New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-02-03
MONETARY PLAN FORMED.
40 FINANCIAL LEGISLATION AT THIS
SESSION OF CONGRESS.
THE REPUBLICAN HOUSE CAUCUS REFERS
THE SUBJECT TO A COMMITTEE
WHICH WILL REPORT AT THE
FIRST SESSION OF THE
LvITH CONGRESS.

LNlIH NONGkfSS
Washington. Feb. 2.-The Republican mem
bers Of the House Of Representatives met in
caucus at O'Clock tonight to determine on a
course Of action in regard to framing financial
legislation The meeting well attended
most Of the prominent figures on the Republican
side Of the chamber being present. These in
cluded Chairman Payne Of the Ways and Means
Committee and Messrs. Grosvenor. Henderson
Hopkins. Steele. Cannon. Walker, Brosius
Stone, Hepburn Tawney, Evans, Grout. Hill
Prince. Corliss. Bennett and the rank and file
Of the Republican membership. Speaker Reed
did not attend, having made another engage
ment
General Grosvenor, the chairman OF the eau
Gus. presided. and Mr. Bennett, of New-York'
was chosen 70 succeed Mr. Hooker, resigned
Representative Henderson, Of Iowa, presented
the following resolution. which served as text
for all the discussion Of the evening:
Resolved That a committee Of eleven mem
bers Of the present House Of Representatives
who are members Of the LVIih Congress snail
be appointed by the chairman Of this caucus
for the purpose Of considering monetary leSls-
lation and submitting their RECOMMENDATIONS 10
a Republican caucus at the first session OF the
LVIth Congress- with authority 10 confer with
a like committee from the Senate
AN'0AN~AH-
with much animation for more than an hour.
Those who spoke were Messrs Henderson,
Tawnev. Cannon. Walker. Payne and Hepburn.
There was little difference Of opinion on the
main point-that it would be futile to attempt
financial legislation this late day in the present
session Mr. Henderson made a strong speech
in support Of the plan embodied in his resolu-
tion and pointed out the advantage Of having
committed a Dolly
serving both in this Congress and the next rep
resenting the various sections Of the country
and. 50 far as possible. its diverse business and
economic interests.
Mr.. Cannon questioned the wisdom Of the
resolution although he said he would not oppose
II with his vote He expressed a strong belief
however that the present prosperity OF the
country made it inexpedent 10 enter upon hnan-
clal discussions. lie referred particularly 10 the
enormous exports In recent months and the
great money balance In favor Of the United
States This he thought. sh owed ucn heaIthy
economic condition that it should be leIt atone aIohe;
Mr. Cannon said he did not think any nnanclal
LEGISLATION could be carried through Congress
until afrer the next Presidential election.
Mr. PAYNE the recently appointed chairman
of the Ways and Means Committee did not
agree with Mr.. Cannon. and strongly favored
the plan Of committing the entire financial
question 10 a caucus committee. IL would per-
nit careful consideration or the question: ahu
the preparatiO Cf well-matured plan when
would commend itself 10 all interests. Mr.
PAYNE expressed the belief that such measure
Gould he passed early in the next session Of
Congress. and probably in the winter months
The other speeches We're substantially along
the same line general adherence being given 10
the plan Of caucus committee representing all
sections and interests This II was pointed out
would be no reflection on the regular House
committees which deal with banking and cur
rency and with coinage as these committees
end with the session. while the Caucus Com
nlttee. being made up Of reelected members
could pursue it's abors without reference 70 the
close Of the session Moreover. II was shown
that the subject would be relieved from such
ernbarrassments as arise between the several
House committees having charge OF different
branches OF the financial question.
When the vote was taken Y was little short
OF unanirnous-ayes 50. noes. t. The cha rman
announced that the names Of the members Ct
,be new committee would not he announced az
nrosent. as some time would be required TO learn
lie wishes OF members concerning the hard work
likelv TO be involved in this service, and also
- make up a strong organization. thoroughly
representative in character. At 10 O'Clock the
caucus adjourned.