Evening journal., 1909-08-05
Thursday, August 3. 1909
MONETARY COMMISSION.

hCTOBER of next year will again Con-
~ gress in special session, if the present
plans OF the administration and OF the Congress
siona leaders are carried out. The purpose OF
calling Congress together in advance Of the
usual time will be to consider the report of the
National Monetary Commission.
Senators and Representatives who are mem
bers of the body have had their time so occu-
ped by the prolonged tariff discussion that they
have been unable to give much attention to the
work OF the commission II has therefore been
decided that no attempt shall be made to pre-
sent report to the regular session which will
begin in December of this year 1t is realized
that the subject will provoke extended debate,
and in view of the fact that the regular session
of Congress which will meet in December, 1910
will expire by limitation in the following March,
giving practically only three months for the dis
position OF appropriation bills etc. An extraor-
dinary session will be necessary il 1t is desired
to secure action upon the Monetary Commis-
sons report.
That report will be in two parts, the first re-
lating to changes considered necessary in the
banking regulations and the second TO funda-
mental changes in the financial system. Experts
have been employed both here and abroad in
preparing reports and tables covering every
phase of banking and currency
The commission has had the assistance of the
heads OF the Bank OF England and Of the great
State banks in France, Germany and other coun-
tries tndt nave tuTnSlCu monographs on AilN
various subjects involved. 1t will take some
time to digest these and TO apply suggestions
which they may contain to conditions in the
United States
The changing relations of silver TO gold in the
commerce OF the world will form an important
part of the report 1t is realized that there is a
wide divergence of opinion among bankers as
we'll as politicians in this country on this sub
iect and it is expected that a campaign of educa-
ton will be conducted through the press and in
other ways before the matter is submitted to
Congress. 1t is announced that Senator Aldrioh,
chairman of the commission, will make public
addresses on the question next fall in some OF
the important cities of the country
One interesting result OF the decision not 10
bring forward the report of the Monetary Com
mission at the regular session of Congress be
ginning next December is that it will leave the
wav clear for the consideration of many I'M
portant matters which President Taft has IN
mind and which it had been feared would have
been crowded out by that report Among these
arc plans for the further control of corporations
. through publicity Another is the rcorganiza
ton OF the Interstate Commerce Commission SC
as to leave that body semi-judicial functions
only and transfer the administrative part of it;
work to the Department of Commerce and La
Dor There will also be opportunity to SC
change the commodities clause of the railroad
rate law as to make it conform to the decision o
the Supreme Court and prevent railroads from
transporting coal and other articles produced by
companies in which the railroads have stock in
terests.