The Birmingham age-herald., 1908-01-26
MANY CHANGES IN
 FINANCIAL BILL
Senator AIdrich Will Modify
 His Currency Measure
BAlLEYS s fAttoWED
Substitute Is Demanded For Aldrich Bill Because It's Provisions Are Not Satisfactory To Bank
 CTS or Lawmake

Washington. January 25.-An all-day conference of the democratic senators today resulted in directions to the mi nority of the committee on finance to prepare a bill which will be urged as a substitute for the Aldrch bill and pos- sibly be given the support of all the democrats of the Senate. The democrats of the finance committee will take no action along these lines until the data required of the treasury department by resolution and promised for early next week, has been received and gone over by the committee. Judging from the views given by the democrats in con- ference today, a bill somewhat along the lines of the measure recently suggested by Senator Bailey will be forthcoming.
 Senator Bailey's proposed substitute for the Aldrich measure provides for the issuance of money by the government in- stead of by the banks One of his plans in regard to this project is to have the bill conform to the Aldrich bill in every particular save for the mode of issu- ing the currency, which will be through deposits in national banks and the col lection of interest therefor.
 The banks receiving currency deposits will be required to file securities with the government in exactly the same manner as provided in the Aldrich bill. MT. Bailey has another plan which pro- vides for the deposit of funds in desig mated Repositories only.
 Extension of Deposits.
 A suggestion which he made to gain
 
 tension of deposits to state banks. As the talk went along there grew a tacit agreement among the majority of the democrats in the conference to the eff feet that a measure for emergency currency, exclusively, would be proposed and supported The idea of coming for ward at this time with a bill intended to introduce radical reform in money matters was gradually lost sight of, and Senators McLaurin and Owen were given to understand that their measures, so earnestly advocated during the morning session of the conference, would have to be abandoned for the present.
 Another conference of democrats will be called as soon as the finance committee, composed of Senators Daniel, Teller, Money, Bailey and Taliaferro, draw up their bill after perusing the treasury de- pertinent figures.
 When the Senate committee on finance meets next Monday, Chairman Aldrich will be prepared to exhibit the perfected text of his currency bill. During the recess of the committee, MT. Aldrich has been engaged with Senators Hale and AL lison and other prominent republican members of the committee in putting the finishing touches upon the measure, and they held their final meeting today. The new bill will be in no wise a departure from the principal underlying the original measure, but it will embody many changes, due primarily to suggestions made in the committee and secondarily to suggestions from outsiders.
 Important Change.
 Among the more important of the changes will be one accepting Senator Bailey's proposition for the distribution of the proposed asurplus bank issue among the various states in proportion to their banking capacity and surplus. This feat ure has been strenuously contended for by the Texas senator, and the republicans have decided to concede 1t. not only be- cause they consider it equitable, but also because they think they will assist ma- terially in bringing democratic support to the measure when 1t reaches the Senate. Senator Bailey has been engaged in pre- 
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