The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-02-03
Committees to Meet During the Sum-
mer and Make Recommendations at
Opening of Next Congress.
SPEECH BY JOSEPH G. CANNON
IN FAVOR OF LETTING PROSPERITY
CURE OUR FINANCIAL ILLS.
Views Of Mr.. H. H. Hanna on the Ac-
tiOn OF the Caucus and What VIII
VIII Probably BE Done.

WASHINGTON, Feb. 2.-The Republican
members of the House of Representatives
met in caucus at o'clock tonight to de-
termine on a course of action in regard to
framing financial legislation. The meeting
was well attended. most of the prominent
figures on the Republican side of the cham
ber being present These included Chair
man Payne, of the ways and means commit
tee. and Messrs. Grosvenor, Henderson,
Hopkins, Steele, Cannon, Walker, Brosius
Stone, Hepburn, Tawney, Evans, Grout,
Hill, Prince, COrliss, Bennett and the rank
and file of the Republican membership.
Speaker Reed did not attend, having prev
iously made another engagement. General
GrOsvenor, chairman of the caucus, presided
and Mr.. Bennett, of New York, was chosen
as secretary to succeed Mr.. Hooker, re-
signed. Representative Henderson, of Iowa,
presented the following resolution, which
served as a text for all the discussion Of
the evening:
Resolved, That a committee Of eleven
members of the present House of Repre-
sentatives, who are members of the Fifty
sixth Congress, shall be appointed by the
chairman Of this caucus for the purpose of
considering monetary legislation and sub
mitting their recommendations to Repub-
lican caucus at the first session of the Fifty
sixth Congress, with authority to confer
with like committee from the Senate"
The discussion on this resolution proceeded
with much animation for more than an hour.
Those who spoke were Messrs. Henderson,
Tawney, Cannon, Walker, Payne and Hep
burn. There was but little difference of
opinion on the main point that it would be
futile to attempt financial legislation at this
late day in the present session. Mr.. Hender-
son made a strong speech in support of the
plan embodied in his resolution and pointed
out the advantage of having this important
subject committed to a body serving both in
this Congress and the next, and representing
the various sections of the country, and, as
far as possible, it's diverse business and
economic interests.
Mr. Cannon, of Illinois, questioned the wis
dom of the resolution, although, he said, he
would not oppose it with his vote. He ex-
pressed the strong belief, however that the
present prosperity of the country made it
inexpedient to enter on financial discussions
He particularly referred to the enormous ex-
ports in recent months and the great money
balance in our favor. This, he thought,
showed such a healthy economic condition
that it should be left alone. Mr.. Cannon
said he did not think any financial legisla-
tion could be carried through until after the
next presidential election.
Mr.. Payne, the recently-appOinted chair
man of the ways and means committee, did
not coincide with Mr.. CannOn's objections,
and strongly favored the proposed plan of
committing the entire financial subject to
caucus committee. 1t would permit care
full consideration of the question during the
coming months and the preparation of such
a well-matured plan as would commend it
self on all hands. Mr.. Payne expressed the
belief that such a measure, conservative
and intelligent, could be passed very early
in the next session of Congress- and prob
ably during the winter months.
The other speeches were substantially
along the same line, general adherence be-
ing given to the plan OIL caucus commit
tee representing all sections and interests.
This it was pointed out, would be no re-
strction on the regular House committees,
which deal with banking and currency and
with coinage as such committees end with
the session, while the caucus committee,
being made up of reelected members, could
pursue its labors without reference to the
close of the session. Moreover, it was
from such embarrassmentS as arise between
the several House committees having cog
nizance of different branches of the fnan-
cial question.
When the vote was taken it was little
short of unanimous, namely-yeas 80, nays
4. The chairman announced that the names
of the members of the new finance commit
tee would not be announced at present, as
some time would be required to learn the
wishes of members concerning the hard
work likely to be involved in this service,
and also to make up a strong organization,
thoroughly representative in character At