Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1898-01-27
BANKING COMMITTEE VIEWS.
Republican Members Express Them
selves With Regard to Curren-
CIV Reform Plans.

Washington. Jan. 26-The house commit
tee on banking and currency met to-day,
but after a brief session did not take ac-
ton toward reporting any currency bill.
Considerable interest attached to the meet
ing. in view OF the recent extended hear
ings and of the present monetary meet
ing in Indianapolis.
In behalf of the minority. Mr.. Cox, of
Tennessee, moved that the official proceed
ings embrace the application for hearing
of President Warner, of the Bimetallic
union, and Chairman Towne, of the silver
Republican committee, and the refusal or
the committee TO hear them. The motion
was defeated by party vote, with the
exception of Chairman Walker. who voted
with the minority.
The committee then adjourned until next
Wednesday, and the Republican members
went into executive secret session with
view of reaching some common under
standing If possible.
AT the executive session the individual
attitude of the members was polled and the
procedure in the drafting of the currency
legislation mapped out. The Republican
members of the committee decided to meet
on Monday, Wednesday and Friday of each
succeeding week until their work is ended.
Chairman Walker, of Massachusetts, and
Messrs. Hill, of Connecticut, and Fowler,
of New Jersey, We're appointed a commit
tee TO prepare and present TO the Repub-
lican members Friday order of exam
ination and discussion of the various prin-
ciples involved in the legislation. Each
principle is TO be voted on.
A resolution offered by Mr.. Johnson, as
signing each one present nve minutes in
which to declare his attitude, whether he
thought there was a necessity for banking
legislation, and. If so, what essential prin-
cipies he favored for incorporation in the
currency measure to be finally framed.
was passed and the roll then called. Mr..
Walker favored revision of the system
which would take the currency business
from the government, and furnish at once
banking on assets. He would not ap-
prove any plan materially differing from
this, and in this policy would not neces-
sarily cling to his bill.
Mr.. Brosius. of Pennsylvania, was op-
posed to retiring the greenbacks and to
banking on assets in any degree.
Mr.. Johnson. of Indiana, urged the gold
standard, retirement of the greenbacks,
eliminating the currency business from the
treasury, and issuing new. circulation
through national banks to take its place,
and avoid contraction, the new circulation
to be under national control.
MIR. Van VOORHEES,. of Ohio. substantially
Cleary. of Minnesota: Fowler, of New Jer-
sey. and Mitchell. of New York. had views
along the lines of Mr. Johnsons policy.
Mr.; spaldng. of Michigan. opposed a
words. and was not certain that he was
willing to have the greenDacks retired or
TO have credit currency:
Mr. Hill, of Connecticut. favored the
monetary commission bill and practically
agreed with Mr.: Johnson.
Mr. Prince. of Illinois, opposed the specific
thought the retirement of greenbacks
should be carefully dealt with. and favored
banking on assets. Mr.. Capron, of Rhode
Island. approved OF allowing banks to ex-
bonds, the incorporation of banks with
stock. capital and a diminished tax on
circulation. This. he believed. would pave
the way for a more extensive currency leg
iSlatiOn in the future.