Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1913-08-21
THAT BANKING BILL.

tSipuA lily JOURNAL
Intelligent observers. irrespective OF
party. are keenly hopeful that a thor
ough going currency and banking
measure may be passed as speedily as
is consistent with wise consideration.
So far the matter has been prudently
handled BY the administration and
those in congress who are in charge
Of legislation. The measure promul
gated under administration auspices
six or eight weeks ago had been care
fully incubated. 1t has been received
/ by fair minded men generally as in
its main features reasonably satisfac-
tory as working basis, as a tentative
draft for a system of extensive read
| iustment Of currency and banking
forms
It was doubtless proposed only as a
basis for such readjustment, amend
ment and betterment being expected
upon consideration in congress and
outside OF it. This is clear from
! the fact that between the time Of Its
serious consideration by the congress
sional committees which Is still IN
progress the draft was formally sub
mitted 10 bankers all over the coun-
try. both in association and as indi-
viduals. and to other com petent ad-
visers Their advice was insistentlE
| sought and freely given and received.
| All this procedure, it is to be frankly
said. was prudent and as 1t should
| have been.
! 1. remains. however, legislatively to
| 7ipen and harvest this really important
measure and that. too. right on the
heels of busy and wearisome tariff re-
view not vet completed-by far the
most difficult feat in the task OF hand
ling such matter. I; is especially
difficult under the circumstances IN
which the democratic party comes to
deal responsibility with currency ana
banking. That party, In opposition
and under Bryanite dictatorship for
long period. had accumulated a record
and had absorbed popular elements
which necessarily grarely embarrass
the Wilson administration and cooper
ating party managers in congress when
they attempt to act constructively fos
a really sound banking and credi'
system.
IT is no wonder that President Will
son is exceedingly anxious to get a
measure thru congress into the statute
book. and out of the way, within the
first lap of his administration. wheth-
jtached point OF view Of large pubic
interest or from the point OF view OF
the practical and historic success o.
his administration. For the exuberan
and genial flow Of spirits which party
victory starts is almost sure to De
more potent for unity Of action during
1.-The first year of an administration
than later The democratic party en-
braces perilously many elements
which, If given time, would natural!
turn insubordinate to sound manage
ment in so complex and delicate mat
ter as banking and currency.
But fortunately there is a vast vol
ume of public sentiment overspreadini
all party bounds. insistently tho moi
noisuy earnest to have this subject
done with now. AS a matter OF bust
mess rather than Of partisanship. tha
} sentiment prefers fairly sound. ever
If far from the best conceivable. none.
. measure now to taking chance o
. worse later or OF having the existing
{ tsystes. Indefinitely uninaproved. It vii
-s!be . notable feat to IT. credit tfs tn