New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-01-21
CURRENCY HEARINGS CLOSED.
SECRETARY GAGE BEFORE MR. WALKERS
COMMITTEE AGAIN

Washington Jan % (SpeciaD.-The hearings be-
fore the Banking and Currency Committee OF the
House OF Representatives the various currency
reform bills pending before il ended this after
noon. when II announced that the Cross-exam-
inaton OF Secretary Gage had been finished and
the Republican members of the committee held
short secret conference and agreed 10 hold another
early week Some OF them appear to be-
leve II will be practicable to frame bill which
will receive the approval and support of majority
Of the committee.
There was a noticeable lack Of interest
Tested In to-day's hearing. and barely quorum OF
the committee present. This was true even
after the encounter began between Chairman
Walker and Secretary Gage AT the afternoon
session This episode exceedingly interesting
and divering and II IS 10 be hoped that full
report OF IT will appear in the printed record.
The difficulty seemed 10 spring from two causes:
First Mr. Cages inability comprehend the full
scope, meaning and effect OF Mr.. Walkers bill
(Which the Secretary canddly referred TO as IAN
occult measure') and. second. his unwngness
TO agree that 1t was perfect scheme OF banking
and monetary reform. In these respects the Sec
rotary Of the Treasury placed himself In the same
category. in Chairman Walkers estimation with
his own colleagues Of the Banking and Currency
Committee. well with all the bankers Of the
country. with a single exception. who have studied
the Walker bill and expressed opinion In regrad
20 H. It must be sad for Mr.. Walker TO feel that
after all the study. investigation and labor he has
given to the subject and bestowed on his BILL only
one banker to whom It has been submitted has
professed TO be able TO comprehend his scheme or
currency and monetary reform or agree with MS
conclusions No statesman ever gave better ex,
hibiion Of zeal. industry tenacity of purpose and
sincerity OF conviction than he has given as chair,
man Of the Banking and Currency Commlttee' ana
vet he has found a single member OF u VINO
was able 10 comprehend agree with him.
The result OF the vote IN the Senate ,o-Say on
Matthews resolution became known 10 the mem
bers of the Banking and Currency Committee ms
who have hitherto believed that moderate cur
rate IT wo S be WORTH phe TO try to
one. The news Jared them In disagreeabie man
ner and Of eourse WAS sau who hailed Il as
the dea -kne of all hopes and prospects or BANK
ing and currency legislation by TIE LNth Congress
cussion in detail OF the provisions OF the Walker
bill Secretary Gage appeared for examination,
but instead turned questoner, and put Chairman
Walker through a long series OF nerrogat tories.
He asked IL Mr.. Walker did not aim in his bill
substantially TO relieve the Government from cur
rent redemption OF present liabilities, United States
legal-tender and Treasury notes, and from re-
and gold putting the responsibilities on the banks.
Mr.. Walker said that was the object secretary
Gage thought the bill lacked explictness and sug-
bguous responsibilities ~
Mr. Walker asserted that the responsibility was
was a long discussion this feature. which. the
Secretary said. puzzled him considerably.
gested that the bill made allowance for the sus-
pcion that the country may have disaster. a
panic or something Of the sort. and that such
exigencies were guarded against
Representative Hartman; OF Montana. one OF the
ner will make further effort to be heard before
the committee. preferring to go before the people
The committee will meet again next Wednesday
20 decide which Of the four bills before il is 70
form ne BASIS s OF me h 10 ne a
mission Gage Walker and Fowler bills.