Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1907-11-18
SURE TO BE VARIOUS PLANS.
Anticipated There viii be Much
Discussion, Especially in
The Senate.
Not Unlikely That the Discussion Nay
Take "a Political Turn but
Hardly Expected.

Washington. nov. 18.-Thore are 60
Few members OF either house OF Com
gross who deal directly with financial
legislation ia the city that &c is impossi-
bic to make amy prediction as to- what
course financial Legislation win take az
the approaching session. An who are
here, however agree that the condi-
tons are such that something must be
cone and The prcpouderance of opinion
favors the view that relife legislation
win be more prompt than has hereto
fore been predicted. There are various
opinions as 20 the course that should
be taken, some favorinE tho asset sys-
tenn, under which the banks would be
allowed 10 use the property as tine
basis Of credit and others. the boni
system under which the bank issue
could be enlarged only on securities
such as municipal bonds with the
provision that they should be approved
by the secretary of the treasury. Tho
general idea seems 20 be- that the mar
gin OF feasibility should not extend be-
y0ud rs per cent of banks capital
and iu any event the enlarged issue
should be so heavily taxed as 10 drive
IT. hntk AFTER the tllltl sNlAlA DE- N'iH'thAs
40 OPPOSITION EXPECTED
one reason for believing there viii
be liJle difficulty an reaching au agree
meut on some basis is found ln the fact
that tho so-Called conservative ele-
ment On the Republican party is in
complete accord with the aGministra-
ton 90 the opinion that some form u
relief be- absolutely necessary In the
present emergency, 70 say nothing ~
possible future conditions " the same
character. The only practical diaicul-
" which presents itself az this time Is
an agreement on the form OF legislation.
At the same time 81 Is not expected that
anything viii be accomplished without
much discussion, especially In the sem
ate where there is unlimited doubt and
where there are many opinions az 10
what should be done. There viii also
be- found there some disposition 10 crit
iCise the present conditions.
There win also probably be some
political discussion. II is not believed,
however that the Democrats will offer
and stubborn opposition. but VIII rather
content themselves In stating their po-
sition and throwing the responsibility
for action on the party in power.
That the action 81 the administra ton
in coming so vigorously 90 the relief
OF tho financial situation Will be more
than ample IN the direction desired,
was the universal comment OF callers
1T the White House today.
SOME OPINIONS.
Senator Warren Of Wvomine said
that the action taken was exactly what
was needed
The people at large will now re-
alize that there was no cause for the
panic and will stop boarding their
money" no added.
They VIII return 10 the banks
their deposits and business OF the
country will return 90 lbs normal con-
dition. Business rs already improv-
Ing Now 20 win 40 ahead
"The relief ought TO be- almost 'm-
mediate" was the comment Of Rep
rcsentativo Necdham Of California. II
believe Congress will take up the mat
ter OF currency legislation at once
with a view % some accom- nh9hment
which will make he situation impos-
siblc OF recurrence. So FAR az } have
reon able 20 ascertain the business
Of tho country IS on as sound basis
as ever. That a slight shake in tho
confidence Of the country should
cause tie-up ln the currency IL
question which win need careful cone
sideration."
senator Wawor or Missouri believes
that the bankers viii take tho canal
bonds I'm a hurry. They have &, m-
planned OF the lack OF money and
made an excuse 90 dEhten up an over
the country. NOW. / don't see what
excuse they can have for not loosen
ing up"
Treasury Officials ana others most
conversant with national finances and .
the currency conditions throughout 3
the country ere almost unit in the I
opion that Sccy C1rtlyou's announce I
mCnt that ne would issue 100000 |
900 In treasury certificates and $50 .
600 900 in Panama bonds Is COM I
; lote solution of The present money /
! problem.
kilograms received this forenoon /
at tho treasury department from
leading nnanCiors boz tho areat money .
ccnters indicate that this view Is gem
eral. and the opinion is expressed thar .
"a very large proportion ~ the money .
which has been Withdrawn by Che .
.imid depos.fors WIN now ho replaced /
Jon the banks ana normal conditions /
be- reached so far as an adeguafs
money supply is concerned