Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1908-01-20
Currency Measure Will Become
a Law, With a Few Amend
mentS
FAIR DIVISION OF BENEFITS
Representatives Efforts to
Secure Deposit Guarantee Will
Probably Fail - President Favors
Bill With Certain Changes = West
10 Divided in Sentiment.

congress is beginning to crystalize on
the subject of currency legislation, and
all signs are pointing to the passage
Of the Aldrich bill, with certain more
the senate committee is now perfect
ing. AS soon as these amendments
can be whipped into shape, the bill
will be reported to the senate, prob
ably by unanimous vote of the COM
mittee, and 1t will pass that body with
out unnecessary delay.
When the bill, having passed the
senate, reaches the house, there will
begin q hot fight between the banking
and currency committee, of which Mr..
Fowler Is chairman, and the ways and
means committee, of which Mr.. Payne
is chairman, for jurisdiction and cons
troll of the bill, and 1t is a pretty safe
guess that the ways and means COM
mittee will win out. The house lead
ership will favor Mr.. Payne, for it con-
trolls the ways and means committee
and does not control the committee
ON banking and currency.
There viii be some excuse for maxi
Ing this reference. for the bin affects
bonds and revenues generally, SUBJ
jects which the ways and means COM
mittee considers, and over which 1t has
legislative control.
It may be depended upon that the
ways and means committee will report
the bill substantially as it goes thru
fh. 10 all
sition to the bill, which is largely con-
fined to the middle west, so far as the
republican party is concerned, will be-
come active, and that activity VIII
without question, bring about con-
ference of republican house members
at which the two sides Will measure
strength. This conference will be held
behind closed doors, and probably will
be long drawn out Vigorous addresses
will be made, and, so far as can now
be discovered, forces which favor the
bill will be in the majority.
This will mean that the middle west
opposition must take its medicine or
join hands with the democrats to de-
feat the bill. This latter course will
hardly. be pursued, on the eve OF a
presidential campaign.
After the conference the bin will
come before the house with special
rule for its consideration, the roll to
be called at specified time. On the
roll call a majority will support the
bill, which will then so to the Tpresi-
dent.
President Favors Measure.
On high authority, it may be said
the president looks upon the Aldrich
bill with considerable favor. He thinks
that it should be amended in certain
respects, and amendments which are
now pending before the senate COM
mittee for the most part meet his
views. It may also be said that the
president regards the Fowler bill as
being step backward.
The bill will not contain any pro-
visions for insurance of bank depos-
it's. Senator Nelson, who has offered
an amendment looking in that direc-
ton, says that not to exceed two mem
bers of the senate committee are IN
favor Of such provision. His opinion
is reinforced by that of other mem
bers who have offered amendments OF
the same general character.
Senator Bailey of Texas has offered
an amendment to the bill which. 1t Is
believed, the committee will accept.
He is now reducing it to writing and
will lay it before the committee soon.
1t will provide for dividing the coun-
try into districts as nearly equal in
population and wealth as possible. the
emergency currency Of the bill to be
apportioned to these districts in equal
amounts.
The purpose Of this amendment will
be to prevent New York from gobbling
up this currency. Senator Nelson says
he regards this amer snent as correct
ing one Of the major objections to the
bill.
The opposition of the middle west to
the bill is not unanimous. Speaking
broadly, the country banks Of that
great section are opposed to it, while
banks in large cities are either indiffer-
ent or inclined to favor it. The same
thing is true of the proposition looking
to a guarantee Of bank deposits by the
government The country banks favor
it and city banks oppose it. This di-
vision of sentiment in that part of the
country where real opposition to the
bill is centered, probably will make it
difficult to create a formidable in
surgent movement among house repub-
licans following the Endorsement of the
bill by the republican house confer
ence.
Banks Support Delegation.
Members of the Minnesota delega-
ton received copies of resolutions
adopted by the Minneapolis clearing