Clarke courier. [volume] (Berryville, Va.) 1869-1997, 1903-09-02
FROM WASHINGTON
Special Correspondents Of the oounIrn.
Washington. Sent. |

- '"e's = Civ " REPRESENTATIVES
and well-informed students of fl
nancial subjects agree that the
prospects of important and benefi-
cial financial Legislation at the next
session ofsCongress, viewed from
the present outlook. is extremely
doubtful. 1t is freely predicted
that the republican senators can
not be made AZ unanimous for the
Aldrich bill again as they were at
the close of the last session of
Congress, when the bill was de-
fcated merely because there was
not sufficient time to allow n few
of the opposition senator's to give
their views. Not only is there less
unanimity of republican sentiment
for what was known rs the Aldrich
ideas, but the democrats promise to
oppose these ideas, although de-
claring that they will welcome f.
nancial legislation that will he of
real benefit to the country.
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 at
tack that measure or its principles
embodied in any other measure.
y principal feature Of the Al
drich bill was the provision that
state, municipal and railroad bonds
of approved classes might Ice ac-
ccpted by the Secretary of the
Treasury As security fer the deposit
of public moneys. The democrats
are attacking this feature on sew
eral grounds. Their first obiec-
ton to it is that it encourages the
continuation of Il large surplus in
the Treasury. when the tariff laws
ought TO Doe amended 50 a. TO pre-
vent such surplus second. that
If the people were relieved of tariff
burdens TO the extent of $50, 0OO, 900
or $40, 600, 900 a year that amount
would not have TO be'placed in the
hands of national banks for their
benefit; third, that in making such
deposits the banks are beingallowed
To use the government money with
out interest.
The leading feature of the demo-
cratic position. however, is that
the government Is every day accu-
money that il cannot use.
and that 10 prevent financial
crash by the reason of the accumu-
lation of this sum outside of trade
channels, the Treasury Depart
ment is compelled to do something
with IL; that one of the ways of
putting the money back into circu-
lation is To deposit it in national
banks. Another contention is that
the placing of this money in banks
encourages transportation and
the putting out of endless stocks
of all kinds. 1t will be- claimed 10y
the democrats that if the banks are
not burdened with money that they
will not make loans on anything
except legitimate business, but that
if they have Il plethora of funds,
including those of the government.
they will lend on stocks that are
not giIt-edged, and thereby on
courage over-Speculation and dan
gers that might menace the bust
ness of the country.
To sum it up briefly, the demo-
Gratis will say that to get rid of
this state of affairs, instead of pro-
viding for easier methods OF put
ting out government money, the
reformation of the tariff and the
reduction of the government in.
come 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. 1t
gives the democracy the hest pos
sihle opportunity of giving the
country an object lesson on the
blessings of tariff reduction as II
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 monopo-
lies of the country.
Since Mr., Roosevelt became
Fresident of the United States and
has been in the limelight, the peo-