Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1899-02-10
AS TO CURRENCY REFORM.
Question Not Likely to BE Reached
for Several Years-silver
and Expansion.

Advocates Of so-called currency ! re-
form have about concluded that moth
ing can be done in that direction by
either the present or the next congress.
Chairman Walker, of the banking and
currency committee of the lower house,
has again given it as his opinion that
the question Is not likely to be reached
before 1904. There r several rea-
sons for this abandonment of the
money question. The president, the
secretary of the treasury and the
comptroller of the currency are wide
apart in their views as to what legisla-
ton is needed. Each one, has a plan,
and each one has a following in con-
gress. The presidents plan hasa polit-
ical side to it; the secretary's plan is
the bankers plan, and the comptroller's
plan is based upon the needs Of COM
merce and the solidity of note issues.
They all are agreed as to the gold
standard, but they do not agree as to
whether the country is or is not al
ready on the gold basis. According to
The ruling of the treasury department
for several years the country is on the
gold basis, and according to the sew
eral coinage acts, both gold and silver
are redemption money. 1t depends
therefore, whether n accepts the
treasury ruling or the law of the land
how one believes in the premises.
The real reason for postponement is,
however, that public sentiment is de-
cidedly against the plans of the presi-
dent and the secretary of the treasury.
and indorse the views Of the comp
%troller, in so far as he opposes the en-
larging of the rights and privileges of
the national banks. Then, again, the
administration is driven to admit that
the election Of 1896 not only did notset-
tie the SILVER question, but made 1t
more determined than ever to keep on
battling. The people realize that the
colonies will have to adopt u monetary
system, which will necessitate consid-
cradle expansion of the country's cir
culating money medium. It is esti-
mated that nearly, if not. quite, 90 per
cent. of the business of this country is
on the credit system.
It is concluded by all except the gold
standard following that a larger per
capita circulation is needed in u do
nestle commerce., and public sentiment
does not favor comforting the right to
regulate the volume of money on the
banks. Nor does the public favor a ma
tional greenback currency with re-
demption metals. The consequence of
the demand Of the colonies for our
money is that a great many who have
hitherto doubted the propriety of open
ing the minis to silver now admit that
there is no other way to provide re-
demption money to meet the enlarged
requirements. Hence it is that the ac-
QUESTION of outside territory has ma
terially strengthened the cause of sdl-
yer, so much so, indeed, that the free
and unlimited coinage of silver is likely
to be more prominent in 1900 than 1t
was in 1895. Doubtless all this has
much, If not all, to do with the plan Of
the administration to let all kinds of
monetary legislation go by default un-
til after 1900, and for still another four
years, unless the people radically
change their views Observation-Disclosures
sas CITY Times.