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Show ( Au Kxira Session ot Congress I'roposcil. Washington, 20, An evening pa- per says: The authorities have from the first manifested a deplorable incapacity in-capacity to comprehend the situation. A comparatively insignificant pressure on the money market has been developed de-veloped into a panic, with ruin and j bankruptcy to the entire country. In ! reference to tho bond purchase, al-j al-j ready efiected, government really I stands in the position of making a profit by the panic. It could have ; sold the bonds for less than their actual ac-tual value, but such was the pressure ; for money that holders were compel-i compel-i led to make a sacrifice. The govern-; govern-; ment ought not to inflate the currency j either by an extra issue of greenbacks or the continued purchase of bonds. The inflation could be . averted by exchanging bonds for i currency at prices below the , rate with the firivilcge of holders ob-I ob-I taming back their bonds a few weeks : hence, when the panic is over, at the price paid for them. The other evening papers, in reviewing re-viewing the present monetary situa-; situa-; tion, recommend an extra session of i Congress us the only means of re- ! lief. |