The morning journal-courier. (New Haven, Conn.) 1907-1913, 1908-05-26
CURRENCY BILL
COMES TO LIFE
Unexpected Revival Of suppos.
edly Dead Legislation Fore
shadows Probable
Agreement.
POLITICAL FEAR IMPEL.LlNG
Bartholdt Refuses 10 Submit Publlc-
Building Bill In House until
Financial Action Is
Taken.

Washington. May 25--Currency leg
islation was the chief topic between
leaders of the senate and house to-
day The revival Of the discussion
came unexpectedly and led to all sorts
OF rumors of probable agreement be-
tween the eonferees on the Aldrich-
Nrecland bill looking to the enact
ment Of measure at the present ses-
sion.
Many republican members of the
house do not seek to disguise their
fear that If congress adjourns without
passing an emerg ncy currency bill
the failure to take action will be- dis
astrous to the majority This fear
was emphasized ~ representative
Bartholdt OF Missouri. chairman of
the house committee on public build
ings, who declared that he would not
submit his conference report on the
omnibus building pill until financial
legislation had been assured. lIls ac-
ton holds the buildings bill in which
3l6 members of the house and many
senator's arc Interested, over tho neads
of any recalcltrant group or faction"
which may be opposed to any agree
ment on emergency currency
Many members If both branch rs of
congress believe that the impression
given by leaders that there Is no hope
for action at the present session Us to
arouse the country to demand action
before adjournment. If such de-
mand should come now the result
would be In doubt, Early in the day
report was circulated in the house
that there was movement oc foot
to "dovetail'' the Aldrich and Nree-
land bills. retaining the principal
| features of each. The effect of this
course would be to permit individual
! banks TO take out emergency circu-
lation on government. state, county
or municipal bonds, or as an after
native proposition TO take out emer-
gency circulation on commercial pa
per to be guaranteed by banks of q
clearing house association as proVid-
ed by the Nreeland bill. 1t was the
idea in the house that this provision
able to the senate by defining the
character of the securities. such a!
prescribing that they shall have two
cndorsors and no run for more thar
ninety days. 1t was suggested fur
ther that the emergency circulation
measure should not operate for NOR,
than three years and that in thu
meantime there could be a genera
revision of the currency and bank
4. ing laws.
, No sooner had this scheme for
, compromise reached the senate thai
the democratic leaders served motto
, on Senator Aldrich that they wer
, ready to talk for a month to proven
any feature of the Nreeland bill be
, coming law.
, Concluding that the democrats o
{ the senate will not yield and they ar
not so likely as the republicans ar
, TO be starved out by the holdin
+ up Of the public buildings bill. an
, that Representative Burton and hi
!, followers in the house cannot be per
/ suaded to accept the Aldrch bill, tn
chance of legislation is slight 1t
in such a contingency, according I
, the belief Of many that public de
mand is expected to play a stron
part When the Aldricll bill was pass
II ed by the senate Speaker Cannon wa
thought to favor II and he may NJ
/, be wholly averse to its adoption {
this time. Public demands, therefor
may be directed at Mr.. Burton an
those who believe with him that
would be better not TO have any LEI
islation than to accept the Aldric
bill, such members of congress {
IS have hinted at such a deep laid plo
are pointing to the fact that but OF
meeting of the conferees on the AlC
y rich Nreeland bill was required
= reach the conclusion that they cou
y not agree 1t was said further thj
v this indicated that there was a desi
y from the start to force the AldriC
bill on the house. Whatever the r.
I suit may be, the leaders in that boo
! insist that they will not accept Il
. Aldrich bill unless the Nreeland pr
i vision for the issuance Of circulate
: on commercial paper is retained
= the alternative proposition.
That Speaker Cannon entertain
- hopes that there will yet be an agre
- ment Is indicated by the fact that Il
:! rgeant-at-arms Of the house Is a
monishing members not to leave Il
- city until final adjournment has be-
decided upon, and in some few cas-
/ members who have already go
home have been asked to come back