The daily morning journal and courier., 1907-12-09
CURRENCY REFORM
 NOT HOPEFUL NOW Congress Seems Determined to Juggle With the
 Matter. S0Mc9F DlSc0RD OF IDEAS Pressure From the Business Public Seems to Be
 Called For.
SoMc9F DISc0RD OF IDEAS

With the opening of congress comes the announcement that no action with reference to currency is likely to be had before the end of the session. anJ that 1t is doubtful whe.aer anything will be done even then. This follows hard upon the statement of President roosevelt that the leaders in congress are working upon biIl and that the measure Is likely to be passed before Christmas. Accompanying both is the report that the house leaders are get ting ready to force a currency scheme through the lower chamber with little or no discussion. There Is no real in- consistency between these apparsnt- ly contradictory stories, inharmonlous as they may seem. On the contrary, they but too clearly indicate that the familiar and intolerable currency situ- atton which has existed in congress for many years still continues, and has not been transformed by the pressure of imminent financial disaster.
 There is only too much ground for the belief that a canvass of the con gressional situation has revealed the gravest and most uncomfortable dis cord of ideas, as well as extensive lack of interest, in currency and banking among the leaders. Those who con trol in the lower chamber are unin- formed on the subject, and they are SO little in touch with the real charae- ter of recent events that many of them still affect to consider the oc- currences of the past few weeks mere- ly Wall Street furry" In the senate the controlling factors are few men whose ideas on currency are narrow and reactionary, always indisposed to change situation as favorable to cer- tain interests as is the present one, and wholly indifferent to the princi- pies of money and banking in any large sense. The only power in con- gress that could force them out of their indifferent attitude would be a united demand on the part of their colleagues for some thorough and final action. But this Is just what cannot be expected. The deeply-root- ed prejudices prevalent for long time in the Western States, and the unfamiliarity of the majority of the
 members of the senate themselves with the technical aspects of this question, necessitate almost interminAble de- bate. education, political intrigue and
 concession before anything of a con elusive character--or indeed anything at all--can be adopted.
 This in itself would not be & hope less situation. It is far better than the prospect of Legislation before
 Christmas" with the crudity and in- completeness which would certainly
 mark any such hand-to-mouth enact ment, The panic is passing for the time, and there is no reason why con gress should not take its time to act carefully and sanely, pcrfecting it's bill in detail, and meeting as many of the conflicting ideas as possible But il does not appear to be the intent of ts leaders. There is most regretfnl disposition on the part of the lower house to evade responsibility for what ever is to be done The ruling clique wishes to send measure to the sen ate as quickly as possible, half baked as it may be, In order to be rid of any serious or protracted discussion with its possibilities of openings for Dem
 ocratic criticism The plan to cut out the banking and currency committee and railroad through some bill that will serve a temporaryspurpose, in de- fiance of the wishes of Chairman Fow-
 Ter and his associates, is thoroughly in line with the past attitude and in- dicates an unfortunate disposition to
 juggle with the issue this year just as heretofore. It is a proposal which purposely undertakes Ito disregard the counsel of the better informed mem- bers and to throw the final verdict to the few autocratic and narrow sena- torial leaders who have latterly been
 able to dictate all action on this and kindred questions.
 Congress ought to hear from its constituents in no uncertain manner on this proposition. The country has been expecting some serious exainina- tons of the banking question at the hands of the national legislature. h. stead, it finds that body disposed to play with the subject, and even com mitting itself in advance to ill-advised measures of expediency such as should never find place on the statute books. Coupled with this disposition is an inclination to consider the diff ferent phases of the subject from the narrowest political standpoint. The present is the most important oppor- tunity for disposing of the currency is- sue that has presented itself for de- cade. If the business public suffers congress to fritter 1t away in the usual manner a chance for remedial legis- lation will have been most culpably neglected-New York Journal of Conn 1Yoerne and Comm ernial Bulletin