The Mena star., 1899-08-03
THE GOLD STANDARD.
Assertion Made That Mir. Mckinley
 Favors a Definite Declaration.
THE PLAN OF COMPTROLLER DAWES.
fae Favors a Provision Making All Money of the United States Interchange abie-steps to Make the Cur
 rency Elastic.
Chicago, July s1.-A Washington spe- cial to the Chronicle says:

Chicago, July S1.-A Washington spe- cial to the Chronicle says:
 It is said by those in the confidence of the ad- ministration that the president has not bee n moved by the protests of certain western re publican senators against the formal adoption of the gold standard by the republican party, and that an unmistakable declaration for it cer- tainly will be put through after congress meets. Those closest to President Mckinley, both as political and financial advisers, declare that he believes that the time is ripe for the definite declaration for the gold standard It is just possible that some language may be em- bodied in the currency bill passed next winter which will afford handle to the silver repub- licans to claim that bimetallism has not been kicked out of court by their party, but anything enacted in this direction will be declarntory and will not affect affirmative legislation. The affirmative Legislation 1t is said, will not mere iy declare that the country is on the gold stand- ard and that public obligations redeemable in gold, but win place powers in the hands of the secretary of the treasury to maintain the gold standard at all hazards.
 The fact has already been made public that the house caucus committee which met Ut Att lantic City, authorized the issue of bonds to maintain the gold reserve and that 1t provided for . separation of the issue from the fiscal business of the treasury The senate commit- tee is likely to go further than the house com mittee rither than to halt half way.
 Comptroller Dawes. whose political judgment is highly trusted by President Mckinley. favors making all money of the United States inter changeable, so that the holder of a silver dollar may exchange 1t for gold, or the ho lder of a gold dollar may exchange it for silver, at his option. Such provision of law at once lifts silver to unquestioned parity with gold and wipes out all discrimination in the status be- tween gold and silver Such provision makes 1t indifferent whether the holder of public ob- hgation is paid in gold or silver. since he exchange the one metal for the other if he does not obtain at first the one which he prefers.
 This declaration for the gold standard with the necessary measures to battress it against all assaults is likely to be put through both houses of congress within n few weeks after they assemble Speaker Henderson, who was himself the chairman of the house caucus com mttee will probably arrange programme for putting bin through the house in advance of all other legislation.
 The matter of further changes in the currency laws seems likely to await the presidential elec- tion. It is possible that the senate committee will take some steps to give elasticity to the cur rency in the crop moving season. The fac t that this will have to be done in the near future is generally admitted by republicans who have studied the monetary problem. The friends of an elastic currency system look to the pressure Tor currency this autumn to strengthen their position and convince the country that new Legislation must be had If the leaders Tear to project such an issue into the campaign of next year. however, the advocates of cur rency revision believe that the logic of events will force them to take up the problem at the short session of the present congress, after the election, or in the next congress.