Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-12-28
Character Of the Proposed Monetary
Commission Bill.
SPECIFIC TERMS ARE WITHHELD
Will Extend National and Private
Banking Facilities.
CONSIDERATION EXPECTED

When Congress reassembfes the banking
and currer.y committee of the House will
wait a reasonable length of time for the
currency bill which has been prepared by
the monetary commission appointed at the
Indianapolis convention of business men.
1t is proposed to give the bill consideration
If it comes in time. AS all readers Of The
Star know, the commission has been in
session in this city during the fall months,
and recently completed its report upon
bill.
The terms of the bill are being withheld
from the public for the present, but enough
is known to derive an idea of the general
character of the proposed financial meas
ure. In general way it can be stated that
the bill will embody the financial recon-
mendations of the President, some of Sec
retary Cages, and in addition. will carry
provisions for extending national and pri-
vate banking facilities, so as to make easier
borrowing and lending money in times
of need and panic.
In connection with the general subject
of the finances, it is the belief in congress
sional circles that there is no clash of opn-
ion between Secretary Gage and the Presi-
dent upon the maintenance of the gold
standard. They are together on that sub
Ject. and the point where they part COM
pany is upon the advSablity of proceeding
to more radical steps in the direction of the
extension of a policy of currency restric-
ton. 1t is said the President is willing to
stand upon the present policy of the re-
publican party, ds declared in the conven-
ton, but hesitateS to follow some of his
more radical advisers until the people have
been educated to the point of being in har-
mony. and thorough understanding with
such extension.
The banking and currency committee of
the House will not attempt, at this session
OF Congress. to take up for consideration
Dill carrying out the ideas of the Secretary
or the Treasury in regard to the bonded
debt and to funding the public debt The
&C mmlrtee will act upon three bills pro-
V'd1nS respectively for the establishment of
rational banks in small cities, the exten-
sion of circulation OF national banks and
the reduction of the tax upon them.
In conversation with a Star reporter some
days ago, Chairman Dingley of the ways
and means committee said he thought two
OF these bills might pass the Senate. He
entertained doubt whether the third
measure mentioned above would be able to
get through the Senate, although the three
bills would probably pass the House.
In that talk with a Star reporter Mr..
Dingley said the only financial bill which
could come before the ways and means
committee would be plan for funding the
public debt. He had grave doubts of the
PROBABILITY of the committee reporting such
measure. as it would be useless, In view
of the feeling in the Senate. He said that
while 1t was true the government could
save S12,OOO,0OO year in interest charges
by funding the debt by the issuance of low
rate gold bonds. there were people in Con-
gress who would prefer paying the So, ,OOO,-
600 to seeing the word gold Incorporated
in the bonds.