Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1897-12-17
CURRENCY MEASURE
Secretary Gage to Embody His
Views in One Bill.
COMMITTEE TO REPORT A MEASURE.

Will embrace Features ReCOmmend.
ed by the President In HIS Mes
nage - Senate and House
Hold short Sessions.
Washington, Dec. 10. Secretary
Gage will appear before the house COM
mittee on bunking and currency on
Thursday and submit TO them in the
form of u general bill his recommends
ttions recently made to congress.
The Determination OF Secretary Gage
to appear on Thursday and to submit
one general financial bill instead OF u
number of separate bills, brought out
many expressions of satisfaction. 1t
had the effect of clearing up a situation
which was becoming strained, and gave
promise of an early report to congress
on financial bills. The understanding
was reached as result of a visit to the
capitol of the solicitor of the treasury,
Mr.. Connell, representing Secretary
Gage. He talked with number of the
republican leaders and, it is understood,
was advised by Mr.. Dingley and
others that it would be desirable to en-
brace financial subjects in one general
bill. Later the solicitor met Chairman
Walker and other members of the COM
mittee on banking and currency, and
q general conference was held as to
what should be done. 1t was made
known that Secretary Gage preferred
to let the subject go over until after
the holiday recess. The committee
urged, however, that it desired to take
the Gage bill and also that submitted
by the monetary conference under con-
sideration during the holidays, in order
to be in position to report progress
when the house reccnvened after the re-
cess.
It was decided, therefore, that Sec
rotary Gage should submit his meas
ure on Thursday and appear in person
to explain and argue its merits and an
swer questions from the committee. 1t
was also made clear that the secretary
would cover all his proposals in one
general bill, instead of cutting the sub
ject up. This arrangement gave gen.
eral satisfaction, and having accom-
plished this much, the members of the
committee canvassed the course they
would take as to making an immediate
report to the house on the currency
questions.
The Committees Plan.
It was decided that the first thing
to be done was to report bill embody-
ing the three features recommended by
the president, viz: A reduction of the
tax on circulation to one-half of one
per cent; the issuance of circulation
up to the par value of bonds deposited,
and the establishment of small banks
in rural communities. While these will
be embodied in the Gage plan, yet as
they were specially advised in the
presidents message it was felt to be
advisable to give. the house the oppor-
tunity Of acting on them at once, with
out waiting for the report on the Gage
bill. For these reasons the full COM
mittee will be asked to report on the
presidents plan at once. The draft of
2 bill has been prepared by Mr.. Brosius,
OF Pennsylvania, and this was given to
the solicitor of the treasury, who is to
return 1t in time for action by the COM
mittee, with such suggestions as the
treasury authorities may wish to make.
AS to the comprehensive Gage bill, this
and the monetary conference bill will
be gone over with care during the holt
days, and as result of the better feel
Ding created members of the banking
and currency committee say there is
no further doubt that action will be re-
ported to the house soon after the holi-
days.
A Bankruptcy Bill.
Washington, Dec. ia national
bankruptcy bill similar in it's sub
stantial features to the Henderson
Culbertson bill passed by the house
last session, will be reported to the
house this week by the judiciary COM
mittee. The bill provides for both vol
untary bankruptcy and involuntary
Bankruptcy. By its provisions any
one may file petition and go into vol
Inntary bankruptcy, except q corpora
ton. The latter may be forced into it,
but not otherwise. Wage earners, la
borers and farmers cannot be forced
Into 1t. All others are subject to in
voluntary bankruptcy for certain
designated causes. In general these in
voluntary causes relate to fraudulent
conduct on the part of the bankrupt.
The clause in past measures providing
that man who permits his commercial
paper to go unpaid for 30 days shall be
an involuntary bankrupt is eliminated.
The general effect of the bill is to dis
charge the bankrupt of all debts after
the estate has been administered and it
bias been found that there has been no
fraudulent conduct.
The bankrupt measure is so framed
as to make its administration simple
and inexpensive. 1t involves only two
officers, referee and trustee.
Senate.
Washington, Dec. 15.-The senate
was In session just IS minutes Tuesday,
adjournment being taken until to-day
out OF respect to President Mckinley,
who was in attendanceupo the funeral
Of his mother. No business beyond
the introduction of bills and resolu-
Mons was transacted.
Washington, Dec. 15.-The house,
after session Of about two hours, ad-
journed out of sympathy for the presi.
dent, whose mother was buried at Cam
ton Tuesday afternoon. The time OF
the session was devoted to the consid-
Grafton OF the legislative, executive and
judicial appropriation bill. 1t was de-
cided to postpone the consideration of