The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1899-02-03
The Currency Question.
AS TO CURRENCY REFORM.
~"eS'"" Not Likely To- lie Resch ed
Tor several iears-sSIxer
and Expansion.


Advocates OF so-called currency re
form have about concluded that moth
Ing can be done in that direction h,
either the present or the next congress
Chairman Walker. Of the banking anc
currency committee OF the lower house
has again given il as his opinion that
The question rs not likely to be reached
before 1901. There are 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 plan,
aud each one has following ia con
gress. The presidents plan has poIit-
ical side 10 ID. the secretary ; plan is
the bankers plan. and the compiroller'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 10
whether the country is or is not al
ready on the gold basis. According TO
the ruling OF the treasury departing
for several years the country is on the
gold basis. and according 10 the sew
eral coinage acts. both gold and silver
are redemption money. Il depends.
therefore. whether one accepts the
treasury ruling or the law OF The land
how one believes ia The premises.
The real reason for posiponemont is.
however. that public sentiment is de-
cidedly against the plans Of the presi-
dent and the secretary ~ the treasury.
and indorse the views Of the comp
trollcr. in 50 far rs he opposes The en-
larging Of the rights and privileges OF
the national banks. Then. again the
administration j. driven to admit that
the election Of ! $50 not only cid not set
tie the shver question. but made il
more determined than ever To keep on
battling The people realize that the
colonies will have toadopi our monetary
system. which will necessiiaie consid-
cradle expansion OF the country's cir
culating money medium II is esti-
mated that nearly. If not quite. 90 per
cent. OF the business OF this country is
on the credit system.
1t is concluded by all except the gold
standard following that larger per
capita circulation is needed in our do
nestle commerce. and public eminent
does not favor comforting the right TO
regulate the volume of money on the
banks. Nor does the public favor 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
doubted the proprieiy of open
ny the minis 10 silver now admit that
there is no other way TO provide re-
lemption money 10 meet the enlarged |
Hence il is that the ac- |
luisition Of outside territory has ma
crially strengthened the cause OF sill |
er. 30 much so. indeed. that the free
nd unlimited coinage of silver is likely |
o he more prominent in 1900 than il
vas in 1896. Doubtless all this has
much. If not III. TO do with the plan of
he administration 10 let all kinds of
lonetary legislation go by default un-
i after 1900. and for still another four
ears. unless the people radically
bange their views meanwhile.-kan-
as City Times