The San Francisco call., 1908-05-26
CANNON WANTS
LEGISLATION ON
THE CURRENCY
Issues Ultimatum to Senate
That Action Must Be Taken
at This Session
Speaker Is Determined to Force
Action by Refusing to Sane
ton Adjournment
Public Buildings Bill Is Held Up
Until Financial Measure
Is Passed
sfEcIAL DISPATCH TO THE CALL

81 ECIAI. DISPATCH TO THE CALL
WASHINGTON. May 25.-Speak-
er Cannon is determined there shall
be financial legislation at this session,
and has delivered an ultimatum to the
senate that he will refuse to agree
to adjournment until some financial
law IS passed on the statute books.
The senate and house are wide apart
on the financial question, the senate
standing strongly for the Aldrich
bill. while the house is determined to
insist on the adoption of the Vree-
land bill. The conferees representing
the two branches of congress have
been hopelessly deadlocked and utter
ly unable to make any progress in the
direction of adjusting the disagree
ment between the senate and house.
But since Speaker Cannon laid down
his ultimatum he has had several con-
ferences with Senators Aldrich, Hale
and other senate leaders. and there is
now little better prospect of securing
legislation.
PROLONGS THE SESSION.
To convince the senate that he is in
earnest in his determine tion to force
financial legislation, Speaker Cannon
announced that congress would remain
in session 10 days longer The senate
was ready and anxious to adjourn. Can
non today summoned to Washington
by telegraph all the members of con
gress who have gone to their homes
and requested them to remain here
until financial measure is passed. He
-,l
main.
Currency legislation was the chief
topic among leaders of the senate and
house today. The revival OF the dis
cussion came unexpectedly and led to-
all sorts of rumors of probable agree
ment between the conferees on the
Aldrich- -Vreeland bill looking to- the
enactment of measure at the present
session. i
MANY FEAR FAILURE
Many republican members of the
house do not seek to disguise their fear
that II congress should adjourn with
out passing an emergency currency bill
the failure to take. action would be dis
astrous TO the majority. This fear was
emphasized by Representative Bar
tholdt Of Missouri chairman of the
house committee on public buildings.
who declared that he would not submit
bill until financial legislation had been
assured His action holds the build
| ings bill, in which SIG members of the
mouse and many senator's are inter-
! ested, over the head of any "recaici-
trant group or faction" that may be
opposed to an agreement on emergency
currency. There are many members of
! both branches of congress who believe
that the impression given out by many
leaders that there is no hope for action
at the present session is for the pur-
pose of arousing the country to demand
action before adjournment. If such a
demand should come now the result
would be in doubt.
Early in the day the report was cir
culated in the house that there was a
movement on foot to dovetail the Aid
rich and Nreeland bills, retaining the
principal features of EACH The erect
| of this course would be to permit in
dividual banks to take out emergency
circulation on government, state. coun-
ty or municipal bonds, or, as an al
Tentative proposition to take ont
emergency circulation on commercial
paper to be guaranteed by banks of a
clearing house association as provided
by the Vreeland bill. 1t was the idea
in the house that this provision could.
be amended so as to be acceptable to
the senate by defining the character.
of the securities, such as prescribing
| that they shall have two indorsers and
not run more than 90 days. 1t was
suggested further that the emergency
circulation measure should not operate
for more than three years, and that In
the meantime there could be a general
revision of the currency and banking
/ laws.
OPPOSED BY DEMOCRATS
No sooner had this scheme for a
compromise reached the senate than
the democratic leaders served notice on
Senator Aldrich that they were ready
to talk for month to, prevent amy
feature of the Vreeland bill becoming
law. Although Speaker Cannon was
supposed to father the compromise
movement 1T met with decided opposi-
ton in the house.
Representative Burton of Ohio. one
of the republican conferees ON the bill.
had opposed the Aldrich measure and
was pledged to a considerable follow
ing to do all he could to prevent the
adoption of any of its principles
Conceding that the democrats of the
senate will not yield, the chance for
Legislation is slight. 1t is in such a
contingency that. according to the be-
lief of many. public demand is expected
to play a strong part. When the Aid
rich bill was passed by the senate.
Speaker Cannon was thought to favor
IL, and he may not be wholly averse
to its adoption at this time. Public
demand therefore. may be directed at
Burton and those who believe with
him that it would be better not to have
any legislation than to accept the Aid
rich bill.
Such members of congress as have
limited at such a deep laid plot are
pointing to the fact that but one meet
ing OF the conferees on< the Aldrich-
Vreeland bill was required to reach the
conclusion that they could not get TO-
gether. 1t was said further that this
indicated that there was II desire from
the start to force the Aldrieh bill on
the house. Whatever the result may