The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1903-08-14
PRESIDENT TO CALL EXTRA SES
SION NOF CONGRESS EARLIER
THAN SUPPOSED.
FINANCIAL LEGISLATION NECESSARY
CENATE SUBCOMMITTEE HOLDS A
LONG CONFERENCE WITH
CHIEF EXECUTIVE.

Oyster Bay. N. Y. Aug. 14.-Presi
dent ROosevelt's conference with the
members of the subcommittee of the
senate finance committee was not con
cluded until the small hours of the
morning. The whole subject of finan
cial legislation at the approaching
session of congress was discussed
thoroughly.
The committee, consisting of Sena
tors Aldrich, chairman; Platt Conn.,
Allison and Spooner, did not present
even a tentative draft of currency
bill to the president, although some
propositions 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 reached, The
conference related rather to methods
CT procedure in the work at hand than
to the form of the legislation
One fact of distinct importance was
developed at the conference While
an extraordinary session of congress
next fall is assured it has not been de-
termined definitely whether it will be
called to meet in October or In No
vember. 1t has been supposed that
the extraordinary session would con-
vene on Monday, Nov. 3, but the indi-
cations now are that 1t will be called
for an earlier date, perhaps several
weeks earlier
The primary purpose OF the extra
ordinary session will be to enact legis-
latiOn making operative the Cuban
reciprocity treaty, but financial legis-
lation also will be pressed upon the
attention OF congress soon after 1t
COnveneS.
Further Consultations Planned.
1t can be said that the senate finance
committee will draft no measure for
mnlly and conclusively until consulta-
tions have been held with other mem
bers of the senate-Democrats as well
as Republicans-with members of the
lAOuoo with .iIS DSsrt s-o.iaoa ioi~e
finance In the country. 1t is the desire
of the committee to be constantly in
touch with the president. with other
senators, with members of the house,
with bankers of the West as well as
those of the East and with country
bankers as we'll as city bankers, so
that some plan of legislation may be
formed by the opening OF the extraor-
dinary session OF congress-
1t Is the hope of the committee to
devise q 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. Senator Aldrich, when
asked by the Associated Press reporter
with reference to the visit OF the SEN
ators to the president, said:
THE Republican members OF the
subcommittee of the senate finance
committee, who recently met for an
informal conference at Warwick, K. l.,
talked with the president about finan-
cial conditions and the need OF legis-
lative changes No bill has been draft
ed or agreed on and none will be until
after the fullest consultation with our
Democratic associates of the subcom-
mittee and all the members OF the
finance committee. 1t is, however,
our purpose to have bill in readiness
for presentation to the senate at the
beginning OF the extra session, II one
shall be called in October or Novem-
ber We are hopeful that bill can be
agreed upon and reported that Will re-
ceiye the approval of both houses OF
congress and afford prompt and EN-
cient relief to the business interests
Of the whole country"