The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1907-12-17

Continued from Page One,)
ever. but would make it imperative
that the Secretary accept all State and
municipal bonds within certain limi-
tations.
FINANCIAL PANACEAS.
From the very first day of the ses-
sion there was a flood of financial bills
introduced in the Senate and House.
Some credit occasionally goes with au-
thorship and when so many statesmen
have ideas on the same topic there is
much Importance in being the first
man to get a given idea into print. 1t
is unlikely that any of the first rush
of bills will be the one finally adopted.
Probably the Finance Committee of
the Senate Will eventually evolve the
bill that becomes a law, if any bill for
the reform of the currency is that for
tunate.
Senator Aldrich, of Rhode Island,
and Representative Lowering, of Mas
sachusetts, are friendly TO the idea Of
allowing the clearing houses to issue
the credit currency and this might be
done by legalizing clearing house GER
| tificates and permitting them to be is
sued in the form of bank notes, bear
ing the government stamp, backed up
by the deposit of securities and sub
jected to a heavy tax.
THE SPIRIT OF THE HOUSE.
Altogether it seems that there may
be a repetition in a greater or less de-
gree of the battle between the Pres
ident and Congress in the enactment
of the rate law. 1t was supposed that
| the opposition in Congress to the Pres
| ident had subsidized considerably and
that the President was going to keep
his hands off Congress. as many of its
members have angrily but persistently
asserted that he should do. That, how
ever, may not be realized.
Even at the caucuses of the two par
| ties in the House, there developed evil
| dences of the spirit with which legis-
! lation is to be accompanied. For in
| stance the Republican caucus refused
to admit Representa- tive Peter A. Por-
ter, the COW man, so called, of Mia
CARA Falls, n. Y. whose Republican,
ism is championed by President Roos-
| evelt. Tt will be remembered that two
years ago the President had a meat
| inspection bill before the House, which
was bitterly fought by Representative
James Wadsworth, of New York.
1
tee. Mr.. Wadsworth had some spicy
| correspondence with the President
| which reached the public. In effect
Mr.. Wadsworth was sassy. The meat
| inspection bill went through in spite of
Mr.. Wadsworth. who was renominated
| for Congress and opposed by an inde-
| pendent Republican, endorsed by the
| Democratic convention. This independ-
ent Republican was Peter A Porter.
who rode to rallies during the cam
| paign on a cows back. Mr.. Wads-
worth was more or less influential in
the House and before he left he
! brought it about that Mr.. Porter's
| name should be entered on the Demo
cratic rolls. The House Democrats will
| have none of Mr.. Porter because he
| proclaims himself a Republican and
Chairman Pete" Hepburn. of the
House Republican caucus, refused to
| issue an invitation TO Mr.. Porter TO
attend the Republican caucus. He an
pealed but the House Republicans by
resolution declared that he was not
] eligible. This was something of A slap
| at the President, because he had con-
Quoted a quiet campaign in Mr.. Por-
ters behalf, not proposing that Mr..
Porter, after having championed the