New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1908-05-16
ALDR[CH HAS NEW BILL
SENATE SUBSTITUTES 1T.
Currency Measure Goes to Confer
ence-4greement Expected.


Washington, May 15.-The Senate to-day
Nreeland financial bill amended II by substtut-
ing new Aldrich bill. which was drafted by
Mr. Aldrich yesterday and adopted unanimously
by the Finance Committee this morning, and
then sent the measure to conference
The new Aldrich bill provides for an emer-
gency currency. not to exceed $500 600 0o0 in
amount, to be secured by state county and
municipal bonds. to he geogra phicaly distrib-
uted, and the necessity and amount of the issue
TO be wholly within the discretion of the Secre-
tary of the Treasury. The bill further provides
tax on such emergency currency of one half of
l per cent a month for the first four months
and three quarters of per cent month there
after
The bill also provides that federal deposits in
national banks shall draw such uniform interest
as the Secretary of the Treasury may prescribe
but not less than one-half of / per cent per
annum Finally provision is made for a COM
mission. to be known as the National Monetary
Commission to be composed of nine members
OF each house of Congress. to be appointed by
the Nice-Presdent and the Speaker, respective
~ which shall be charged with the duty of in
vestigating and reporting such changes in the
monetary system as may be deemed advisable
Al five minutes after noon Mr. Aldrich intro
duced this bill in the Senate and without leav-
committee a little later he called up the bill
from the calendar and It was placed on passagA
without debate. The on the measure was
A TO 20 the Democrats with the exception of
Senators Daniel and Owen voting against it.
although Senators Money. Bacon and others
were careful to explain that they regarded the
bill as preferable TO the Vreeland measure but
were opposed to any legislation at this time
The only Republicans who voted against the
MpSSrS Il
Hepburn The Vice-Presdent appointed
conferrees Messrs- Aldrich, Allison and Hale,
Republicans. and Messrs, Daniel and Teller
Democrats.
In view OF the fact that the Fowlerites have
been repudiated by the House and that the
Speaker, later in the day, appointed Representa-
tives Vreeland. Burton and Weeks as the Re
publican conferrees it is expected that there will
be no hostility In the conferences which will
probably begin tomorrow. The only question
which remains to be determined is whether a
majority Of the House will accept the conference
measure finally agreed upon. The leaders of
both houses are still confident that the House |
will accept the report of its conferrees and, of
course. there is no question to the course of |
the Senate.
THE HOUSE DISAGREES
When the financial bill reached the House |
late this afternoon that body. after an acri-
monous debate, disagreed with the Senate |
amendments by party vote, and the measure |
was sent to a conference. Representatives |
Vreeland. Burton. Weeks tRepubiicans). Glass |
and PuJo tDemocrats). appointed
ferrees.
Mr. Williams endeavored to justify his course |
in refusing to vote for his currency bill yester-
day. Amid the jeers of the majority he ex-
planned that typographical error which made
he fon
action. He did not take il kindly when Repre-
sentative Burton pointed out that he had had
months to change the measure, had he ever seri- /
ously considered ii, and that he would have been
at liberty to correct merely mechanical error.
despite the rule under which the bill being
debated His colleagues vainly applauded his
attempts to excuse the minority. but many OF
them confessed during the day that he had been
outwitted by the Republican leaders.
An unpleasant incident occurred q moment
ater when Representative Fowler took serious
exception to a speech made by MI EreelanI
The latter. advocating his measure.
made the assertion that round robin" had
been circulated in its support. as was the case
with the Fowler bill He charged that Mr..
Fowler had sent out a number of letters asking
hat every effort be made to defeat the Vreeland
pill, and he also insinuated that such procedure
vas unfair. Mr.. Fowler to-day turned the tables
oy reading a letter signed Dy MT Nreeidnd anu
written to prominent banker, in which he
icited his support for the Vreeland bill and
Urged that letters be written to members Of Con
,ress.
The Democrats greeted this information with
great glee, and Mr.. VreeIand not pres
mt no answer made, although Mr.. Burton
attempted to pour oil on the troubled waters.
.Ir Fowler later declared that Mr.. Burton had
made a statement which false" when he
aid Yesterday that Mr.. Fowler longer sup
ported his own currency measure. Mr.. Burton
aplied that he had witnesses to prove the truth
If his assertion, and Mr.. Weeks, of Massachu
;etts Immediately corroborated il.