The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-12-03
SENATE FINANCIAL BILL.
1t Was Discussed by the Committee and
Secretary Gage.
IT WILL PROVIDE FOR A GOLD STANDARD
There VIII BE Difference from the
House Bill, but Covering the
Same Important Points.
IT WILL PROVIDE FOR A GOLD S1ANDAR

| Washington, December 2.-The repub-
lican members of the senate commi. ZEE on
finance met at the room of that commiS tee
today in accordance with The call OF tie
chairman, Senator Aldrlch, to conziler a
financial bill to be presented at The ap-
preaching session of congress. There were
present Senators Aldrich, Allison, Plat OF
Connecticut, Wolcott and Burrows, Mr..
Plat OF New York being ethe only ab.
sentee Secretary Gage appeared before
the committe and was in consul alton with
the members until after ] o'clock. He
went over the general situation with them,
making various recommendations as to
the details Of the measure to be intro
duced. One of the points discussed was
the advlsability of general refunding OF
the bonded debt of the country at lower
rate of interest than now prevailing. The
indications are that feature of this kind
will be incorporated IN the senate bill.
1t can be definitely stated that the senate
measure will make provision for the main
tenance of the gold standard II Is also
quite definitely understood that the senate
bill will be an entirely different measure
from that prepared by the house repub-
lican caucus committee. 1t will neces-
sarily cover much of the same grouni
but will differ from the house bill in
phraseology and detail and cover me
points not included in that measure. This
difference VIII have the effect OF requiring
conference committee to settle the diff
ferences in case both bills are passed each
by its respective house.
The proposition to refund the outstand-
ing per cent bonds of 1907 AMI the IS
OF 1904 was gone over at some lang at
today's conference. Secretary Gage, it is
understood. has had this subject under
consideration. and it Is learned that mis-
views practically agree with those enter
tained by the COMMITTEES. Tho proposition
involves at least two amendments to the
Na'icnal barking act. One is to reduce
the circulation tax from to " of per
cent and the other authorizes tie issue Of
circulation of National banks up to the
par value of bonds deposited. There are
nov outstanding of the per cents due in
1904 about s9O.00O.oO0 aud of ms As due
in 1907 about S545 .00n,O ono, taking into ac-
count those purchased by the government
under the secretary's recent offcr, making
total cf $685., 100000 which are payahls
within the next seven years. The mem
her5 OF the senate finance committee are
OF the opinion, which is fully shared by
the secretary OF the treasury. that these
bonds could be refunded for others run
ning for long period Of tlms. oearl,y q
per cent interest and Il is believed that
a proposition of this kind will be incoruor
ated in the senate bill before It is intro.
duned
The members OF the committee refused
70 give ont any details concerning the
Dill which Is to be introduced. All other i
members referred inouirers to Chairra, |
Aldrich, who stated that the bill would |
not be made public until introdrrad in |
the senate. He would only saw FIAT the
senate would have an independent meas |
nre. not basing its action upon the house |
bill and that II probably would be in |
PRODUCED on the first dav next week, prob |
ahlv Wednesday. To this statement he |
ADDED the one remark that the bill would |
probably not be more satisfactory to the
opposition than the house bill.
Speaking Of the probability OF early
consideration OF the bill in the senate, Mr.. |
Aldrich said no decision had vet been
resched as to whether the bill would be |
taken up Immediately or the date post
poned after the house should art upon |
It's measure. He was OF the opinion. how |
ever, that the latter course would be pur-
sued. He thought there would be no |
hlihustering on the part OF the oppose !
tion to defeat the bill and that there
would be therefore no necessity tnr a |
change Of the rules. Possibly a months |
time would be required to debate the (
bin. the disposition being to allow amoIe I
time hut Mr.. Aldrch had no doubt that |
In the end the bill would be psssed.