The Hawaiian gazette., 1909-12-10
OUTLOOK BEFORE THE
CONGRESSIONAL OPENING

ident Tart u following closely in hia
footsteps in that regard OF course
the executive has legislative functions
under the constitution by virtue of his
veto power. That fact is argued as
giving the President warrant for Get.
ting through senate and honse snch
measures as he is willing to sign. Fur.
thermore he is the leader of his party
and in such a compact organization as
the Republicans have. the voice of the
leader is pretty nearly supreme over all
branches of the government save the
judiciary. The practice of arranging
legislation is not likely to cease. at
least, as long as any one party has the
presidency and both branches of con.
gress.,
Monetary Commission.
The meeting of the monetary COM
mission, held in Washington late last
week, brought a number of prominent
congressman to town. Senator Aldrich.
who has been lecturing on finance out
through the West, was one of them.
There will be numerous meetings of the
commissioners during the winter as it
is claimed the more the commission
studies the monetary situation the more
present their activities will be directed
much toward educating the public up
to the Importance of some financial
legislation. Senator Aldrich IS tour was
for that purpose. Other members of
the commission have been making adj
dresses Probably Representative John
W. Weeks of Massachusetts has done
as much as anybody except Senator
lah Nn NhaN
now has completed goodly number of
papers and articles on various phases
of the banking situation. These are
to be given to the newspapers, in the
hope of encouraging publication and
discussion during the winter. The
members of the commission disclaim
having formulated any bill thus far or
having any particular favor for this
or that specific plan. Nevertheless the
conviction is general that the leading
members of the commission are pretty
well committed to the central bank;'
idea and that they are masking their
conclusions against the day when the
public shall have discussed the central
bank idea, gained some further infor-
nation about the necessity of financial
legislation, and shown a readiness to
acqulesce in such measure.
Looking Abroad.
The work the commission has been
and is doing in furthering information
about financial systems in divers coun-
tries and the operations thereof is
most comprehensive. All this will be
printed and enough has already been
gathered TO make couple score of
large volumes. The commission includes
about thirty senators and representa-
tives-the members of the banking and
currency committee of the house and
of the finance committee of the senate
at the time it was created some two
years ago. Since then several members
of those committees have been retired
to private life and have been continued
on the commission at good salaries.
Among such are ex-senator Henry M.
Teller, of Colorado, and ex-Representa-
tive Jesse M. Overstreet, of Indiana,
and Robert Bonynge, of Colorado. They
are devoting most of their time to the
work of the commission as are a num-
Der of experts whom the commission
has employed.
No Legislation.
There seems to be no intention of
trying to enact a financial bill at the
Forthcoming session of congress, in
spite of the Democratic statements to
the contrary. The campaign of edIica-
ton is TO proceed at least for another
year and apparently the report of the
commission will not be made before
that time. Unless the congressional
elections next year go against the Re-
publicans there will hardly be any at
tempt at financial legislation under two
years. From all of which it will be
understood that the commission is lay
ing the broadcast foundations for an
educational campaign probably that has
ever been attempted in this country,
unless one except Mark Hanna great
educational campaign preceding Nc
Kinley's first election to the presi-
dency.
Meanwhile the opposition is rapidly
forming. 1t is focusing around the idea
that the Aldrich commission contem-
plates advocating central bank. Many
Democrats, in fact most of the Demo-
Gratis, are ranging themselves with the
opposition and they will have Republic
can company. Foremost in the Republi-
can category is Representative Charles
n. Fowler, of EliZabethtown, n. j. He
was formerly chairman of house bank
ing and currency, but Speaker Cannon
deposed him, because he was an insur-
gent on finance and other topics. Sem
ator Aldrich claimed he could not serve
on commission of which Mr.. Fowler
was member and accordingly Mr..
Fowler was not placed on the finance
commission. Lately he has been trailing
Senator Aldrich around the West and
making speeches in opposition to the
ideas the senator advanced. There will
be some debates on the central bank
idea during the approaching session.