The Birmingham age-herald., 1913-12-05
CURRENCY CAUCUS
SUBJECT OF BITTER
ATTACK IN SENATE
Republicans Declare Major
ity Approaching Danger
ously a Conspiracy by
Action on Measure

Washington, December 4-Charges by
Senator Cummins that the democrats had
approached dangerously near a conspir-
acy against the rights of all the people
in taking caucus action on the currency
bill, marked the opening of today's ses-
sion of the Senate.
This bill has been considered else
where and passed elsewhere" he said
There will be no real debate in this
chamber; it will be simply farce. 1
hesitate to participate in it, for l do not
want to give it before the country the
color of actual deliberation.
Il cannot believe the American people
VIII for long period tolerate this legis-
lation by caucus"
Defends Caucus
Senator Lewis of Illinois retorted that
Senator Cummins had sanctioned similar
caucus methods while governor of Iowa,
but Mr.. Cummins denied this
Senator owen, defending the democratic
caucus action, declared the democrats had
adopted the most direct, efficient and sim
pie way of securing legislation after Con-
gress had for months delayed action He
denounced the extended debate on the
Hetcn Hetchy bill as a beating of the
air with empty words and a delay of the
currency bill.
Republicans declared that democrats
were absenting themselves from the
chamber and that all addresses were be.
ing made to empty seats.
Senator Norris, republican, declared the
situation showed the need of a cloture
rule. He attacked the caucus.
The President of the United States'
ne saiu, read a message to Congress the
other day. With every fundamental prin-
clple which he laid down there l am IN
hearty accord. But under the caucus sys-
tenn VIII nave no opportunity to assist
In framing the measures which should
carry out those principles. Practically ev-
cry senator on this side of the chamber
is In a similar position as to some one or
more OF the Presidents recommends
tions."
Senator Reed declared the impression
had become circulated that President
Nison hau exerted some undue influence
on congress in the currency matter.
Reed Defends President
The President" said Senator Reed en-
pnatlcally, has never attempted to coax
or coerce Congress into passing any par
tlcular bill. l entirely deny that the
President has gone a hairs breadth be-
yond the performance of his constitutional
duty.
Senator Reed declared haste was neces-
sary In dsposing of the currency bill be-
cause of the effect delay on its schedules
was having on the business world
/ beneVe there is emergency con-
fronting u.s. he said 1T is not a calan,-
ity that is impending, but real emer
gency that requires our action. Banks
are outstanding their resources in order
to comply with the terms of this new law.
Until 1t is passed this period of emer-
gency will continue"
senator Reed reviewed the adminis-
tration bill as framed by the demo-
cratic caucus. He defended the pro
posal that the regional banks to be
created should be controlled by the
member banks declaring that the banks
would not enter a system in which
they We're not given control of their
own resources and capital
The main purpose to be accom-
plished,' he said ais to preserve the
integrity and independence of the indi-
vidual banks in this country This
would not be done under a system
which would weld the banks together
under single government owned insti-
tuition"
Senator Reed pointed out that while
the banks would conauct the business
OF the regional banks under the ad-
mlnlstration plan the final power to
control the system would lie with the
government through the federal re-
serve board.
This bill was devised for the ben
efit of the banks and they ought to
receive it in that spirit and not as
hostile measure that is being forced
upon them" he continued
Il believe We have gone to the very
edge of the precipice when we have
agreed to take all the money of the
government and put 1t into these re-
glonal banks, which in turn are to be
controlled by other banks The bank
ers should appreciate that and should
realize the full measure of benefit
which this bill would confer on them"