Evening star., 1903-08-13
DISCUSSED FINANCE
SENATE SUBCOMMITTEE CoNFERS
WITH PRESIDENT.
Preliminary to Draft Of q Bill to H
introduced at Extra
Session

A dispatch from Oyster Bay. n. Y, yes
terday says: President Roosevelt has as
his guests tonight at Sycamore Hill tho
members of the subcommittee of tho Sem
ate committee on finance. which Is engaged
in drafting currency measure to be sub
mitted to Congress next fall. The subcom-
mittee consists of Senators Aldrich of
Rhode Island, chairman: Platt Of Connec-
ticut Allison of Iowa and Spooner of Wis
consin.
Prior to the adjournment of Congress last
spring this subcommittee was appointed
and authorized to sit during the recess of
Congress to study the financial situation
and prepare a measure to meet the require
mentS OF the situation as the committee
viewed Ii for Introduction when the Senate
should recouvene. On this work the COM
mittee, sometimes individuals. part of
the time as a body. has been engaged dur
ing the greater part of the summer. For
a day or two the members have been the
guests Of Senator Aldrich at mis- Warwick
residence. near Providence. They are pre-
pairing now to put into concrete form the
results of their investigation and labor.
Desiring to consult with President Rooso-
welt regarding the work. the subcommittee
came to Oyster Bay late tbs afternoon.
The senators arrived off Sycamore Hill at
5:35 o'clock in the steam yacht Virginia
of New York, owned by son OF the late
Gov. Flower. From a launch they landed
at the ]. West Roosevelt pier. and were
conducted to the Presidents home The
distinguished party dined with the Presi-
dent and Mrs. Roosevelt at 7:30 O'Clock.
When they landed Senator Spooner, who
was delegated by his colleagues as Spokes-
man of the party, said that they had come
to see the President and consult. with him
on a number of matters" but he was un-
communicative regarding the real subject
of the conference 1t could not be aScer-
tained definitely whether draft of a cur
" had haap plada and
be discussed tonight or not; but as the
senators have been engaged for two days
at Warwick with their clerks and stenog-
raphers. 1t is reasonably certain that some
progress has been made toward the prep
aration Of a currency bill.
The object of the committee Is to ascer-
tain the views of President Roosevelt with
definiteness in order IL possible. to meet
them In the framing of the measure. 1t is
understood to be the desire of all. including
the President. that the bill should be ready
for Introduction at the extraordinary ses-
sion which the President has announced ne
will call for Monday. November o. Prior to
that time the subcommittee will submit It's
draft to the proposed measure to tbs fuii
republican membership Of the Senate
committee on finance, and probably to such
other republican senators as may be ac-
cessfble. 1t Is hoped that a measure may
be drawn that will meet the approval OF All
republican senators SO that when it Is In
troduced 1t may have the undivided party
support.
1t can be said that the President IS not
welded to any particular plan of currency
reform. so-called. but desires simply that a
practical scheme be evolved and put into
the form of legislation at an early date
that will render the currency system of the
country the more elastic and the less likely
to be affected by the fluctuations of values
or the demands for money at crop-movins
seasons. In a general way his ideas have
been presented in some Of his speeches
during recent months Along the lines indi-
Gated the conference of tonight proceeded
It is said to be quite unlikely that any
definite Information concerning the work OF
the subcommittee already accom- plished VIII
be given to the public at this time.