The sun. [volume] (New York [N.Y.]) 1833-1916, 1902-02-08
VOL. LXIX. NO. l6l.
TO REVISE FINANCIAL LAWS.
VIGOROUS BUT QUIET CAMPAIGN
AT THE DOORS or CONGRESS-.
The Fact Unobserved Until After Speaker
Henderson's Dinner At The Metropolis
tan club. where tho subject Was Dis
: cussed by A. u. stickney. tho Guest
of Honor, and Hugh Hanna OF Indiana.

IAN NIIDt NIttT ~ GUILTY. - hStt-
, cssed by A. II. stickncy. the Guest
of Honor, and Hugh llama OF Indiana.
WASHINGTON. Feb. lowing to the abb
snrbing interest In the controversy in the
Ways and Means Committee Of the House
and In the conference rooms Of the Senate
over the question Of tariff concessions to
CHA and in the efforts Of a certain faction
of the Republican party to attach tariff leg
islation 20 the bill repeating the internal
revenue war taxes, the fact has been almost
entirely lost sight Of that n masterful cam
paign for a revision Of the financial laws
has been inaugurated at the very doors Of
Congress. silently but in great number
the enemy has como upon the capital. and
before the Administration and it's friends
in Congress. who are anxious that there
shall be no tinkering with the financial
laws, were aware Of their approach, the
army Of financial experts had dug their
trenches. thrown up their earthworks and
bad prepared TO lay siege to the city.
The knowledge that the cohorts had ar
rived and were knocking at the gates came
10 the ears Of the rank and file yesterday.
when one or two newspapers published the
fact that Speaker Henderson had the night
before been the host at a dinner at the
Metropolitan Club, from which he had but
recently resigned, but TO which he returned
when il was discovered that his resignation
had been presented owing to a little mis-
understanding such as often happens among
club members.
The guest of honor at the dinner was A.
b. Stickney Of Milwaukee, President of the
ChicagoGreatWester RailwayCompany and
swell-known writer and speaker on financial
subjects; and the other guests were Secre-
tary OF the Treasury Shaw, Secretary Of
Agriculture Wilson, Senator Aldrich OF
Rhode Island, chairman Of the Finance
Committee; Representative Fowler Of New
Jersey, chairman of the Committee on
Banking and Currency; Representative
Hill Of Connecticut, a member Of the same
committee and also OF Coinage, Weights
and Measures: Representative Southland
Of Ohio, chairman of the last-named CON-
mittee; Representative Dalzell and Gros-
venor Of the Committee on Rules; Repre-
sentative Overstreet, who was secretary
Of the Atlantic City committee that pre-
pared and submitted a report on the gold
standard measure that bears his name;
Representatives Payne and Babcock. also
members OF lndD COU1Tlllttt. representa-
tive Cannon, chairman of the Committee
on Appropriations; Representatives Hep
burn and Smith Of Iowa. and last. but not
least. Mr.. Hugh Hanna, chairman Of the
Indianapolis Monetary Conference, which
still seems to be an active organization.
as it has permanent headquarters in this
city and never ceases it's missionary work
in behalf OF financial reforms.
Nothing was said in advance as to the
object Of this gathering Of financial lumi-
S Sis1ss. e.ess s4 9ls Ssre e speS sf,s tG
they we're seated, however, it was dis
covered that they were there to discuss
otbers things as we'll, and one of them was
the supposed reeded reforms in our cur
rency system and the best way Of educating
Congress up to the point OF making them.
After a little preliminary sparring the
oratory began, and from the very meagre
reports that can be obtained il is easy to
see that It must have been edifying and
en~lightening.
The first speaker was the guest of honor,
Mr.. Stickney, whose financial views are
well known from his writings, and par
ticularly through his recent address at Mil
waukee, at which he outlined a plan for
causing elasticity of the currency by q
system of bank credits that would create
a general reserve fund TO he drawn upon
whichever any one bank in the combina-
ton Ahould need IL. He was listened TO
pith great attention and paved tho way
for the new secretary OF the Treasury,
who. was rather brief in his remarks and
confined himself particularly TO suggest
ing various plans by which United States
funds can be placed in banks and secured
other than by a Cepos OF bonds.
Mr.. Hanna made a very extended address,
suggesting many changes in the present
law. any one of which or all of which might
H. adopted "a a means of avoiding financial
stringency. Chairman Fowler OF the Bank
ing and Currency Committee, also had
Something 10 say. He did not loosen up
10 any great extent however as he was not
inclined 10 take the gathering into his con-
fdelce with regard 10 the terms of a general
financial scheme which his COMMITTEES is now
preparing and which will soon he reported
w. the House Of Representatives. Mr.
Hin Of Connecticut and Mr.. Overstreet
pf Indiana also had some moro or less prac-
iical ideas about what Congress ought 10 do
pn this important subject, and Uncle Joe
cannon and Gen. Grosvenor let loose n few
Dratorical fireworks that were highly en-
PERTAINING, n they were not entirely per-
tinent TO the subject under discussion
When II was getting late and almost
everybody had delivered himself OF his
particular panacea for financial distress,
one of tho guests who had been rather
quiet during the evening, but whose adj
vice IL generally regarded az sound. was
called upon 10 speak, and under protest
did 80. His remarks We're very brief, how
ever, and were illustrated by the story
of a very famous man who once gave
his friend a sage piece Of advice to this
effect:
There are three subjects that YOU should
not discus too persistently. or should not
allow yourself 20 become too greatly in-
terested i~n-theology, spi~ritualism and
finance. Men have been known 10 get
paresis from thinking and talking too much
on these subjects. .
After this Il was thought to lie high time
that the meeting should break up, and IL
did 80. The matter in hand was not
dropped, however. and Yesterday and to-
day the financial Missionaries have been
hard at work At the Senate end of the Can't
tol, conferrlng with members OF the finance
Committee and other leaders there. and i'm
pressing upon them the lessons taught
In the speeches delivered al Mr.. HendeT-
sons dinner. Mr.. Hanna has been par
ticulariy busy In urging his views and
those Of the other officers in the army
OF financial reform upon the Senators,
and yesterday he had a long conferences
with Senators Aldnch and Allison OF the
Finance Committee.
10 Tn SUN correspondent Mr. Hanna
sald to-day that the House COMMITTEES on
Banking and Currency would soon repou
= I'm -Na-N l. Ma