New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-02-23
AGREEMENT ON GOLD BILL.
SETTLE MOST OF THE
IMPORTANT POINTS AT ISSUE.

Washington. Feb 22.-The Republican confer
rees on the Currency BILL after being in session
seven hours to-day, practically completed their
work. full agreement having been reached on all
the points at issue except the Senate amend
ment relating to the refundng of the bonded
debt and the international bimetalIc clause, and
on these the outlook was that a satisfactory
rangement would be reached tomorrow. The
concurrence was so complete that the Senate
conferrees prepared to call in the Democratic
members, but the House Republcans-Messrs.
Brosius and Overstreet-were not quite ready for
this step, indicating a purpose TO continue their
insistence on the two questions still open.
THE GOLD STANDARD PROVISION
Already. however. most Of the important ques-
tions have been disposed of. The language by
which the gold standard IS established proved
less difficult to adjust than at first antici-
pated. While the provisions in the House and
Senate bills were the same in principle they
differed entirely in wording. and after some
consideration the Senate provision commended
itself to the conferrees of both houses. This
provision doubtless will be a part of the final
agreement, and is as follows:
That the dollar consisting of twenty-five and
eight-tenths grains of gold nine-tenths fine
shall, established by Section 3.511 of the Re
vised Statutes of the United States. continue to
be the standard unit of value and all forms of
money issued or coined by the United States
shall be maintained at a parity of value with
this standard; and United States notes and
Treasury notes issued under the Act of July IA,
1890, when presented to the Treasury for re-
demptiOn shall be redeemed in gold coin OF SUCH
standard.
GOLD RESERVE QUESTION SETTLED.
The difference as to the maintenance of a gold
reserve also speedily and satisfactorily ad-
justed. The Senate provision calls for re-
serve of S150000OO0 while the House provision
did not fix definite sum, but made the reserve
% per cent of outstanding notes. On this ques-
tion, also, the Senate provision met with most
favor because of it's def1niteness.
The House cOnferrees insisted however, that
the Senate section be changed so to provide
for a Division of Issue and Redemption in the
Treasury, originally provided in the
House section relating to a gold reserve. The
purpose of this Issue and Redemption Division
is to keep the fiscal and the banking features
of the Treasury entirely distinct 1t is under
stood that this feature and the Senate provision
on the gold reserve will be Incorporated in the
final settlement.
THE BANKING FEATURES.
An agreement has also been reached on the
provision for National banks with small cap
ital and also for the issue of bank note circu-
laton up to the par value of bonds deposited.
The agreement on the issue of United States
notes of small denomination was a compromise
The Senate provided that notes should be
issued below SO but the House conferrees in
small bills. 1t finally arranged to do away
with the limitation of SO. and to provide that
the small notes of So and under should be kept
up 10 the volume in circulation, which is
$39o.000, 600.
MAY COMPROMISE ON REFUNDING.
The important question OF the refunding pro-
vision of the Senate bill proved more difficult to
settle and up to the close of the conference to-
night actual agreement had been reached,
although compromise was in sight. The House
made no provision for refunding the debt and
under the circumstances the House conferrees
felt that If they were to accept such impor-
tant provision as the Senate had incorporated in
the bill they should have part in framing it.
Instead. therefore, of accepting the Senate pro-
vision as whole, a new form prepared,
and this is likely TO be the basis of the compro-
mise. 1t retains the principle of refundng, but
makes a considerable alteration in the original
phraseology.
Another difficult question has been the Sen
ate provision to international bimetallc
conference. The House cOnferrees have been
unwilling to accept this. and up to tonight they
had declined to yield although the chances
seemed rather more favorable to its retention
than it's rejection.