New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-12-15
MR. GAGE TO SUBMIT A BILL.
THE sECRETARYs CURRENCY PLANS
EMBODIED IN ONE MEASURE

s.rrsFAC-TION CAUSED BY THE DECISION MI
To s,,Rn1r A NUMBER OF SEPARATE MEAS
,,prs-T..r SECRETARY TO APPEAR Be
FORE THE BANKING AND CUR
REYcY COMMITTEE TOMORROW.
vosb,neton. Dec 14.-Secretary Gage VIII APP
near before the House Committee on Banking
and Currency on Thursday and submit IN the
form Of a general bill his recommendations re-
Gently made 70 Congress
The determination Of the Secretary TO SUBMIT
one general financial bill, instead OF NUMBER VI
separate bills brought out many expressions u
satisfaction. 1t had the effect or clearihs up
situation which was becoming strained. ana
gave promise OF an early report 10 Cohsie'' "a
financial bills The understanding was reacieu
oe result of q visit TO the Capitol by the sohci-
tor of the Treasury. Mr.. Cornell. representing
Mr. Gage He talked with a number OF the he
nuhlican LEADERS, and It is understood, was au-
vis4d nv Mr. Dingley and others that IL would
he Desirable 10 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 II was made known that Mr. Gage pro-
ferred to let the subject go over until AFTER the
holiday recess The committee urged. however
that IL desired to take Mr.. Cages OIL. ana aso
that submitted by the Monetary Conference. un-
der consideration during the holidays. In order
70 be in a position to report progress when the
House reconvened after the recess. 1t was de-
cded therefore, that Mr.. Gage should submit
his measure on Thursday and appear IN person
10 explain and argue It's merits and answer Ques-
tcns from the committee.
II was also made clear that the secretary
would cover all his proposals IN one general BILL
instead Of dividing the subject This arrange
mont gave general satisfaction. and. having ac-
complished this, the members OF the coHliilII'ee
discussed the course they would take as TO max
ing an immediate report TO the House on cur
rency questions. 1t was decided that the frst
thing 10 be done was to report Dill employing
the three features recommended by the Presl-
dent-a reduction Of the tax on circulation TO
ope-half of l per cent, the issue OF circulation
I'D to the par value Of bonds deposited, and the
establishment of small banks in rural commu-
mites. .
While these features will be embodied in Mr..
Cages plan, yet, as they were specially ADVISED
In the Presidents Message. II was felt to be ad-
visable TO give the House the opportunity OF
acting on them once without waiting for the
report on Mr.. Cages bill For these reasons the
full committee will be asked TO report on the
Presidents plans at once. The draft Of d bill
has been prepared by Mr.. BrOsius, OF Pennsyl-
vania and this given to the Solicitor or the
Treasury. who is TO return II In time FOR acton
by the committee with such suggestions as the
Treasury authorities may wish TO make.
Mr.. Cages bill and the Monetary Conference
bill will be gone over with care during the non
days. and as a result Of the better feeling
created to-day. members OF the Banking ana
Currency Committee say there is further
doubt that bill will be reported TO the House
soon after the holidays