The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1913-06-24
THE CURRENCY QUESTION.

The currency reform proposal that
is about to be brOugt before congress
will make a test of the cohesion and
effective working force Of the Demo
craft administration worthy OF its
quality. The tariff question has been
admirably disposed OF, in the face
Of what, for a time, looked like
very difficult situation. The rec1lci-
tfant elements OF the party were
brought into fine harmony upon the
main questions, and everybody
has accepted the business in excel
lent spirit and proceeded TO do a
duty that was made as clear as
problem in Euclid under the capable
exposition of schoolmaster. The
currency issue is little more keen,
and 1t comes on top of the other
situation. The president is going
about its handling with great sauvity,
but with a complete and unbending
determination to accomplish con
ceiYed result that appears utterly be-
yond resistance and will probably
prove so. To bring a faded congress
to enact second great measure at
an extraordinary session which was
called for one purpose and has
achieved that is no mean undertake
ing. But If anyone can accomplish
1t Mr.. Wilson Is the individual. At
any rate he does not hesitate nor
fear 10 try IL, and he is going about
the task in a rarely engaging man
ner. lie is not lashing and goading,
he Is neither exhorting nor denounc-
ing. He is merely constructing and
demonstrating. The bin has been
prepared by the properly constituted
committees of the senate and the
house. in consultation and agreement
with the secretary of the treasury
and under the approval OF the presi
dent aud 1t has been exposed 10 the
view OF the country and was recon-
mended in person by the executive
yeterday. There is opposition to the
undertaking to pass any measure at
the present session. and there is OPP
position 10 the form of bill offered
Ii Is held by some that the bill Is
presented IN the interest Of the mon
ey powers and by others that it Is
prepared without reference to those
who should have had chance to
consider and help construct ii. And
others find ii In conflict with their
preconceptions of what currency
law should be. Through these obsta-
cles the bill must be guided.
The currency question is difficult
enough TO understand, and il is only
within the past few years that any
scientific study has been directed to
1t in this country. They have done
better with their financial affairs in
Europe. chiefly because they have
not been under the shadow of leg
ends and the prejudices of old politi-
cal conflicts. We have with us al.
ways the ghost of Andrew jackson
and the bank and IL has been i'm
possible for hundred years, to cen
tel serious attention In this country
upon any proposal involving the idea
of a central bank to control the mon
etary system of the country. Yet, !
the idea OF central bank cannot
well be eliminated from considera-
ton in any scientific system of mon
etary control. The germ of such an
Idea seems to be in the administra-
ton measure that is TO be offered in
reformation OF the currency situa.
Ion. II is well distributed and adj
mirably disposed, in in the idea of
regional reserve banks" and 1t
should be left under that guise for
fair consideration of its merits With
out any attempt to bring II back to
the old form and shape. 1t is time
We looked at things in this regard as
they are. and not ii the light of an
ancient dictum.