Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1908-01-16
DANGER IN DELAY
REPUBLICAN REPRESENTATION
is HURTING COUNTRY.
No Measures in Prospect in Congress
to Meet the Needs Of the Finan-
cial Situation-Democrats
Would Act.

The Republican DOCTORS are all
NAKED up on what ais the financial
patient, and are advising all kinds Of
treatment, hardly any two of which
approach agreement. Under the rules
of the house of representatives the
Democrats have M power to prescribe
for the disease the country is suffering
from. 1t may be said that the Re-
publican doctors have left the patient
in such a rundown condition that 1t
will require careful treatment and a
long period for recuperation before 1t
will be safe to put the patient under
the knife for a radical cure. But
something should be done forthwith
or a second collapse will result in a
more dangerous condition than the
present one.
Congress met on December 2, and
on the following day the president
recommended the need of immedi-
ate attention" to the necessity of an
elastic currency. Over two weeks be-
fore congress met the president said
in a letter to Secretary Cortelyou that
assurances had been given him that
leaders in congress are considering
a currency bill which will permanent
ly meet the needs of the situation.
Did the Republican leaders deceive the
president, or have they decided upon
another course? Senator Culberson
offered in the senate a resolution di-
recting investigation as to the causes
of the panic, but by the unanimous
vote of the Republican members the
resolution was referred to the com
mittee on finance instead of acting
upon it. In speaking to that question,
Senator Culberson said: Il want the
American people to know that there
are some men-the Democrats-in this
chamber who believe immediate action
is necessary" The Republican lead
ers, however, took no notice OF the
presidents recommendations, or, ap
parently, of the panicky condition o.
the country, with the banks refusing
to pay their depositors on demand, ex
cept that the speaker appointed the
committee on currency and banking
On December 81 congress adjourned
for 16 days, leaving the country to SUI
fer without relief, and when it reas
sembled on January 6 it did not have
a bill perfected to act upon. Such de
Law is cruel to those bankers and theil
depositors who r suffering, ant
shows the hardness of heart of the Re
publican leaders. Not that any legis
lation the congress is likely to accom-
plish will cure the disease. But If, TO
instance, a bill providing for a secured
elastic currency, drawing seven pc
cent. interest, was enacted, 1t woul'
relieve the tension in the larger none
tary centers, such as New York an
Chicago, and that would give relief t
the country banks by allowing tn
withdrawal Of their deposits at thos
centers. It would also help to fore
2 boarded none from its hiding places
and thus give confidence where bu
y llLIl6, IL any, INV OAloto' ouSA PNN
tive measures will not cure the fnar
cial disease, for Republican policie
a have caused too deep-seated trouble
to be cured off hand. There is grea
danger that when cash payments ar
resumed there will be a quiet u Q
/ the banks by many people, and whe
, cash is paid for cotton and wheat
/ will be boarded instead Of finding II
way into the country banks.
1t is not a pleasant future to fac
, but to delay much longer will be mo
dangerous, for every day the preser
conditions prevail will cause more d
preston at the manufacturing ar
4 wholesale centers.
Instead of taking a holiday for nea
ly three weeks, the Republican leadel
in congress should have forced II
d work day and night until a remedi
measure Of relief had been passed.