Los Angeles herald., 1910-03-03
FOR
BANK MEASURE
IS LIKELY FATE
HEPBURN SAYS BILL MAY NOT
REACH BALLOT
HINTS SENATE PLANNING RE.
TURN TO COMMITTEE
Carter and Idaho Senator Engage in
Sharp Clash Over Latter.s Pro-
posed Substitution for the
Savings Bank Bill
Associated Pressl


WASHINGTON, March 1.-The ad-
ministration postal savings bank bill
NAV be referred back to the postoffice
committee tomorrow when the time
comes for vote on that measure by
the senate
Senator Hepburn Of Idaho so init
mated in a speech in the senate TO-DAY
on his substitute for the pending Dill.
Whether he would offer the substitute,
he said, would depend upon develop
ments tomorrow.
Il have heard many expressions Of
dissatisfaction with the legislation as
il stands" he said. "A number OF
senators have indicated desire that
the bill be recommitted. that 1t may
have further consideration before we
commit ourselves irrevocably to the
policy of a postal savings system.
lie added that the Republican party
was under no pledge to pass postal
savings bank law at the very beginning
of the Taft administration. There still
would be time for consideration if the
bill should go back to the committee.
Hepburn and Carter Clash
Mr.. Heyburn's speech was followed
by a sharp clash between himself ana
Senator Carter. in charge of the bill
He had begun by suggesting change
of title. and Mr.. Carter charged him
with irving TO change the consttu-
tional character of the bill by altering
the title.
Mr.. Hepburn replied somewhat We
bcmently that he had made no such
effort, and Mr.. Carter undertook to
show that he had done so. While the
Montana senator was speaking, MI
Hepburn sought to interrupt. Mr.
Carter declined to yield.
"I should think he would decline
after such a speech as he has made -
declared the Idaho senator and started
out of the chamber.
And l." retorted the Montana sena-
tor. would think that the senator
would leave the room after such a
! speech as he has made"
Calls Bill Ridiculous
Mr. Carter declared the Hepburn
substitute ridiculous. and said Mr.. Hey
burn had offered il Ito present some
thing different, rather than to present
something better"
Mr.. Heyburn's measure provides for
postal savings bank at the capital
of each state and proceeds upon the
theory that a government savings sys-
tenn is constitutionally permissible only
under the borrowing clause of the con-
sttution.
Defending the constitutionality Of
the Garter bill, Mr.. Bradley said that
those who We're attacking il were Of
the same party that had cOntended for
the right of rebellion. If" he said
they could have had their way, the
union would have been in the condition
Of John Sloat, who was killed by a
train in the west. His father wired,
Send his remains home, the response
coming promptly, There amt none "
He asserted that none of dire Demo-
cratic predictions against the various
Republican measures had been realized,
and he predicted that nCne would be.
Would Stay Panics
Mr.. Sutherland also defended the ad-
miuistration bill, both as constitutional
and as expedlent He said a postal
savings system would aid to prevent
panics. but this statement brought out
a series of questions from Mr.. Hale,
who said he was fearful that the effect
of the proposed law would be bad on
other banks in time of panic. He
feared, he said, that it would cause
timid depositOrs in the ordinary saw
ings banks to withdraw their funds and
deposit them with the government.
Mr.. Carter joined in Mr.. Sutherland's
response. They agreed that money
taken out of banks for deposit in pos
tai savings banks would Immediately
find its way back to the ordinary
banks. They also brought out the idea
that the limitation on postal deposits
would protect regular banking institu-
tions,
With the conclusion OF Mr.. Suther-
lands speech, Mr.. Smoot presented
the amendments to the bill previously
agreed upon by the Republican man
ayers. Further consideration of the
measure was postponed until tomorrow.