Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-11-27
THE GOLD STANDARD
Main Features of the Proposed Cur
rency Measure.
GEN. HENDERSON TALKS ABOUT IT
Senate Finance Committee Differs
as to Declaration.
BILL TO BE REPOR TED

An important meeting of the majority Of
the members of the republican House eau
Gus committee, which prepared the cur
rercy bill a Atlantic City last summer, was
held last night in Speaker-to-be Hender-
sons room, and it was resolved that the
measure agreed upon by the committee last
summer should be pressed to final action
with all the vigor possible. Seven of the
eleven members of the committee were
present, and invitations had been sent to
the other four, but they were unable to be
present. sending messages. however, that
they would adhere to any action taken by
these who participated in the conference.
Those present were Gen. Henderson, Rep
resentatives Payne, Dalzell. Norris Curtis,
Babcock and Overstreet Another impor-
tant feature of the conference last night
the decision reached by the members
of the committee that in addition to the de-
termination to undertake early and speedy
action on the bill. they agreed that they
would stand firm in their purpose to have
gold made the standard of value. In speak
ing about the meeting last night, Gen. Hen
derson said: "One of the purposes of this
informal meeting was to see whether we
We're all still firm in the faith; whether
what had been said to Us had produced any
effect, or whether circumstances have
arisen that would warrant in making
any changes n the bill we agreed upon al
Atlantic City. No changes made in
the bill whatever, and we are all still of
the same opinion. We have gone over the
bill and our memories have been refreshed,
and we have discovered nothing we desired
to alter"
Main Features of the Bill.
The main features of the measure thus
approved are as follows:
An amendment to the coinage laws. MAX
ing 25as grains of gold, 800 parts fine, the
standard coin measure.
An amendment to the greenback reissue
act of 1873 providing that those treasury
notes shall be redeemed with gold and
when so redeemed shall not be reissued ex-
cept in exchange for gold. This provision
will prevent the operation of the endless
chain which hitherto has been the means
to raid the gold reserve.
An amendment to the specific resumption
act directing the maintenance of a gold re-
serve of not less than S1GO,000000. The
maintenance of the reserve at that figure
now being entirely discretionary to the Sec
rotary of the Treasury.
An amendment to the national bank act,
authorizing banks to be organized with a
capital stock of $4,000. AT present the
minimum is $4,000. Another amendment to
the same act authorizing banks to issue
notes to the par value of the bonds they
have on deposit to secure circulation. At
present the limit is 80 per cent. A third
amendment to this act reduces the taxation
on bank circulation to One-tenth of / per
cent. This tax Is to pay the expense of en-
craving and printing the notes. The pres
ent rate more than meets this expense.
Issue With Senate Committee.
The action Of the committee in declaring
tor the gold standard in unmistakable
terms throws down the gauntlet to the
Senate finance committee, for that commit
tee, in preparing the Senate bill, it is as
serted, does not use the same clear lam
in .,,.l tl,1i,,
House committee does, The Senate com
nlttee, it is claimed accomplishes the
same object, but does it in a manner not
so offensive to some of the republicans who
90 not want the word gold standard used.
Last night Representative Cannon of Hi
nois had talk with Gen Henderson be-
tore the committee met, and ii was said
that he argued against the declaration
Mr. Cannon says he is not sure that the
republicans should go so far as to take the
affirmative action to have the law declare
that gold should be the standard, and il is
also understood that members of the Sen
ate finance committee asked some time ago
that for the sake of agreement between
the committees the House members modify
that part Of their bill. But when asked
as to this point, Gen. Henderson said.
Both committees are working along the
line and have the same ideas, but Of course
there are some differences of opinion" And
this is all that Gen. Henderson would say.
Refuse to Discuss the Bill.
The members of the House committee still
refuse to discuss the bill, and 1t will not
be made public until after it is submitted
to the full republican caucus. 1t is hoped
that the republican members of the Senate
nnahce committee and the House caucus
committee will be able to have a joint
meeting tomorrow or Wednesday, to see If
some arrangement cannot be made for the
purpose of agreement On the bill. But
whether this can be done or not one thing
a hn &c hot 1, I'm
fiTmed last night will be reported to the
full republican caucus of the House on
Saturday.
Representative Faris of Indiana said to-
day that from what he could judge of the
sentiment among the republican members
of the House, 1t seemed to him likely that
the caucus financial measure would be
passed by the House before the Christmas
hnlilaIrS