The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-12-08
Why TWO CURRENCY BILLS.

7 WHY TWO CURRENCY BILLS:
The fact that the Republicans have in
| troduced two currency bills. one in the
House and one in the Senate. seems to
| justify the suspicion that their efforts in
behalf of currency legislation are not as
| sincere as they would like those Of their
party. who are honestly anxious for a
/ statutory declaration for the gold stand
! ard. believe. 1t is true that In the House
| the currency bill is being pushed vigor-
ously, and IL looks very much as If 1t
would be passed within week or two. 1t
is not improbable that during the session
the Senate will pass the bill that is pend
ing in that body. Then, If the Republicans
are as much in earnest in their efforts
in behalf of the gold standard as they pre-
tend TO be, it win be an easy matter 10
adjust the differences in the two bills. but
if they are not sincere the Senate and the
House will not agree, and there will be no
currency Legislation.
II may be that two bills were introduced
differing in some important particulars
for the purpose Of finding out the senti-
ment OF the country respecting gold stand
ard legislation. It is certain that the Re-
publican party will do nothing which its
leaders think would endanger its success
in the presidential campaign. If it should
appear that the proposed currency legisla-
ton would injure the prospects Of the Re
publican party the Senate and the House
would never get together on the pending
currency bills. If, on the other hand the
Republican leaders become satisfied that
legislation in behalf of the gold standard
would be beneficial to the party. the diff
ferences between the two currency bills
would be adjusted and a currency bill
passed.
The differences between the two bills
are not so very great. They are of a char
acter, however, to prevent the House and
Senate from coming together If the Re
publican leaders should decide that gold
standard legislation at this time was not
advisable from a party standpoint. Both
bills provide for the continuance Of the
gold standard, and that all forms of money
shall be maintained on a parity with the
gold dollar of 25 $40 grains $40 fine which
is TO be the unit of value. The House bill
provides that all legal tender obligations
of the United States shall be payable in
gold. The Senate bill leaves in doubt the
question whether the outstanding bonds
are payable in gold or not. II mentions
particularly that the 2 per cent bonds,
called for in its finding scheme are paya-
bic in gold. but says nothing about other
bonds. 1t may be that there was no in
tention to leave a doubt as to whether
other obligations were payable in gold
but whether there was or not, this differ
ence between the two bills affords the OPP
portunity to defeat all currency legisla-
ton If it should be thought desirable to
defeat it,
1t is the very general understanding that
there is considerable doubt among Repub-
licans of the West as to whether a stat
ute continuing the gold standard would
be popular in that section. 1t would seem,
however as If the Republican party were
so fully committed to the gold standard
now, by what the President said in re-
spect to il in his message and by the ac-
ton of the caucus of the Republican mem
bers of the House. in favor of the House
currency bill, that 1t would make very
little difference, as far as the Republican
party is concerned, whether Congress
passes a bill continuing the gold standard
or not. IL may be that the Republican
leaders think otherwise, however and by
the Introduction of two gold standard bills
have left the way open to take backward
step if il should be considered advisable
TO do so.