The Montgomery advertiser., 1907-11-05
 WITH CABINET President Seeks Advice
 on Finance. CURRENCY REFORM QUESTION Former Secretary Shaw's Plan
 May Be Adopted.
 - According to This Pian. Natioasi Banks sAouid Be Permitted to Issue z rr"porsion of Capital in

Washington, Nov 4-From on au- thoritative source, 1t Is learned that the President is consulting with the ir- dividual members of his cabinet who have had special experience in larea financial questions. respecting the lea- tsiation to be recommended to Con- gress st It's approaching session reiaf-E ing to currency reform.
 Of course, the Secretary of the Treas. ury has taken the leading part in the conference. but 1t ia also learned that the President is not declining advice from any other promising quarter and he has spent many hours recently in discussing this important subject. these conferences taking place at night as well as in the day time. and in fact any opportune moreet
 The diecussion So. far has served to bring about the conviction that 1t will be difficult to get any beneficial IeRis- tation Of this character through Con- gress quickly, and that was one of the reasons why the President did not agree with the great interests which recently appealed to him to call as. extra session of Congress immediatelv. to deal with the finances of the couIs try Notwithstanding the present great stress to which the existing bank system, as well as the corelatiye sys tenn are being subjected by cnrreaaes stringency. it ts feared that some tint must eiapse before the divers views esi. tertained by many paopIe--bankerm merchants. law giyers and coIIene pro fessors--can be fused into one practt. cable and effective measure of relief.
 1t was felt that so great was thS task that little substantial gain ,vo1,ls1 be afforded by gathering co5rress n special session. . fortnight. before ths beginning of the regular session. Tf may be stated that such sftdv a3 tha President and his consfitntionaI ad- visers have been able to Rive to the multitude of projected currency bslIk has left them under the conviction fhat after aii. none of them fs more nroIsl- < .slng, or stands better opportunity eg securing the approval of rsaneNs4a. than the parttcliar rilsasnra ,sssfT VI s*' Dy the President in his last lf16ssa assl ject.
 That was the plan conanon,v ascrssa.s to Secretary Shaw. which the .press desl stated had its essential feafurer an prayed by many prominent bankers and ton of the measure sa hrfef. but coss,. prehenatve, for he safds
 According to this plan, national banks should be permitted to issus specified proportion of their capital in notes of given kind. the Issue to he taxed at as high a rate as to derIve the notes back when not wanted in Legitimate trade. This plan would not permit the issue Of currency to give banks additional pronts. but to. meet the emergency presented hy times Of stringencJ."
 It Is possible that in the four .wesIxa intervening before the assembling Of the sixtieth congress. the Prestdent may conclude to adopt some other plan. or to amplify and work out tka details of this means of obtaining caIx- rency. but if he remains in his pres- ent turn of mind. 1t is believed that ka will feel obliged to recur to the orig inal and simple Shaw plan.
 After an interview with the Praai- dent today, Representative Waldo, oz Brooklyn. member of ths House Cont mIttee on Banking and Currency, gave 1t as his belief that much attention win be given to financial conditions in the coming session of Congress. What the particular aim of the administration of this connection would be. he waf unable to state.