New-York tribune., 1908-05-08
ASK CURRENCY VIEWS
COMMITTEE At HORK.
Preparing Bill for Presentation to
Conference on Mondau.
jFrom Tie Tribune Bureaul

u
Washington. May Mindful Of the fact that
satisfactory financial bin must be reported TO
Republican conference Monday the currency
committee appointed by Representative Sher-
man last night began work early this morning
and was At it all day Under the leadership of
Representative Nreeland. three hours considera-
1i"n was given 10 the best method of obtaining
The consensus Of opinion in the House as to a
proper measure. II was finally decided that
letters should be sent TO each member of the
majority asking his views The text of the
letter prepared by Representative knowland
follows:
Pursuant to the following resolution the com
nlttee Of five selected the Republican con-
ference last evening desires the fullest express
sion from their Republican colleagues:
HeSolteo, mat the conference approve the recog-
"Sa %i oon5Eefei~i IsIer through clearing house
eensN currency. ana also approve the proposition
for currency commission and be it further
sc pef bill such eort5ee ta i,ii5Sd2s to rPoTt the
meeting to be held within five days.
The members Of the committee would espe-
tally prize an expression from you on one or
First-WouId you favor limiting The author
ized issue 81 notes under the bill to an amount
less than $3.50. 1000 600?
Second-Would YOU favor the requirement
that the members Of associations should be To-
Gated in contiguous territory
Third-Would you permit more than as
soCiation in any city
FoUrth-Would You favor making the banks
of all associations Jointly and severaI!v liable
for all notes issued by its constituent members?
The members Of the committee would value
any other suggestion which you may wish to
offer in regard 1" currency legislation very
early reply addressed to the chairman of the
committee is requested Very truly yours.
EDWARD e. NREELAND. Cha airman.
! r. kN0WLAND Secretary.
Another letter signed by Mr.. Vreeland. reads
follows:
-Fr5I1S md in HI-rf-
ing. Al Your earliest convenience. any amend
'nents changes you think would be advisable
70 incorporate in the currency bill TO be drafted
l'r- the conference committee
The name TO be given 10 the bill when COM
pleted has not Vet been decided. Three sug
gastions were made at the meeting Of the COM
1nittee this morning-that it he called the con-
ference bill. the Vreelsnd bin the Aldrich
lill Although nc decision was reached, it is
probable that the latter name viii he chosen.
that the measure can Immediately he sent to
conference with the senate. The committee
Y III hold its next meeting Saturday morning
thus giving every member ample time To ex-
l,resS his views in answer tho letter
Representative Prince. of Illinois. a member Of
the Banking and Currency Committee. and one
Of the leaders of th.. insurgents" the cur
rency question, made the following statement
to-day.
II the conference committee presents TO toe
and the conference adopts II and orders II re
ferred to the Banking ana Currency Committee
with instruction 20 report ii to the House, that
instruction will he promptly Obeyed by the
Banking Committee. irrespective of the incOr-
uoration in the measure OF commercial paper as
z basis for currency circulation ! % not un-
1ertako 10 say that the committee will report
il favorahly- unfavorablv. but il will report.
and the bill viii then be before the House for
action
r. however. the conference committee merely
reports 2 bin the title Of the Aldrich bill
Aar7. n wit all
after the enacting clause stricken out-and il IS
adopted ny the conference anG sent to the Bank
ing and currency Committee with instruction to
report that instruction will not he oheyed- The
Republicans do not want the AldTiCh bill. the
Democrats do not want il: the people d" not
want il and the Banking and Currency Com
1niJtee will be party To attempt. open or
covert. on the part Of the Republican leaders
% Put that bill through the House by whip and
spur. or slip II through by trick A genuine
currency hill Will be drafted, ordered hy the
conference: and what is moro, it viii be