The times. [volume] (Washington [D.C.]) 1897-1901, 1900-02-21
DIVIDED ON TWO POINTS
Conferees Nearing an Agreement
on the Financial Bill.
A Report Looked for as Early ns Fri
day - The Clauses Upon which
Opinions DiHcr-The House Mem
bers Expected to Make Concessions
Speculation as to Compromise.

After the adjournment OF yesterdays
meeting OF the Senate and House con-
ferees on the Currency bill. which was
taken at 3 o'clock, it was evident that an
agreement would probably be reached to-
day, and that the conference report will
be made as early as Friday OF this week.
About two days will be required to pre-
pare the report after the points of differ
ence have been settled between the con-
ferees of the two houses.
1t was learned yesterday that all but
two points of Importance had been agreed
upon. These are the clause providing that
nothing in the act shall be regarded as
preventing efforts for an international
agreement for bimetallism, and the pro-
vision that all forms Of money shall be
interchangeable. The former clause was
inserted by the Senate and the latter pre-
vision was 4 part Of the original House
bill.
Section of the House bill provides that
a reserve fund shall be used by the Secre-
tary of the Treasury lin maintaining at
all times the parity and equal value of
every dollar issued or coined by the Gov
ernment," and that "if at any time the
Secretary of the Treasury deems it neces-
sary in order to maintain the parity and
equal value of all the money OF the United
States, he may at his discretion exchange
gold coin for any other money issued by
the United States
The Senate Finance Committee struck out
this provision and substituted a provision
which declares that "all forms of money
igquPd s0inad bv ha Mi 3ata ghun
be maintained at parity of value with
this 1.-THE gold standard" This language
occurs in the first part Of Section OF the
Senate bill. In the first part Of Section =
it is provided that there shall be re-
serve fund Of $3.50. 600. 600 in gold coin, but
1t is specially provided that this fund shall
be used for the purpose only Of redeem
ing United States notes and Treasury
notes.
The House conferees declare that the
declaration of the Senate bill that all forms
of money shall be maintained at a parity
means nothing. for they say that such an
edict has nothing to sustain It, In their
opinion. 1t is necessary to have reserve
fund which shall enable the Secretary of
the Treasury to carry the law into effect
They declare that the interchangeability
OF money at all times and under all con-
ditions is an essential feature of currency
legislation, and they believe that consent
to the Senate proposition means the sac
riace OF the most vital provision of the
House bill.
The House cunfcrees arc holding out
stubbornly in their opposition to the clause
in the Senate bill which provides that
nothing In the act shall be hindrance
to efforts which may be made in the future
TO secure an international bimetalllc
agreement. The House members OF the
Conference Committee do not take the
view that this provision is harmless and
Insignificant. They assert that il will be
seized upon by the Democratic party as a
basis for saying that the Administration
was afraid to pass a gold standard bill
pure and simple and that the bimetallic
provision was Inserted to catch silver
votes. Moreover, they declare that II will
offend large number of Republicans
throughout the country who want a gold
standard bill without any modification and
without any feature which could be re-
garded as a sign OF weakness in the Re-
publican policy OF single gold standard
OF value.
Despite these strong objections of the
House conferees however the impression
was given after the meeting that an
agreement is not far distant. and that the
House members will yield the most vital
points OF difference. II any compromise
is to be made on the two principal points
mentioned the nature of the arrangement
cannot be predicted now. but the House
members are far less opposed to the Sem
ate clause regarding bimetallism than they
are to he change in the provision affect
ing the parity OF money.