Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-12-01
THE GOLD STANDARD
Mr.. 0verstreet Thinks 1t Should Be
Established Beyond Question.
AN INTERCHANGEABLE AMENDMENT
One Should Be Adopted at the
Earliest Practicable Moment.
OTHER SUBJECTS DISCUSSED

Representative Overstreet of Indiana, one
Of the recognized leaders in the House of
| the movement to strengthen the currency
| laws and financial system of the country,
| has arrived in Washington to take up the
work of the session. and talked interest
| ingly to Star reporter today upon the
congressional outlook.
IF time permitted at this session." said
Mr.. Overstreet lit would certainly be wise,
| in my opinion, to reinforce, with further
| legislation. the gold standard act of the
| last session, to establish the gold
standard beyond all possibility of cavl or
question. Is there any doubt about ii now2
Well, under certain conditions of adminis-
| tration there might be. as was demon
strated by the discussion during the last
campaign.
The Gold Standard UnequivOcaIIy.
THE republican party stands for the gold
standard unequivocally, before the world.
If we adopt measures to make 1t invulner-
able we are not trenchng upon new ground
nor blazing the way in a strange direction
We are associated with a definite financial
policy, well understood and we cannot
make mistake in strengthening our posi-
ton at every point.
IF the Senate had adopted last snrinS
one clause of the House bill upon which
we insisted as long could there
would be no possible question about the
solldlty OF the gold standard act. 1 refer
20 me clause providing for the interchange
ABILITY OF all forms of money.
"lnterchangea hility does not mean ra
demptlon, Tor redemption means payment.
ln'erchangeability merely establishes the
ahsoiute equality of all forms of money
USED by this government. / would like to
see at this session, as soon as possible q
provision for irterchangeability
am sensible. however. that this is
snort session and that great deal of bust
ness is pressing for the attention of Con-
gress. It may not be advisable therefore
! to attempt additional financial legislation
AT any rate we are assured that the gold
standard act will be administered in its
| true spirit for the next four years and no
| danger Is to be apprehended. But | do
hope at the earliest practicable moment we
viii put an amendment to the existing law
which will settle all questions as long az
IL shall remain on the statute book"
Against the Ship Subsidy Bill.
What is your attitude toward the ship
subsidy BILL Mr.. Overstreet was asked.
las at present advised" he replied, II
am against the ship subsidy bill At all
events I am opposed to diverting the reve-
nues raised by war taxation and applying
them to the payment of subsidies l be-
lieVe there should be a liberal reduction OF
the war taxes In my opinion we should
| reduce them to the amount of $4,000 900
stand has been suggested by the ways and
means committee. We ought to wipe out
all the taxes on proprietary articles, on
kilograms. and on express receipts The
tax on bank checks should be one of the
last to go, because the ability of a man
to write a check carries with it his ability
to pay the tax.
81 am in favor of the passage Of the
Nicaragua canal bill at this session of Con-
gres5. 1t must be remembered that all Of
the expense to be incurred by that project
does not have to be met by this genera ton.
The canal is to benefit the people in years
to come, and they readily share the
burden OF its projection and maintenance
l think that the people at large are in favor
Of prompt action upon the bill"
On ReappOrtionment.
What are your views upon reapportion-
ment. h was asked
II do not think the membership of the
House should be increased. The basis OF
/ representation should be increased even II
1t should necessitate one or two states
losing eacn a seat In the House. Compen-
sation for that loss should be gained by
basing The representation of the southern
states upon the actual vote cast. If those
states do not count the negro vote they
should not profit by the negro population
to swell their representation in Congress.
1 am positively of the opinion that We
should 90 something in the direction OF
now exists in this respect"