The Republican. [volume] (Mountain Home, Idaho) 1903-1909, 1908-01-23
WASHINGTON LETTER
Aldrich Bill a Center of Much
Discussion in Congress

Washington, ID. c., Jan. 18, 1908.
The currency question now
threatens to be almost as thor.
oughly discussed in the Senate and
House as was the rate bill of two
years ago. 1t was thought for
while that very little would be
done with the currency question
except to pass very conservative
measure that at least would do no
harm. Congress is afraid to "tin-
ker" with the currency jus. as it
refuses to tinker" with the tariff.
The reason for this is that it is a
very intricate subject, and is not
we'll understood either by Congress
or by the country. Leading Sena-
tors and Members of the House,
h wever, recognizing that some.
thing must be done have deter
mined that the whole question
shall be thrashed out fully, and in
the end out of the numerous ideas
that are brought forward some
measure may be enacted that will
save the country from such Cause
less panics as we are now exper-
iencing. Senator AL rich has
brought in bill, which o pre-.
sumed to represent the ideas and
wishes of Wall Street, the financial
center of the United States. The
bill is designed to give greater elas-
ticity to currency when needed and
to automatically retire it when the
demand ceases. At least that is
what he claims will be the result
if his measure is adopted. There
are points about the bill that gives
promise of help in financial stress,
and other points that have pro.
duced tremend us opposition in
the Senate as we'll as ia the House.
The opponen 8 declare that the
measure not only aids, but would
be of immense value to Wall Street.
A great many other proposed meas
ures have been advanced N the
Senate Bacon, Hepburn and Hans.
borough have different schemes
that are attracting considerable at
tention. 1t is almost certain that
the democrats In the Senate as we'll
as o great many republicans will
oppose Aldrich's bill. Of course,
there is nothing strange In demo-
cratic opposition to a measure sug-
gested by any republican, but OPP
position from republicansis another
thing. as republicans have habit
of being united on important ques-
tions. The most of the republican
opposition to Aldrich's proposed
measure comes from the west, and
his bill will receive very sharp OPP
position from Senators from that
section. The House and Senate
seem to be at loggerheads on the
currency. Chairman Fowler, Of
the Banking and Currency Com.
mittee of the House, Ia violently
opposed to the Aldrich measure,
and his committee is preparing
measure which he hopes to have
pass the House. 1t is generally
recognized that the Aldrich plan is
more OF a makeshift or temporary
expedient, while Mr.. Fowler favors I;
a system that would be more sub
stantial and permanent. AS al
whole, however, it comes down toI
the fact that 1t is a contest between
the national banks on the one
hand, who are following Mr.. Fow-
Ter, and the brokers on the other
whom Senator Aldrich's measure
seems to benefit The east seems
TO be with Allrich, while the south
and the west are against his plan.
However the country is to have
discussion OF the whole question,
which will be of immense value, 90
both Congress and the country will
De better able to decide what is best
or the country.