Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1910-03-05
ADOPTION OF cuMMiNs AMEND
MENT WORRIES FRIENDS or
ADMINISTRATION BILL, WHICH
is NOW UP FOR PASSAGE.
ROOT PLEADS FOR
PASSAGE OF BILL
NEW YORK SENATOR TAKES oc.
cAsloN TO cRlTlclsE cUMMlNS
AMENDMENT, PRoNoUNciNo III.
WORTHLESS.

| Washington, D. G., March 4.Ths
friends Of the administration postal
savings bank bill did not feel greatly
assured as to its prospects Of passage
when the senate resumed cOnsidera-
t1On OF the measure today with the
idea OF disposing Of 1t during the day,
The adoption Of the pending Cummina
amendment to the Smoot amendment,
i 1t was felt, would place the bill itself
in jeopardy and they were strong In
the opinion that. every other matter
should give way to the Justification Of
the Smoot provision unchanged. Ths
Smoot amendment provides that
when In the judgment Of the prest
dent, war or any other exigency in,
volving the credit of the government,
SO requires, the board of trustees may
withdraw all or any part of the said
funds from the banks and invest the
same in bonds or other securities oi
the United States" Cummins sought
to change the provision 80 rs to make
sure Of its application only in time Of
war.
Senator Root Favors Bill. m
4. Senator Root took the floor today
to urge the necessity Of putting tho
bill on a constitutional basis. Hia
idea was to afford the people an 0p
portunity to invest their earnings, he
said, and at the same time put them,
selves In the position of supporting
their government. With the end in
view Of establishing such system, he
had introduced his amendment pro.
viding for the Investment of funds In
government securities and expressed
the opinion that without some such
provision the bill would be invalid.
"As the bill stands, do not believe
| It can be brought within description
Of any Of the powers conferred by tha
constitution" he declared. He said
he was opposed to the present amend
ments offered to the bill, but as ha
considered it impossible to get any.
| thing better he would be willing ia
accept the smoot provision. but ha
thought that it should remain un.
changed. Cummins' modification he
pronounced worthless.
Raps CUMMING Amendment.
Root continued at length against the
Cummins amendment, and citing tha
position of the banks in times OF panic
when they had lost the confidence Of
| the people, he wanted to know where
the government would be with $780,.
900, 900 obligations to depositors and
without other securities than that sup.
piled by the banks, which could ne
more pay the government than they
could anyone else.
Instead of bankers and brokers go
ing to the wall, the treasury of the
United States will suspend payment
and the credit of the government will
be destroyed" he declared.
Mr.. Cummins' motion, made yester
day afternoon, striking out the words
he had criticised, r-evailed by vote
OF 38 to 81, the insurgents, q few reglt
lars and all the Democrats combining
to defeat the organization Republt
cans. The Republicans who supported
Mr.. Cummins were Beveridge, Brown,
Burkett, Clapp, Crawford, Dolliver;
McCumber, Borah, Burrows, Dixon.
Gamble, Jones, La Toilette, Suther
land and Warner.
/ The feature OF the day was speech
by Senator Dolliver of Iowa, whd
criticised the president for the ad,
mission made by him in his Mil 7aukeG
s,eech that the banks had been "bun.
coed into accepting the 2 per cent
\ bonds, upon which circulation is based
and which grew out of the debt some
ten years ago.
i Mr.. Dolliver showed how remuner
ative this funding plan was to -anks
4 how they had Immediately availcd
themselves Of the favorable terms Of
4 fered, how they profted to the extent
OF many millions, but now were en-
deavoring to make congress b. .eya
they had lost money and had been tho
victims Of nefarious practices.
II -@A~rNH>