Baxter Springs news. [volume] (Baxter Springs, Kan.) 1882-1919, 1897-11-20
CAGE PLAN FAVORED
Monetary Commission Favors the
Financial Ideas Of the Secretary.
AGAINST GOVERNMENT BANKING.
The Work OF the Commission IL Not on
clai, but Congressmen WIN 10 Sup
piled with Copies Of Their
Conclusions.

cess of several days the monetary COM
mission resumed its sessions here last
night, with all the members present
except two. Mr.. Stuyvesant Fish,
who has been prevented by other en-
gagements from attending the sessions
of the commission heretofore, sat with
the body. Most OF the time was occu-
pied with q general review Of the
work already accomplished, for the
purpose of acquainting Mr.. Fish with
what had been done. The prclim-
mary reports Of the principal COM
mittees have been considered fully
by the whole body, and general idea
obtained thereby Of the individual
views of all the members. The future
work OF the commission will be devoted
mainly to discussion Of the reports
and measures to be submitted for the
consideration of congress. II Is not
probable that any reports will be ready
when congress convenes early In De-
cember, but II is hoped before the end
of the month some preliminary sug-
gestions, ut least, will be ready for
submission, to be followed later by
more general and elaborate reports.
The commissioners will not prepare q
bill for the reform OF the currency sys.
TEN, but confine themselves to an ex-
preston OF opinion and the adoption
of certain general propositions. While
they have not yet reached final con.
clusion, it is probable that they will
follow the lines suggested by Secretary
Gage and recommend that the govern
ment go out of the banking business,
withdraw all circulating notes and au'
thorize the banks to issue currency up
to the par OF their deposits to secure
the same.
When the commission met each men,
Der had his own views and plans, many
of which conHicted with those Of his
colleagues, but they have hammered
at each other off and ON until they
have reached harmonious conclusion
upon the principal points with which
they are dealing. They have also re.
ceived advice and suggestion from
bankers and financiers throughout the
country. including several complete
plans for new currency system. Al
though none Of these plans has been
adopted in full, they contained many
important ideas and have had an in
fluence in modifying the opinions OF
the commissioners. 1t Is proposed to
publish them in report which will
be submitted to q mass convention
some time during the winter.
There seems to be misrepresentation
concerning the powers and functions
OF the commission. 1t Is not an official
body, SO to speak. II was not ap-
pointed by the president nor the secre.
tary Of the treasury and has no official
relation to congress. The l2 gentle
men who have been attempting to
solve the currency problem were
selected for the duty by convention
of business meu held ut Indianapolis
last fall, and will make their report,
not to congress, but to a similar con-
vention to be held some time during
the winter.
1t is not intended to send the report
to congress officially, although every
member OF the house will be supplied
with copy. The members Of the COM
mission do not expect their ideas to be
Immediately adopted by congress.
They are not sanguine of securing any
legislation during the approaching
session, because of the peculiar COM
plexion OF the senate and the fact that
the rules of that body make II almost
impossible to secure action Of any kind
II minority resists. They do, how
ever, regard their work as important
from an educational standpoint, in the
cultivation OF q public opinion that
sooner or later will influence congress
TO amend the currency laws in the line
of their recommendations. These gen.
tlemen are Of the opinion also that
the next house Of representatives will
be elected on the currency issue, and
that there will be new alignment Of
the parties at the polls. Their findings
and reports will be in the nature of n
platform which they believe will be
adopted by the commercial and hnan-
cial interests OF the country.