Weekly independent. [volume] (Elko, Nev.) 1887-1914, 1908-01-24
DANGER In DELAY,

The republican doctors are all mixed
and are advising all kinds of treatment,
hardly any two Of which approach
agreement. Under the rules Oi the
house OF represt natives the democrats
have no power to prescribe Tor the
disease the country is suffering FROM.
II may be said that the republican
doctors have left the patient in such a
Rundown condition that it Will require
careful treatment and n long period for
recuperation before it will be safe to
put the patient under the knife FOR Il
radical curo. But something should be
-done forthwith or a second collapse will
resu!: in n more dangerous condition
than the present Que
Congress met on December ., and on
the following day the president recon.
mended 'the need Of immediate Htten-
ton 10 tho necessity OF ar elastic cur
reucy. Over two weeks before on
gress met the president said i'll a letter
to Secretary Cortelyou that assurances
had been given HIN that leaders in con.
gress are considering a currency bill
which will permanently meet tho needs
Of tho situation. Did the republican
leaders deceive the president, or have
they decided upon another course?
Senator Culberson offered in the senate
q resolution directing investigation rs
70 the causes Of the panic, but by the
unanimous vote OF the republican
members the resolution WIS reierred to
the committee on tinance 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-thc democrats
in thus chamber who believe immediate
action Ii necessary Tho republican
leaders, however, took no notice Of the
p%resident's recommendations, or appar-
emily, OF tue panicky condition Of the
country, with the banks refusing to pay
their depnsitors on demand, except tha.
the speaker appointed the committee on
currency and banking. On December
q congress adjourned Tor IL days, leay.
ing the country to suffer without relief,
and when it reassembled on January G
II did not have n bill perfected TO act
upon. Such delay In cruel to those
bankers and their depositors who are
suffering, and shove tho hardness OF
The republican leaders. Not TINT any
Legislation the congrees is likely 10 nc.
complish will cure the discase. But II,
for Instance, n bin providing for a
secured elastic currency, drawing seven
per cent interest, was enacted, 1T wonld
relieve the tension in The larger mono.
iRry ce0ters, such as Now York md
Chicago, and tina, would give relief 10
the country banks by allowing the with.
drawal OF their deposits at these centcn.
II would also help tn force hoarif d
money from its hiding plncca. and thus
give confidence whore but liIile, IL any,
noy exists. Such palliative measures
will mol sure the financial disease, 20,
republican policies have caused too
decI : seated troubles IT, DO cured off
hand. There is great danger Tia, whom
each payments are resumed there viii
be a quiet ran on the banks by MAN.
people, md when each ia paid for cotton
and wheat il will be hoarded instead OF
finding It's way INTO the country banks
II is impossible 10 calculate tho amount
OF money that will thu be taken ont OF
tho usu j ~ business, but Il
will surely be eL ough to make trouble
for the country banks unless their per-
oentage OF cnsh deposits Tar exceeds the
usual limits. A further drain on tho
country banks will be caused by the
Btorokeopere being compelled to pay for
goods bought in the fall, for further ex-
OF credit con hardly be expected
rom the jobbers and wholesale mon