New-York tribune., 1907-12-01
NO HASTE ON CURRENCY
ARE CAUTIOUS.
Financial Legislation Mast Wait
Until 1fter Holiday Recess.
Trrom Tho Tribune Bureau.


Washington Nov 30-There will be no fnan-
cal legislation before Congress takes Its holiday
recess and the Indications are that none will be
enacted for some time thereafter. although II is
generally expected that some measure or this
character will be passed before final ADJOURN
ment is taken. The leaders are all here now.
and their arrival has served to confirm the i'm
preston previously entertained that expedition
will not characterize the course OF either the
Senate or the House.
Speaker Cannon. Senator Aldrch and Chair
Fowler Of the Banking and Currency Com
nittee have had no conference but the Views OF
the Speaker and the chairman OF the Senate
Finance Committee appear be in entire ac-
cord Neither favors hasty action by Congress.
Il is argued that the present financial crisis
has been weathered and has yielded to the
measures OF relief already adopted by the ad-
ninistration: that agitation Of the question such
as would be inevitable We're a financial measure
called up for discussion in either house would
have q tendency TO retard the recovery from the
financial furry. and that, finally, an effort to
iegislate expeditously would almost inevitably
result IN the passage OF Ill advised or Ill con-
sidered measures. Under these circumstances. It
is maintained that the best progress is that
which will be made slowly.
."The Senate will act with its usual care and
less pass a carefully drawn and thoroughly con-
sfdered measure" said a prominent member Of
the Finance Committee to-day.
THE Speaker, with his unfailing good sense.
sees no occasion for hasty action. and. beyond
the possible strengthening of the Committee on
Banking and Currency. will do nothing TO hasten
financial legislation in the House. The House
will doubtless wait until the Senate has acted
said a prominent and influential member OF the
House
Reports to the effect that the Speaker would
appoint the Committee on banking and Cur
rencv in advance of the other committees proved
to be unfounded. The rumor that Senator
Aldrich was coming to Washington with pre-
pared measure which he would rush through
the Senate proved equally fallacious The Sem
stor from Rhode Island has not even mentally
ar,f.ed a financial measure OF course. he has
well defined ideas as to what legislation should
he enacted He had those year and more ago,
but saw no possibility OF the adoption OF such
measure as he deemed prudent, IN view or the
campos,tion of the House committee. which
would have to deal with 1t. Consequently, he
was Obliged to content himself with the mod
crate and tentatively remedial enactment of the
last Congress
The belief that some financial Legislation OF
uor,ed;al character will be enacted appears to
be general. Many members OF DOM hoo'e' nav
measures which they are convinced VIII prove
the salvation of the finances of the country ana
the nrospect of considerable more or less desui-
tory debate is excellent, but the leaders say
that ultimately something will be done. ana
that when 1t is done 1t will be OF character
far more creditable to the party than any hair
baked" legislation passed under the pressure OF
a rapidly passing emergency
Senator Aldrich, chairman OF the Committee
nm Finance was at the Capitol to-day, ana
spent most of the time III conference with Re-
nublican leaders on the financial situation and
legislation bearing on it. Senators Allison anu
Hale took part in the discussion. but no con-
lusions were made public