The deadlock between the Conference Committees of the United States Senate and the House over the question of a Philippine currency, and which was at last broken by the two Committees who, finding they could not arrive at any compromise, finally decided to eliminate the money standard provision altogether from the Bill has, of course, drawn forth much comment from the Philippine papers. The Manila " Times" says:—* That action settling the present unsatisfactory and deplorable conditions will be taken during this Congress seems altogether unlikely it may be, however, that the desperate straits to which we have been reduced will coerce the two Houses into compromise and some kind of an agreement. If we are afforded no relief the commercial prospects of these islands will receive a most severe set-back. The currency of a country stands in most vital relation to all its business and industry, as has been amply demonstrated by the demoralising conditions existing here since the collapse of the two to one ratio, and when it receives a shock the whole economic body feels it. A continuance in the hopeless muddle in which we are now plunged, with no immediate prospect of extrication, cannot be regarded with equanimity. We are inclined to believe that even free silver might be more acceptable. We should then at least know the worst. Ax the prospect stands now, we suffer all the irritating and depressing elects resultant on hope deferred, with the prospect of another long period of suspense and dissatisfaction. Meanwhile we lie at the mercy of Congress. The American Chamber of Commerqo has already voiced our wishes, but apparently without success. We have been treated as castaways and our desires and recommendations ignored. Whether or not any further action on our part would bring about any result is more than doubtful. The lines have already been drawn—and drawn tightly,—and our fate is apparently to be decided by national political and financial considerations. Of late, in home exchanges, the general sentiment, as expressed editorially, has declared for a gold standard for these islands; but it is not ikely that such agitation will affect the policy adopted by the moneyed interests in the Senate. We seem to be condemned to stagger along under the present: cross, with the promised relief denied us. While it may be a forlorn hope, yet we believe that even yet some local action might be taken and our voice heard. It would at least give evidence that we feel keenly and view with most grave apprehension the present outlook, and might possibly tend to bring about some action, which, even at the worst—free silver—might be better than none."
The "Glorious Fourth."
Our American cousins in Manila celebrated Independence Day by holding the greatest parade ever witnessed in that city. One of our Manila exchanges describes the occasion in the following enthusiastic terms:—"The mammoth parade of Friday was certainly the Greatest ever witnessed in Manila. Fifteen thousand people kept step to the inspiring music of more than a dozen bands. "One hundred thousand people stood in line for more than an hour to greet and cheer the mighty column. The smiles and good cheer from the throng that lined the kerb-stones, was reflected back from the beflagged marchers. Manila's fair ladies peeped from gorgeously bedecked carriages, that wended along join the mighty host on the Luneta. No vexatious problems were taxing the brains of Friday's throng. The day was one of good feeling and a mile-stone on the way to that surer and better understanding of the people, who have by birth or adoption made this little milky way of the star-spangled banner their home. The wonderful transformation since the same day of last year is apparent to everyone who was in the islands at that time. "The mutterings of discontent were still rife. Since that day Old Glory has waved over many fieldy that have added new heroes to the scroll of fame, and through this crucible and the enlightenment that must ever accompany our country's flag, a new sentiment is crystallizing. It was in evidence Friday as never before in these islands. It has come to stay, and those who would attempt to thwart it must be relegated to the ranks of the pessimist. They heard the death-knell of their theories in the music of Independence Day, and in the tramp, tramp of the gigantic parade."
Text read from the printed page and cleaned; old type leaves the occasional error.