Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1908-01-17
DEMOCRATS AGREE
with ALDR|CH BILL.
Their Amendments Mostly Of Minor
Nature---Fight In House on Pen
al Laws Crows Warmer.
THE ALDRlcH BILL,

Washington. Jan. 16-The Senate
| committee on finance gave further con-
siderntion to the Aldrich bill today.
Various amendments were offered and
discussed. The clause relating to the
filing Of railway bonds as security for
additional currency Is receiving con-
siderable attention, but several mem
bers Of the committee think ii will be
left intact on the ground that there
Will not he sufficient available security
for emergency needs ii railroad bonds
are not included. The Democrats OF
the committee seem 10 be largely In
accord with most Of Senator AldrIch's
ideas and the amendments they will
urge will be generally of a minor ma
ture.
After two sessions of the Senate COM
mittee on finance today the members
OF the committee We're in possession
OF fair idea OF what shape the Aid
rich financial bill will be in when it Is
reported next week. There will be no
more meetings of the committee until
Monday, when the various amendments
which have been evolved by general
discussion of the bill during this week
will be incorporated in the measure.
1t is stated to be practically certain
that the limit of extra currency which
the bill provides for will be raised from
$3.50. 0n0.0 to $500, 900, 600.
Most OF the members of the committee
believe that this figure is not too high
for time Of emergency when a heavy
issue Of currency notes is demanded on
security Of the present sort and under
the prescribed tax. The tax on the emer-
gency issues will not. it is believed, be
placed higher than per cent, which the
bill now provides.
An amendment By Senator Bailey. re-
ducirg the required population of a coun
ty or municipality the bonds OF which
are to figure in currency issue from
20,tI to 10G00, is expected to receive the
support of the majority of the committee
and. according to reliable reports, will be
adopted This will permit smaller towns
Of just as great an age and of conf
mensurate prosperity with the larger
ones, to participate in the benefits OF
the measure.
Senator Doiliver will proba bly, offer an
amendment in opposition to the railroad
bond feature Of the bill and it may pos
sibly call for the entire elimination OF
such securities. Senator Bailey will no
doubt support him in such Il project, for
he does not hesitate to let it be known
that he is not in favor of the railroads
being allowed to file their bonds with the
government as security for currency is
sues. owing to the tendency to fiuctuate.
There is thought to be enough opposition
in the committee. however. to defeat such
an amendment. for the belief is expressed
by its opponents that the banking by the
government once railroad bonds are ac-
ceptec es security for a certain issue
will have the effect Of insuring the sta
bility of the currency notes issued on
them.
A Democratic member OF the committee
said today that the minority. as a whole,
Is not in favor OF n bill providing a cur
rency based on securities outside Of gov
eminent bonds. but being unable to pre-
vent favorable report on such a Meas
ure they are making 1t their duty, so far
as lies In their power. to make It as eff
fective measure Of that nature as pos
sible, and they are therefore Joining with
Republicans in advocacy of most OF the
features Of the Aldrich bill