The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1907-11-20
TO EXP AND LIST OF
SECURITIES FOR
CURRENCY
President Outlines Plans in
Congress Message
DOCUMENT SENT TO PRINTER
Outlook For Effective Relief Is
Considered Brighter Than Ever
Before.

WASHINGTON, Nov. 20.--President
Roosevelt's message has been sent to
the public printer. The document, ex-
pected to be the most important OF Its
kind produced during this administra-
ton, is completed and In the shape in
which 1t will be laid before congress
The message places the demand for
currency legislation In leading place
among the measures whose enactment
is asked. More than this, 1t does not
deal with the subject In generalities,
but presents a specific plan for the
consideration of the lawmakers. Inn
pressions that the president would not
outline a specific plan in the message
are thus proved unwarranted. Instead,
the president tells congress what meas
ures he believes necessary and desira-
BILE and asks that they be passed.
The specific recommendations made
are not announced. and the greatest
secrecy Is observed concerning them.
The fact. however, that the weight of
executive approval is placed behind Il
specific plan r. considered by the pres
dents advisers and In financial cir
cles as highly significant and as indi-
eating the earnestness with which Mr..
Roosevelt will press for quick action.
The chance OF forcing congress 10 an
agreement is thought 10 be much bet
ter when the president shall have pre-
sented TO II somewhat detailed pro-
gramnie.
The cabinet is said to be agreed that
the measures will serve the purpose
of quickly restoring normal business
and financial conditions. There has
been communication also with some
legislators who, while not yet in Wash
ington. are certain to have large in
fiuence in determining the action of
congress, and the impression is strong
that something like plan of action
has been agreed upon so definitely that
Its adoption, is to be regarded as pref
ty well assured SO far as assurance in
advance is possible in any matter of
legislation.
The outlook for prompt and effective
relief is considered brighter than ever
before. 1t is understood that the pres
ident has handled the situation with
out gloves in his address to congress
and has made plain that no excuse can
be accepted by the country in the pres
ent condition of affairs for delays and
bubbles.
While nothing like an intimation is
to be had on authority as TO the legis-
lative outline proposed by the message
It is understood on good information
that general asset currency Is not IA
vored, the president being understood
to oppose this. He wants. 1t is declar
ed, segregated assets Of unquestiona
BILE value and security to represent cur
rency issues, together with such q
guarantee scheme as shall make every
dollar Of the new circulation as good
as II It were based on gold.
The understanding Is that the plan
will be found to involve large expan
sion of the list of securities against
which currency may be issued. This
is likely, 1t is said, to include the ap
proved securities accepted now from
banks which receive government de
posits.
Beyond this there is understood to bt
recommendation of some changes In
the present law governing federal de
posits in national banks with view
to establishing guarantee fund fol
these deposits also.