Brice And Cleveland Confer

Senator Brice was in consultation with the president for two hours Tuesday on the then pending currency bilí. Brice, it is understood, pointed out various phases of the question as they presented themselves to h.'m as a business man. He dwelt especially upon the possible lack of wisdom in cnucting a law providing for a low rate bond and repealing the existing law. "Under the present law," he said to Cleveland, "yon have the power to sell an unlimited numbor of 5 per cent. bonds. There has been soine disposition to quostion this authority, but it bas been exercisod and it lias not ljeen questioned by congress. "A now law changing the rate of interest to :i per cent. and limiting the issue might in ïv.uüty embarra rather than relieve. Suppose the low rate bonds are not accepted by tho public - us they are apt not to be if thrown upon the country in any large blocks - won't the fact that it is known that other issues aro to follow probably reinier it impossible to sell the bonds at the low rate provided." The senator also pointed out what he believed would be the evil effect of drawing in the $340,000,000 worth of greenbacks. He said that this course would produce such a contraction as wo uld f orce the repeal of the law ór at least the stoppage of its operation wlthln a mouth's time. He also expressed the opinión that so f ar as the revenue was oonoerned the existing tariff and internat revenue laws would brlng it up to the requiRile sum by the middle of noxt spring. ït is understood that while tlio president llstened with apparent interest to the senator's representations, he did not hhnself expresa an opinión on the subject.