Evening star., 1907-11-19
MAY RETARD ACTION
Effect of Debate on Currency
Legislation.
.FINANCIERS ARE DIVIDED
Disagreement Regarding the Best
Remedies.
JEALOUSY OF THE SECTIONS
Country and City Members at Odds.
Prospect Of a Partisan
Discussion.
.FINANCIERS ARE DIVIDED
JEALOUSY OF THE SECTIONS


the optimism of President Roosevelt as to
early currency legislation is not shared.
Experience induces to the opinion that
there will be great deal of di cussion
before comprehensive and adequate legis-
lation can be enacted, and that this will
require time.
Upon no other question of public eco
nomics Is there such wide diversity of
opinion as on that of currency. On the
tariff Congress divides by party lines.
When it comes to currency party lines
dissolve, and the division is by individ-
uals. More h at and acrimony are dis
played in these divisions than any others.
as men seem to be more jealous of their
own opinions and intoIerant of those of
others when 1t comes to dealing with
this problem
Every man has his own solution of the
monetary problem, and insists that his
and his alone is the proper one; the other
fellow is fool. In the course of debate
they frequently intimate as much.
One of the main causes Of this lack Of
harmony is the disagreement of the finan-
ciers themselves. Conflicting interests,
selfish as sometimes denominated. prevent
general agreement of the flnancieIs upon
plans of relief action. and consequently
divergent views are communicated to the
Legislators themselves.
City and Country Jealous
Then there is the perennial jealousy be-
tween the urban and the rural sections;
between the banking and the producing
factions. 1t is a jealousy grounded upon
suspicion and distrust on the one side and
says: You are trying to take advantage
of me-" The financier retorrs: You
don't know what you are talking ABOUT;
you are ignorant of affairs" And so
they go.
Furthermore, after the House has acted
upon d currency bill it must go to the
Senate. Then there is sure to be dis
agreement. There are not only as many
different opinions in the Senate upon this
question as in the House, proportionately.
but the senators who disagree have the
advantage of being able TO to make good
their disagreement. They can hold up a
Dill and prevent action.
Tie suggestion mas been made that the
President can force q bill through Con-
gress to relieve the situation; that the
name Of Roosevelt is still powerful to
conjure with, as it was when the rail-
road rate bill passed. Whereupon, the
doubling Thomases maliciously ask where
is the President to find his inspiration;
VINO Will frame bill that Will nave the
Endorsement Of any one considerable sec
Il l of financial interests?
Partisan Debate Certain.
Incoming congressman say that there Is
sure to be some partisan debate on the
action of the administration in issu ng
$1OO,0O0,00O of one-year certificates of in
debtedneSs. The most of the talking will
be done 'by democrats from the rural Sec
tons. The republicans will not say much,
except to point out the necessity and the
wisdom of the action from a financial
viewpoint. They will leave it to the coun-
try to decide the merits of the case On
the eve of presidential campaign, how
ever, 1t Is regarded as too good an op-
portunity for the democrats to miss this
holding up the administration to criticism
for increasing the Indebtedness of the
government In time of peace.
Republicans say that democratic oppo-
sition may be rendered innocuous if the
plan Of relief works out well. The finan-
cial stringency in the west and south, they
point out, has no political boundaries If
there is generous response to the admins
tration's offer, resulting in the release of
boarded money and the easing I'D of
money conditions. the fulminations Of
theorists in Congress will have small eff
feet upon the intelligent citizenship. BY
the time the question comes up there will
be practical demonstration of the prac-
teal results of the administration move