Rensselaer Journal, Volume 12, Number 39, Rensselaer, Jasper County, 5 March 1903 — ALDRICH BILL. [ARTICLE]

ALDRICH BILL.

Financial Measure la Introduced in House Under New Caption. Washington dispatch: Representative Payne, chairman of the house committee on ways and means, introduced the Aldrich bill to permit the secretary of the treasury to deposit government funds with national oanks, with municipal and other bonds as security, but with some few changes swim the provisions of the measure'’ now before the senate. Mr. Payne gave his bill a new title, styling it “A bill to raise revenue from the deposit of public money, for the safekeeping thereof and for other purposes.” Apparently one reason for the change in title was to secure reference of the measure to the ways and means committee. The most important difference in the bill from the measure reported in the senate committee is the provision relieving depositories of the necessity of keeping a 25 per cent reserve against government deposits. Another change provides that in determining the value of taxable of a city street railway bonds shall not be included. The hill was referred first to the committee on ways and means,, but the speaker decided that it should go to the banking and currency committee, and so directed. Chairman Fowler conferred with members of the banking committee after the change of reference was made relative to a meeting of the committee for the consideration of the Payne bill, but no conclusion to call a meeting was reached. It is believed by the Republican leaders that the Aldrich bill is dead for this session. The receipt of a strong protest against the measure in its present form from Chicago bankers has not helped its chances. In the existing condition of the affairs in the house the leaders say they will have all they can do to get the appropriation bills through, and do not hope to pass the Aldrich bill.