The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1903-08-14
FINANCIAL BILL
NOT YET DRAFI TED
AII-Night Conference With Presi-
dent Roosevelt
SENATORS THEN DEPARTED
INTERVIEW GIVEN OUT BY SEN
AToR ALDRICH.
SENATORS THEN DEPARTED

oyster Bay, L. l., Aug. 13.-President
Roosevelt's conference with the mem
bers of the Subcommittee of the SEN
ate finance committee was not con-
cluded until the small hours of this
morning. The whole subject of finan-
cial legislation at the approaching ses-
sion of congress was discussed thor
oughly
The committee, consisting of Sena-
tors Aldrich, chairman, Plat Comm,
Allison and Spooner did not even pre-
sent tentative draft of a currency
bill to the president, although some
presentations which subsequently may
be embodied in the measure were re-
duced to concrete form. No definite
conclusions as to the shape of the pro-
posed legislation were reported. The
conference related rather to methods
Of procedure in the work at hand
than to the form of the legislation At
1:30 this morning the members of the
committee left Sycamore Hill boarded
their yacht, the Virginia. and sailed for
Provident on their return TO Senator
Aldrich's home.
Early Extra Session.
One fact of distinct Importance was
developed at the conference. While an
extraordinary session of congress next
fall is assured, it has not been deter
mined definitely whether it will be
called to meet in October or in Novem-
Der. 1t has been supposed that the
extraordinary session would convene
on Monday. Nov. 8. but the indications
now are that it viii be called for an
earlier date, perhaps several weeks
earlier.
The primary purpose of the extraor-
binary session win be to enact legis-
lation making operative the Cuban rec
iprocity treaty, but financial legislation
also will be pressed upon the attention
OF congress soon after it convenes.
Measure Not Yet Drafted.
II can be said that the senate finance
committee will draft no measure for
mally and conclusively until consulta-
tiOns have been held with other men,
bers of the senate-Democrats as we'll
as Repubicans-and with members Of
the house and with the best authori-
ties on finance in the country. 1t is
the desire of the committee to be con
stantly in touch with the president
with other senator's, with members of
the house. with bankers of the west
as well as those of the east and with
y
ers. so that some plan of legislation
may be formed by the opening of the
extraordinary session of congress
1T is the hope of the committee to
devise a genuinely elastic currency
system-a system that will expand
when the necessity shall arise and con-
tract when the necessity shall have
ceased to exist.
Talk With Senator Aldrich.
Senator Aldrich, when asked by an
Associated Press representative with
reference 70 the visit of the senators
to the president, said:
The Republican members of the
sub cOmmittee of the senate finance
committee who recently met for an in
formal conference at Warwick. r. l..
talked with the president about finan-
cial conditions and the need of legis-
lative changes. No bill has been
drafted or agreed on and none will be
until after the fullest consultation with
our Democratic associates of the sub
committee and all the members of the
finance committee. 1t is, however. our
purpose to have a bill in readiness for
presentation to the senate at the be-
ginning of the extra session if one
shall he called in October or Novem-
Der. We are hopeful that a bill can
be agreed upon and reported that will
receive the approval OF both houses OF
congress and afford prompt and eff
cient relief to the business interests
Of the whole country"