New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-03-05

POSTII BANK UEB.4TE'
Pleads for Constitutional Meas
uTe--Nay Fote To-day.
t,-rorn Tne 7,riprnc Bureau. !


Washington March 4.-Foc more than
rre fo,irs to-day the Senate debated the
;,oxteI savings bank bill. The debate
Warmed I'D half q dozen Senators who had
Tot intended 10 speak anu delayed until
Tomorrow the final vote the passage
{. the bill Late this afternoon the Re
,,,initcar leaders expressed confidence that
tne1 wojid have enough votes TO adopt
tl,e Sn1oot amendment. which authorizes
re board Of trustees TO invest postal saw
fncs funds in government bonds when, in
the Judgment Of The President war any
other exigency involving the credit of the
government so requires. 1t is admitted
that The vote will be close on Senator
,'ummins's substitute 10 limit the right Of
the trustees TO invest postal funds in gov
eminent securities 10 time Of war.
The debate to-day was fast and furious.
II Was expected that vote would be
taken late This afternoon. but one OF the
Republican insurgents decided that he
wanted 10 talk at some length. and init
mated that he might start filibuster I'M
iess a recess until tomorrow was taken.
Accordingly, shortly after O'Clock, Sen
stor Carter moved that a recess be taken.
Senator Roots Speech.
The most notable speech of the day, II
rot Of the session, was delivered by Senator
Root. who made an impassoned appeal
% Senators TO disregard all personal and
political considerations and vote for bill
that would be constitutional and would not
impair the credit of the government. MIR.
Root spoke with great earnestness and at
times with such feeling that his voice
dropped almost to a whisper. Near the
close Of his speech he left his place and
advanced 10 the space in front of the Vice
Presidents desk. The New York Senator
directed his remarks 10 two main features
@ the bill. First. he criticised an amend
neut adopted yesterday by a combination
O. Democratic and insurgent votes which
struck out the provision authorizing that
en- adequate reserve be maintained tc pay
postal depositors Secondly. he took the |
rostion that unless the bin was modified |
along the lines proposed in the Smoot |
amendment 81 would be piece OF useless 1
legislation and would be overturned by the /
courts as unconstitutional
Mr.. Root said his idea was 10 afford the I
ings. and at the same time put themselves
in the position Of supporting their govern
nent. With the end in view of establish
ing such a system he said, he had intro
duced his amendment providing for the in
Hestment of postal funds in government Sc
cTrities, and expressed the opinion that
some such provision the bill would
be invalid.
AS the bill stands, do not believe that
i can he brought within the description of
any powers conferred by the Constitution"
be declared.
He would not say that the plan o. which
the Senate was proceeding was not capable
nj being embodied in legislation. but that
&c embodied in the present bill it was
neither wise, prudent nor constitutional
The whole scheme was 10 provide for a
-vsteTn Of deposits in the postoffices and of
The redepost Of the funds in a neighboring
bank and Of keeping them there until re
turned 10 the depositor. the government of
the United States merely acting as the
agent and guaranteeing the deposit Such
system was widely different from any
postal bank or any savings bank that ever
had been known. he said, and he did not
believe il would commend itself 20 the bust
ness community. On the other hand, he
bought that either his amendment cr Sena- :
or Barton's amendment. both OF which look
10 the investment of the postal funds in
government securities. would bring the sys-
EN- within the borrowing power OF the gov
eminent and furnish q clear constitutional
oasis for the legislation Nj Shoots
amendment was the furthest extent toward
which The committee had felt able 10 go
n the direction which he had thought nee
'sSary
1t is not satisfactory to me-" he said.
II does not go IL the extent that I wish
I should hui I think il does furnish a prob
able constitutional basis to the law. as it
'u1s the deposits in such a position that
he government can call on them whenever
o. has real need"
FOR this reason. and especially as he con- :
'cered 1t impossible TO get anything bet :
eT. be said he would be willing 10 accen, a.,
~ Smoot provision. but he thought il :