The record-union., 1898-01-21
Hearings Before the House Com
mittee Brought to a Close.
VIII Decide on Wednesday Which Of the
-Four Bills to Report.
Secretary Gage Turns QuestiOner,
and Puts Chairman Walker
Through a Long Series of In
terrogatories as to the Aims Of
the Latter's Currency Bill.

WASHINGTON, Jan. 2o-The cur
rency hearing before the Committee on
Banking and Currency continued to-
day, ex-Secretary Fairchild being heard
through the morning, with the under
standing that Secretary Gage would
resume at O'Clock. The inquiries OF
Fairchild We're along the line of devel-
oping the degree of success with which
the Monetary Commission bill could be-
put into practical operation.
Considerable feeling has been
aroused by the determination of the
committee, on party vote, not to hear
President Warner of the Bimetallic
Union and Chairman Towne of tha Sill
yer Republican National Committee,
unless these gentlemen prepared q bilh
and assumed responsibility for it.
Cox, the senior member of the minor
ity, says this action is equivalent 20
declining to hear the silver representa-
tives under any circumstances, as they
do not wish TO appear as advocates OF
any currency or banking bill, but to-
resist such measure if on gold lines.
Cox takes the view that it is as int
portant to present the opposition to
the pending measures as it is to hear
the points in their favor. He expresses
confidence that the majority of the
committee viii reconsider its action,
and give hearing to Messrs. Warner
and Towne without conditions.
The committee devoted the afternoon
to discussion in detail of the pro-
visions of the Walker bill Secretary
Gage appeared again for examina-
tion, but. instead, turned questioner,
and put Chairman Walker through a
long series of interrogatories. He
asked if Walker did not aim in his
bill to substantially relieve the Gov
ernment from a current redemption of
present liabilities, United States legal
tender and treasury notes and from re-
sponSibility for maintaining the parity
of silver and gold, putting the respon-
sibilities on the banks.
Walker said that this was the OBJ
ject.
Secretary Gage thought the bill
lacked explicitness, and suggested that
the bankers do not want to assume
ambiguous responsibilities.
Walker asserted that the RESPONSE
bility was absolute, and proceed TO
explain why
There was a long discussion on this,
feature, which the Secretary said puZ-
zled MN considerably. Walker, in the
course of the discussion suggested that
the bill made allowances for the sus-
picion that we may have a disaster.
panic, or something of the sort. and
that the exigencies of such events were
guarded against.
Representative Hartman of Montana.
one of the silver leaders, said that
Messrs. Towne and Warner Will make
no further effort to be heard before,
the committee, preferring to go to the
people with the understanding that
the opposition is denied a hearing.
The hearing of the currency bills was
finally brought to close this afternoon.
and the committee will met again next
Wednesday to decide which of the four
bills before it is to form the basis OF
the currency measure to be finally re-
ported. These are known as the Mon
etary Commission, Gage, Walker and
Fowler bills.