The evening times., 1900-02-28
CURRENCY BILL TAKEN UP
Mr.. Aldrieh Explains the Confer
ence Report in the Senate.
The Amendments Discussed in De-
tnii-ThS Change of Standard
Styled PureIy VerbaI-Impraetica-
he 10 Keep the whole Reserve
Fstnd in 'iOId Coin-Other Features.

In the Senate thie lqorning the confer
ence report on the Currency bill was taken
up and Mr.. Aldrich. IN charge OF the bill,
made an explanation OF the report. lie
would conine his statement, he said, TO
an explanation Of such OF the provisions OF
the conference report as were amended.
The first conference amendment was
concerning the change OF standard This
was purely evrba amendment, not af-
fecting in any way the purpose Of the
original provisions. The second confer
ence amendment was adding TO the Senate
provision for parity these words. And 1t
shall be the duty Of the Secretary OF the
Treasury to maintain such parity
The bill, he said, originally contained a
most solemn and direct pledge on the part
OF the United States that that parity
should be maintained; and in his opinion,
it did impose On the Secretary OF the
Treasury without this ianguage) the
Strongest possible obligation 10 maintain
parity by all possible means. The House
cOnferees, however, were desirous that the
injunction on the Secretary should be put
into the law. in terms. and the Senate con-
ferees agreed TO
The next amSudment Mr.. AIdrich 50 id
was in section where the words and
bullion were inserted in relation TO the
reserve fund Of $50. 600 900.
II was now 10 be held in gold coin and
bullion IL had been found impracticsble
10 keep the whole amount Of the fund in
GOLD coin, the coinage capacity OF the
mints not being adequate.
4 H.. b.. .r-T.. a..
was completed that di@-ulty would be
obviated. The conference amendment was
also in section ?, which provides that the
Secretary Of the Treasury may in his dis
CTetion use notes in exchange for sold OF
purchase CT redeem any bonds Of the Uni
ted States, except that the notes redeem
ed and held for exchange shall not be
used 10 meet deficiencies in the current
revenues. The House conferees. Mr.. Al
0rich said, insisted that there was a pos
si0ility that. without that provision. the
so-calleS endless chain might be rein
sttuted.
The Senate conferces had insisted that
the point would never be reached. in TIE
history OF the reserve fund. When a sale OF
bonds TO maiutaln it would be necessary.
The committee. however. had realized that
II this point were reached the notes might
be used in case Cf a deficiency in current
revenues.
After discussion, Nr- Aldrich said the
language now in the section. had been in
serted I'm order 20 take away all possible
doubt The next amendment was in the
form OF new section (section 81. that
nothing in he act should be construed 20
affect the legal tender qualities Of the
silver dollar. or any other money coined
or issued by The United States.
i had been argued, he said. that the
deciaratiea of the gold standard took away
from the silver dollar It's legal tender
quality and tisS--esBfereuce .conferses had
thought it desilable 10 insert tka- express
provision in the act. The next conference
amendment was the insertion Of a provi-
sion In the sixth section that when ever the
gold coin iU the reserve fund shall fall aud
remain below $1C0. 5C0.Ol0 the authority TO
issue certificates shall be extended.