The Washington times., 1911-11-24
NEEDED. A POLICY FOR CON.
CRESS.

NEEDED: A POLICY FOR CON-
CRESS.
On the eve of the session of Con.
gress, the well-nigh universal predic-
tion is that the legislative achievement
will be Of formal and of no general ac-
count. About the usual billion dollars
in appropriations will, of course, get
the 0. X. There will be vast amount
OF conversation, many protestations OF
purpose to economize--and not one per
cent of variation of the total from the
average of the last five years.
That much can be foretold just as
well now as it can be chronicled after
the session shall have adjourned.
1t is about the only thing that
can be forecast accurately, except that
mighty little will be accomplished be-
yond the distribution of the money.
Yet there has not been in many years
a time when need was more urgent for
specific constructive legislation.
On the question of currency, for ex-
ample, there is at least nation-wid
agreement that something is needed in
order to give business feeling of
greater security against a financial
panic. That present conditions are i'm.
possible, is agreed by about every
body. And in that connection it is in
teTesting to recall the last effort at
guaranteeing financial stability. Ref.
erence is had to the Aldrich emergency
currency bill.
That measure was in truth an emer-
gency affair. 1t was limited to six
years operation, and has about two
years more to continue in force. I'm
der it, no dollar of emergency cur
rency has ever been issued; yet it
would be wrong to conclude that it
had been of no account. The fact is
attested by business and financial peo-
pie, that the very existence of such a
measure tended to preserve confidence
and prevent the exigency that would
demand emergency issues. Knowing it
could get these issues if it needed them,
business kept its head cool and didn't
require them. Had it known it could
not get them, it would probably have
got excited and needed them.
Thus there is good reason for the
belief that the Aldrich emergency plan,
which nobody altogether approved, and
which was highly unpopular with the
country, has served as a safety valve
and accomplished most useful service.
So it is with comprehensive scheme
of currency reform which is the more
urgently needed now that the time
limit on the Aldrich measure is soon
to expire. The scheme cannot be made
perfect at the outset; but beginning
must be accomplished some time. 1t
will be a most unfortunate affair if
the time limit on the Aldrich measure
is permitted to run out before a new
and better proposal is substituted.
The necessity for amendment or sup
plementing the Sherman act is getting
to be as generally recognized as is that
for bettering the currency system. Yet
in neither case is there general expecta-
tion that anything will be achieved.
These things reach to the intimate
concern of everybody. The whole busi-
ness situation is involved with them.
Something ought to be done, and moth
ing is likely to be done; and politics
is the explanation; politics and ig-
norance; ignorance, arising from un-
willingness of men to give necessary
study and consideration to these great
problems.
1t seems that the leaders of all
parties and factions in Congress might
well get together, no matter how in
formally, and agree to do some of the
things that the country so pressingly
needs, without regard to political ad-
vantage. The country is bigger than
any party.
1t is not long since the leaders of
the opposing parties in England, in a
time of acute crisis, got together and
agreed on procedure that was for the
interest of the country; and they lived
up to the agreement. Why is it not
possible here?
Responsible party leaders ought to
keep in mind that the country is learn
ing to expect more than political by
play. The disposition to cut loose
from all regular party affiliation testi-
fles to this much.
The reasonable probability is that
the House will talk about tariff, and
try to prevent legislation lest its issue
for Presidential year be weakened. The
Senate may be expected to devote in
tense zeal to new debate on the Lori.
mer and Stephenson corruption charges,
to the exclusion of real accomplish
ment.
If that happens,'a large number of
gentlemen who now hold seats may as
l.