The representative. [volume] (St. Paul, Minn.) 1893-1901, 1899-05-18
THE PAPER-MONEY ISSUE.
Free-Silver Too Narrow.

Free-Silver Too Narrow.
The Minneapolis Journal, Republican,
in recent issue has this to say:
Washington May S.-The impression that
the president is not pleased with the work
of the conference committee which has been
trying to solve the question Of financial
legislation for the Republican party. is
becoming widespread. 1t is understood that
he desires that no radical steps be taken
by congress next winter, and that the way
be left open for a renewal of the financial
issue of 1896 should that be the desire of the
fusion forces A prominent Republican, in
the confidence of the president, stated the
matter to me in this way
1T is the desire of the administration to
meet the opposition next year on the old
ground II you were an expert wrestler
and after a successful bout with YOUR an
tagonist knew that certain hold, which
had brought you victory once. was almost
sure to bring it again, you would be foolish
to seek for new and untried one. You
would try the same old grip and would
have no other. So with the administration
1t has met the opposition on the free silver
issue aud overcome it. Next time the iob
will be performed with even more neatness
and dispatch. For the Republican party
deliberately to go out seeking for new
financial issue would be the height of folly
and absurdity and l believe this is the wav
the administration looks at it,
But do what the Republican leaders may
there is growing suspicion that the finan-
clal issue next year may not be free silver
Several OF the long headed men of the party
would rot he surprised to see the old ques-
ton OF paper money again at the front In
deed. some of them regard the coming of
this question as almost inevitable If it
doesn't happen in 1900 it will happen later
nd fh0
more serious the phase it is likely to
take on.
Already there are indications Of coming
trouble with the paper currency. Treasury
officials are confident that there will not be
enough paper money on hand the coming
fall to move the crops. Usually there is
steady flowing back into the treasury of
rational bank notes. but conditions are be-
ing reversed this year. The treasury is
almost empty, and there is no likelihood Of
any change in the situation. The war with
the heavy demand for American money in
Cuba. Porto Rico and the Philippines, is
partly responsible for the shortage An
other explanation is the fact that times are
good and people are not so anxious to rush
to the treasury with their paper as they
were when the country was in the shadow
of financial panic. When the crops begin
to move in the fall. the treasury folks look
for demand for money which thew cannot
supply. and il the shortage IS as great as it
seems likely to be. congress will meet when
the agitation is at it's height. and find itself
face to face with the old greenback question
Then will come the question as to what
shall be done. The two parties will concede
that more money is needed, but will differ
widely as to the method of ISSUE The
fusicnists will probably demand the direct
issue by the government of paper money in
large quantities; the Republicans will prob
ably favor the present system of issue by
national banks, with government oversight
as d police ,recauticr Congress will i!;vid"
and the financial issue for 1900 viii have
been made
In 1896 the Republicans had the long enc
Of the financial argument on theft sidc
They demanded that the government shou'G
control the issue of gold and silver. ar
should he supreme in all matters relatin~
tr. the currency. The fusionists. with thu
old greenback cry repewed. will demand for