Arizona republican., 1899-02-25
MONETARY REFORM
Committee Appointed 10
 Look Affer If.
Believed Thai a Bill Satisfactory 10 All Factions of inc Republican Party Can Be Presented 10 inc Next Congress.

Washington, Feb. 24.-It is evident
 that the republican caucus committee
 appointed by General Grosvenor TO look after monetary questions and cur
 rency bills will not shirk it's duties, but
 will take up the question of currency
 reform at once and see if the way can
 not be prepared for legislation by the
 next congress. General GrOsvenor ap-
 pointed on that committee thirteen members of the present house who
 were reelected to the Fifty-sixth con-
 gress. and selected a number of lead- CTS who will have influence and interest in bringing about the desired legisla- ton.
 The cahirman of the caucus committee is General Henderson of
 Iowa, at present on the committee of rules. John Dalzell, of the ways and means committee and Sereno E. Payne, chairman of that committee are also on the committee as well as Representative Babcocll, who was chairman of the congressional cam paign committed MT. Babc-ck has knowle Ege from his work during the last campaign as to what is needed by sound money advocates. He knows that those connected with the none tary conference at Indianapolis d1G much to rescue the next house from the free silverites, and that had it not
 been for the work of gold democrats in certain states the President. might have had a house opposed to sound money. With such men composing the caucus committee, there is every hopa they will report to the next house measure which will place the currency on a basis above criticism.
 It is expected that the committee will meet next week to organize for work If congress is not called in ex- tra session, it is thought the commltte} will have frequent meetings during the recess, and consider the numersus biIij before congress advocating currency reform. There were four bills report ed to the house, from which the caucus committee can get suggestions. These
 bills have been reported by the bank ing and currency and the coinage, weights and measure committees, and are known as the McCleary bill, which was withdrawn on account of a tech nicality in a vote reporting it to the house. and the Hill bill, substantially the one drafted by the monetary con ference in respect to all features eX cept that of banking. The third is the Brosius bill which authorizes the rais- ing of circulation to the par value of bonds deposited by small banks, and the fourth is the Mitchell bill, which establishes a division of issue and re demption, and which is supposed to do away with " the endless chain"
 Speaking about the work of the eau GUS committee, a prominent financier and student of monetary questions said the caucus committee had every opportunity to report a bill which would unite all factions in congress anxious to secure a sound currency and proper legislation which would Ob- viate further necessity for legislation for years to come. He said that by a combination of the bills the caucus committee could draft a measure to contain the three propositions, which would meet the approval Of the next congress. These were. first, the es- tablishment of the gold standard; sec Ond the cancellation of the green backs, and, third, the expansion of circulation of the currency by well se- cured bank note currency redeemable in gold on demand.