Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1913-12-24
rsy sosusa JOURNAL SPECIAL l6ssro War
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Washington, Dec. 2S.-President
Wilson signed the Glass-Owen cur
rency bill az 6:0t o'clock tonight in
the presence Of members Of his cabi-
net. the congressional committee on
banking and currency and democratic
leaders i'm congress generally.
Speaker Clark, after the signing Of
the bin by the president, issued a
statement as follows;
Most assuredly the country Is to
be congratulated on the fact that at
last the currency bill is on the statute
books; for in such matters Of great
pith and moment, it Is the uncer-
tainty that hurts--even where a bill
might be the sum total OF human wis
dom on any particular subject Now
an men Of intelligence will snqw very
soon what the currency bill contains
and what It means. and enn conduct
their affairs accordingly.
my own judgment Is that II will
be satisfactory to the country in q
high degree--at least I hope so. The
fact that a large number Of republic
cans and progressives voted for our
bin is proof positive that the coun-
try is well pleased with it.
go many of'them so voted that it
may not improperly be denominated
"a non-partisan currency law We
certainly have ample cause for self
Generalization that in nine months
we have passed a bin revising all the
tariff schedules and bill thoroughly
revising and overhauling our currency
system.
Our two bills are excellent SAM
pies Of constructive legislation The
tariff bin Is working well and now
that the uncertainty as to the cur
rency bin is removed, / hope and be-
leve that the country is entering a
long period Of prosperity
With It few strokes Of the pen the
president converted into law the mea-
sure to be known as the federal re-
serve act, reorganizing the nations
banking and currency system and fur
nshing, in the words of the president
the machinery for free and elastic
and uncontrolled credits, put at the
disposal of the merchants and manu-
facturers Of this country for the first
time in fifty years"
An enthusiastic applause ran
through the ceremony not only as
the president affixed his signature,
but as he delivered an extempora-
neous speech characterizing the de-
sire Of the administration to take com
mon counsel with the business men
Of the country and the latter's efforts
u meet the governments advances as
the copstitutlon Of peace"
The event came at the close of a
day Of rejoicing in the national capt
ial' for congress had recessed for two
weeks for the first time since it con-
Vened last April.
The democratic leaders were jubi-
lant because they had completed two
ing pieces Of legislation--the tariff
and the currency reform, in nine
months-a performance which they
considered Unprecedented in the his
tory Of the country.
7 need not tell YOU" said the presi-
dent to the assembled group as he
look up his pen, "that I feel a very
ueep qualification at being able to
sign this bill and ] feel that | ought
70 express very heartily the admira-
uon ! have for the men who have
made it possible for me to sign this
pllL There have been currents and
Voonter-currents, but the stream has
moved forward. 1 think that we owe
special admiration to the patience
una the leadership and the skill and
.oroe Of the chairmen of the two
oonmittees; and behind them have
e'ood the committees themselves ex-
uvislng degree Of, scrutiny and Of
.arelul thought in this matter which
suuouotedly has redounded to the
Denefit Of the bill Then, there has
s.oWh as we have advanced with this
BUSINESS and the great piece Of bust
- which preceded it, evidence of
aii Work that to my mind have been
~ notable, indeed. Only construc-
w action, only the action which ac-
~ ap,apilshes something fills men with
th IN enthusiasm Of cooperation and I
haA at this session Of congress we
NM, 49, witnessed an accommodating plea
and enthusiasm on the part Of