The Prince George's enquirer and southern Maryland advertiser. (Upper Marlborough, Md.) 1882-1925, 1907-12-06
MEASURES BEFORE CON-
GRESS.

Although Congress will give its
attention to a number of measures,
those that are paramount in the pub
lie mind are currency regulation
and ship subsidies. The first meas
ure is more or less sdventitious in
its nature. There has not occurred
anything fundamental to altar the
conditions under which the coun-
try's finances have been operated.
There has not been any movements
in the metals to cause an unbalanc-
ing of the equipose between gold and
silver so as to revive the Bryan cry
for a fictitious parity of values.
There is such widespread prosperity,
the crops being abundant, that nc
occasion has been created for anan-
cial tinkering in order to adjust the
circulation to industrial depression.
One is led to wonder at the urgency
of the demand for financial legisla-
tion in view of these circumstances.
There has been more than furry
in securities, but the phenomenon
was not symptomatic as far as in
dustry is concerned. The sensitive
ness of capital when once startled
leads to contraction, and this has
been strongly marked egect Of re-
cent conditions.
But as many ailments require
remedies rather than cures, there
being nothing chronic in them, so
the financial situation is one for
remedy rather than course of her,
-oic treatment. President Roosevelt
in his last general message to Con-
gress was chary in recommending
financial legislation, although CIV
ing perfunctory approval to the cur
rency plans of Secretary Shaw. l.
is not believed that he is enthusiasts
tic for an overhanling of the subject
now, although, like many other per-
sons, he has been appalled, at. the
grave danger into which the coun-
try was brought by recent happen
ings. But as the circumstances that
brought about the strlngency are
not likely to recur in similar form,
and as it is impossible to properly
guage all future conditions that
might bring about a lack of conf
dence upon the part of the public, it
would seem as though an attempt to
prescribe for the. financial ills of the
country upon a general plan would
be prescribing upon hypothetical
grounds. That the country has not
q perfect financial system goes with
out saying. That Congress should
proceed very slowly in making
changes and not act upon too broad
an assumption from the late acute
conditions is just as true. Indeed,
the very agitation of the subject at
this time may have the unfortunate
effect of causing the people to be.
lieve that the ills are more deep
rooted than is in reality the case.
The matter mig bit very well be CIV
en- over to an expert commission and
allowed to rest in such hands for tu.
ture recommendation to Congress.
This action would have the best
possible effect in allaying present
perturbation.
The subject of ship subsidies is a
pressing one. Considered either
from the point of view of the need
for class of vessels readily convert
ible into cruisers and transports or
from the point OF view of the coun
try's commercial necessities, the de-
STABILITY OF having the government
encourage the opening of new lines
of commerce to South America, Pa
cific islands and Eastern points finds
strong support. The failure of Con
gress at it's last session to take &C.
ton leaves the work for the present
one. The plea that this is class leg
islation is answered by the fact that
it is only proposed that the govern
ment shall compensate the American
shipowner for the disadvantage he
is under by reason of the higher cost
of ships and labor as compared with
his foreign competitor. This is
merely extending protection to the
shipping industry until it is able to
keep the vast amount of freight
money at home. 1t has been con
tended that a feature of successful
operation of the ship subsidy law
would be the removal by Congress
of all duties upon shipbuilding ma
terials or the reduction of duties to
the point at which the builders
would be materially aided in meet.
ing the competition of the foreign
shipyards.
1t is likely that the arguments for
a ship subsidy law of moderate
reach, such IS was supported by the
administration in the last Congress,
will find favor in the present BODY,