Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1908-05-28
Washington. May 27.-The curren-
ty question. held its place today as

Washington. May 27.-The curren-
~ question held its place today al
J.. ac,.cany The only subject OF consid-
GRAFTON at both ends of the Capitol
and when both Houses adjourned the
compromise bill which was drafted
by the Republican confereees had re-
ceived the sanction of the House and
had been presented to the Senate
where it was announced, 1t would be
taken up, for consideration tomorrow
and where it will also be passed when
! the vote is reached.
| At a continuation of yesterday s
| conference between the Republican
representatives of the two Houses to-
| day, complete agreement was reach
| ed and was later presented to the
| Democratic conferees. 1t was then
presented to the House, where 1t was
| discussed for one hour and passed by
| vote of 166 to 140.
| The bill was hurried over to the
| Senate shortly after 5 o'clock with the
| announcement of the approval OF the
| House of Representatives.
| The conference report was read and
after the reading had been concluded
! Mr.. Aldrich announced that tomorrow,
after the routine business, he would
move to take up the report and con-
tinue its consideration until it was dis
posed of. In reply to a question by
Mr.. Culberson, Mr.. Aldrich stated that
| the Democratic conferees of the Sen
ate and House had not concurred in
the conferees of the House.
Interest attaches to the probable
II, H. .rr,1 oil
SO to the length of time that may be
| required for it's consideration there
The Democratic senators have decid.
ed upon a conference to be held tomor-
row at 10 o'clock.
Washington, May 27.-The confer
eEce report on the compromise cur
rency bill was reported to the House
at 2.35 p NJ. and the time of debate
was fixed at one hour, 80 minutes or
| each side.
Discussing the new bill covered by
the report, Vreeland, N. Y, said that
it represented the unanimous vote OF
the Republican conferees and he en-
pressed the hope that it would be pass
ed by the Republican House. 1--WE be-
lieve," said he, that the Republican
party has not ceased to be a great con-
structive party We believe the cyl
dence is overwhelming that the Re-
\ publican party is still an adhesive par.
ty, with power to place on the stat
ute books legislation that will pre-
vent a recurrence of such disaster
as befell the American people last Oc-
tober"
The bill, he said, was substantially
the bill in its main features that was
passed by the House after a Repub.
lican conference.
Addressing the Democratic side
Vreeland said he anticipated the Keen
est sarcasm and invective from tina,
direction in charging that the con-
ferees had adopted the Aldrich bill and
he said, although the leader of the
minority may run his dagger through
the cloak of the Aldrich bill, he will
find that the body has been removed
from inside of it."
the Aldrich bill. and declared that
though the measure under consider
alton, all the criticisms that lie against
the Aldrich bill standing alone, were
taken away and removed. In it's adapt.
ability to the business of the county
Vreeland said the bill Of the conferees
was a better measure than the Vree-
land bill.
1 A brief explanation of the bill was
made by Weeks, Mass, one Of the
| signers of the conference report. The
securities provided for by the bill, he
said, were protected in exactly the
/ same way that clearing house certiA-
II Gates had been protected and there
was not an instance of a single fail
| ure. Banks would always put up their
best securities not their poorest, wher
asking for clearing house certificates
| of circulation under the bill. Weeks
pointed out the difference between the
Vreeland bill and the one under dis
II cussion.
II Cochran, n. Y. said that an emer-
/ gency was the failure Of banks te
,..icet their Obligations, their lncapacity
to pay their bills over the counter
Such incapacity In individuals, he said
would be called bankruptcy, which
II would necessitate the immediate sur
render of the individuals capital te
creditors and their exclusion from the
ranks of active business. but when
that condition overlook bank, he
/ said, it was not to be considered
failure or bankruptcy, but an emer-
gency. land the government Is to ster
in and relieve it," Il
II Cochran put the question to Burton
1 whether a conference measure was not
intended to enable banks to discharge
In an emergency currency obligations
contracted in ordinary times, and re.
quested a categorical answer.
"No," responded Burton, emphatical.
ly.
The minority leader, Mr.. Williams
addressing the Speaker. said that thu
gentleman never was so highly hon
u..u III all his life as he was today
The bill, he said. ought to have beer
entitled "the Cannon-Aldrich politica
emergency bill. Recently, he said, thu
II II ksxH A