Evening journal., 1913-12-22
HOLD-UP OF
MONEY Bill.
AGAIN! AGAIN! TODAY
By The United Press.


WASHINGTON, D. c.. Dec 22-
Prospects for action in the Senate and
House today on the compromise cur
rency bill, framed by conferees, ap-
peared dim this afternoon. when Re
publicans indicated that they might
object TO a suspension of the rule re-
quiring that conference report lay
over one day before being called up
The Republicans we're up in arms
against the action of the majority ia
excluding the minority members from
all conferences until the Democrats
had framed a bill to their satisfac-
Urged as a nor partisan measure,
they said the Democrats we're not
pushing the currency bill through as
a strictly party bill.
Formal report of the conferees was
expected to reach both houses OF
congress late this afternoon. Adop-
tion tomorrow was scheduled
In the Senate, a bitter fight may de-
yelop on the committees action in
eliminating the upper houses provi-
sion for a guarantee of bank deposits.
President Wilson. who has been kept
in close touch with the conferees' ac-
ton, is expected to sign the measure
at once on its arrival at the White
House.
The principal compromises agreed
upon by the conferees include, in ad-
dition to elimination of the guarantee
plan:
Restoration of secretary of agri-
culture and comptroller of the cur
rency to the organization committee.
Restored comptroller of the cur
rency to federal reserve board Civ
ing the president power to appoins
FIVE members for ten year terms, in
stead of six for six year terms.
Rejected the so-cailed insurance Of
deposits.
Rejected senate provision. permit
ting federal reserve notes to be used
as reserves in the individual banks.
Inserted provision that net earnings
going to the government be applied
to the gold redemption fund or to the
reduction OF the bonded Indebtedness
o. the United States.
Inserted provision that branch
banks shall be operated by boards Of
seven directors with the same quail
fcations as directors of the Federal
reserve ks four to be appointed
Federal reserve boards.
Altered the Senate reserve feature
making the transition period three
years as provided by House.
Altered the Senate reserve provision
so as to require at least one-third Of the
reserves of country banks to be held in
the vaults Of the local banks. as against
Senate provision permitting all of the
reserves
Amended the Senate bona provision so
as TO require retirement for a per- 4
OF twenty years Of about three hundred
million dollars in bonds against the Sen
al, provision for one hundred and twcn-
ty-hvc million.
Limited the denomination OF notes to
five dollars minimum striking out the
one and two-dollar provisions OF the
Senate which it was contended woulc
cause imitation.
While waiting for the conference
report, house leaders obtained unan-
imous consent for immediate consid-
Grafton of the report when It is
brought in this afternoon. on Under
woods promise that at least two
hours debate will be allowed Sen
ate leaders did not attempt to OBTAIN
an agreement until the report itself
was presented
President Wilson discovered today
he would have to name a comptroller
OF the currency before he could SO
ahead with the organization of forces
under the new currency bill 1hOm-
as p. Kane is now acting comptroller
and because the President is desirous
of putting the new currency law into
effect at once. it was stated that he
might ask the Senate to confirm q
comptroller before the holiday re-
cess.
The President told callers today he
would sign the currency bill the mo-
ment he receives it. He has beer
kept informed of all changes made by
conferences and approves of theil
compromise measure. He was un
derstood to have expressed particular
satisfaction at the inclusion in thu
measure of the Organization com
mittee" plan This will give him tim'
in which to consider the best men fo
the federal reserve board, withou
delaying operation of the law.
The President anticipates that h
will sign the bill tomorrow and indi
Gated that he would issue a statemen
at that time. outlining what he ex
poets the measure TO accomplish.