Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1907-12-24
Currency
Reform
SENATORS CONFER WITH PRRsI
DENT ON MAKING CHANGE
AND REFORM

DENT ON MAKING CHANGE
AND REFORM
WASHINGTON, ID. c., Dec. i.--The
correspondent of the New York World
writes his paper as follows:
A step was taken tonight in the
direction of currency reform legisla-
ton. Senators Aldrich, Allison and
Hale, the three men who will approve
and make possible any remedial en-
actment by this Congress, assembled
at the residence of Senator Hale this
afternoon, took dinner together and
dis, ussed existing conditions until Il
late hour.
No definite conclusion was reached
except to proceed carefully and post
pone any exhibition of activity until
after the holiday recess.
The entire scheme of currency re-
form was considered, all possibilities
were carefully weighed and a deci-
sion was reached that some measure
Of rectification must be adopted at
| this session.
But that there will be no currency
| legislation until late in the session, IL
at all, was shown in the action OF
the House Committee on Banking
and Currency today. After spending
two hours in discussion of the pres
ent financial conditions and the vari-
Gus methods of relief offered in the
thirty or more bills introduced in the
first two days of the session, 1t was
decided to authorize Chairman Fowl
cr to appoint subcommittee Of
| live, including himself, to inspect
the measures already presented and
referred to the committee, and draw
up currency bill for presentation
to the House.
Only Bluff
| After this bill Is drafted public
| hearings are to be held, and experts
and others with suggestions to offer
are to be summoned from all parts of
the country. or course these hear
ings are unnecessary. They are only
a part of the plan of the Speaker and
Mr.. DalZell to prevent any primary
action on this important subject In
the House. The notice sfven by the
majority OF the Committee on Rules
to the Senate leaders that 1t is up to
them to take the initiative is still in
force.
| Democratic Senators today eyinced
4 disposition to bring the financial
situation up for discussion without
any reference to the Republican
agreement to make haste slowly. The
| foundation was laid for debate, and
| speeches will doubtless be made on
| this subject tomorrow unless the Re-
publican leaders permit resolutions
requesting all kinds of information
to be adopted by unanimous consent.
| Senator Clay took the initiative by
offering a resolution calling on the
Secretary of the Treasury to Inform
the Senate of the name of each and
every bank designated MS n Govern
ment depository, with the amount OF
money deposited during the year
1907, and the total amount of mon
ey deposited in each bank by States
| during the same time" The resolu-
ton also calls for the surplus in the
treasury, the working balance, the
present amount of the national debt
and the rate of interest being paid
on it,
Later in the afternoon Senator
/ Cumberson offered two resolutions.
The first calls on the Secretary of the
Treasury to advise the Senate of the
total number of national banks in
operation in each State and Territor-
les, with the aggregate capital stock
and of the total amount of Govern
ment money on deposit in each bank
en- Oct. | and Nov. IS, 1907. The 9TH
or requests the Secretary of the
Treasury to inform the senate what
amount of the S50,000,000 in Pan
anna bonds and 500, 100000 certiti-
Gates of Indebtedness have been is
sued, and to whom awarded. Both
resolutions went over.
1t developed today that the Presi'
dent is extremely anxious to approve
any measure which Republican Sen
ators may devise. He wants to be IN
with the solution of the problem
whatever II may be, and it was fol
this that he requested Senators Aid
rlcn and Crane to confer with him al
the White House last night.
Central National Bank"
Senator Hansbrough today intro
duced his bill TO create centra
tank of issue. The bill provides fol
Z the establishment of the Central Ma
tionpl Bank of the United States,
, to be located at Chicago, with a cap
> ital of not to exceed ten per cent
of the aggregate capital of all thu
national banks, the stock to be helt
! by national banks and to be non
transferable and non-assignable.
The bank is to be under the direc
ton of a general council of twenty
one members, sixteen of them to b.
selected by districts organized in pro