Omaha daily bee., 1913-12-21
Mr.. GLASS LEADS THE FIGHT
Says Reserve Requirements Lower
Than Present Law.
WOULD CAUSE WILD INITIATION
Senate Guarantee Provision Called
Mere Pretense.
FINALLY GOES TO CONFERENCE
Motion ny Republican Leader Mann
Co Instruct Conferees 60 substi-
tute hitchcock BiII is
Defeated.

WASHINGTON. Dec. S--After q hot
debate in the house today. administration
leaders had their way and sent the cur
rency bill 20 conference committee.
Attempts 70 concur at once In tho senate
amendments were defeated 29l to 90.
group OF middle-west democrats made
futile fight 60 accept tho senate pro-
visions for guarantee of deposits, re-
discount OF six months agricultural paper
and five-year farm mortgage loans by
national hanks.
With the house in disorder, Republican
Leader Mann moved to Instruct the house
conferees to disagree to the senate
amendments and agree to the Hitch
cock" bill rejected by the senate. A
parliamentary wrangle ensued and an
other roll call was ordered to shut off
debate.
Two Amendments Accepted.
The bill went TO conference however.
with the house managers instructed to
accept the senate amendments extending
the re-discount privilege 20 six months
commercial paper and permitting national
banks TO make five-year farm mortgage
loans.
by a vote OF 2ii 70 81 the democrats
voted down instructions offered by Rep
resentatlve Mann to substitute the
Hitchcock" bill.
During the debate Representative Glass
declared that no immediate agreement
between the two houses was likely. al
though other leaders predicted early ac-
ton.
There are serious differences between
the two houses" said Representative
Glass, "and l cannot see any prospect
OF an immediate agreement"
Then. after the house had wrangied
back and forth for more than four hours.
speaIfer Clark finally got things 70 a
ip6int where he could name tho confer
ees, and he formally named Representa-
tives Glass. Korbley ana Hayes.
strikes sang In House.
On It's way 10 conference the bill struck
snaK in the house. where a fight over
the number OF conferees and the aues-
ton OF separate vote on some OF tho
senate amendments caused delay Rep
resentatlve Glass asked unanimous con-
sent to disagree to the senate amend
ments and send the bill to conference.
Hardwick OF Georgia and Madden OF Illi-
nois contended the house should have
as many conferces as the senate and said
tnty Ooalfou an opportunity W WV ~"
some of the amendments.
Majority Leader Underwood was given
unanimous consent 20 take up the bin,
but Representative Murray OF Oklahoma
moved TO concur In the senate amend
ments and the reading OF the fifty pages
OF changes made by the senate was or
dered. causing a long delay in getting
the bill before the conference committed
The fight in the house developed a
movement to insure retaining the senate
amendment for guarantee OF bank de-
posits
Representative Glass declared the enact
ment of the measure into law as II came
from the senate would be calamity.
II want the bill sent TO conference" he
said. because / am convinced that as
the bill has been completed by the senate
II would not be a workable law" He
pointed out several provisions in the sem
ate amendments which he said conflicted.
Mr. Glass attacked the bank reserve re-
duirements as amended by the senate.
Mere Pretend.
Under this provision" he said. ''the
total reserves of the banks in the system
both In cash and in credit with the re-
serve banks would be less than they are
at present holding In cash. Within a
few months under these provisions we
would have a saturnalia OF expansion of