Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-12-15
SECRETARY CAGES PLAN
He Will Submit His Financial Bill To-
morrow.
Result of Solicitor O'ConneIrs Visit
to the CapftOl-Views of Bankfux
and Currency Committee,

Secretary Gage will not submit his finan.
clal bill to Congress until tomorrow 1t
was his intention to do this today and to
appear personally to present the merits Of
the measure.
The bill to be submitted is already pre
pared, but Secretary Gage is going over it
carefully today He will be prepared to-
morrow to fully present the advisability Of
its passage
Secretary Gage talked today with a mum.
ber of congressman on the subject of the
bill His determination to appear and to
submit one general financial bill instead of
number of separate bills brought out
many expressions of satisfaction
1t had the effect of clearing up a situa-
tion which was becoming strained and
gave promise of an early report to Con-
gress en- financial bills. The understanding
was reached as q result of visit to the
Capitol OF the solicitor of the treasury, Mr.
OConnell, representing Mr. Gage. He
talked with number of the republican
leaders, and it is understood was advised
by Mr.. Dingley and others that it would
De desirable to embrace currency subjects
IN one general bill. Later the solicitor met
chairman Walker and other members of
the committee on banking and currency
ana a general conference was held as to
What should be done. 1t was well known
that Mr.. 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 submit
tea py the monetary conference under con-
slderatlon during the holidays in order to
De In a position to report progress when
the House reconvened after the recess 1t
was decided, therefore, that Mr. Gage
should submit his measure tomorrow and
appear in person to explain and argue its
merits. and answer questions from the
committee. 1t was also made clear that
tne secretary would cover all his proposals
III one general Dill instead of cutting the
subject up.
lhls arrangement gave general satisfac-
tlon, and having accomplished this much
tne members of the committee canvassed
the course they would take as to making
an immediate report to the House on cur
rency questions.
1t was decided that the first thing to be
dcne was to report bill embodying the
tnfee features recommended by the Presi-
dent, viz, reduction of the tax on cir
culation to one-half Of one per cent: The
issuance of circulation up to the par value
Oh bonds deposited, and the establishment
OF small banks in rural communities
While these will be embodied I'm the
Gage plan, yet. as they were specially ad-
vised in the Presidents message, it was
felt to be advisable to give the House the
without waiting for the report on the
Gage bill. For these reasons the full COM
mittee will be asked to report on the Pres
idents plans at once
The draft of q bill has been prepared by
Mr.. Brosius of Pennsylvania and this was
given to the solicitor of the treasury, who
Is to return it in time for action by the
committee, 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
considered with care during the holidays,
and as a result of the better feeling Great
ed members of the banking and currency
committee say there is no further doubt
that action will be reported to the House
soon after the holidays.