The Washington herald., 1908-04-17
PLAN MONEY SYSTEM
Fowler Offers Bill for the
Financial Commission.
TO COMPRISE 4s MEMBERS
Measure Itself or One Similar 10 II
Expected to Pass This Congress.
AIdrich Bin Hearings Are Finished
and BIZ Is said to stand Poor
Chance of Passage Intact.

The creation of a commission. in which
every section of the country is TO be
represented, to prepare and submit 10
Congress measure thst viii give TO the
United States a scientific financial and
currency system is provided for in bill
introduced in the House yesterday by
Representative Charles n. Fowler, chair
man Of the House Committee on Banking
and Currency
The Fowler bill proposes the creation
OF a currency commission of forty-three
members. eleven of whom shall be MEM
bers of the House of Representatives,
eleven members of the Senate, and twen-
ty-one citizens, to be appointed by the
President. All appointments 10 the COM
mission shall be made before July ] next.
Investigate Whole Question.
Section of the bill provides that the
commission shall investigate the financial
methods and practices of the United
States government and the banking and
currency methods and practices prevailing
In the United States; and shall. on the
first day OF January, 1909, report TO the
President the results of such investiga-
ton. Report is to be made 10 Congress,
The commission Is authorized to call
and examine witnesses. employ experts,
secretaries and others. and to visit
through its delegated members the vari-
Gus sections OF the United States and
foreign countries. Each member Of the
commission, except members Of the House
and Senate. shall receive as compensation
for his services $500 a month from july
l. 1905. until July l. 1903. To defray the
cost of the commission S250.O00 is made
available.
Personnel of Commission.
II is further provided that in appointing
the citizen members OF the commission
the President shall choose six banking
| economists; five residents Of the Atlantic
Coast region, hve residents OF the Aiissis
sippi Valley region, and five residents ol
the Pacific Coast region. Three Of these
citizen members shall be bankers. three
farmers, three representatives of labor
three manufacturers, and three mer
chants.
The House Committee on Banking and
| Currency will take up the Fowler bill fol
| consideration to-day. A commission bil
Will be reported and passed by the House
so the leaders say, while Senator Aldricf
| gave notice some time ago that the Com
mittee on Finance would report such &
measure and that it would undoubtedly
be passed by the Senate.
Hearings Are Finished.
! Hearings on the Aldrich currency bill
were concluded before the House Com
mittee on Banking and Currency yester
/ day. The committee is expected to eithel
report the measure adversely or lay II OF
| the table. The House committee viii no
be permitted to frame the currency bill
that will be passed. The programme tha
will be followed in this connection will b.
outlined in a Republican caucus to b
held early next week. The indications arr
that a composite measure, made up o
provisions of III: Aldrich bill and th'
/ Vreeland bill, will be adopted.
/ The basic principle Of the Aldrieh bill
namely. emergency currency. will be rec
| ognized In any measure that may b.
| passed by the House The Vreeland bill
| is similar in many respects TO that passes
| In the Senate and written by Senator
Aldrich. The main point Of difference il
! that the Vreeland bin designates CONNER
| cial paper. as well as government. state
county. and municipal bonds, as securit.
for circulation.