The sun. [volume] (New York [N.Y.]) 1833-1916, 1902-12-09
SILVER TO Be KICKED OUT.
GOLD STANDARD ron All com.
TRIES on THE GLOBE.
That. II Is Expected. Win he the Result
OF Adjusting Philippine Currenc, Only
Makeshift Legislation by This congress
Mexico Taking steps 10 Cooperate.

WASHINGTON. Dec. s-A subject that az
present is receiving the earnest considera
ton Of the Congress leaders to the ex-
clusion Of almost everything else, includ-
ing the problem Of regulating the trusts.
il that Of the Philippines currency II il
admitted by the financial experts Of the
Senate and Hou-o. ord Of tie Administra-
ton as we'll, that the recent fall in the price
OF silver has brought about a crisis that must
be- met a. once by legislation
Senator Alolrch, chairman Of the Finance
Committee. and Senator Allison. also a
member of that committee and chairman
III tho subcommittee wi ich framed the
present Philippines coinage law. had talk
with the President to-day and later held all
extended conference at the Capitol.
The Philippines currency problem was
very fully con -idercd in the light Of the
unsatisfactory situation al Manila and a
critical analysis made Of the currency bill
Of the Philippines Commission, now pend
ing in the Senate and House committees.
Gen Wright OF the Philippines Com
ni' sIon appeared before the House com
mi { @ to-day, and to-morrOw will be heard
b" the Senate committee in advocacy of
this measure Ii il the opinion of the
H''''''H 'p' NuNli'liNa'N, lpN'N'i, NIldt " tO
not meet the situation and in fact that no
legislation Of a permanent character can
wisely be enact ed at the present time.
The reColt fall in the price of silver,
! iisorCan2ing. as il did. the currency sy--
TEN in all the silver-using countries. rem
dcr- serious action imperative but what
ever permanent plan Of lcgisat ion is agreed
upon will be 30 far reaching in its effects
that il has been determined 20 enact only u
temporary measure al this session of Con-
gross
II is regarded a. all-impor, ant that in
the settlement of this subject IN" Unit ed
States should have the cooperate ion Of all
siivor-u-iug countries including Mexico.
China India and the Straits Sett dement's
II II understood that Mexico has already
made over ur"S through diplomatic chan
| ncl- and The cooperation Of he other silver
! u-iug count ries il relied upon.
China II j. said is giving serious con-
Sideration to the problem, as that country
il responsible for the fall in the price Of
| silver. having become a seller Of the metal
III place Of being buyer. and no permanon,
system can be effected without her active
cooperation. III" paramount importance
OF this il the real reason for the decision
| OF the leaders to 60 slow in cnactng "A per-
| mancnt currency law. The ultimate re-
| suit Of whatever legislation is enacted
will he, il IL thought. the adoption of the
gold standard by all countries now using
| silver
The members Of the Finance Committee,
| including those who framed the present
| Philippine Currency law AZ the last ss'-
| sion, which took the form Of an anne. g.
m"'t 20 the Civil Government bin. lC1 k
! with no moro favor now upon gold stan J.
| ari measure which pa .sed the House In It
session than they did then They are
! in fact, entirely r''ouc!icl TO it's defeat
aud ray that if it had become a law il would
| nave compelled the Government In the
| present crisis TO pay one gold dollar for
| two silver dollars that are now worth 81
| CENTS each
For the present, various cxpetlients are
| being considered with which 10 tide over
| until the next Congress shall act. Tho
most popular of these mskeshifts and the
one which may be adopted within the next
few days, provides authority for the Philip
pine Commission To fix the exchange,value
Of silver at Manila daily.