The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1900-02-23
TaB FINANCE MEASURE
Which Will Be Reported by the
Senate and House Conferrees.
PROVISIONS OF THE SENATE BILL

Seem to Find Most Favor in the Re.
port Of the Conference Committee.
Differences on Clause Lea wing Loop
hole for international BimetslIisin.
Washington, Feb. 23.--The Republi-
can cunferrees on the financial bill
practically completed their work yes
terday, full agreement having been
reached on all the points at is9ie save
the senate amendment relating to the
refunding Of the bonded Indebtedness
and the international bimetallic clause,
and on these the outlook was that a
satisfactory arrangement would be
reached. The concurrence was 30 COM
plete that the senate conferrees pre-
pared to call in the Democratic mem
bers, but the house Republicans,
Messrs Brosius and Overstreet, were
not quite ready for this, indicating a
purpose to continue their insistence on
the two questions still open.
Already, however, most of the inn
portant questions have been disposed
of and complete agreement reached.
The language by which the gold stand
ard is established proved less difficult
than was at first anticipated. While
the provision in the house and senate
bills were the same in principle they
differed entirely in wording, and after
some consideration the senate provis-
ion commended itself to the conferrees
of both houses. This provision doubt
less will be part of the final agree
ment, and Ia as follows:
THAT the dollar consisting Of twenty
five and eight tenths grains of gold
nine tnths fine shall be the standard
unit of value, and all forms of money
issued or coined by the United States
shall be maintained at parity ofvalue
with this standard, and United States
notes and treasury notes issued under
the act of July IA, 1890. when presented
to the treasury for redemption shall be
redeemed in gold coin of such stand
ard" .'-.
The difference as to the maintenance
of gold reserve was also speedily and
satisfactorily adjusted. The senate
provision calls for a reserve Of definite
amount, namely, $3.50, 100000, while the
house provision did not fix definite
sum, but made the reserve rs per cent
Of outstanding notes. On this question
also the senate provision met with
most favor, because Of its definiteness.
The house conferrees insisted, how
ever, that the senate section be so
changed as to provide for division
of issue and redemption In the treas
ury, as was originally provided in the
house section relating to a gold re-
serve. The purpose of this issue and
redemption division Is to keep the
fiscal and the banking features of the
treasury entirely distinct. 1t is I'M
derstood that this feature and the SEN
ate provision on the gold reserve will
be incorporated in the final settlement.
Agreement has also been reached on
the provision for national banks with
small capital, and also for the issue
Of bank note circulation up to the par
value Of bonds deposited. The agree
ment on the issue of United States
notes of small denomination was
compromise. The senate provided that
no notes should be issued below $40.
but the house conferrees insisted that
this would cause stringency in small
bills. 1t was finally arranged to do
away with the limitation of SO, and to
provide that the small notes Of IS and
under should be kept up to the volume
now In circulation, which is about
1920. 100000.
The important question of the re-
tuning provision Of the senate bill
proved more difficult to settle, and up
to the close of last nights conference
no actual agreement had been made.
although a compromise was In sight.
The compromise retains the principle
Of refunding. but makes considerable
alteration of the original phraseology.
Another difficult question has been
tht senate provision as to an interna-
tional bimetallic conference. The
chances seem rather favorable to its
retention