Rensselaer Semi-Weekly Republican, Volume 40, Number 30, Rensselaer, Jasper County, 20 December 1907 — Political Comment. [ARTICLE]

Political Comment.

Conrreso and the Currency. It is now certain that .Congress will make no attempt at “rushing”"currency legislaion. The respective committees of the two houses will take time to consider the various pending proposals and evolve a treasure that, it is to be hoped, will-'merit general approval. The -correspondents have sufficiently sounded congressional sentiment to feel safe in predicting that nothing “radi,cal’’ will be done. What is important, however, is that the thing that is finally done shall embody' the lessons of the recent crisis ’and be sufficient to prevent similar disastrous experiences in the future. L ’

Neither the President nor Secretary Cortelyou has submitted a specific scheme to Congress. Both deemed it more important to state the problem correctly, to emphasize the defect' in our currency system that can no longer be tolerated or ignored, than to advocate a concrete’remedyThe President recommended provision for an “emergency cuqyncy” based on securities and subject jjm a tax heavy enough to insure its retirement u poll the ref ur n OT Tai fly normal business and fitfancial conditions. What the tax should be to prevent inflation, and what classes of securities other thfin government bond would be safe and proper as a basis for the emergency issues, the President leaves to Congress to determine. Secretary Cortelyou, deeming' it probable that Congress will not at once overhaul and modernize the entire currency system in acordance with the advocates of either the regular asset currency plan or the central -bank scheme, suggests, as an alternative, some measure that would impart “a greater elasticity to the currency” under government guaranty—“something which should be automatic in its operation.” Mr. Cortelyou intimates, however, that the desire to avoid radicalism and complexity will not excuse needless delay. Promptness of action, lie well says, is as desirable as simplicity of plan. The people expect imriiediate and earnest consideration of the currency problem and some provision for certain, definite relief under safeguards of law. —Chicago Record-Herald,

Common Enemies. This country would soon have to shut down its great industrial plants and let its meghanics and workingmen be. if the tariff on many oi the Simplest articles of home consumption were lowered or removed. We cannot compete with the cheap jttbor and cheap money of- foreign hinds' in industrial' enterprises; A tariff high enough to keep foreign products out of competition with the products of our own industries is absolutely necessary, and the greatest possible boon to American labor and capital. An' industrial paralysis would follmV any change in the present protective policy of* our government. Hence it would be industrial and commercial suicide to intrust the government to the hands of the free traders who are preaching their theories to the people under the cloak of Democracy. They are enemies of labor, enemies of capital and promoters of panics and hard times.' —Booneville (Mo.) Republican.

A Pretty Good System. > Dot's any sensible person believe that had the Democracy been in control of the White House, with the acepmpany--lag business - depression iiidustrial~paralysis. it would have been possible within two or-three days to have stayed what threatened to become a financial panic? The talk that the surplus in the treasury. which was so handy a few days ago, had been “drained from the people by a false financial* system,” is all bosh. A system that gives the American workingman the highest wages of any ■lass of laborers on earth, and at the same time accumulates a surplus good for any emergency, may not be admired by the speculator who deals in Euro- ; can novelties, but it is a pretty good ,hing for the people of the United States.—Scranton Tribune.