New-York tribune., 1910-04-23
IRON The Tribune Rnreau.l ]

Washington. April y.
POSTAL SAVINGS BANKS. The Presi-
dent learned last night from The members
OF Congress whom he asked 10 the White
House TO confer on the prospects Of the
postal savings bank bin that its path
through the House was far from streNn
with roses and that. II II can he passed
az all. ii viii be only under the party lash
To that end q caucus was called. 10 be
held rs soon as the interstate commerce
hin is passed. at which an effort will be
made to reach some form of compromise
between the extreme Views OF the insur-
gents as embodied in the Senate bill and
the conservative views OF the regulars.
Representative Weeks told the President
that OF the nineteen members OF the House
committee only two. NessTs. Stafford and
Murdock. were cordially in favor OF the
bill. although majority of TIE committee
viii support IL because Il WAS promised IN
the national platform and because Mr.. Taft
has made IL a part OF his legislative pro-
grsmme. 1t IS believed that = biz can be
got through the House, but il is not denied
that the obstacles are not far from in
superable. The Senate bill makes IL impos-
sibe for the deposits in the proposed hanks
TO be invested in the securities of the
United States, even though they pay an
ample rate OF interest, except in time Of
grave emergency. The local bankers, util-
iZing local sentiment and the bugaboo OF
Capitalization OF funds in Wall Street. have
succeeded in inciting the insurgents TO take
G stand inimical. in the opinion OF the reg
ulars and OF the administration, to the
federal government and 10 good business
principles. II the views of the regulars
prevail in the proposed caucus. il is feared
the bill viii be so amended, by the elimi-
nation OF the provision for the deposit by
the government OF the postal funds in the
local banks. as to ALLEVIATE the support of
the insurgents. on the other hand, IL too
great concessions are made to the insur-
gent view, there is danger of alternating the
support Of the regulars 1t is between this
Scylla and this Charybdis that the leaders,
must steer, but they have pledged them
selves 20 the President TO make an earnest
effort, which. in view OF their personal at
titude toward the legislation. Is a striking
tribute 10 the leadership OF Mr. Taft. The
Democrats purpose solidly 20 oppose the
n easure.
SENATE WILL RECEDE-The Presi-
dent was assured that the Senate would
recede TO some extent at least from the po-
sition it took wnen the postal savings bill
was before that body. II was then re-
ga ded as all-essential to get the bill passed
ami make way for the interstate commerce
bill, 3nd. with the unlimited debate per
missible under the Senate rules. this was
possible only by making such concessions
o the insurgents as would shut off the flow
OF oratorv. IL is insisted by the regular
RepL blicans-and the administration shares
their view-that with the government al
ready paving 3 per cent interest on large
tssue of bonds il viii he folly for il TO
preclude the possibility Of investing the
postal fJnds in such securities. The Presi-
dent was told last night that IL would be
absolutely impossible TO obtain the ap-
proval Of the House for a measure so es-
seltially in the interest of the local hank
ers that which passed the Senate, and
he assented to the proposition that some
material changes he made. The Senators
present declared their conviction that they
could obtain the acceptance Of a conference
report on a much more conservative meas
ure than that which they originally sent
to the House. AMI it is to that end that the
House leaders viii work.
INTERSTATE COMMERCE BIL4L.-At
present the Democratic Senators are fill
clustering on the interstate commerce bill.
their apparent purpose being 10 consume
measure that the Republicans viii become
discouraged and fan TO enact the remaining
measures OF Mr.. Tsfts Legislative pro-