Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1908-05-27
Republicans Appear Pleased
With Composite Of Aldrich
and Vreeland Bills
TIME LIMIT PLACED ON PLAN
Democratic Opposition to Passage of
Bill Will be Weak-Minor Matters of
Detail Vet to be Adjusted-Restric-
tons Thrown About Emergency
Feature.

Washington May Enlargement on
the essential features of an emergency
currency measure was reached late
last evening by the republican mem
ence committee. The finishing touches
to what will be a composite of the
Vreeland and Aldrich bills will be
adopted today, and the measure then
will be formally acted upon by the full
conference committee. 1t is planned to
put the conference report thru the
house this afternoon. In the senate
the compromise measure must run a
gauntlet of discussion that may last
two or three days. Later develop
ments indicate that the democrats of
the senate will not attempt a filibuster
designed to prevent final action and
the passage of the bill and the adj
journment of congress before the end
of the week are generally regarded as
probabilities.
The fact that the emergency cur
reney provided for is to be temporary
in haracter-designed solely to meet
any unexpected financial situation
that may arise, pending action on the
report of the commission which is ito
devise permanent system, will be
emphasized by placing a time limit on
the provisions of the prospective law.
There has been no definite settlement
as to the life of the measure, but In
any event it will not be longer than
five years, and it probably will be
much less Senator Aldrich is under
stood to favor the fve-year limit. but
others on the conference believe two
or three years at the most Will SUI
flee. BY putting such time limit as is
proposed on the law, it is felt that the
fears as to the establishing of princl-
pies inimical to stability of the cur
rency system of the country will be
allayed
There are principles-conf1ictin
principles-involved in the Vreeland-
Aldrich plan with which no supporter
of the bill in either house can be in
full accord Nobody is getting just the
measure he would like in the compro-
mise, but congress as a whole is re-
iieving the apprehension of the masses
of the people by supplying something
that will serve as an eXpedlent unlli
comprehensive legislation, requiring
many months of investigation and de-
ilibaration, can be enacted.
Matters of relatively minor detail
are all that remain to be adjusted in
order to give practical assurance OF
action on the most important issue
that has commanded the attention OF
congress since it convened last De
cember 1t was announced after the
final meeting between Senator Aldrlcn
and the republican house conferees
Yesterday afternoon that the redemp-
ton and reserve features OF the two
bills that have been in controversy
were to be adjusted to fit each other.
These matters for some time formed
one of the hardest problems, but
substantial understanding was
reached ultimately 1t is understood
that the provision will be made OF 10
instead of per cent redemption
fund.
Senator Aldrich from the start has
stood for the so-called financial banks,
the hanks which hold bonds to a great
OF. extent than other banks-Whlle the
house leaders have stood for the COM
mercial banks, whose assets are mostly
represented by the class of securities
made available for circulation by the
provisions of the Vreeland bill. In ar
irving at a compromise the idea has
been to give each of these classes OF
banks a fair show in taking out ad-
ditional circulation in time of emer-
gency
In the event that an emergency