Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1899-04-17
TO BEGIN TODAY.
Monetary Legislation Committee Is
Ready for work-WiII Outline
Reform Plan


Reform Plan.
ATLANTIC CITY. N. j.. April ls-The
committee on monetary legislation appoint-
ed at caucus Of the Republican mem
bers Of the national house of representa-
tives shortly before the adjournment of
congress will begin its sessions in this city
Tomorrow. General David B. Henderson,
OF Iowa, Is chairman. and the other mem>.
bers of the committee are as follows: John
Dafzell. Pennsylvania: Serene E. Payne.
New York; Jesse Overstreet, Indiana; Will
lam Lowering, Massachusetts,; Charles Cur.
tbs. Kansas; Page Morris, Minnesota; Eu-
gene +. Loud California; R. P. Hawley.
Iexas; j. W.-'Babcoek, Wisconsin, and
Kerr, Ohio. The committee is considered
to embody thessound financial thought OF
the Republican Side Of the House Messrs.
Henderson and Dalzeu make, with Speaker
Reed, majority of the committee on rules:
Mr.. Payne Is chairman of the committee
on ways and means. and several others are
representative business. men who are In
sympathy with the movement to nut the
monetary standard beyond attack
Hadden Hall. one of the largest hotels on
the beach front, is the headquarters of
the committee, and the meetings will be
held in one of the parlors. The gatherings
will be private and will probably be ir-
regular. The work assigned to the mem-
pers partakes more of the nature of con-
ference and as the committee is not pub
lie one. it will only give out such news for
puoHcation as best suits its purpose. It is
expected that the sessions will last not less
than two weeks, and they may extend
much longer.
Ihe committee may decide to perfect q
Dill to meet the situation, or may outline
measure and then adjourn to meet again
later in the year. They will have all of
the important bills on the currency ques-
ton that were before the last congress, in
cludinS the bill of the monetary commits
sion; the McCleary bill, which was re-
ported favorably to the house by the bank
ing committee; the Hill bill, which was
given a favorable report by the house
coinage committee; the bill prepared by
Secretary Gage, and the bill of Chairman
Walker. of the committee ON banking, who
Is no longer a member of congress.
Mr.. Overstreet, who has given the sub
ject much attention, has prepared a COM
parison of the principal features of all
these bills, which will be of much value to
the committee. There has also been Sc
cured from the treasury department
great mass of valuable financial data. in
cluding the reports Of the secretaries. comp
trollers of the currency and directors of the
at its command a complete codilieation of
the existing currency laws.
Only two or three of the members are
here tonight. but it is expected that all
will arrive by tomorrow, with the excep-
tion Of the California member, Mr. Loud,
who will defer making the trip East until
the work of the committee is we'll advanced.
1t is expected that many distinguished
hnanciers will have an opportunity to ap-
pear before the committee and present
NC nr he nf tI,A Avn
sion OF the currency, the establishment of
the gold standard and other matters to
be considered.
NJ. H. Hanna and other representatives
OF the executive comittee of the Indian
apolis monetary committee will be here
during the sessions to urge the bill of the
framed by commission of which Senator
George f. Edmunds was chairman, and
which included ex-Secretary Fairchild, of
delphia; John w. Fries. of North Carolina,
and other financial experts.
Mr.. Hanna was directed. at a meeting
urge the adoption of the entire programme
of the monetary commission, but If this
does sI not appear possible to accept modi-
ciples of the bill. These principles relate
to the enactment of the gold standard into
law, the protection of the treasury against
greater provision for greenbacks. and the
adoption of an adequate and flexible cur
rency for the future needs of the expanded
republic. 1t is said to be probable, that
each of these topics will be considered in
turn by the caucus committee, but just how
far they will go is not yet determined.
The fact that the leadership of the house
is represented In the makeup of the COM
mittee, and that its action will in a great
degree bind the Republican party, may
produce conservative tendency but the
pressure for some means of meeting cur
rency needs is being strongly felt in Wash.
ington, and the treasury officials are re-
ported as determined to urge upon the
committee the necessity of making full
provision for putting the currency on an
enduring basis.