The Savannah morning news., 1903-08-14
NO DRAFT MADE
OF CURRENCY PLANS.
Senators, Bankers and others to BE
Consulted First.

Sehattors, bankera ana OtheFs 10 he
Consulted First.
Oyster Bay, N. Y, Aug. 1S.-Presi-
dent Roosevelt's conference with the
members of the Subcommittee of the
Senate Finance Committee was not
concluded until the small hours of this
morning. The whole subject of finan-
cial legislation at the approaching ses-
sion of Congress was discussed thor
oughly.
The committee did not present even
a tentative draft of a currency bill to
the President, although some propo-
sitions which subsequently may be
embodied i'm the measure, were reduced
to concrete form. No definite conclu-
sions as to the shape of the proposed
legislation was reached. The confer
ence related rather to methods of pro-
cedure in the work at hand than to
the form of the legislation.
One fact of distinct impor-
lance was developed at the
conference. While an extraordi-
nary session of Congress next fall
/ is assured it has not been determined
definitely whether it will be called to
meet in October or in November. 1t
has been supposed that the extraordi-
nary session would convene on Mon
day, Nov. 8, but the indications now
are that it will be called for an ear
lier date, perhaps several weeks ear
lier. -
Three of the senators present at last
nights conference are member of the
Senate Committee on Relations With
Cuba-Platt, chairman: Aldrich and
Spooner. All of them, particularly Mr..
Platt, who has made a profound study
of the situation in Cuba regard the
necessity for the enactment of the Gu
ban treaty legislation as very urgent.
President Roosevelt entertains the
same views.
1t is understood that the suggestion
of an extraordinary session of Congress
at a date earlier than Nov. was
made by these senators because of the
urgency of the Cuban legislation.
1t was pointed out. that if Congress
were 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 accounts
that is regarded as desirable and 1t
would be a great convenience, not on
ly to the President, but also to MEM
bers of both the Senate and the
House.
The primary purpose Of the extra
OTulfldTy StoStOll VIII PC W CneiNl lC6lS~
lation, mal&ng operative the Cuban
reciprocity treaty but financial legis-
lation also will be pressed upon the
attention of Congress soon after it con-
venes.
1t can be said thai the Senate FL
nance Committee willidraft no measure
formally and conclusively until con-
situations have beer held with other
members of the Senate-Democrats as
well as Republicans--with members of
the House and with the best authori-
ties on finance in the country.
1t is the desire of the committee to
be constantly in touch with the Presi-
dent, with other senators. with men,
bers of the House, with bankers of the
J West, as well as th0se of the East,
and with country bankers as we'll as
city bankers, so that some plan of Leg
islation may be formulated by the
opening of the extraordinary session of
Congress.
1t is the hope of the committee to
devise a genuinely elastic currency sys-
tem-a system that will expand when
the necessity arises, and contract when
the necessity shall have ceased to ex-
list.