New-York tribune., 1908-05-26
CURRENCY ULTIMATUM
CANNON HARD At WORK.
No Financial Measure, No Pubic
Buildings Bill, Says Bartholdt.
lFrom The Tribune Bureau.I

Washington MAY 25-The Republican mem
bers OF the Committee on Finance held an in
formal meeting this evening. at the earnest
solicitation of Speaker Cannon. 20 consider the
financial bills again with view to ascertain
ing if there anything in the vreeland bill
that could be Incorporated in a compromise
measure which would be accepted by the Sen
ate Mr.. Cannon sent for Senators Aldrich and
Hale as soon as the Senate adjourned this after
noon and begged them 10 take this action. de-
spite the fact that they assured him that TO
measure which differed in principle from the
Aldrich bill could pass the Senate, and that such
conference would be useless unless the House
were prepared to accept. at least in principle,
the provisions Of the Senate measure. Mr.
Cannon suggested that some form OF lesisla-
ton might be framed whereby emergency cur
rency could be issued with bonds security
and with clearing house certificates also. pro
vided they were found TO be practicable sub
stitute for bonds"
Senators Aldrich and Hale gave the Speaker
encouragement beyond agreeing to meet
their Republican colleagues TO talk the matter
over. On the result of this evenings meeting.
which cannot be disclosed at this time. depends
whether or not there will be a meeting Of all
the conferrees on the financial bills tomorrow.
such a meeting being probable
AS soon as the Senate met this morning Sem
ators Culberson and Teller, the latter one of the
minority conferrees the financial bills, called
the attention of Senator Aldrich to the COM
promise proposition outlined in these dispatches
this morning. and announced that the minority
members of the Senate would not permit the
enactment Of any measure which was "tinct-
ured with the credit currency heresy This
warning was made known Mr. Cannon. but
he insisted nevertheless. that some further ef-
fort be made to reach an agreement and that
he would not be convinced that he had lost
control Of the House until that had been demon
strated by a vote rejecting the compromise
proposition which he desires the conferrees 70
report. Mr. Cannon takes the ground that mem
bers of the House are liable TO suffer far more
severely from lack Of legislation than members
of the Senate and that they cannot afford to
refecr bill which provides for emergency cur
rencv. which will probably never be needed. even
if such currency can be based solely on bonds
Meanwhile the Speaker is doing yeoman work
to gain votes for such financial bill as shall
receive his approval
PUBLIC BUILDINGS BILL AS CLUB.
In order to hold a quorum. the Speaker is
shrewdIy preventing an agreement by the
House TO the conference report on the public
buildings bill as he realizes that as soon as
that is agreed TO the members will scatter like
a flock of sheep Mr.. Bartholdt who IS IN
charge of this bill. has been convinced by the
he will not call up the public buildings OH
until financial bill is passed. as there is an
insistent demand for financial legislation IN MS
district (st Louis. and he dare not return
home without having obtained some action on
that subject Mr.. Bartholdt made the following
statement late to-day:
served notice on the Speaker to-day that
would not call up the conference report on the
public buildings bill until satisfactory currency
bill has been passed The eonferrees on this
report has been adopted by the Senate told
the Speaker that my constituents, especially
Republicans are urging on me with mucn FlSor
the absolute necessity of enacunS at tnls seS-
sion an emergency currency measure. and that
| agreed with them, and. l believe, Win a ma
iorffv of the thinking people of the country.
49, ~ - ia,,;sIatior - necessary 70 restore
financial confidence and guard against recur-
renee of panic conditions. The Speakers repIJ
that no one could force me 10 present ti4e
conference report.
The situation is this: The country is looking
the Republican party to pass an emergency
currency bill Congress has been IN session SIX
months and has failed to agree on currency
measure II we adjourn without doing anythins
more than creating a currency commission IL
will be up TO the Republican party 70 make
embarrassing excuses if panic conditions recur
this fall. Furthermore. a Presidential campaign
approaches.
public buildings bill in my pocket am going
70 keen il until a satisfactory currency bill has
been passed The House and Senate conferreeS
on currency at the threshold Of a tentative
should not agree and why should not enact
their agreement into law. for one willing
10 stay here all summer If il is necessary 70
"starve out any recalcitrant group or faction
Commenting on the statement that Senator's
Teller and Cuberson had announced their in
rention TO fIibuster against the adoption of any
features of the Vreeland BILL Of the House
conferrees said:
The only patent Interpretation Of this atti-
tude is that the Democratic Senate managers
now propose the Aldrtch bill nothing II
this be their attitude and they maintain it. OF
course there will be currency legislation
beyond that creating a commission The a-tl-
tude of Senator AldriCh. on the other hand. IS
exceedingly reasonable He has been ready for
a compromise whereby individual banks which
preferred not TO affiliate with national clearing
house associations would be authorized IL they
desired % buy state. county municipal bonds
and them security take out additional
circulation in time of need can see no reason
why such an addition to the bill should not be
accepted by the House: but whether the Nree-
land bill amended would be acceptable -
the Senate-there's the rub
FILIBUsTER IN THE SENATE
The Senate leaders conducted a miniature
fhbuster TODAY to prevent the enactment %
any legislation which might result in further d.-
laying the House from finishing its work. and
for the greater part OF the day Senator's ex-
pected to get away tomorrow. Late in the
afternoon however Mr.. Hale announced that
he had learned from Mr. Bartholdt that no
agreement the public buildings bill was
possible before tomorrow and the general def
cheney bill could not be disposed OF until that
agreement was reached. so he moved that the
Senate adjourn until tomorrow. IL is not ex-
pected that final adjournment will be taken
before Thursday or possibly. Saturday. OF
course the Speaker Is aware that the closer
adjournment approaches the national