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Show DEMOCRATS ATSEA . . OfT FIHARCML QUESTION ;Ln "CimTfriWc ol' .Senators I Develops AV idc Diversify of' "ic as (o Plans. ! j WSfliVGTOX.-.ran. 25. The Demo-eralic Demo-eralic Senators held a conference today for the purpose of trying to agree lipoid r:i policy to b pursued with reference to Ihe proposed financial legislation Tho mooting began at 10 o'clock and -continued well into the afternoon. Speeches were made by almost all of the Spun tors present and developed a wide divergence of opinion on Ihe questions at issue. Several of them, including ; Senators liailey, MVLuuriu and Owen, arc the authors of the bills, and each of them spoke at length in support of his own measure. Senator MeUuirin s bill authorizing the issuance of troasncy notes on the deposit of uo.ttoii 'warehouse receipts was outlined at lenglh by the Senator, who urged iLs adoption because of the standard eh a racier of coil on as a commodity, com-modity, because of -.the ' necessity for I ready, money in moving the cot ton.', crop. i He contended that, the eotiou producer is more entitled to flic favor of the 'Government 'Gov-ernment than shippers who hold slocks and bonds. I Air. Owens brought several - bills, urging lh" use of Government .bonds' as legal tender, limiting speculative, loans by banks and regulating deposits iu banks to the attention of the conference confer-ence and urged their acceptance ut, providing pro-viding a complete system for . t he "protection, "pro-tection, of the public and conservative! bankers. No Action Taken. . I Reassurance was given to certain of the Senators altho beginning of Ihe c.o)itorenc.o that no vote should be, taken and. th.1t there-should )10 nn action of any kjiul that would be binding on Sen-, Sen-, atoTs ovhen it came to consideration of ! financial legislation in the Senate. Sen- j alor Culbort'son, ' the' chairman, said he had called J.he .conference. merely for the purpose ol- ofi'octing an interchange of ideas. ( ' . The report thai he was not 'satisfied wilh. h'uy one measure w.'is 'entirely erroneous. er-roneous. Jfe ,;jnid he had not even read Mr. Bailoy-'u plan 'for an' amendment to the Aldrich bill. Basis of Criticism. .11 js understood that mosi . of the j minority members of the committee- on finance -who nhtonded today '.s conference confer-ence deprecated ihe tendency of certain Democrats to demand legislation in cur- ! rcney matters at this Session of Con-grcssv, Con-grcssv, when it is plainly so improbable I hat any such legislation can he brought lo a slate issue. They maintained Unit inasmuch nn the A Id rich bill is scheduled sched-uled to pass, it is the dulv of t ho Democrats Dem-ocrats lo see that it is put in :ts acceptable ac-ceptable shape as possible; that while' it is a measure which is not computable with Democratic doctrines, and while! they believe it is a measure that will not aitord much actual relief in cur rpney emergency neriods. it will have the eftect to i give the country something of a palliative nature and it will at I least bo an insurance to the people that; nn emergency system exists, whether it is found to bo efficient in its workings or not. |
