| Show I I CURRENCY A REFORM fORM fORMIS IS NOW ASSURED On Highest Authority it is Stat Stated d Congress Will Take up The Question SYSTEM IS NOW OUT OF DATE Of the Nation I Is Uy 11 tO hI Ue Creditor P D C Nor o un no unqualified qualified cnn can be made mado that currency reform by Congress this win winter winter ter Is now certain The statement comes front the highest authorIty in III po financial circles The Tho vital question ot of providing on an emetic currencY Wilt will be one of oC the Important measures acted upon lit alt the coming session ot of the house of representative Agitation of the potential kind has 1 a effect on political litter ainI lire are weekly being hold held between prominent New e York polIticians ot of national Their deliberations tore fore the ot of flu adequate currency system for tor the present Ires en obsolete In laws WI whIch tn In Intended tended to 10 meet requirements ot of the country hiatt a century ago when hen It wn vai so o to speak In III comparative In Infancy fancy 4 It Is that tha t the progress ot or ortho tho entIre nation it 18 1 b by bythe the existing monetary rules rite fhe re arbitrary nd advance In the discount late or Of the Dank ot of England thorough thoroughly ly h demonstrated hots hol completely at the mercy ot of International finance bunco Is III the States under the Present circum This realization has hils resulted In IL a by both political atIl Interests to lo take dye action along the lines Indicated It means that the United d Ihl soon BOon entirety entirely liquidate its hooting debt to I and become the creditor or of orth th the world of whIch we have hae been the laughing stock because e we unnecessarIly 11 Ily submitted to extortion at IVO ver cent money during urgent demands and to an ume 1 per Der cent rate when the agricultural requirements had hael been Oil on account of a theory that because the rates were ro ported from Wall Vahl t It was Wall Wait street speculation that wall ya responsible and should surfer Whereas the entire commercial organizatIOn ot of the coun countr country tr try has hns time ln and 1 time again felt the tho pInch without comprehending the fun tun cause hut But most important of all the Is the tact fact that our inadequate cur currency rene rency has checked industrial Had hod It not been for Cor a M O per cent Increase in III the money stock ot of the Unit ell Ci during the last 10 years rear by now flow gold Rold our present un tin ProsperitY never neve hove been Even now many lie new and nud promisIng enterprises Involving further expansIon hare Icon po postponed or abandoned he be cause ot of thu tho lack ot of funds for tor fInancIng vast Improvement schemes ot of railroad and Industrial corporations contemplated and In have been hampered on this account ot of the proposed nI new law have not been completed but the elementary feature ot of automatic elasticity cur lur rounded by every possible Is IsI the nucleus ot of the tho proposition |
