Prof, w. 4. Ripley. Massachusetts
Institute of Technology; secretary,
Prof. Walter F. Wilcox Of Cornell
University; treasurer, Prof. Charles H.
Hull of Cornell University; publication
committee, Prof. f. w. Taussig of .Har-
ward University. chairman; Davis r.
| Dewey, Phi. D.. Willard c. Fisher. Dr.
w. A. Scott, DIR. Sidney Sherwood and
Dr. f. W. Taylor. These nominations
were unanimously ratified by the con
.