Evening star., 1898-02-03
RADICAL CURRENCY REFORM
Sentiment Shown in the House BANKING
Committee.
Dennite Line of Action Agreed Upon-
substitution of Bank for Govern.
ment Paper Favored.

The republican members of the House
committee on banking and currency have
at last agreed upon a definite line of action.
1t has been decided to proceed with the con-
sideration OF the comprehensive measures
OF currency reform which are before them
and to give two days each to Chairman
walker and Representative Fowler for the
explanation of their bills Mr.. Fowler viii,
make his statements at meetings of the
committee tomorrow and next Monday
Mr. Walker will have the floor on the fol-
lowing Wednesday and Friday. The COM
mittee VIII then meet for executive busi-
fess ON the following Monday February ID
and will endeavor TO agree upon a cousnra'
nensive measure of legislation This is
hhely 10 require some time, but the mem
Ders OF the committee have already agreed
upon some of the principles which will gov
ern them in framing a BILL
These principles will involve the retire.
ment or locking up Of the greenbacks and
nne issue of an elastic banking currency
baseo III large measure upon commercial
assets. All these matters have been dealt
with by the republican members in private
conferences.
There was an effort yesterday at a full
meetihs OF the committee to call up the
Dill introduced by Representative Brosius
OF pennsylvania. raising the circulation to
the par value of the bonds deposited as a.
CURLY, reducing the tax on national banks
aaiu ooeitorizlnS banks IN small towns
rms measure Is not favored by advocates
OF radical currency reform, because they
believe 1t would produce no material re-
suits. except trihing profits to the banks
ana would not involve enough benefits to
tne banks to result in increased loans. low
er interest rates or important extensions of
banking privileges. The bill is character
lied Dy some of the more pronounced cur
rency reformers as ''pop-gun" measure,
and they declare that its passage would be
ds mucn OF an Insult to them as the Cor
man tariff was an insult t0tariff reformers.
Inns measure Is being advocated by Ger
tam prominent republicans who 1t is claim
CO. Tear 10 go before the country with a
more complete measure, and ii was as
serted on Tuesday night that q majority of.
the banking committee We're pledged to re-
port II 10 the House. An effort would then
nave been made to persuade Speaker Reed
10 call a melting of the committee on rules
ana provide for the immediate passage of
Inc pop-gun bill by the House The cur
fency reformers declare that this would be
the end OF currency reform for the present
session. and that just this result Is sought
IN certain quarters.
Mr.. johnson of Indiana protested aeaipSf
the program yesterday, and was sustained
Dy several other members OF the committee
Inc motion to take up the .pop-gun" bill
was nnaliy laid aside, and the republicans
went INTO conference, with the result of de-
ciding TO hear Mr.. Fowler and Mr.. Walker
on the dates already named. 1t will proba-
Diy require one or two weeks to perfect a
Dill. 50 that report cannot be made to the
House until March I. and probably not so
soon The friends Of comprehensive
measure believe that they have q safe ma
)orfty OF the full committee, but that some
concessions may be required to secure q
favorable report.