New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-01-15
THE CURRENCY HEARINGS.
MESSRS. TAYLOR AND FRIES. OF THE
MONETARY COMMISSION. SPEAK.

Wv
WHEN SECRETARY GAGE AND Mr.. FAIR
CHILD ARE TO GIVE THEIR VIEWS on
THE BILLS BEFORE THE COMMITTEE.
[RY TELEGRAPH TO THE TRIBUNEl
Washington Ian 1.-THE members of the House
COMMITTEES on Banking and Currency were tardy
this morning ana the hearings were not resumed
until about thirty minutes after the appointed hour
Even the energetic and busting chairman was
late. He excused himself by saying that he had
been detained 10 search for important papers ne
had mslald in one Of the Treasury Offices. and the
excuse was accepted by his colleagues. who were
guests at a dinner last night where he was the
host. The dinner was good one. which eVerypodY
present enjoyed 10 the full until after the speech
making began when. It IS whispered the atmos-
phere Of the banquet-room became somewhat
tinged with gloom and the visases OF a number
of those present became overcast with gloomy fore
holdings the sim prospect OF monetary reform
legislation before the expiration Of the LNth Con-
grefs. However that may have been the nearing
to-day appeared to drag heavily at times hVrn
Chairman Walker seemed to be less pugnacious
than usual and not quite Of himself. for
he refrained from crossing swords with anybody
except the mercurial Newlands. Of Nevada
BILLS BEFORE THE COMMITTEE.
There is every reason 70 expect that the hearing
Monday. until which time the committee has ad-
journed will be exceedingly lively and interesting.
on that day Secretary Gage and ex-Secretary fair-
child give their opinions as experts respect
ing four of the bills pending in the commit
tee These bills
First-That framed by the Secretary OF the Treas
ury and introduced in the House Of Representatives
by Mr.. Walker or December &C. 1897. TO provide for
the refunding Of the National debt for establish
ing n redemption fund, and division of issue and
redemption in the Treasury OF the United States,
and modify existing avs respecting Nators
banks and for other purposes"
Second-The bill prepared by the Monetary Com
mission and introduced in the House by Mr. over
street. Of Indiana, on January 8, lhSS. TO provide
for Strengthening the public credit. for the retire
ment OF the demand obligations OF the United
States and the amendment OF the laws relating 10
National banking associations"
Third-The bill offered by Mr.. Fowler. Of New
Jersey, 10 amend the National Bank act. take the
United States Government out Of the banking busl-
ness refund the Natona. debt. reform the cur
rency insure depOsitors. improve and extend our
banking system, and TO provide funds in case OF a
deficit"
Fourth-The bill offered by Nj Walker OF Massa-
chusetts, TO change the National Bank act
as to secure to the people In all sections Of the
country all equal opportunity TO freely use paper
money"
Irasmuch as the authors OF these bills Will be on
hand in person to advocate and defend their pro-
visions and the author OF one Of them Will preside
at the hearing. spirited and enjoyable. II not
an harmonious, meeting seems to be assured
STATEMENTS OF TAYLOR AND FRIES.
Messrs Taylor. Of Indiana. and Fries Of North
Carolina occupied the time devoted to the hearing
to-day and both OF them were piled with ques tons
relating not only 10 the general subject oi baKk.
Ing IN the United States and other countries, but
eiaed the MonetaTy comhssoa in framing Ger
tain provisions Of the meas re II has recommended
Some of these questions. especially NUMBER OF
those put by Mr.. New lands, appeared TO be de
signed to ascertain the extent and accuracy Of
. fe knct led pf ed l.
bers Of the Commission respecting existing none
tary and currency conditions and the probable ef-
lation. Judge Taylor made a concise as well as
luminous and satisfactory statement In which he
or remote communities from local banks and
branches Of large banks situated at the money
Mr Fries Of Salem. y. c.. who has been
engaged IN manufacturing cotton and woolen
and who is also president Of A National bank, gave
exceedingly interesting account Of the condition
Carolina. as respects banking facilities. In the
course OF which ne e@r5essed the opnlOn NAT
be satisfied with better and cheaper banking faci-
If free silver coinage at 10 20 should be estab-
lished tomorrow would be as discontented ever
sess a dollar however cheap" It might be- In
reply to questions by Mr.. Johnson and other mem
bcrs Of the committee 10 whether. In his Opu-
ion the enactment OF a law which would give all
ply OF safe currency would result in an abatement
OF Is TO l. Mr. Fries said that It might ultimately
40 So but they must remember that political sen
mixed" and hat the demand FOR free and uniim.t
ed silver coinage was not confined 10 that State
or peculiar 70 il. There were thousands Of good
men IN North Carolina he said. who voted for
Bryan last year because he WAS the candidate Of
their party who did not believe in free silver
coinage and who also ala MOI believe that ire
silver coinage would Sope II f he ShOuf be elected
the party platform.