Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1897-12-09
PLENTY OF RAW MATERIAL FOR A
CURRENCY MEASURE.
HOUSE COMMITTEE AT WORK.
PROPOSED SCHEME DIVIDED UP
AMONG SUB-COMMITTEES.
Secretary Gage Invited to EmbOdy
His Views in a Bill, which He
Has Agreed 10 DO-Scster-
days Doings in House
and Senate.

tee on banking and currency, which Will
have the shaping of a considerable portion
of the financial legislation before the house'
held its first meeting this morning ana out
lined its general plan Of action. In view
of Secretary Cages Recommendation Oh a
comprehensive revision of currency ana
banking affairs, resolution was adopted
inviting the secretary to embody his views
in a bill The committee was informed that
the secretary was now ut work on a meas
ure, and that il would be available Tor the
committee in about a week.
Mr.. Hill. Of Connecticut. then preclpitat-
ed sharp debate by moving that the
committee act at once by reporting TO the
house a bill embodying three of the fnan-
ciaI features which had the presidents ap-
prevail These were embodied in Dill mere
tofore offered by Mr.. Brosius. of Pennsyl-
varia, and Mr.. Hill proposed that the first
three sections be placed before the house
Immediately. The three sections provided:
Bank circulation up to the par value OF
bondS deposited; reduction of the tax on
circulation to one-fourth of per cent; the
establishment of small banks in rural
communities. Mr.. Hill said the committee
would do well not to go through the tedious
processes of considering and dividing on
these three propositions. which appeared
to meet with general acceptance and had
received executive approval.
Mr.. johnson, of Indiana, earnestly op-
posed such hasty action. He said there
siiouiu NC .l''ie ~ ....t.s;o, 80 a.,
INNS ,ne n,,;a. prao,nItata ,ct,on
~ - .,,h;a,t ,,o,,ld ba s,id
n.,a,s,,, ,,,.;,ai,a q befora tho bouse and
-
'' Shos. ,p,,,,.- ,rnornced ,our suh-
committees and assigned to each a number
Of the banking and currency bills already
hn.i M
I'M sS,.n w -. .,, -
onr1,ni.te. @ ~ I h.nins charee of the hills miro
So'"''.'ee 0'i' -. es ~, -. ~ 80 m, -
ouoeu ~ o Is, H,.n.
Sornni.'eI WIN nav s..a .,.,Hs,a =. .no
oiii. WHICH nAS a.''ae.Su Sv.'.uei ~ aD.o
.ehtioh IN pahh,hs s,rce - paoposes ="
~ uouu.e .ne Nv ..s. Snse aai,' SA D ,sa,,
ess'eih " .ie "noie eoui,, y auui.e q so'-
erhineh1 suaranlee iof an notes rs. issueu ,,. Wy
banks and imposing small tax on bank
notes as a safety fund. The bill of Mr.. Hill
also goes before this committee. Mr.. lIill
-, p - -, ,,.,,os -, -. q. ~, oon
says ne mas endeavored TO draw II on con-
servative lines. meeting the financial Ills
which most need REFORM. without going to
S,-N.-..,S.ie a.. ~ -
crease OF DANG circuiatioh 10 'he par 'aiue
OF bonds deposited; reduces the taxation on
circulation to one-fourth of 1 per cent;
,ro,,,des for the estabI,sbmant or sma1i
aurs ,n r,,r,, -U .on,,n,n;.,ss and doas a,, snan
banks IN rural communities. ana ooes away
with the restrictions on the free issue and
withdrawal of national bank notes. Except
I'm the last particuIar. the author of the
,,u fo, a.. H. q, a., IT,: LEI, Io.,s-.
Dill Ieeis that ne Is In line with PRESIDENT
Mckiniey's recent currency recommenda-
tions. This subcommittee will also deal
with the bills of REPRESENTATIVE Cox. the
r.nL,r,- Da,,,o,-a+ nv, .h,> co,,,,,,,tao rho
Fenhihs Denocra1 on the committee. Inc
main one Is generally known as the Car
Isle bill,' which was originally urged by
John G. Carlisle when he was secretary OF