Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1903-08-07
Senate Subcommittee Meets to
Draft a Measure For Next
Congress
ALDRlcH AND ALLISON READY
Will Begin Work With the Other Men,
bers, Spooner and Plat, of Wiscon-
sin-BilI to be introduced First Day
of the Next Session of Congress.

Providence, r. l., Aug 7.-Members
of the subcommittee OF the United
States senate committee on finance are
at Warwick Neck. the summer home OF
Senator Aldrich. to begin the work OF
framing currency BIZ! to be intro
duced on the first day OF the extra ses-
sion of congress, which is to assemble
on Nov. 8.
Senator Aldrich is chairman of the
subcommittee. OF the other members,
Allison of Iowa and Plat of Connect
cut are here, and Spooner of Wisconsin
will arrive in a day or two.
In discussing the visit of the mem
bers of the subcommittee Senator AL
dnch said yesterday that no formal
meeting would be held, but the finance
question would be discussed informally
whenever it could be conveniently done
curing the visitors stay.
An informal statement of the views
OF the members of the subcommittee
was given out last night by friend of
the senator. 1t was as follows:
What form the currency measure
will take remains to be determined. No
bib as yet has been drawn, even in the
rough. 1t is an open secret, however,
that the subcommittee is DESTROYS OF
embodying in the proposed measure the
chief features Of the Aidrich BILL which
failed 10 pass the senate at its last reg
ular session.
This measure. strictly speaking, was
not a currency measure. as it did not
purpose in any way 20 increase the
volume OF currency. 1t affected the cur
rency only indirectly, IN the sense OF
increasing its extent by obviatirS the
locking up of the governments customs
receipts in the national treasury.
I'm general way it may be said UNI
reservedly that whatever action the
subcommittee may take in the direc-
ton of remedying treasury conditions
will be conservative. The composition
of the subcommittee itself guarantees
whatever remedy it suggests Will be
simple. In fact, the members of the
subcommittee consider of prime i'm
portance the necessity of withstandirg
demands for radical action of any kind.
1t is realized that the present unsatis-
factory condition in Wall street may
be brought to bear upon congress IN
favor al all sorts OF radical 'deme-
dies
The subcommittee does not trace Its
present Generalization of the stock
market to defects in the currency. They
look upon the situation as the newt
able reaction from inflated values and
one that can not, in their opinion, be
remedied by tinkering with the cur
rency system Of the country at large.
The subcommittee, therefore, wishes
to avoid any action designed to meet
the present temporary conditions
What 1t seeks is a conservative plan
Of action which will meet future as
we'll as present needs. With this OBJ
ject in view, the committee purposes
to go over the ground carefully before
embodying it's conclusions in a bill.
Considerable time necessarily must
elapse before the terms of the measure
will be in shape to be announced. The
subcommittee naturally desires har-
monious action with the house and is
hopeful that the measure to be pre-
sented in the senate at the extra ses-
sion will prove acceptable to the house.
For the present, however, it intends
to proceed independently OF the CO.
ordinate branch of congress-