Arizona republican., 1899-04-03
CURRENCY REFORMS
Potable Work of inc HOuS c
 Caucus Committee.
Believed That if Will Formulate Some Practical Measure at lis Meeting in Atlantic Cify-The Presidents Suggestions.

draws near for the meeting of the
 house caucus committee at Atlantic
 City to discuss the currency questions
 interest in the subject increases. April
 17 is the date fixed for the beginning of
 the sessions, which will probably ex-
 tend through several weeks.
 Those who are concerned in the pro
 posed changes in the currency laws
 anticipate some tangible results from
 the deliberations of the caucus com
 mittee. They base their hope largely
 upctn the fact that party policy is be- 1 hind the movement. It was inaugu-
 rated by the republican majority of the
 house of representatives for the pltr- pose of accomplishing something prac- tical. It is by TO means a political | subterfuge, it is claimed, but an honest | intention to do something for the good
 of the party and the country
 It is understood that efforts will be
 made at the next session of cong 1ess to
 carry into effect the recommendations
 of the caucus committee Action hith- erto upon currency questions has been prevented by the inability of the cnm-
 mittee on banking and currency to | agree upon a bill It is not eXpec-ed that any greater unanimity will be found in that committee next session,
 in view of the fact that more than
 majority of the old committee was re-
 elected to the next house.
 Trouble will be avoided, however, it is said, by placing the currency bill
 or bills under the jurisdiction of the
 committee on ways and means. fnas- much as the prospective chairman of that committee is a member of the house caucus committee, it is assumed that the recommendations of the eau GUS committee will be we'll introduced to the ways and means committee.
 The probable scope of the caucus committees work is a subject of dis cussicn at this time. If the wishes of I the Indianapolis monetary convention ! are consulted the committee will gC | into the reform of the banking laws | to Q considerable extent, but the gen. eral impression is that the time will | be found inCpportune to deal eX- haustively with the question: It is be- lieved in well informed circles that the caucus committee will content itself with framing one or two changes Of existing law of a more pressing char acter
 In this connection it has been sug- gested that recourse may be had to a financial recommendation of the presi- dent conveyed in his annual message to congress. It is not complex in char acter, but it is regarded by republicans as important in effect
 In his message to congress in De- cember, 1897, the President made the suggestion, and repeated it last De- cember, as follows:
 That when any of the United States notes are presented for redemption in gold and are redeemed in gold such notes shall be kept and set apart and only paid cut in exchange for gold This is an obvious duty. If the holder of the United States note prefers gold, and gets it from the government, he should not receive back from the gov ernment United States note without paying gold in exchange for it.
 '"The reason for this is made all the more apparent when the government issues an interest bearing debt to pro- vide gold for the redemption of United States nOtes-a non-interest bearing debt. Surely it should not pay them out again except on demand and for gold. If they are put out in any other . way they may return again, to be fol- i lowed by another bond issue to re- , deem them, another interest bearing / lebt to redeem a non-interest bearing I lebt'' r
 'This recommendation, said the , President, was made in the belief that such provisions of law would insure to I greater degree the safety of the pres q ent standard and better protect our c from the danger to which it [ $ subjected from disturbance in the Q general business conditions of the country.
 ''In my judgment, the present c0ndi- ion of the treasury amply justifies the immediate enactment of the legisia- 0 ion recommended one year ago under b which a portion of the gold holdings F hould be placed in trust fund from i which greenbacks should be redeemed lpon presentation, bug when once re- o eemed should not thereafter De paid c ut except for gold" 0
 The President added the following f ignificant sentence: a It is not to be inferred that other u egislatiOn to our currency is not Ie- P uired on the contrary. there is an e bvious demand for it D. Under the last suggestion the caucus r' ommittee would have a wide field of re peration, but, as stated, it is deemed W cry doubtful if the committee at h smp5s to cover it at this meeting. ol What is desired is to prepare for pre- qV