The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1908-04-18

wv will not be reported TO the
" House. The Committee on
Banking and Currency,
which has had the measure under con-
siderntion since 1t came from the SEN
ste, to-day unanimously voted to lay
II OH the table.
The discussion in committee was
brief. 1t was 1910 when the commit
tee was called TO order, and adjourn
ment was taken at 1880. The only
point debated was as to whether the
committee should make a formal re-
port giving It's reasons to the House
Tor It's unfayorab BILE action, and the
conclusion finally reached was that
no reasons should be given. Conse-
luently the committees report will be
mere statement OF the action OF the
committee.
or the nineteen members OF the COM
mittee, thirteen were present at to-
day's meeting. They were Messrs.
Prince. Illinois, McAiorran. Michigan;
Waldo. New York; Hayes. California;
Duryea. New York; Lewis. Georgia;
Pujo, Louisiana; Glass. Virginia; GIL
lespie, Texas; Crawford. North Caro-
lima: McHenry. Pennsylvania. and
Chairman Fowler.
To Consider in Caucus.
Tho vreeland bill, introduced in the
Iousc last week as substitute for
the Aldrich bill, and which. it is un-
derstood, is to be considered at Re-
publican caucus to be held next week
was not considered at the meeting to-
day. 1t was decided. however. to
give hearing tomorrow to Repre-
sentative Vreeland. Chairman Fowler
and other members OF sthe committee
refused to be quoted as to the prob
able fate OF the Vreeland bill, but the
opinion seemed to prevail that 1t would
fellow in the wake of the Aidrich bill.
The bill introduced by Chairman Fow-
Ter. providing for currency commits
sion. also Will be considered at the
meeting of the committee tomorrow.
The commission idea apparently has
many friends in the committee. a
hearing also will be granted to Rep
resentative Lcverins on his bill to In
corporate the Sovereign Trust Company
OF America. Two other measures Will
receive consideration at this meeting
tho Dalzell bill, making 1t ,misde-
lneanor to circulate false reports re-
garding national banks, and the Freed
mans Bank bill. recently paased by
the Senate.
May be substltutc Bill.
u lie tuplInE OF lIie5 ftloliGIl plll VIII
result in currency legislation being
considered by Congress Of the two
branches of Congress II the House
carries out the probable program Of
now passing the Vreeland bill.
In that event. the House measure
would come to the Senate. all after
tho enacting clause would he struck
out. and the provisions of the Aldrich
bill substituted. The effect would he
to put both the Vreeland and Aldrich
bills into conference, and from them
agreed upon. The Nreeland bill is not
hostile in character to the form of
Legislation provided by the bill which
was passed by the Senate, and therefore
the action of the House Committee on
Banking and Currency. in the event its
course Is followed by a favorable report
on the Yreeland bill as substitute.
would not indicate that there will be
no currency LEGISLATION at this session
scf Congress. as the House probably
VIII pass that measure.
For johnson Feature.
Representative yreeland. In drafting
his bill, made provision for the use OF
commercial paper and all other seouri-
ties held by national banks under the
national bank act as an additional
circulation may be issued. He elimi-
-.patad certain amendments which were
lacked on the Aldrich. bill while 1t was
Under consideration in tho Senate, in
rluding the provision by Senator John
son, requiring national banks to keen
.three-fourths OF the reserves In their
own vaults. and the amendment by
Senator La Toilette, prohibiting the
loanins Of money by any bank to a
corporation the officers or directors OF
which arc officers or directors OF the
corporation seeking the loan.
1t is expected that the Senate con-
xerees VIII make strong fight for the
retention OF the Johnson reserve fea-
tlire, but there is little prospect for tic
a adoption of the La Toilette amend
ments. ,'.S
/ Representative Vreeland is not n
member Of! the House Committee on
Banking and Currency. yet it is ex-
pected that If his bill is passed no
NIL pc one OF the House conterees. Ii
is not unlikely that Representative
Rurton would be another. and the
4 Democratic member a man who is fav-
orable to legislation along the lines OF
the Aldrich-Vreeland propositions Mr..
Nreeland and many House leaders favor
an amendment to his bill providing for
a p currency commission to report unon
2 general revision Of the banking laws
II Forcstry Rill Constitutionnl,
WASHINGTON. April 17.-Though
4 to-day was set for determination BY
the House Judiciary Committee of the
scnnstitutionality Of the Appalachian
$tNVhite Mountain forestry bill, no action
Z was taken, The committee considered
the tentative report by Representative
Rrantley, of Georgia, holding that the
Y bill Is constitutional II 1t can be estab-
l'shed that acquisition Of forests is In
hid ofsnaYi gability Of streams, and un-
constitutional IL that contention can
not, he supported &s AZ 8