The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1895-01-03
WASHINGTON NEWS.
Question Whether a Democratic Cau-
Gus Will Be Held.
PRESIDENT NON.COMMITTAL RE
GARDING THE CURRENCY BILL.

Mr.. Springer Says He VIII Cali Caucus in
Case a Majority Of the Democratic
Members Favor It-Ex-senator Farwell
Furnishes Plan to Settle the Financial
Muddle.
Washington, January 2.-While it Is yet
impossible to say owing to the absence OF
so many Representatives from the city
whether the caucus of the House Demo-
Gratis will be held to consider what action
shall be taken on the pending currency
bill appearances ::::indicate one will be
called to meet during the present week.
Mr.. Springer Of Illinois. who is in charge
of the banking bill said this afternoon he
could not say what decision the party
leaders will reach. Personally. he favors
caucus, believing at such meeting a gen.
eral exc hange of opinion could be had re-
garding the bill and the necessity for its
passage from party standpoint could be
strongly emphasized. Many members are
not fully satisfied with the measure and
might thus have an excuse for supporting
1t. Nothing definite had been done look
ing to the calling of caucus. 1t is his in
tention tomorrow to canvass tine situation
thoroughly with his Democratic associates
probable, the majority of the Democrats
favor considering the bill in caucus he
will write call himself and circulate it.
Several Democratic congressman who
saw the President today endeavored to se-
cure from him some expressions of opinion
regarding an extra session in event Con-
gress fails to pass banking bill. 1t was
represented to him by one gentleman that
cit iG nd If Ia n Mt
unlikely the treasury may be drained of
every dollar of gold eserve If Congress ad-
journs without afford1ng some financial re-
lief. The President is reported as saying
he appreciates the situation and earnestly
hopes favorable action may yet be taken
on the Carlisle bill before the fourth of
March. Another gentleman who saw the
President says the latter does not regard
the Carlisle bill as perfection by any means,
but it is great improvement over the pre-
sent law.
The
PRINCIPAL TOPIC
of conversation during the past week about
the capitol and hotels has been as to the
probability of an extra session. Well in
formed Democrats believe one is vitality
necessary should there be no banking bill
pass before the adjournment.
The President it is said does not look with
favor upon an extra session. Those who
reflect his views say he will be governed by
conditions existing March. Such OF
the Democratic leaders rs are In the city
express belief that the Republican House
would pass banking bill of what charac-
ter they do not pretend to predict. In this
connection letter received today by Mr..
Springer from ex-senator Charles B. Far
we'll of Chicago. is of interest. Mr.. Farwell
writes: ''There is just ono thing to do to
settle this whole financial muddle which
we seem to be in, and this is embodied in
the three following propositions: First,
let the government fund it's floating debt
and refund its bonded debt in two per cent
fifty year bonds and retire from the curren-
cy business altogether. Second, allow ma
tional banks to use these bonds at par as
a basis for circulation. exempting them
from all federal taxation except just enough
to pay for printing their notes. Third,
repeal the sub-treasury act and.let the rev.
enues of the nation be deposited in nation
al banks where collected
Mr. Farwells letter closes: Congress
may discuss this question for the next sixty
years and will finally adopt the above prop
ositions because they are the only ones
which will accomplish the desired end"