Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1903-09-03
IRONTON. MO. THURSDAY. SEPTEMBER g. 1903, NUME
Our Washington Correspondence.

of financial subjects agree that the
prospects of important and bene-
fetal financial legislation at the
next session of Congress, viewed
from the present outlook, is ex-
tremely doubtful. 1t is freely pre-
dicted that the Republican Sena-
tors cannot be made as unanimous
for the Aldrich bill again as they
were at the close of the last session
of Congress, when the bilrN s de-
feated merely because there
not sufficient time to allow few
of the opposition Senators to give
their views. Not only is there less
unanimity of Republican senti-
ment for what was known as the
Aldrich ideas, but the Democrats
promise to oppose these ideas,
although declaring that they will
welcome financial legislation that
will be of real benefit to the coun-
try.
The Democrats will not oppose
any legislation of a financial nature
for which there is united demand
by the business interests of the
country, but they realize that there
is wide difference of opinion as
to the Aldrich bill and they will
attack that measure or it's prin-
ciples embodied in any other
measure.
A principal feature of the Aldrich
bill was the provision that State,
municipal and railroad bonds of
approved classes might be ac-
cepted by the Secretary of the
Treasury as security for the de-
posit of public moneys. The Dem
ocrats are attacking this feature on
several grounds. Their first OBJ
lection to it is that it encourages
the continuation of a surplus in
the Treasury, when the tariff laws
ought to be amended so as to pre-
vent such a surplus; second, that
if the people were relieved of tariff
burdens to the extent of $50, ,OOO,-
600 or S40,000,000 year that
amount would not have to be
placed in the hands of national
banks for their benefit; third, that
in making such deposits thel banks
are being allowed to use the gov
ernment money without interest.
The leading feature of the Dem
ocratic position, however, is that
the government is every day ac-
cumulating money that it cannot
use, and that to prevent a financial
crash by reason of the accumula-
ton of this sum outside of trade
channels, the Treasury Department
is compelled to do something with
it; that one of the ways of putting
the money back into circulation is
to deposit it in national banks.
Another contention is that the
placing of this money in banks en-
courages over-speculation and the
putting out of endless stocks of all
kinds. 1t will be claimed by the
Democrats that if the banks are not
burdened with money they will
not make loans on anything except
legitimate business, but if they
have plethora of funds, includ-
ing those of the government, they
will lend on stocks that are not
gilt-edged, and thereby encourage
over-speculation and dangers that
might menace the business of the
country.
To sum it up briefly, the Demo-
Gratis will say that to get rid of this
state of affairs, instead of providing
for easier methods OF putting out
government money, the reforma-
ton of the tariff and the reduction
of the government income would
be the best and safest plan, the
position being that there is plenty
Of money in the country.
The Republicans are all tangled
up on this money business, and
the Democrats will take advantage
of their demoralized condition. It
gives the Democracy the best pos
sible opportunity of giving the
country an object lesson on the
blessings of tariff reduction as a
means of keeping all this surplus
in the pockets of the people, in
stead of fighting over plans for
getting it back to the people after
taking it away from them for the
behoof Of the trusts and monopolies
Of the country.
There is some rather severe criti-
cism Of the President here in po-
litical circles in the National capi-
tai on account Of the recent naval
review. That review ordered by
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