The Montgomery advertiser., 1908-04-18
TABLES THE
 ALDRICH BILL Unfavorable Action by
 House Committee. NO REASONS TO BE GIVEN Vreeland Measure Win Be Con-
 sidered as Substitute. TabIinE of AIdrieh Bm Will Result ia Currency Legislation Being Per-
 fected by Conference of House and Senate.
NO REASONS TO BE GIVEN

today voted unanimously to table the Aldrich financial bill It also was de- cided to give a hearing tomorrow to Representative Vreeland, of New York. who recently introduced financial bill which is looked upon as a substitute for the Aldrich measure
 Tha discussion in the committee was brief. The only point debated was as to whether or not the committee should make formal report. giving reasons to the House for it's unfavorabie action and the conclusion finally was reached that no reasons should be given. Conse- quently the committees report will he a mere statement of the action of the committee.
 Of the nineteen members of tho com mittee. thirteen were present at to- days meeting.
 The vreeIand bill. introduced in the House last week as a substitute for the Aldrich bill, and which 1t is understood Is to be considered at a Republican caucus to be held next week, was not considered nt today's meeting of the committee. It was decided, however. to give a hearing tomorrow to Repre- sentative Vreeland.
 Chairman Fowler and other mem bers of the committee. refuse to he quoted as to the probable fate of the Vreeland bill. but the opinion seemed to prevail that 1t would follow in the wake of the Aldrich bill
 The bill introduced yesterday by Chairman Fowler providing for a cur- rency commission will also be constd- cred at the meeting of the commit tee tomorrow. The commission tdea apparently has many friends In the committee.
 A nearing also will be granted to Representative Lowering on his bill to Incorporate the Sovereign Trust Com many of America. Two other measures will receive consideration at this meet Ing,, the Dalxell bill. making mts- denleanor to circulate false reports regarding national banks, and tne Freedmans banks bill, recently passec
 May Held Conference.
 The tabitng of the Aidrich bill will result in currency legislation beipg per- fected by conferences of the two branches of Congress if the House car ries out the probable program or now passing the Vreeland bill. Tn that event. the House measure would come to inc Senate. all after the enacting clause would be struck out and the provisions of the Aldrich bill substitut- ed. The effect would he to put both the Vreeland and Aldrich bills Into conference, and from them a currency bill would probably be agreed upon
 The Vreeland Dill IS not hostho n character to the form of Legislation provided by the bill which was passed by the Senate and therefore tho action of the House Committee on Ranking and Currency, in the event its course is followed by a favorable report on tho Vreeland bill as a substitute. does not indicate that there will be no eur' rency legislation at this session Of Con" rress. as the House probably will pass that measure Representative VTee- land, in drafting his bill. made moro provision for the use of commercial paper and all other securities held by national banks under the national bank act as an additional class of securities. If is expected that the Senate confer. ees will make a strong fight Tor inc retention of the Johnston reserve feature. but there Is little prospect Tor the adoption of the LaFolette amsnd' ments.
 Representative vreeland is not member of the House Committee on Banking and Currency. yet # Is ex- pected that if his bill Is passed. he wih he ono of the House couferees It P not unlikely that Representative Sur ton would be another. and the Demo . cratic member. a man who is favorable to legislation along the lines or the Aldrich-Vreeland proposition.