New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-10-08
COMHISSION USELESS.
One for Financial Inquiry WOuld
Disagree or 4ntagOni2e.
[FRo,I me rRIRuNE BrREAr.I

Washington, Oct. THE advisa biity of Gre
ating n monetary commission TO devise per
feet financial system for the government, to be
suggested by President Roosevelt to Congress.
was actively discussed in Washington to-day.
The visit to the White House of Representative
Hill. Of Connecticut. the ranking Republican
member of the last House Committee on Bank
ing and Currency, started the gossip Mr.. Hill
volunteered the admission that he had heard
the commission idea suggested by number Of
prominent Republicans
II is not believed here, however. that the idea
will be adopted by President Roosevelt that
he entertains it seriously. 1t is pointed out that
Congress has never shown a disposition 10 leg
islate on any subject in accordance with the
dictation Of a commission previously appointed
to make suggestions In the case Of financial
legislation where every legislator who has made
a study of the subject has very positive views.
this inclination 70 follow the lead Of commits
sion would be doubly uncertain. 1t is declared
doubtful. even, if a commission could be selected
which would possess both the ability 10 deal in
a masterful way with the question and the
further essential qualification of agreeing on
any set of recommendations. The latter essen
tiaI is regarded as presenting the most hopeless
aspect of such a plan.
The impracticability Of the whole scheme dis
closes itself when an effort is made tentatively
TO name such a commission. For instance,
should it be composed Of Secretary Shaw.
Speaker Cannon. Senator Aldrich and Repre-
sentative Fowler. there would be represented
four sides Of difficult problem. Secretary
Shaw suggested an emergency currency taxed at
the rate OF . per cent. in his recent Chi
cago speech. Speaker Cannon has been unable
to discern the necessity Of any financial legisla-
ton whatever; Senator Aldrich believes in sub
shutting State and other bonds for government
bonds as security. and Representative Fowler
is an enthusiastic exponent Of asset currency.
How practical recommendation for the action
sion is difficult to see, and the recommendation
Of a commission which did not represent all sides
of the question would be met with decided OPP
position in Congress. II il were deemed ad-
visable 70 make the commission nOn-partisan.
the addition Of several Democrats would hardly
make the prospects of harmony
II good is TO be looked for from a monetary
commission. il is suggested that the thing to
committee recently appointed by the National
Bankers Association to delve into the prob
lem, This committee is composed wholly Of
bankers. and represents perhaps more the prac-
teal and experienced opinion than the theoreti-
cal legislative. Just when or how the con-
illusions Of this committee are TO be made avail
able is not known. but they will undoubtedly be
in hand for the OF Congress long before that
body gets down 70 the real business Of legislat-
ing on the financial question.
There would be. in the highest official opin-
ion. one result accomplished with certainty by
such a commission suggested by Representa-
tive Hill and that is the effectual postponement
OF financial discussion for at least another year.