The Montgomery advertiser., 1908-05-26
TO DOVETAn BILLS
CURRENCY LEGISLATION NOW IN
 THE LIMELTGHT.
A Movement IA on Foot to Pass BtlI Which Contains Principal Fea- lures of Aldrich and Vree-
 land Bills.

Washington. May 25.-Currency leg islation was the chief topic between leaders of the Senate and House today. The revival of the discussion came un- expectedly and led to all sorts of ru- mors of probable agreement between the conferees on the Aldrich -Vreeland bill, looking to the enactment Of measure at the present session.
 Many Republican members of the House do not seek to disguise their fear that If Congress hould adjourn without passing an emergency curren- cy bill, the failure to take action would be disastrous to the majority This fear was emphasized by Representa- tive Bartholdt of Missouri Chairman of the House Committee on Public Build ings who declared that he would not submit his conference report on the omnibus buildings bill until financial Legislation had been assured. His ac- tion holds the buildings bill in which 316 members of the House and many Senators are interested, over the heads of "any recalcitrant" 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 impress sion given out by many leaders that there Is no hope for action at the pres ent session is for the purpose of arous- ing the country to demand action be- fore adjournment. Early in the day the report was circulated in the House that there was a movement on foot to "dovetail" the Aldrich and Vreeland blHs,- retaining the principal features of each.
 The effect of this course would be to permit individual banks to take out emergency circulation on government t, state, county or municipal bonds, or as an alternative proposition to take out emergency circulation on commer- cial paper to be guaranteed by bank s of d clearing house association as pro- vided by the Vreeland bill. It was the idea in the House that this provision could be amended so as to be accept able to the Senate by defining the character of the securities, such as pre- scribing that they shall nave two en- | dorsers, and not run for more than | ninety days. It was suggested furth CT that the emergency circulation meas ure should not operate for more than three years. and that in the meantime l there could be a general revision of 1 the currency and banking laws.
 l No sooner had this scheme for com | promise reached the Senate than the | Democratic leaders served notice or | Seantor Aldrich that they were ready to talk for a month to prevent any fea' 1 ture of the Vreeland bills becoming { l law. Although Speaker Cannon wal supposed to father the compromiss ss movement. 1t met with decided opposi. tion in the House. Representative | Burton of Ohio. one of the Republican conferees on the bill, had opposed thS Aldrich measure and was pledged to considerable following to do all ht could do to prevent the adoption oi any of It's principles.
 jp hah he. t. Senate will not yield and they are no so likely as the Republicans to ''bt starved out" by the holding up of thu | public buildings bill and that Repre sentative Burton and his followers fl 1 the House cannot be persuaded to ac cept the Aldrich bill, the chance fo | Legislation Is slim. It is in such a con tingency that. according to the belle of many, public demand is expected t, play a strong part. When the Aldricl bill was passed by the Senate Speake Cannon was thought to favor 1t and h. may not be wholly averse to its adop ton at this time. Public demand therefore. may be directed at MT. Bur ton and those who believe with hin that 1t would be better not to have an, legislation than to accept the A1dricl bill.
 That Speaker Cannon entertain hopes that there will yet be an agree ment Is indicated by the fact that tn Sergeant-a Arms of the House Is ad montshing members not to- leave tn city until final adjournment has bee decided upon and in some cases mem
 bers who have already gone home hay
 been asked to come back.