The sun., 1903-03-16
ASSETCURRENCY PROPAGANDA
ONE or THE INFLUENCES THAT
DEFEATED ALDRICHS BILL.
Il Sends 10 Newspapers and individuals
Throushouu the Country Arguments In
Favor Of Asset Currency and Is known
as the "COmmittee OF the Inter-
national Sound Money Conference


WAsBIsoIoN, March i5.--Public men in
Washington, including officers OF the lrea-
sury Department and members of the
Financial Committees of the Senate and
House Of Representatives. have been as
tonished and somewhat mystihed at the
r,ersistent efforts to create the impression
that the people Of the United States as
mass, are intensely Interested in having
the financial laws revised, and especially
in the enactment Of plan Of asset currency.
II has been noticed that the country news
papers Of the various States have been
Allied with more or less accurate informa-
ton on financial topics. emanating from
Washington, and that the daily mail OF
Conpressmen has been burdened with
financial advice, generally based on argu-
ments in behalf Of asset currency.
This subject was being discussed in n
committee room AT the Capitol the other
day between some Of the Republican,
leaders when one Senator exclaimed;
sH is very strange that the people OF this
country should have such grasp OF the
financial question as to enable them TO tell
Congress what ought TO he done. | don
understand where they get their informa-
ton"
A colleague replied with statement
that let's in a little light on the situation.
He said:
sWhy, that is easy. Don't you know
that there is an organization III Washing
ton, maintained by contributions OF banks
throughout the country, with a stan oi
officials whose business it is to prepare
and disseminate to newspapers and to in
diyiduals throughout the United States
arguments in favor of an asset currency!
II YOU don't you don't know what is going
On under your very nose, IL is literary
bureau conducted on the plan first put into
successful practice by Samuel j. lllden
In his great political campaign Ihe
Washington organization Is known as the
Committee of the International Sound
Money Conference and its chairman Is
II. II Hanna OF Indianapolis. That COM
mittee was appointed after the Indianapolis
Sound Money Conference in 1895, and IL 10
still in existence and operating several
hours A day for seven days a week all the
year around.
.This bureau was the backbone OF the
prop aganda that resulted in the framing
OF the Fowler Currency bill by the House
Committee on Banking and Currency and
the supporters of which would have tried
70 defeat the Aldrich bill il it had
passed the Senate. Indeed they did defeat
a similar measure introduced by Repre-
tentative Payne, who had IL referred to
the Committee on Ways and Means in
order that il might be reported back
and a special rule obtained Tor It's passage
The Banking and Currency Committee
insisted on taking charge OF this bill! and
accordingly had its reference to the Ways
and Means Committee revoked. III the
Aldrich bill had passed the Senate the same
fight would have been made on 1t. although
n might have been possible TO circumvent
the advocates Of an asset currency, owing
10 the universal demand by those who
have expert knowledge OF the financial
situation for the passage OF the Aidrioh
A newspaper paragraph, which it is
generally supposed emanated from the
8anna bureau for the dissemination OF in
formation on financial questions IA now
Roing the rounds OF the press and reads
- follows:
Advocates OF credit currency legislation
are much encouraged by the fact that every
one Of the Republican members Of the House
Committee on Banking and currency o, me
OF Kentucky has been reelected TO the fifty-
eighth Congress, and but two OF the Demo-
ssa, Messrs IaY95 OF SeIs sor.h not oarCs Tanscad
II would be in the power Of SPEAKER Cannon.
OF course, to make up an entirely new com
viii do So II is believed that he will reap
point on the committee all OF the men who
have ben reslec'eq and 'no AZ al ,bn oiy yocs
cies The result OF this viii be, mat much
valuable time will he saved and II Will be
possible for the committee TO report bill 10
ihe House very soon after The session begins
That NAV be true and il may only be the
opinion Of the Hanna committee for the
dissemination Of knowledge and the other
advocates Of an asset currency. IL IL
-. faft hat IA - al
mittee on Finance will, during the recess
OF Congress- make a thorough study OF the
financial question, with view To ascer-
tanning Just what sort OF currency legls-
lation IL needed and when Congress meets
they will be prepared TO take up this ques.
tion In the hight of knowledge gained, and
,se that knowledge In connection with
the consideration ~ the credit currency
bill. which it, friends think will be passed
before the Christmas holidays The au-
thority for the proposed Investigations TO
Le made by the Finance Committee II con,
tanned in the following resolution passed
BY the Senate week or two ago
Rssoirsd. That M" committee on finance
ie. and they . are hsitos "a, sn,s26,.[sa a,6,,S ~na
make an Investigation oi Internal revenue
easioms '7lrI"ncy aud ,nihas" mater
The result tl-T.ol AID ior the plfpo-. they
are authorizes to ri, hy shb-oonhditee OF
s,herss@, dnfinr ahG 's,nss ,mss S,i ,isSss :"
he, msN d-.n advisable 10 ssid TOT i'sfsniis
sTd af,.f. ta administer oaths hud iO en-
uloy suah stsnosfa lillr aud 'lrTi'al assist
sn0. A. NAV hs ustsssHfN The sNlisuss of such
Tasesiisatlor to h" patd from The contingent
fufd ~ ihs rrnAtr
Tho diaTusslon - ~. AldTch bil duung
Ia br,.f hat lN-ly ,aiovT in tl. hHnAiu
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