The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1908-05-27
Believed the Report Will Be
Adopted in House This
Afternoon.
ALL REPUBLICANS
SIGN THE DOCUMENT
Finally Decided That the Measure
Shall Be in Force
Six Years.

Shortly after o'clock the con
ferees announced agreement -: -
report on the currency bill. 1ae
report was signed by all the
Republican members from both
houses.
One matter in disagreement after
the forenoon session, which was the
question whether the law should
have a time limit or not, was set
tied by agreement that the measure
should continue in force six years.
That the House and Senate conferees
would reach an agreement on the cur
rency bin this session was made Ger
tain this morning, when "a meeting of
The Republican members OF the Con
ference Committee was held at the
Arlington Hotel At the close OF this
meeting II was announced that the con
Lerees were in substantial agreement.
Inc only point OF difference that re-
mains between the cOnferees was OF the
question, whether the law should be
limited TO nVe years or more, or whether
no limitation al all should be put upon
H. Representative burton OF OhlO is
strongly iusisICuU that the nVe-yedT
limit shall be fixed.
II IS believed, however. that this limi-
taIion question viii be disposed of. A
luu meeting Of the Conference Com
mIJtee, including Republicans and
democrats was fixed for 1 o'clock this
afternoon. and a report to both houses
VIII be made, IL is thought.
Bills Combined.
The bill upon which the Republican
confcrees agreed this morning would
permit banks TO issue emergency circu-
l2t+On under either the Aldrich plan
or The Nreeland plan. The new bill
amounts 10 doYetalhng the TWO meas
ures into single bill A redemption
JuHd OF 10 per cent Of the circulation
Issued IS TO be placed IN the hands OF
the Treasury Department the tax on
circulation remains substantially as IL
U&s in the Nrec-auC bill. being per
cent f0T the nTsL month. and per cent
month additional up 10 10 per cent.
The limit CI total circulation that can
be permitted TO issue circulation based
on state, county, or municipal bonds
up 10 81 per cent of their face value.
OF 10 issue Circulation based on com
mercial paper. provided the issue Is
made through clearing house dSSOcia-
tIOnS- The name OF clearing house as
sociatiOus, however, is changed TO ma
tional currency associations.
No limit IS fixed as between the use
of bonds or the use Of commercial pa
per. except that the total circulation
that may be based on commercial paper,
shall not exceed 80 per cent Of the capi-
tai and surplus OF all the banks In the
country, which would fix a limit Of
about $3.50. 600 The currency com
mission bill. which has already passed
tAe Senate, but which has not yet
bAssed the House, is added TO the meas
hTe
II is expected the conference report
will be adopted in the House today.
Willie Il Is believed that IL will be
rf IN AT ar-Iv- ar+
there is considerable fear that the
Democrats will be inclined 10 debate il
at length. II Is also feared that OBJ
JectiOns may be raised by one or two
Senate Republicans, particularly by
Senator La Toilette.
Taft at Capitol.
Secretary TAM visited the Capitol to-
day after he had left the White House
and talked over various matters with
the President. He called on Repre-
sentative Burton, who is ore OF the con-
fereeH on currency, and on Senator
Lodge ard other Senators. The nature
Of his mission was not fully disclosed
but IT Is Underst oOd that he was in
siStent that currency legislation be
passed..
It is said that he urged that Congress
take action on one or TWO other leading
Administration measures before ad-
1BuTnmenJ- One of the matters in which
he is interested in the passage OF the
bill 10 perpctUate the Inland Waterways
Commission He is also anxious for the
passage OF the measure to cOnUensare
injured Government emplOVeS