Evening star. [volume] (Washington, D.C.) 1854-1972, 1901-10-14
REPRESENTATIVE 0Verstreet VIII Push
His Measure.
TREASURY SURPLUS NOT A MENACE
Some Reduction in Taxation is
Desirable.
CONFERRED WITH PRESIDENT

Representative Oyerstreet of Indiana Is
in the city today. and In conversation with
a Star reporter discussed the financial bill
which he will push in the coming session
of Congress. He thinks the bill has excel
lent chances Of passage by this Congress,
and is encouraged to look for early favor
able action by the House.
Ii is the same bill presented in the last
session which was reported favorably by
the House committee ON banking and cur
rency. 1t will be introduced in it's old FORM
The BILL in brief makes the silver dollar
exchangeable for gold, in conformity with
the present parity clause of the gold stand
ard law. and as Mr.. Overstreet says. to
more clearly establish that parity. The
bill permits the burden for such exchanged
bility TO rest upon the reserve fund of the
treasury in the same manner in which the
greenbacks now rest upon the reserve
This provision has been considered to be
in complete harmony with the gold stand
ard act" said Mr.. Overstreet but thus
far has been kept out by some who doubted
the policy. not its wisdom.
The bill which 1 advocate would make
absolute the gold standard act and settle
all questions in connection with 1t for all
time
81 regard the prospects for the passage
of the bill as good. Every day demon
Strates the wisdom of the gold standard
law. and the people are convinced that IL
not do too much to make 1t secure.
Surplus No Menace.
Mr.. Overstreet was asked whether he
considered the present large surplus in the
treasury in any way a menace to the ffnan-
cial situation.
by no means" he answered 81 am
glad we have the surplus and am not one
of those in hurry to spend 1t. The coun-
try in 1884 became worried over surplus
and made change of administration That
source of worry was promptly removed,
however, as the people well remember to
their cost.
Il do think however, that the surplus
points to the desirabiiity of some changes
In the taxation. / favored at the last ses-
sion greater reduction of the war revenues,
and thought that S5e,OG0,O00 reduction was
not too much. We may find it advisable to
make further reductions in internal reve-
nue. taxation.
Tt may be wise also, to take off some
OF the schedules of the existing customs
tariff Understand me. not for a moment
ciples of the protective tariff. of which the
republican party has been the exponent. /
would not do anything that .savored of de-
parture from those principles
But | can see where X might be well
to reduce the tariff on articles that no
longer need high protection
steel products, for instance in line with
the Babcock bill?" he was asked.
Yes. possibly steel. 1 am in favor Of
Mr.. Babcock's idea. He does not propose
an onslaught upon the tariff by any means.
In other words. l would advocate modify
ing the tariff articles that do not need
protection. the modification to be accom-
plished without interfering with the spirit
and true intention of the republican doc
trine of protection TO American industries
Mr.. Overstreet had a conference with
President Roosevelt today upon his inan-
cial bill. = --., =
while do not care to go into Details
said Mr.. Oyerstreet. my talk with the
President was entirely satisfactory to me"
Mr.. Overstreet will return to Indiana to-
morrow and will come to Washington for
the session about November 20