The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1908-04-11
Its Provisions Are Concession
To the Bankers of the Gen.
trail, Western and Southern
States.
WATSON KNOWN AS Gov
ERNOR" ABOUT HALLS.
His Nomination for Governor
Has Not Turned His Head
And He Is Showing Old Eag-
erneSS for Work.

Washington. April t1.-An important
to the Aldrich bill is pro.
posed by the house leaders. The pro-
visions of this proposed amendment
were autlined by Representative aJmes
+. Watson. whip OF the house.
The amendment that is being con-
sidered is a clearing house PROPOSE
tion." he said. The details remain TO
be worked out. but To illustrate what is
intended may say that banks OF So
UO0oOo aggregate capital are TO be per-
mitted to form a voluntary association
to do a clearing house business. The
amount of aggregate capital may be
more or it may be less. These volun-
tary associations, according TO the ten
tative amendment. are to be permitted
to pool their commercial paper and on
it to issue currency under limitations
TO be laid down in the law.
There is great demand from bank
ers for such a clearing house arrange
ment and. so far as | have heard. no
objections have been urged against II.
There will be some sort OF currency
legislation at this session-either the
Aldrich bill of something else. I am
inclined TO beliovo the currency legisla-
tion to be enacted at this session will
take the form of the Aldrich bill with
the clearing house amendment that |
have suggested
Little Other Legislation.
Speaking generally Of the legislative
program Mr.. Watson said;
Il believe that. aside from the cur
renCy bill no measures will be enact
ed except the appropriation bills. The
house has yet TO act on the sundry
civil appropriation bill, the naval ap-
preparation bill and the general def
cheney bill.
''All this talk that Congress must re-
main in session until June ! is bosh''
added the whip of the house. Il know
Of no good reason why We should loaf
along until that time. | have seen
many representatives and senators and
pressed my date for adjournment,
which is May 10 and | am confident
that we shall be able to get away by
the middle of May"
The proposed amendment to the Al
drich bill giving clearing house asso-
Citations the right TO issue currency
based on commercial paper is a CON
cession 70 the bankers Of the Central.
Western and Southern states. There
are many loud complaints from these
sections that the bill as II passed SEN
ate Is a measure in the interest OF the
Wall street spectators. II is propos
ed TO broaden the bill so as TO enlarge
the inducement 10 bankers of the Cen
traI, Southern and Western sections
of the country 10 take out circulation
under its provisions.
ION His Job" as Whip.
That Representative Watson is on
his job" as whip OF the house is evi-
dent from a notice which he sent %
/ laugh. Mr.. Watson returned to Wash
J
nouncement is dated at o'clock the
following morning. II is being pass
ed around as souvenir Of the early
rising habits of the Indiana candidate
| for governor. II is printed in red ink
and is as follows:
( House Of Representatives Washing
/ ton. D. c. Tuesday. April Z, 1905
a m.
: All republican members are urgent
~ requested to remain in attendance
until Thursday. Because of the demo
cratic filibuster the absence Of very
many republican members may tIrn
! the house over 10 them. Therefore
! please be present until the house ad-
! jOurus on Thursday
Very respectfully.
JAMES r. WATSON.
/ Republican whip.
The trend Of comment heard in the
cloak rooms Is that d whip who will
/ get up a O'Clock in the morning 10