The Portland daily press., 1898-02-03
REFORMERS DISAGREE.
Turbulent Meeting Of the House
Currency Committee.
CHAIRMAN WALKER CHARGED
WITH RULE Or RUIN POLICY.

Mr.. johnson OF Indiana Responsible tar
Doesn't Believe In Limited Measure
of Reform-Cox National Bank Bill To
Be Reported.
| Washington, February 2.-The House
committee ON banking and currency held
turbulent session today over the pend
Ing proposition for currency revision.
Early in the meeting Mr.. johnson, Re-
publican of Indiana had heated colloquy
with Chairman Walker, in the course Of
| which, Mr.. johnson declared that the
chairman was pursuing "ruie or ruin'
policy as to the line of currency action
which the committee should take. Mr..
Walker resented this, saying he would re-
gard Mr.. JohnsOn's course as personal II
it was persisted in.
Later, Mr.. Hill Of Connecticut, moved
to take up the measure embodying tho
Presidents recommendations ~ to the
specific changes in the banking laws.
This again met warm opposition from
Mr.. johnson. who said action OF this
to larger measures Of currency revision
now pending before tho committee. In
vehement tones he questioned the good
faith Of those who were urging limited
measure Of revision, saying that they
tion of Hawaii to give sincere support to
the full accomplishment OF financial re-
form. With much feeling and emphasis,
Mr.. johnson expressed his regret that tho
President had not earenstly urged the
fullest measure of currency revision, in
stead Of the limited plan now brought be-
fore the committee.
Owing to the feeling aroused on the
subject, final action was not taken on the
motion to proceed with the Presidents
recommendation and the Republican
memIers determined to take up this and
other subjects later In the day, when the
Democratic members were not present.
Without objection the COMMITTEES deter
II ined to report favorably Representative
Coxs bill to promote the safety Of
national banks. The essential feature Of
the measure Is restriction on bank
officers from borrowing funds Of the bank
and thus crippling it. 1t provides that no
such loans shall bs made until majority
Of the hank directors approve it. 1t also
prohibits the overdrawing OF accounts by
the president, directors and other officers
Of the banks. Violation of tbs measure
Is made misdemeanor, subject to fines or
imprisOnment.--
4 Mr.. y johnson stated after the meeting
that white he was charaotsrizing as
makeshlft the bill embodying the Presi-
dents recommendations ono OF the MEM
bers interposed the suggestion that MIR.
johnson was opposing the President
To this he replied that he was not op-
posing the President, as he believed him
to be inspired blythe most patriotic pur-
poses. At the same time. Mr.. johnson
declared, he would not hesitate in proper
parliamentary language to take issue
with the President either in the commit
tee or on the floor Of the House, as he
felt the occasion required. He felt that
in the present case the President was not
putting his whole heart into the cause
OF currency. Mr.. johnson said he held
the committee in part responsible for
this condition, as it had failed to agree
upon comprehensive measure which
could command the Presidents support
and influence. Let, the committee agree
on such measure and MT. johnson did
not doubt that the President would then
give his power for the assistance towards
It's enactment. At the caucus.of Republi-
can members of the COMMITTEES during the
afternoon it was agreed to 60 over the
several bills before the committee with
a view to agreeing upon the general prin-
ciples of q measure to be reported.