Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1903-08-14
NOT YET DRAFTED
Still at Work Formulating a
New Currency Bill.
Will Be Ready for Extra Session OF
Congress, Next Fall.
All Parties and Leading Financiers to
Be Consulted.

Oyster Bay, n. Y, Aug. 13.-President
Roosevelts conference with the MEM
bers of the Subcommittee of the
Senate finance committee was not con-
Guided until the small hours of this
morning. The whole subject of tinan-
ciaI legislation at the approaching
session of Congress was discussed
thoroughly.
Serious consideration was also given
to the legislation to be proposed to
| Congress in approval of the Cuban reel
procity treaty ratified by the Senate,
| last spring.
The committee, consisting of Senators
Aldrich, Chairman, Platt Comm, ALI
son and Spooner, did not present even
tentative draft of a currency bill to
| the President although some PROPOSE
| tons, which subsequently may be en-
! bodied in the measure were reduced to
concrete form. No definite conclusions
as to the shape of the proposed legis-
! lation were reached. The conference
reuated rather to methods of procedure
| in the work at hand than to the form
of the legislation. At 73O o'clock, this
morning, the members of the committee
| left Sycamore Hill boarded their yacht,
the Vergena, and sailed for Providence,
| on their return to Senator AldriCh's
/ home.
| One fact of distinct Importance was
| developed at the conference. While an
extraordinary session of Congress, this
/ fall, is assured it has not been deter
mined definitely whether it will be
called to meet in October or in NoVem-
i Der. 1t has been supposed that the ex-
| traOrdinary session would convene.
/ Nov. Q, but the indications now are that
, it will be called for an earlier date,
| perhaps several weeks earlier. The
primary purpose of the extraordinary
session will be to enact legislation max
! ing operative the Cuban reciprocity
! treaty, but financial legislation also will
he pressed upon the attention of Con-
gress soon after it convenes.
| Three of the senator's present at last
nights conference are members of the
Senate committee on relations with
Cuba--Platt, the chairman, Aldrich and
Spoorer. All of them, particularly Mr..
! Plat. who has made a profound study
of the situation in Cuba, regard the
necessity for the enactment of the
Cuban treaty legislation as urgent.
President Roosevelt entertains the
same view. 1t is understood that the
! suggestion of an extraordinary session
! of Congress at a date earlier than Nov.
J 9, was made by these senators because
of urgency of the Cuban legislation.
1t was pointed out, too, that if Con-
gross We're convened at an early date,
the entire work of the extraordinary
and regular session could be cleared by
the time the national conventions are
! to be held, next year. On many ac-
counts this is regarded as desirable and
| it would be a great convenience not
| only to the President but also to menu
bers Of both the Senate and the House.
1t can be said that the Senate finance
committee will draft no measure formally
land conclusively until consultations have
ISenate-DemocratS as well aSRepublcanS
with members of the House and with
| the best authorities on finance in the
country. 1t is the desire of the commit
I tee to be constantly in touch with the
| President and other senator's. with the
members of the House and with bankers,
SO that some plan of legislation may be
| formulated by the opening of the extra
| ordinary session of Congress.
! 1t is the hope of tie committee to de
| wise a genuinely elastic currency system
la system that will expand when the ne
ccSSty arises and contract when the ne
1ccssity shall have ceased to exist The
members of the committee realize fully
| the difficulty of their work but il is their
/ desire to prepare a measure that will
commend itself to to the best Judgment of
the country, the judgment of Democrats
las well as of Republicans.
| TC this end, it can be said all schemes
jof financial legislation heretofore pro-
posed have been Subordnated What the
proposed legislation will be when it is de
cided cannot he said at this time The
suggestions have been made are regarded
/ by the committee as purely tentative; be-
lcause differences of opinion exist between
members of the Senate and members of
| the House which must be resolved before
| a definite plan for currency legislation
| can be made with reasonable hope that it
will crystaize into law.
| Senator A!drich, when asked by an AS
ISOLATED Press representative with refer
| ence to the visit of the senators to the
| President. said:
THE Republican members of the sub
committee Of the Senate finance commit
tee who recently met for an informal con
ference at Warwick r. t. talked with
the President about financial conditions
and the need of legislative changes No
bill has been drafted or agreed upon and
Continued on page 2.)