New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-08-27
CURRENCY LEGISLATION.
Congressman OUerStreet Says 1t Is
Not Needed.
fFRoM THE TRIBUNE BUREAU.I

Washington Aug 6-Representative Over
street, Of Indiana, secretary of the Republican
Congressional Committee is in Washington. He
is deeply interested in the financial question.
He was conspicuous and energetic in the move
ment which resulted in the gold standard laGs-
latIon Of 1900 is a member Of the Committee
on Banking and Currency, of the House. and is
regarded as one Of the practical legislators on
financial subjects. Asked his opinion upon the
necessity for further legislation, Congressman
Overstreet said:
"Of course. would be glad to see additional
currency legislation. and would deem it advisa-
bic. At the same time, I want to emphasis
my opinion that it is not necessary to the con-
tnuance Of prosperity. There are two main
features of the financial situation:
''First-The certainty and security of our cur
rency.
'Second-The freedom of its circulation
Now the certainty and security of the cur
rency are assured by the legislation already on
the statute books, especially the gold STANDARD
act of 1900. There cannot be the shadow or
ghost of doubt as to the absolute stability of
our currency. 1t is founded on rock bottom. and
cannot be assailed or shaken.
The freedom Of circulation can be secured by
continuance Of public confidence. Why should
not public confidence continue? There is moth
ing in the industrial conditions of this country
TO menace prosperity. The banking conditions
are much better to-day than they were one year
ago. The little furry in Wall Street makes no
Impression whatever in the West: 1t has not
caused as much commotion in industrial and
financial circles the falling of autumn
leaf Let public confidence continue. and We
VIII have no cause to complain of the freedom
Of circulation.
industrial conditions throughout the country
west Of the Susquehanna River are in every way
admirable. The country seems to be IN a fever
OF industrial activity. Men are busy everywhere,
working night shifts as well as in the day time.
Inc crops are splendid, railroads are taxed to
thelr utmost to move the accumulation or
Irelght at every point and on every hand are
indlcatlons of thrift and industry
Speaking OF the promotion of General Wright
street said.
Il was glad to see that General Luke E.
wright of Tennessee has accepted the presi-
dency OF the Philippine Commission to succeed
Judge Taft Here is Democrat of prominence.
an eX-Confederate, and a man Of conservatism
and influence, taking up the work in behalf OF
the Fuipinos which was begun by Mckinley
and continued by Roosevelt. 1t should be a
guarantee to the men Of General Wrights own
political faith who have opposed our policy in
the Philippines that we are right in that policy
and that the criticisms which have been in
dulged in by Democrats and against US are
wrong.
1T is evidence to conservative people that
General Wright, being on the scene, has found
that the United States Government. under this
administration and the one Immediately pre-
ceding it, is dealing with the Philippine problem
would not remain in the islands as the head OF
| the administrative commission. The Democra Is
| have abused the Republican administration for
| its Philippine policy. I m frank TO say that
we have not always enjoyed our position. II
! mas been a difficult at times, but we have
| stuck to II because it was right