Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1907-11-18
In Washington Believed Congress
viii Give More Prompt
Relief.
SURE TO BE VARIOUS PLANS.
Anticipated There viii be Much
Discussion. Especially in
The Senate.
Not Unlikely That the Discussion May
Take Political Turn but
Hardly Expected.

Hardly Expected.
washington. NOV. 1S.--Thore are co
few members Of either house of con-
gross who deal directly with financial
legislation the city that SC Is impossi-
BILE 90 make any prediction as to- what
course financial legislator viii take az
the approaching session. AN who are
here however agree that the condi-
tons are such that something must be
cone and the preponderance of opinion
favors the view that rellfe legislation
will be- more prompt than has hereto
fore been predicted. There are various
opinions as 20 the course that should
be taken, some favoring tho asset sys-
TEN. under which the banks would be
allowed TO use the property as tine
basis OF credit. and others. the bond
system under which the bank issue
could be enlarged only on securities
such as municipal bonds with Tue
provision that they should be approved
by the secretary OF the treasury. The
general idea seems 20 be that the mar
gin Of feasibility should not extend be-
youd rs per cent Of banks capital
and iu any event the enlarged issue
should be SO heavily taxed as 90 drive
10 back after the emergency is passed.
NO OPPOSITION EXPECTED.
one reason for believing there viii
be lltue difficulty in reaching am agree
meut on some basis is found in the fact
that thu so-callcd conservative ele,
ment iu the Republican party is IN
complete accord with the administrn-
ton in the opinion that some form Of
relief is absolutely necessary IN the
present emergency, 20 say nothing OF
possible future conditions OF tho same
character The only practical didicul-
Is which presents itself az this time Is
am agreement on the form of legislation
At the same time 90 is not expected that
anything win be accomplished without
much discussion. especially In the sem
ate where there is unlimited doubt ana
where there are many opinions as To
what should be- done. There viii also
b. found there some disposition TO crit
icise the present conditions
There win also probably De some
political discussion. II is not believed,
however. that the Democrats viii oher
and stubborn opposition. but VIII rather
content themselves In stating their po-
sitlon and throwing the responsibility
fOr action on the party On power.
That the action Of the administration
I'm coming so vigorously 20 the relief
Of tho financial situation VIII ne more
than ample On the direction desired
was the universal comment OF callers
OF the White House today
SOME OPINIONS
Senator Warren Of WvominV said
that tho action taken was exactly what
was needed. ,,, .... OBJ.
alize that there was uo cause for the
ranic and win stop boarding their
money" no added.
'aThev win return TO- the banks
their deposits and business OF the
country will return Co its normal con-
dition. Business IS already improv-
Ing Now 81 will 10 ahead.
"The relief ought TO be almost im-
mediate" was tho comment OF Rep
rcsentativc Ncodham ~ California Il
believe Congress will take up the mat
ter 90 currency legislation an once
with "a view % some accomplishmont
which Will make tho situation impos-
sihlc OF recurrence. So far as ] nave
reen able 90 ascertain the business
Of tho country IS on as sound basis
a. ever That q slight shake In tho
confidence OF the country should
cause a tic-up in the currency Is a
question which VIII need careful con-
sidCration.'
Senator Warner Of Missouri believes
that the bankers viii take the canal
bonds in n hurry. They have e. me
planned Of the lack OF money and
made an excuse 90 dghten up all over
The country Now. I don't see what
excuse they can have for not loosen
ing up
Treasury officials and others most
Convcrsant with national finances and
the currency conditions throughout
the country are almost a unit I'm the
opion that Socy. D1ruyou's announce
mCnt that he would issue 100000
900 In treasury certificates and 500
600 900 in Panama bonds Is "a COM
Ilcto solution nj the present money
problem
kilograms received this forenoon
AZ the treasury department from
leading nuanclcrs in thr great money
centers indicate that this view is gem
eral. and the opinion is expressed THAI
worry large proportion ~ the money
which has been Withdrawn by The
timid depos'tors WIN now bo replaced
H the banks ana normal conditions
be- reached. so FAR as an adequate
money supply is concerned