Daily new dominion. [volume] (Morgantown, W. Va.) 1897-1906, 1897-12-15
CAGES FINANCIAL PLANS.
He win Appear Tomorrow With One
General Bill.

WASHINGTON, Dec. 15.-Secretary
Gage will appear before the house COM
mittee on banking and currency to-
morrow and submit to them in the
form of general bill his recommends
tions recently made to congress.
The determination of Secretary Gage
to appear and submit one general finan-
cial bill instead of number of separate
bills, brought out many expressions of
satisfaction. 1t had the effect of clear.
ing up situation which was becoming
strained. and gave promise of an early
report to congress on financial bills.
The understanding was reached on a
result of visit to the capitol u the So
hcitor of the treasury, Mr.. Connell,
representing Mr.. Gage. He talked
with a number of the other Republican
leaders and, it is understood, was adj
vised by Mr.. Dingley and others that it
would be desirable to embrace financial
subjects in one general bill. Later, the
solicitor met Chairman Walker and
other members of the committee on
banking and currency and general
conference was held as to what should
be done.
1t was made known that Mr.. Gage
preferred to let the subject go over
until after the holiday recess. The
committee urged, however, that it de-
sired to take the Gage bill and also that
submitted by the monetary conference
under consideration during the holt
days in order to be in position to re-
port progress when the house recon-
vened after the recess. 1t was decided,
therefore, that Mr.. Gage should sub.
NIT 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 the secretary would cover all his
proposals in one general bill, instead of
cutting the subject up.
This arrangement gave general salts
faction and having accomplished 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 question. 1t
was decided that the first thing to be
done was to report bill embodying the
three features recommended by the
president, viz: A reduction of the tax
on circulation to one-half of | 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 opportunity OF acting on them
at once without waiting for the report
on the Gage bill. For these reasons the
full committee will be asked to report
on the presidents plan at once. The
draft of bill has been prepared by Mr..
Brosius Pa and this was given to the
solicitor of the treasury, who is to re-
turn it 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
holidays. and as result of the bitter
feeling created, members of the bank
ing and currency committee say there
is no further doubt that action will be
reported to the house soon after the
holidays.