New-York tribune., 1899-06-10
HONEY PLANS DISCUSSED.
MEMBERS OF THE UNITED STATES sen
ATE FINANCE COMMITTEE TALK
OVER LEGISLATION.

Six members of the Finance Committee Of the
United States Senate met at the Fifth Avenue
Hotel in this city yesterday and spent several
hours in a discussion Of methods to be followed
in preparing possible financial legislation. No
decisive action was taken except TO authorize
the chairman Of the committee to appoint sub
committees to investigate and report upon three
branches Of such legislation The committee will
have another meeting before the end Of the
summer it is understood, TO hear the reports OF
the subcommittee.
Those members Of the committee present at
the meeting yesterday Senators Nelson W.
Aldrich OF Rhode Island. chairman William b.
Allison of Iowa; julius c. Burrows of Michigan;
John p Jones, OF Nevada; Orve II. Platt OF
Connecticut. and Thomas c. Platt OF New
York The meeting held in Parlor No ~,
on the second floor of the hotel, behind closed
doors. Colonel Bright, Sergeant-at- alarms OF the
Senate, was present with Arthur Shelton, secre-
tary of the committee Senator Daniel who had
been expected to attend the meeting, sent word
that he had been detained in Virginia Six
other members OF the committee were absent.
Senator Aldrich called the meeting to order at
11:3O a. m and the discussion went on for two
hours Then the Senators took an hour for
luncheon, and in the afternoon they had another
conference lasting an hour.
When the meeting broke up in the afternoon
some Of the Senators were in hurry to catch
trains and leave the city. Senator Aldrch said
that the only decisive action taken at the meet
ing was to authorize him. as the chairman OF the
committee to appoint three sub-commttees to
investigate and report upon plans for legislation
affecting the currency, the Internal revenue
service and the customs administration. He
had not named the sub-committees, he said, and
he would not name them until he he'd consulted
with members OF the committee who were absent
from the meeting The subcommittee would
have meetings during the summer, he added, ana
their reports to the Finance Committee might
not be made until the end OF summer. he would
not omen correspondence with absent members
~ the committee until he returned to his home,
in Providence, Il. I. The time OF the committee
AT the meeting had been taken up with dis
crssion of the way the subcommittee should go
to work II was agreed. he continued that the
sub-oommttees should fix the time and place for
their meetings.
ings?" he was asked
sVeu they can II they want to-" he replied
with a smile, but It isn't likely that they will
do So" A., -
other Senator'S who were at the meeting gave
statements about the meeting similar to those
or senator Aldrich, but they would not express
opinions as to the prospect for currency legisa-
ton at the next session OF Congress. Senator
were preparing to renominate William Jennings
Bryan for the Presidency next year and keep
up the agitation for free-silver coinage.
CONGRESSMAN Babcock, Of Wisconsin, mem
ber of the Finance Committee OF the House OF
Representatives, was at the Fifth Avenue Hotel
while the Senators were In session. he said his
presence in the city had no reference to the
meeting of the Senators, as he was In New
York merely to arrange for steamship passage
10 Europe next month. He added, however
that the House report new currency legis-
lation had been submitted TO the Senate and
was In the hands of the Senate committee. II
any radical changes were made In the report
by the Senators the House comm'.se wou.a DC
obliged 10 meet again; II not, the measure
would go 10 Congress at the opening OF the
The plan OF the House committees proposed
legislation was said to be as follows:
"First-The redemption OF all obligations OF
the Government In gold on demand. Second
Greenbacks. when once redeemed for gold, can
be reissued only for gold. Third-Natonal
banks are permitted to issue notes to the par
value OF their Government bonds deposited In
the United States Treasury instead OF 30 per
cent as at present. Fourth-National banks
can begin business with a minimum capital OF
500. 600. Instead Of $4,000 as at present."