The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-11-26
FOWLER IS WISE
ON CURRENCY FIGHT
Difficulty of Securing Legis-
lation Illustrated by
Him.
Attack on Secretary Cor
telyou Precedes RumorS
of His Removal.

The tremendous difficulty Of getting
currency legislation through Congress
was splendidly illustrated by the ami
mated discussion which followed Chair
man Fowler's criticism Of the Cortelyou
plan of currency relief.
Mr.. Fowler is a person to be reckoned
with. he is not only chairman OF tho
House Banking and Currency Commit
tee, but more important even than this.
he is one OF the few men in the House
who are conceded to possess expert
knowledge Of the currency questions.
The average Representative SHES vio-
lentIy. and frankly admits that he
doesn't know anything about the money
question beyond the pleasant general
ties that serve the purposes of the poll
teal stump. He can affirm with huge
solemnity that every dollar Of our
money must be as good as any other
dollar" and he has a vague notion that
Il Is desirable 10 have enough money,
hut not too much. Whether he is for
elasticity. however. he isn't generally
quite certain He Is ant to be for "a
proper and safe adjustability of the vol
ume OF money TO needs" but against
anything suggestive OF imitation" In
other words, he hasn't a concrete idea
that is worth cent as a guide in con-
structing a statute
Fowler Has Program.
Chairman Fowler has the advantage
OF concrete ideas. definite conclusions
and a program. He is a power in his
committee and in the House. II he re-
mains chairman OF the House COM
tee, after his remarkable criticism Of
the Administrations financial measures.
It will be accepted as indicating the fall
ure OF financial legislation this session.
Mr.. Fowlers attack on the Cortelyou
measures was savage 1t was not mere
criticism. but rather arraignment: and
IT was arraignment for that most IN
forgivable Of errors, ignorance. The
White House promptly made plain that
no attention would be paf1, IN public
way, TO Fowler. But II Is known that
the criticism was deeply felt there, and
that IL is warmly resented both by the
President and the Secretary OF the
Treasury.
whether Speaker Cannon will continue
with Mr.. Fowler as head OF the Cur
rency Committee after such an attack
on the Administration. Some excited
people have assumed that the Speaker
would hunt up q new chairman without
delay: others have rushed to the conclu-
sion that the President would demand
the head OF the offending Fowler, and
that It would be promptly delivered to
him by the Speaker
Suspected of Sympathy.
or course, neither will happen. The
Speaker is strongly suspected of sym
pathy with the Fowler view. He has
never been for currency legislation. and
The expressions which have come from
people closest to him in the last month
contain little encouragement for belief
that he has changed opinion. Beyond
this. there IS much misgivinE as to
whether the Speaker cares to push Ad-
ministration policies at this session
Last Congress President and Speaker
had a working arrangement, under
which the Speaker helped pass the rate
legislation. and tho President refrained
from pressing tariff revision. But that
agreement was made for that Congress.
II a new one has been made to cover
the coming session. nobody knows II.
and nobody seems TO believe II has been
made. The Speaker IS a candidate for
president and he IS getting to be a
good deal in earnest about II. The Pres
i0ent IS for another man. This might
be forgiven, but the widespread impress
=
whom the President regards as impos-
stble-as -eactionaries.
Fowler viii Remain.
Cordial cooperation Is not likely to
be carried. under such circumstances, to
the point Of the Speaker reorganizlng
q big committee IN order TO help the Ad-
ministratiOn. Chairman Fowler will re-
main where he is. and his committee
will probably continue OF about the same
complexion as before The truth is that
the outlook for any currency legislation
IS about 30 per cent less than It was be
fore the Fowler statement There is an
immenss force OF inertia in the House
that opposes doing anything with tho
currency. This opposition is based more
on the notion that agreement is abso-
lutely impossible than on any convic
tion that present conditions are sats-
factory.
From all present indications there Is
Just one thing that can yet save the
day for currency legislation. That IS
Speaker Cannon could be brought to be-
lieve in II II the bankers OF Illinois
should unite on an effort TO push him
into II. But they are not united.
Middle Western state The country IS
full OF people who feel sure that elias
ITCHY means dangerous imitation, and
who regard asset currency as just twice
as bad as free silver: 100 per cent fat
against % per cent fat. Nobody can cir
culate among the gathering statesmen
md gather up the various expressions
a bo1ii the money situation, without be-
ing Impressed that before there can be
currency legislation there must be either
a vastly worse panic or else long and
earnest campaign Of education.