Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1913-10-17
SENTIMENT AMONG, FlNANclERs
OVER CURRENCY BILL IS
DIVIDED.
SENTIMENT IN IOWA
NOT ALL ONE WAY
Bio Bankers Who Operate in National
Reserve csnters Vigorously Opposed
to Glass Bill, While Majority OF
Country Bankers Favor lt-Nationa'
Citizens League Backs Measure.
Special to Times-Republican.

Special to Times-Republican.
Des Moines. Oct. l7.-Iowa bankers
returning from the national meeting IN
Boston fail to convey the impression
that the bankers as 4 class are united
in their protest against the aolnihls-
tratien banking and anti panic OH. II
seems that there were some differences
among the delegation from TINS state
and wide differences were clscloseu a.
one place or another. 1t Is stated th'l
in this state, generally speaking. the
big bankerS-thoSe who operate III ehe
natural reserve centerS and carry large
lines OF reserves from the small coun-
try banks-are very mucn more op-
posed to the bill than are the Smaller
bankers, and especially are the! OPP
posed to what is called the compulsory
subscription to capitalization feature.
An interesting phase or the ieFii'ehe
which centers around the panh'hs
measure is also disclosed here the past
week. It seems that the posiuoh 'aAsh
officially by the bankers is not ap-
proved by the organization "sich hao
more than any other to 60 with max
;ng nossible some banking reform leg
islation-the National Cit:Ze-'s' league.
Thi, is an organization q big business
roen. not bankers. The moving spirit
IL I>ros 7 Laurence Laughlln. OF the
Chicago University. recognized auth
GRITTY on theoretical finance, who start
ed the campaign for reform Dill III
Iowa by a notable address before
local aggregation of business men -
Des Moines nearly two years ago:
Robert Fleming, OF this city, heaoeo
the state organization of business men
This organization, contrary 20 "ha'
has sometimes been represented, "o.A
ed not for any one bill but Tor Din
that would start reform. It was con
cerned solely in arouslns puoi!c SEM
raert from the standpoint OF the ousi-
ness interests so that when the time
came for action there would De an IN
;,,elIipent and well informed public
hack of the congressman in their
effort to work out q remedy lot re-
cogn;zed and long existent evils.
Citizens League For 6isl.
This National Citizens League Is
virtually standing back OF the GLASS
bill but is endeavortng TO secure nooi
fca,icn Of some Of its features. Mos'
important. however, is the oeciaratioi
which comes from the legislative com
r,i,tee TO members OF The league mere
to the effect that banking reform !es-
islat!cn is not in conoition OF Hss-
te-ia, but on the contrary that progress
tas been made IN the senate committee
considering the bill, that senators no"
have a good understanding OF the
measure, that President Wilson is CIV
ing practically all his time to the oii!
and is "endeavoring to learn just what
amendments the senate committee &C.
s;res and those that are reasonable IN
his view will have his approval. IRIS
is the citizens league statement OF the
good points in the Dill:
In operation /: vii. bring such nee
essary results as:
Modified reserves.
Elastic credit.
Elastic currency.
An open market for commercial
paper.
Control OF gold supplies.
Foreign banking facilities.
1t will also prevent panics, relieve
business, and keep commercial money
from the cali loan market.
Prefers One Central Bank.
The citizens league, however. takes
the view it IS untcrtuna-e that instead
of one central bank twelve are pro-
POsSO h.i-Sil " ScnO-iS ttiS oNAI'Aiat e1AAN
teopardizes success. It is declared that
probably twelve banks Of $4,000. 600 or
more capital can not be organized. The
number should be reduced TO five at the
start.
There is also opposition to compul-
sorry exchange at par. and to making
the note issues obligations OF the gov
eminent. The notes should be redeem
able in gold not lawful money"
The asking appears to be from the
business men, not that the bankers
control the reserve banks but that they
have minority representation on the
various boards.
The league opposes compulsory
membership.
The league urges that business men