The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-11-29
Mr.. Mckinley Urged to COnRne the
to a Statement OF Principles.
REFORMERS NOT ALARMED
OVER THE REPORTED ATTITUDE OF
THE CURRENCY CONTROLLER.
Dawes Opposed to Only One Fenture
of Proposed Financial LegisIa-
tiOn-The Regular Army.
Special to the indianapolis journal.

Special to the Indianapolis Journal.
WASHINGTON, Nov. 2S-Currency re-
form leaders in no wise disconnected
by the talk that the controller of the cur
rency will take grounds in his annual report
to Congress against pending bills emanating
from the monetary commission and other
friendly sources on the ground that they
discriminate against depostors in cases of
national bank insolvencies. The controllers
position is well known, but currency re-
formers claim that he only attacks one fea-
ture of the monetary commission bill and
kindred measures and that Congress can
amend the bills to meet the criticism with
out in any way impairing the grand pur-
pose of the proposed legislation. The
amendments to the national banking laws
were tackled on the bill and allowed to re-
main there in order to obtain the approval
of certain congressman to the measure as
a. whole. The proposition to authorize ma
tional banks to issue notes on their assets
by no means meets the undivided approba-
ton of the phalanx of currency reformers,
and there will not be general mourning
when that section is modified to meet the
popular view, which is that there must be
no legislation which will force depositors to
pay the losses and enable the banks to
make the profits.
The currency reformers have not ADAM
doned the hope of some sort of friendly ac-
ton by the House at the short session, al
though they will not be greatly disappointed
if they do not succeed in securing it. They
are concentrating their efforts at the pres
ent time on a campaign for an extra ses@
sion of the Fifty-sixth Congress, and eX-
press great faith in their success. 1t is
their belief that the President in his mes
sage will leave the door open for an extra
session. They have not asked him to COM
nit himself to an extra session, but merely
to place himself in position where he can
call one if events shape themselves so as to
make it appear necessary for Congress to be
specially convened. He has been strongly
advised against recommending any particu-
lar scheme of currency reform, but at this
stage to merely confine himself to a state
npent of general principles. 1t is believed
that he will act on that advice which comes
from some of the most faithful friends and
champions of monetary legislation. The
President has told callers within the last
day that he has said to nobody that he was
against special session or that he was OPP
posed to action by Congress along the lines
of currency reform. He went further even
than that, and declared that he had not au-
thorized anybody to speak for him in these
particulars, or had not inspired any of the
interviews which had been appearing of
late as possibly representing the White
House views.
The President to-day read that portion
of his message recommending an increase
in the regular army to Chairman Hull of
the House committee on military affairs.
Chairman Hull champions the plan, and be-
fore he left Washington for the West urged
it on the President. The Hull plan con-
templates an increase in the strength of
companies to $50. BY that means the army
could be increased nearly Is per cent with
out a corresponding enlargement of the Off
GERS pay roll. This to his mind is the
most effective and the least expensive way
of increasing the army. Chairman Hull ex-
plains that the government will have need
of large standing army for service in the
West Indies and the Philippines for several
years, and that as affairs quiet down and
the necessity for soldiers diminishes the
number can be cut down. Mr. Hull is pre-
pairing an army bill and will introduce it
very soon after Congress convenes.