Arizona republican. [volume] (Phoenix, Ariz.) 1890-1930, 1899-07-19
A MATTER OF POLICY
Nay Affect the Drafting of
the New Financial Bill.
The Senate Committee Will Not
Likely Wholly Agreed with the
Out and Out Declarations of The
atlantic City Conference.

| the senate finance committee. lately in
session at Narragansett Pier and the
result of their consultation is awaited
/ here with great interest 1T is supposed
that the senate committee will not sub
scrfbe in eL,irety to the plan agreed
upon by the house caucus committee 1T
Atlantic City-a plan contemplating
not only the redemption of greenbacks
in gold and the maintenance of a gold
reserve for tha5 purpose, but also an
unequivocal declaration that gold is
the monetary standard of the United
| States. Should the Maria gansett Pier
conference follow the example set at
Atlantic Cmy it is feared by some re-
| publican leaders that it will be a
! political mistake of serious proper
tons. Indeed, from reporss received
! here, it is understood that vigorous
letters have been semi to senators ON
the finance committee by men of great
political influence, protesting aga INST
any action which looks to committing
the republican party to the declaration
and his associates. have not undertake N
to decide the question without securing
the advice of other party leaders, and
it is understood that letters of inquiry
have been sent from Nara gansett Pier
to prominent republican senators ask
ing them what, in their opinion, ought
to be done. The replies received to
these letters of inquiry are said to in
dicate az almost equal division of SEN
timent. Some favor an unequivocal
declaration for the gold standard and
urge a course which will fix the United
States irrevoeably on a gold basis.
Others question the wisdom of
course so radical as this They believe
It will be fnadvisable to attempt the
adoption of such Il declaration by con-
gress when so large a proportion of
the senate. although in the minority.
are opposed to the single gold stan
dard. To attempt to incorporate such
a declaration in the proposed currency
bill will. it is pointed out, endanget
the success of the bill by tempting 10
long debate in the senate, which viii
surely be resorted to by the silver
leaders. \ declaration might pass tho
house without serious trouble under
the house rules. but dilatory tactics are
more likely to prevail in the senate.
Even though the declaration might be
expected to pass the house, it IS pointed
out that the parry division there is so
nearly even as to make even this a
question of some doubt, and it is asked
why an attempt should be made to
adopt a declaration in the house which
some members OF the narrow republi.
can majority may find III hard to vote
perhaps riSking their political f1-
ture-when all that is to BE- gained In
any event is a declaration by the house
which is not likely to be accepted by
the selate-a declaration which can be
made with just as much force for
party purposes by the republican na-
tional convention next June
The administration has been quoted
as favorlng a rigid declaration. ard
especially desirous that pronounced
action shall be taken. The president
has said nothing 10 anybody which
would lead to this conclusion. On the
contrary he has carefully refrained
from expressing himself in advance of
the committees of congress: and 1t IS
understood in administration circles
that he will continue this policy. He
has been getting letters from all over
the country written by men of prom
inence. There is as great a difference |
in the tone of these letters as there is !
in the letters received by the sanators |
at Maria gIlsett Pier. Communica- |
tons from the west and notably from
Ohio plead with him not to allow an
declaration for the gold
standard to be forced for discussion
upon congress. 1t is declared by the
writers of these letters tllala there IS
4 strong body of voters throughout
the middle west who while. agbhering
to the republican, party in a general
way would lie sorely tried If any more
radical position We're to be taken On
the mone'tary question.
1t seems, then, that the president win
not Interfere at this time and that he
will leave It all in the hands of CON
gress.
From information received here 1t
appears that notifications have beer
made in the house plans by the senatel
1t is understood that theI
declaration for the gold standard and
the redemption of all United States
bonds in gold has been set aside and
that the proposition to increase the
national bank circulation to the par
value of bonds deposited has been
legatived. The reason for striking out
5he clause to increase the circulation
S said to he that not enough is to be
gained by Il to compensate for the