The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-03-18
GOLD BASIS IDEA
WAITS ON PEACE
United States Commission on In
ternational Exchange in an
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Embarrassing Position.
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= 49,
Washington, March 1S.-Congress did
not see 1T; at the recent session to re-;
viYe the commission on international
exchange, of which Hugh H. Hanna OF
Indianapolis was chairman, but this
does not mean that the movement will
!: beSs abandoned. The members of the
commission did not ask that the organi-
mend that congress- make it possible for
the state department to follow up the
work already done. The idea was that
an appropriation should be made with
which to send a special agent of the
state department to China. The con-
trolling minds in congress decided that
it would not be worth while, to do even
tion on the subject the department. will
continue the negotiations! with China
| thru diplomatic channels. 49,
Congressman seem to have an impress
sion that the present is not an oppor-
tune time for movement to put China
on the gold. basis: :, When the subject
that it would be wise to wait until the
Russian-Japanese war is. ended: 1t was
pointed out that China is not likely to
undertake a radical change ip it's none
tary system while the present war lasts.
should Not Throw Away Chance.
Z The only point on which Mr.. Hanna
and the members OF his committee were
insistent was that the United States
ea nf tafq y at 5ha hao De BY
abandoning the negotiations to bring
the silver standard countries to the
gold basBl AsAESxisp Isl slowly. but slgre:
| gold Standard; ] ard PaPfessor s. ".
jerks Of the Hanna cammission, who
sstd a aRs eEEs w e.
great ;;faver -en the egol q standard propo
.sitiop. Professor Jerks came home
front his mission convinced that if the
United States would continue it's nego
tiations China would soon be ready tc
adopt the recommendations Of the com
{ :. Willie the State. department. wvill:no1
probable that it will not do more thar
to keep the subject alive during the
coming year = IF by that time peace
shall have settled over the east, con
gress will once more be appealed to tc
provide for carrying forward the nego
4 tiations along the%, lines originally
planned.
-: President Disappointed: -. ~ !: !
IT may be said that it was a distinct
disappointment to the president and t,
Secretary Hay for congress to refuse
money for carrying. out the commits
sion's Recommendations j., The United
States, it is averred, is left in a some
what embarrassing position. Two
years ago, by authority Of congress, thu
commission composed Of Mr.. Hanna
Professor jerks and Charles A: Conan
visited Great Britain, France, Germany
and Russia, and presented the PROPOSE
currency system. It was admitted a
the European capitals that the United
States was in Favorable position t.
take, the lead in such a matter, both OF
account of China 8 invitation, and be
cause it was not suspected of seeking
territorial extension. The principle Of
the plan was approved by all the Euro
pean nations.
| The next step was to take UP the
subject with China and Mexico, which
was done, and encouraging progress was
cut off the pay of the commission an(
its expenses. -
The embarrassing duty Of explaining
why it was that the United States vir
tually abandoned it's mission after hav
ing made such an encouraging begin
ming now devolves upon the state de
partment. Both the president and Sec
rotary Hay bestow unstinted praise or
Mr.. Hanna for his, work as the head, Of
the commission, and if the time comes
when congress is willing to authforize
the plans that were originally outlined
he will undoubtedly be called to take
Iup the work where he was forced to lay
it down,