The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1899-04-17
CONSIDERING FINANCE
Congressional Committee Discuss
ing Monetary Legislation.
THE INDIANAPOLIS CONFERENCE


VIII BE Represented Before the Conn
mittee by II. II. Hanna, who wiu
Urge the Enactment of the Gold
STANDARD Into Law.
Atlantic City. April 1.-THE com
mittee on monetary legislation APP
pointed at a caucus of the Republican
members of the national house OF rep
resentatives shortly before the ad-
iournment Of congress began its ses-
sions in this city today. General Da-
vid b. Henderson, of Iowa, is chair
man, and the others members of the
committee are John Dalzell of Penn
sylvania, Serene Z. Payne of New
York, Jesse Overstreet of Indiana,
William c. Lowering of Massachusetts,,
Charles Curtis of Kansas, Page Nor
ris of Minnesota, Eugene f. Loud OF
California, r. b. Hawley of Texas, J.
W. Babcock of Wisconsin and w. 5.
Kerr of Ohio. Haddon Hall, one OF
the largest hotels on the beach front,
is the headquarters of the committee,
and the meetings will be held in one of
the parlors.
The gatherings will be private and
will probably be irregular, as the work
assigned to the members partakes
more of the nature of a conference,
and as the committee is not a public
one it will only give out such news
for publication as best suits is pur-
pose. 1t is expected that the sessions
will last not less than two weeks, and
they may extend much longer. The
committee may decide to perfect a bill
to meet the situation, or they may out
line a measure and then adjourn to
meet again later in the year. They
will have all of the important bills on
the currency question that we're before
the last congress, including the bill of
the monetary commission the Nc
Cleary bill, which was reported favor
ably to the house by the banking COM
mittee; the Hill bill, which was given
favorable report by the house coin
age committee; the bill prepared by
Secretary Gage and the bill of Chair
man Walker. of the committee on
banking, who is no longer a member
Of congress.
Mr. Overstreet, who has given the
subject much attention, has prepared
a comparison of the principal features
of all these bills, which will be of
much value to the committee.
There has also been secured from
the treasury department a great mass
of valuable financial data, including
the reports of the secretaries, comp
| trollers of the currency and directors
of the mint. In addition the commit
tee will have at it's command a COM
plete codification of the existing cur
rency laws.
1t is expected that many distinguish
ed financiers will be given the oppor-
tunity to appear before the committee
and present their views on the subject
| of the expansion of the currency, the
| establishment of the gold standard
| and other matters to be considered
| H. II. Hanna and other representatives
| of the executive committee of the In
| dianapolis monetary convention, will
be here during the sessions to urge the
bill of the monetary commission. This
bill was framed by a commission of
which ex-senator George F. Edmunds
was chairman, and which included ex-
Secretary Fairchild of New York, c.
Stuart Patterson of Philadelphia, John
w. Fries of North Carolina and other
financial experts.
Mr.. Hanna was directed at a recent
| meeting OIL Iue luuldudDOllS executive
committee to urge the adoption of the
entire program of the monetary COM
mission, but, if this does not appear
possible, to accept notifications not
inconsistent with the principles of the
bill. These principles relate to the
enactment of the gold standard into
law, the protection of the treasury
against gold raids by means of a more
definite and greater provision for
greenbacks, and the adoption of an
adequate and flexible currency for tho
future needs of the expanded republic.
1t is said to be probable that each of
these topics will be considered in turn
by the caucus committee, but just how
far they will go is not yet determined
The fact that the leadership of the
house is represented in the makeup OF
the committee and that their action
will in a great degree bind the Re-
publican party, may produce a con-
servative tendency, but the pressure
for some means of meeting currency
needs is being strongly felt in Wash
ington, and the treasury officials are
reported as determined to urge upon
the committee the necessity of making
full provision for putting the cur
rency on an enduring basis.