The Birmingham age-herald., 1913-08-21
SENATE PLANNING
TO MAKE CHANGES
IN CURRENCY BILL
Chairman Owen Confers
With President on Situa-
ton = Tentative Sug-
gestiOns Made

Washington, August 2O.-while demo-
Gratis of the House were threshing out DIFF
ferenees over the administration cur
rency bill in caucus today. Chairman
Owen and his democratic associates on
the Senate currency committee began the
consideration of possible changes to be
made in the measure when 1t is taken up
in the Senate Senator Owen visited the
White House early in the day and held
a short conference with the President. lie
made it clear later that he expected to
he held himself free to recommend such
changes as he considered advisable. His
suggestions yesterday to members of the
committee that changes might be neces-
sary in the pla nfor regional reserve banks
occasioned general comment in congress
sional circles today.
The meeting of the democratic commit
tee today brought out number OF tenta-
tive suggestions for amendments but
no definite plan of action. Senator Shaf-
roth and Senator Hollis, at the conclusion
of the conference, expressed confidence
that currency measure would be passed
at the present Congress, and Chairman
owen said there was "no doubt of it,
Il believe we will perfect a bill that
will be satisfactory to tho adminstra-
tion," said Senator Hollis ST expect to
support what is known as the adminis-
tration bill, but the Senate would not
think it had done its duty if it did not
improve it."
.es.4
the Senate committee today was one by
Senator Shafroth to drop all present forms
of paper currency except the silver cer-
tificates and replace them with treasury
notes secured by so per cent reserve
fund; and another by Senator Reed to
have the treasury issue money directly to
the banks under careful restrictions.
Approves Suggestion
Chairman Owen opposed suggestions for
the adoption of a plan similar to that
embraced in the Lea bill now in the SEN
ate, which would amplify the present AL
drieh- -vreeland emergency currency law
He insisted this would commit the demo-
cratic party to the Aldrich-Vreeland plan
and would be politically Objectionable;
and that it would contemplate the is
suance of notes by the banks. a form of
currency that he strongly opposes.
The House caucus completed general
debate, and will begin the reading of the
administrator bill and the consideration
of amendments tomorrow. The measure
has now been before the caucus more
than a week and it's consideration prob
ably will not be completed for several
days.
Representative Henry introduced in the
caucus today his amendment to author
ize specifically the federal banks to re-
discount notes or bills secured by ware
house receipts or liens on agricultural
products. A similar amendment will be
reported by the banking and currency
committee. b
Before the bill passes the House and
reaches the Senate it is expected that
democrats of the Senate committee viii
have agreed upon a general plan of cur
rency reform and will invite the repub-
lican members to join them in the discus
sion of prospective amendments to the ad-
ministration bill.
Chairman Glass of the banking and
currency committee, brought todays ses-
sion of the House caucus to q close
with a vigorous speech denouncing and
ridiculing the attacks on the admin
istration bill by democratic insurgents.
He defended the disputed features of
the measure. declared that the propo-
sitions of the insurgents" were alb
surd and finally vainly offered to yield
part of the time allowed for his speech
to anyone who wanted to answer his
assertions.