New-York tribune., 1908-02-13
DEMOCRATS DISAGREE.
Dirided ON Currency Bill-Sendtor
Rayuer Differs from President.
From The Tribune Bureau.]

rpronl The Tribune Bureau]
Washington, Feb. 1.-THE Aldrich piii 'o-ua'
served to reveal the total disorganization oi 'io
r,,noritv Of the Senate, and incidentally to
bring a clash between two prominent Deiho
Gratis. Senator Rayner opened the debate WIN
q set sneech presumably on the Aldrich DILL al
though II covered variety of subjects. IN 50
far as could be dtscerned. the one susgestioh
contained in Mr. Rayners remarks was 'ha'
that provision contained in the orglnai Aio
rich bill which required the country pdiih
retain two-thirds instead of tWo-h1ths OIL 'iio
reserves in their own vaults In god OF ia"it"
money should be restored. It's elimination oy
the committee the Senator from MarSiaio
earnestly deprecated.
When Mr.. Rayner had concluded MT Aiui0h
asked if he desired to know why that provision
had been stricken out and receiving an aliii ii''
tive reply Mr. Aldrich said that while the ma
iortv of the committee favored it's retention 1t
had encountered such opposition from the Demo-
cratic members that Republicans had deemed II
wiser to relieve the bill of this bone or conteh-
ton and later to bring in another measure max
ing the same provision. which bill could staio
on it's own merits. Being still furtner pieSseo'
Mr. Aldrch said that the chief opposlt'oh ii0o
come from Senator Tal!aferro. Ihis Drought
retort from Mr. Talaferro. who said that before
Mr. Rayner had begun his speech ne had IN
formed the Senator from Maryland that ne hao
opnosed the provision Both Democratic Sena-
tors exhibited considerable feeling, and Mr.. Aio-
rich made profound apology for thus revealing
the attitude of members Of the committee.
In the course of his speech Mr. Rayner said OF
the President:
Now say, with great Difference ana ,hat hespff.s b
President Of the United States has also win the the
best Intentions unconsciously contrlputeo 10 t.e
fort hat IA
him in that warfare that he Is wagms nrs agiAo Of
the the peop He or cannot T be too severe
his arraignment of their in9ultots praesSe5ib aibod
differ however with the President IN ms 'he'i'ou
Maiefactors should receive penal punishment and
suffer for the sins of their oppressors one . hay
all the heaviest fines that can be piled upon upon me me
inslans they hey Ieprssen eii he has sug
gested one after another utterly impossible 10 of
dagnosis Of the President is perfectly correct but
in most of the instances he cites his remedies are
fervor Of his utterances there is an idea running
through the public mind that he has come to the
good citizen of the land ought to spend at least
term in the penitentary.
Upon the conclusion of Mr.. Rayners speech
Mr.. Aldrich recalled that he had stated he was
in favor of a revision of the banking reserve
law, but explained that he did not mean to say
responsible In any sense for the crisis through
which the country has recently passed. He said
that December 3 the country banks had In
their vaults a reserve s24s 000, ,000 and If they
had held the amount Senator Rayner argued
they should have the amount would have been
s246,0 900 in gold and legal tender notes That
was in their vaults without regard to what they
had in reserve cities or the bank currency they
held.
Mr.. Bailey suggested that that not fair
statement because for two months prior to De-
cember the country banks, being unable to get
money from the reserve banks, had been hoard
ing their money.
Admitting the truth of this statement, Mr.
Adrich said he believed the same reserve was
in their vaults in the preceding August.
An amendment to the Aldrich currency bill
was introduced to-day by Senator Tillman 1t
provides that the emergency currency to be
issued under the terms of this measure shall not
be withdrawn from circulation more rapidly
than at the rate of s9,000,000 a month which is
in accordance with the present law. The pend
ing bin removes this limitation Mr.. Tillman
objected to the banks being permitted to initiate
the currency by issuing $500, 900 in bank
notes and then to contract it at will