The Birmingham age-herald., 1908-01-17
Financial Measure Is Round- ing Into Shape In Hands
 of the Committee
EXTRA CURRENCY LIMIT
 MAY BE $5OO,OOO,OOO
Objection Is Raised to the Feature of Aldrch Bill Which Relates To Cur rency Issue On Railroad Bonds
 Owing To Fluctuations.

washington, January 1e.-After two ses- slons or the Senate committee on finance today the members of the committee were III possession of fair ideas of what shape the Aldrich 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 amend ments which have been gradually evolved through the general discussion of the bill during this week will be incorporated in the measure.
 It Is stated to be practically certain that the limit of the extra currency which the bill provides for will be raised from s25o,0o0,000 to $5o0,OO0, 900. Most of the mem bers of the committee believe that this figure is not too high for time of emergency when heavy issue of cur rency notes is demanded on securiety of the prescribed sort and under the de- seribed tax. The tax on the emergency issues will not, it is believed, be placed higher than per cent, which the bill now provides.
 An amendment offered by Senator Bail ey reducing the required population of county or municipality whose bonds are to figure in a currency issue from 10000 to 10000, is expected to receive the support of a majority of the committee and according to reliable report will be adopted This will permit smaller towns of just as great an age and of com mensurate prosperity with the larger towns to participate in the benefits of the measure.
 f.. n 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 a project, as he does not hesitate to let it be known that he is not in favor of railroads be- ing allowed to file their bonds with the government as security for currency is- sues, owing to their tendency to fuctuate. There is thought to be enough opposition in the committee, however, to defeat such an amendment for the belief expressed by it's opponents is that the backing by the government, once railroad bonds are accepted as security for a certain is- sue, will have the effect of insuring the stability of the currency notes issued on them
 demOcratlc member or the committee asserts that the minority as whole is not in favor of bill providing a cur rency based security of government bonds, but being unable to prevent fav- orable report on such a measure, they are making it their duty so far as it lies in their power, to make it effective d measure of that nature as possible, and they are, therefore, joining with re- publicans in advocacy of most of the feat ures of the Aldrich bill
 The Senate committee on finance gave further consideration to the bill today. Various amendments were offered and discussed. 1t is understood that no sec tion of the bill has as yet been definitely amended. The clause referring to the filing of railroad bonds as security for ad- ditional security received considerable at tention, but it is thought by several eventually be left intact on the ground there will not be sufficient available se curity for emergency needs if railroad bonds are excluded.
 The democrats of the committee, as a rule, seem to be largely in accord with most of Senator Aldrich's ideas, and the amendments they will endeavor to have adopted will be generally of a minor na- ture.
 Senator Hansbrough has expressed lis intention of changing his central bank bill in a few particulars and offering it in the Senate as a substitute for the Aldrich bill when that measure comes up for con- sderation