Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-11-29
They May Be Combined in a Salts
factory Measure.
SENATOR ALLIsoN's OPINION
Thinks Congress Will Provide for an
Emergency Circulation Based on
Securities to Be Determined.

Senator Aldrich, chairman of the finance
committee, will reach Washington tomor-
row, and will Immediately go into con-
ference with republican leaders in the
Senate and House and the administration
on the subject of proposed currency leg
islation. 1t is thought there will be con-
siderable conferring before an agreement
is reached promising the passage of a
bill.
1t is the hope of the administration and
the republican leaders in Congress that
the general terms of bill can be ten
tatively agreed upon, out of court, so that
when the measure comes into Congress
1t may bid fair to receive the support Of
republicans in both houses. as a party
measure. and regardless of individual
opinions and prejudices. This hope is at
present but tender bud, and there are
those around the Capitol who think it is
destined to experience some chilling frosts
before 1t blossoms.
Howaver, it is pointed out that unless
some plan of the kind is adopted-that is,
Of making the bill a party rneasure-there
is but slight prospect of ultimate enact
ment of currency legislation. 1t Is said
that it will require nothing less than the
party bludgeon to batter a passage for
the bill through the ranks of opposing
opinions. Even then there will be some
heads, though bloody, still unbowed.
Four General Propositions.
There are four general propositions for
solving the currency problem. each OF
which has it's advocates. And the pride
of opinion when it comes to the financial
question Is simply something amazing. 1t
beats religious prejudice all hollow and
is pretty near as serious as the prohibi-
tion question. These four propositions
are, briefly, as follows:
The creation of a central bank Of issue.
A central organization of existing
banks.
The issuance of additional circulation
| against securities other, than United
states banda .s.1.', y s., ~
| The issuance of circulation upon general
assets secured by guaranteed fund.
In addition to these there are host o!
weird financial propositions more or less
populistic in nature, which sooner or later
go into the receptacle for crank bills. But
mate and weld the best features of all
into composite measure will furnish q
task for the heavyweight statesmen OF
the party. There is desire among repub-
hcans to make it a party question. 50 as
to derive credit in the next campaign.
The republican party passed the gold
standard act at time when the demo
cratic party entertained policy which
the voters of the country stamped as
financial heresy. The republicans have
never ceased to congratulate themselves
that they had the courage to fight Out
the financial question as they did.
Senator Allison's Opinion.
Senator Allison, one of the republican
leaders of the Senate. expressed the opin
ion today that bill will pass Congress
which will provide for emergency circu
lation. He did not think it would author
ize circulation based upon assets credit
but that conservative securities would bt
| required. the nature of the securities t.
be hereafter determined. Senator Allison
was inclined to be optimistic of action al
| this session of Congress.