The midland journal. (Rising Sun, Md.) 1885-1947, 1913-06-27
WASHINGTON LETTER.

The charges made from the bill as it
passed. the house are so numerous and in
n my instances are so niystifying that ii
will require the most careful exsmina-
lion of the items to discover what they all,
mean.
Apparently many of the rates have
been advanced and many of them have
been advanced in such manner as to
make it extremely difficult to locate ex-
actly where the advances take place.
One method adopted by the committee,
at once effective and confusing. has been
to transfer afticles from paragraphs 10
theahopse bill which made them dutiable
at IS per cent. to paragraphs Of the same
bill where they become dDtiabie at 40 or
rs per cent.
Some Democrats on the committee
were members when Sen ators Aldrich
was chairman. and they seem to have
learned some of his methods of tariff
jngglery and to have applied them in the
Of the house schedules.
~
Like most proposals Of legislation for
mulated as result Of series Of com.
promises which forced all parties at To-.
terest to yield some of their pet ideas.
the currency bill just put forth by Chair
man Carter Glass. of the House Banking
and Currency COMMITTEES. was not receiv.
ed with outbnrsts of enthusiasm.
1t isn't what the extremists Of any
banking or currency school wanted, but
for that very reason many members nd
Senators who share the Presidents an.
xiety for speedy legislation that promises
to CO rect some of the most glariug evils
and shortcomings of our present system
are inclined to think particularly well Of
the measure and regard lis chances Of
enactment better than If it were more
comprehensive aud revolutionary in its
provision.
There is no question that the President
would have the proposed revision of the
cnrrency aud banking l,ws more com
prehensive and drastic If be felt it wise to
attempt the task in presentIcircumstauces
But he was confronted 10 the matter BY
40 extremely difficult and complicated
situation In the first place, the disincli.
nation of Representatives and Senators
to undertake any sort of currency legisla-
ton in the special session was very strong.
But the President felt and feels that de-
lay in correcting some of the deficiencies
of our currency system would be danger
Gus. and hence. to get something done, he
was willing that the proposed legislation
be comparatively restricted in scope and
leave to future consi Grafton and action
phases of tue question that were likely to
lead to bitter controversy and arouse
powerful opposition in Congress and
throughout the coun ry. In the effort to
assure partial remedy without delay the
President yielded mucl and his advisers
were also compelled 10 do likewise In the
interest Of harmony aud quick action
The President has lost none of his CON
fdence that he ~ill be able 10 obtain &C.
tion. by the House at least. before The
end of the special session. and the general
feeling ii Washington 10 that he will not
be disappointed.
~.
Currency topics have been much to The
fore at Washington during the past week.
When Secretary of the Treasury McAdoo
Jared forth with statement that he
would advance $500. ooo. 900 10 emergen
cy currency to the banks if they needed
it, tongues began to wag and much COM
nient was ipdulged in Some said 1t por-
tended spell of hard times. President
Wilson, who had been consulted by Sec
rotary McAdoo about the matter. said II
was only reply 10 numerous bankers
who had written to Washington to know
what the Sectetary's policy would be in
the exercise of discretion which tn. AID
rich-Vreeland currency Law gave him.
New York I'm ,nciers are largely re.
sponsible for feeling OF ,ightness in the
market. There is some apprehension
over the old,time subject Of sufficient
money for moving the crops. hut after all
it is quite while before the West will
harvest. The anxiety is really over the
effect of the new tariff bill. This is &C
centuated by the fact tina, most mile en-
gagged in manufacturing goods affected
by tariff are now running on short time.
In many quarters there is curtailment be-
cause il is good business to wait till there
is certainty as to prices and rates. That
happens always when tariff is being re-
vised. Il would be tue in some measure
1t the tariff were TO be revised upward.