The evening times., 1899-11-25
4 CAUCUS ON CURRENCY
Tie House Committee to Hold a
Sunday Session.
Members to Meet I'm the Rooms of
Representative Henderson Tomor-
are Which VIII BE Acceptable to
Republicans i'm the Upper Branch.

The Caucus Committee Of the House of
Representatives on the Currency bill will
meet tomorrow in The rooms of Represen-
tative Henderson,, at the Hotel NormanGis.
This meeting was to have been held today.
but was not, because majority of The
committeeman desired to attend the fun
eral of Vice President Hobart.
The reason for the Sunday meeting is
that the Senate Committee on Finance will
hold a session on Monday, and 1t is con-
sidered desirable that the House Caucus
ment on the proposed currency bill before
that time.
The members OF the House Caucus Com
mittee, and the Republican members of
the Senate Committee on Finance will er-
deavor to harmonize the bills which these
committees have prepared rs currency
reform measure. aa1sr fa
The House Caucus Committee is COM
posed of the following named members:
Mr.. Henderson Of Iowa, chairman; Mr..
Overstreet Of Indiana, Mr.. Babcock Of
Wisconsin, Mr.. Lowering of Massachusetts.
Mr.. Payne Of New York, Mr.. Dalzell of
Pennsylvania. Mr.. Curtis of Kansas, Mr..
Kerr Of Ohio. Mr.. Loud Of California. Mr..
Morris of Minnesota, Mr.. Hawley Of Texas.
This committee was appointed at a eau
Gus OF the Republican members at the end
of the last session OF Congress, and was
directed to hold sessions during the sum-
mer for the purpoe of preparing curren-
cy bill that the Republican members of
the Fifty-sixth Congress could adopt. The
committee met at Atlantic City. and after
much work, decided upon a measure which
1t was believed met all requirements.
The provisions Of this proposed bill have
been jea,ously guarded from the public. but
the measure has been submitted to high
Republican officials for approval. One Of
these officials, who is conversant with the
contents Of the BILL said to a reporter for
The Times today:
The bill first provides for an unequivo-
cal declaration for the gold standard. 1t
contains a proviso that certain portion
Of the gold reserve of the Treasury shall
be set apart for the redemption Of Treasury
notes. and that when these notes shall have
been redeemed they shall again be paid
out only in exchange for gold.
1T is claimed for this provision that it
will prevent the operation OF the endless
chain system and will prevent brokers and
and others from controlling the gold.
Another provision of the bill is the in
crease of the national bank circulation
iTOsu W cent Ol It's DouuS ucpO-iltu u
secure circulation under the present law.
to the par value of such bonds deposited.
This. it is claimed, will increase circulation
and make money easier.
THE bill also provides for the establish
ment of national banks with capital OF
s25, 600 in towns of 1000 or less popula-
ton. The present minimum of capitaliZa-
ton is $500
1T is claimed for this provision that il
will open up new fields in small towns.
particularly in the South and West. where
banking facilities in agricultural districts
are restricted to a degree that frequently
retard the industrial progress of these To-
calities.
During the sessions held last summer
by the Republican members of the Sen
ate Finance Committee at the Fifth Ave
nue. Hotel. New York and elsewhere. they
discussed the measure proposed by the
House Cautus Committee, and with it as
basis, they drew up new bill. which only
differed from the House bill in minor de-
tails. The general features remained pTac-
tically the same
The Senate committee endeavored to
have the House committee substitute its
bill for the House bill. but met with an
absolute refusal. The Senators were equal
ly determined in expressing their refusal
to accept the House bill
III tnlS cCuultlon lnt pfOpOstu iesiSidllOH
has remained until the present time. and
it is with the hope that harmony may ex-
ist in reference to currency reform meas
ure that the joint meeting will be held.
1t was said today by excellent authority
that the House Caucus Committee will not
recede 4 step in the controversy. and that
if any concessions are made they must
come from the Senate Committee. 1t was
also said that the Senators are equally
Jota tE,t t,..1I
meet them. at least, half way.
1t is by no means improbable that the
two committees will be unable to reach
an agreement and that separate currency
reform measures will be introduced in tie
House and Senate. There is one thing that
has been assured by the two bills, which
is, that the Republican party will, through
either of them place itself squareiy before
the people as advocating the single gold
~rIo rJ