The Idaho scimitar. [volume] (Boise, Idaho) 1907-1908, 1908-05-30


the 'Vreeand BILL" the so-ca11ed Williams BILL"
which represented the views of the democracy.
Mr. Williams, had refused to offer his bill a
substitute because of the action of the steering COM
mittee limiting amendments to one only The people
generally do not pay much attention to the political
tactics employed in the senate the house, in order
to put the great parties at a disadvantage. The
people take a general and comprehensive view of
the whole measure, and will do in regard to this
currency legislation.
The "Vreeland bill" was much better than the
"A1drich BILL of the senate not so good as the
Fowler bill" which was reported from the house
committee and altogether inferior to the Williams
bill" which embodied the views of the democrats.
Both the "Vreeand bill" and the "A1drch bill"
adopted asset currency That is, to say they accepted
future policy of the republican party, state
ty municipal and other bonds as basis of securities
on which bank notes could be issued. Neither of
these republican measures, the one passed by a re-
publican senate, and the other by republican house.
afforded any guarantee to the depositor of money
in banks that his money would be safe in case the
bank failed
The Fowler bill" introduced by the republican
congressman from New Jersey, who is a close STU
dent of finance recognizedthe demand that the deposi-
should be guaranteed by the government that his
money deposited in national bank would be given
him Immediately if the bank failed.
When the "Vreeland bill' reached the senate the
"A1drich b' submitted to take its place; and
the roll call Vas substituted for it. The trans
fer took place quickly and decisvely. meeting of
the senate committee on finance held in the
morning before the senate convened and it agreed to
amend the 'house BILL i. e.. the 'Vreeand bill' by
substituting the "Aldrich BILL which passed the SEN
ate several weeks ago, The senate committee made
some changes, however, in the "A1drich bill" as it
was passed By amendment the committee elimn-
ated much of the matter which was placed in the bill
by the senate during the debate the measure by
that body. The senate committee also entered sec
ton providing for nine members of each house to be
appointed by their respective presiding officers to be
called 'the national monetary commission whose
duty it shall be to inquire into and report to congress
what changes are necessary desirable in the money
system of the United States, the laws relating
banking
1t is significant and rather dismal fact to print
that all of the democratic members of the senate
finance committee, voted to support the "Adrch bP'
n preference to the "Vree1and bill" 1t is pleasing
On the other hand, to state, however, that every
democratic senator excepting four voted against the
passage of the amendment of this bill. The whole
subject of currency legislation was finally sent to
conference.
Out of the conference came compromise measure
hat analgamaton of the Aldrich and the
Vreeland bills far the two could be merged
without conflict, and orders issued to the repub
lean sides of the two branches of congress to vote
or the merger.
The house obeyed with a1acrity, adopting the con-
erence report Wednesday afternoon, after
Jour of debate, by vote of 166 to 40, nearly
arty division. At this writing Thursday morning)
is presumed that the senate republican majority
vii acniesce in action nf ho11se tao11n