Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1913-10-22
ASKS POLITICAL OPP.
PoNENrs TO ASSIST IN PASS.
ING CURRENCY BILL
SENATE CERTAIN TO CHANGE
HOUSE MEASURE RADICALLY
Bill as Sent to Senate Would Have Dis
organized Business and Have Been
Source Of Observation-Disclosures
Measure Now Certain to Pass-Extra
Session to Run Over.
Especial Correspondence

/ v
the last week of the hearings by the
senate banking and currency cimmit-
, tee on the currency bill. Next week,
the committee will buckle down to the
! hard task Of shaping up the bill ana
; amending it and recasting it before re-
porting it to the senate.
On all hands, it is now conceded that
the bill as it passed the house and as
it was first endorsed by the White
House can not be enacted. 1t Will pc
radically changed. President Wilson
has receded from his original position
to the extent that he is no longer ~e-
handing the bill go thru without I'M
poctant amendments.
House Bill Crude.
That the house bill, had II peen
rushed thru, would have proved an ao-
solutely unavoidable measure and would
have caused serious financia trouble II
not disaster is nrm conviction OF many
caused serious financial trouble II not
disaster is the firm conviction or many
senators who have studied 1t. Inc
sentiment for overhauling the bill Is
pronounced not only in the committee
but outside of it.
The currency situation has clarified
in part but not entirely. A month ago,
predictions were made by Senator
owen and in administration circles
that the bill would be reported from
committee by Oct. 10, and that It would
be passed Nov. l. Now, the situation
has so far shifted that the most opti-
mistic predictions in administration
circles now are that the committee will
report about Nov. 10. This Is the most
optimistic view Of 1t and It Is not at
all certain report will be forthcom-
ing then. Present Indications are 1t
will be later than that.
Reshaped Bill Non-Partison.
Currency legislation will be enacted
and the signs now point to a strong
measure made up on a non-partisoa
basis, unlike the house bill, which was
shaped in secret democratic caucus.
Efforts have been made to get the bill
taken up by caucus in the senate but
they have failed because many demo-
cratic leaders foresaw the caucus sys-
tenn would break down If 1t were at
tempted. Nor will the bill be rushed
thru. 1t will not be unduly delayed nor
will 1t be damned ahead. Talk of en-
actment before the end Of the special
session is still INDUCED by the admin
istration but senators generally say
this is out of the question and that
enactment need not be expected before
December on January.
Wilson Backs Up.
President Wilson has concluded to
take the republican senators into ac-
count in handling the bill instead OF
treating 1t from partisan viewpoint.
He called in Senator Nelson. OF the
banking committee, and talked with
him about the bill. Senator Nelson
made it clear the republican senators
were not trying to obstruct the bill but
were seeking to modify it so 1t would
be workable and EFFECTIVE. Other re-
publican senators on the committee will
be consulted and, perhaps some repub-
lican senators not on the committee.
Expectation is that the senate COM
mittee will finally evolve a bill which 1t
can support unanim ously. or which
will at least command the support Of
a majority of the IN embers. At one
time, 1t was considered doubtful
whether a bill could be framed on
agree.
Members to Lose Mileage.
One Of the things worrying lot OF
members is that the special session
will run into the regular session and
they will lose their mileage. Few MEM
bers admit this is troubling them but
under the surface there is a lot Of talk
about it.
The senate banking committee in
its hearings received valuable suggest
ions from President Frank Vanderlip
Of the National City Bank Of New
York, who gave partial endorsement
to the pending bill and suggested some
changes. The committee requested
Mr.. Vanderlip to suggest set OF
amendments in writing. He has done
so. One of the changes he advises is
four regional banks instead Of twelve,
these to have minimum capital Of
$15,00O,0C0 each.