Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-09-19
Chairman Owen Optimistic.

Senator Owen. chairman of the bank
ing committee, is optimistic regarding
early action on the bill by the Senate
He gave out the following statement to-
day:
THE passage Of the banking and cur
rency bill by the House of Representa-
tives after weeks of debate in the demo-
cratic caucus and discussion at length
in the House itself argues prompt and
favorable action in the Senate.
"ENery student Of this question will
agree on the necessity and urgency for
prompt action. 1t has been six years
since we had the gigantic national calam-
ity in the panic of 1907, which led to the
creation OF the monetary commission and
its proposed remedy, upon which the gov
ernment expended out of the public treas
ury nearly 100000
The retiring administration. through
Franklin MacVeagh in his annual re-
port Of September 2, 1912, declared that
the most important fact in connection
was its urgency emphasizing the extreme
necessity of protecting this country
against repetition of the frightful
catastrophe of 1907.
Patriotic Response Made.
THE President Of the United States
appealed in person to the House and
Senate urging them to lay aside their
personal comforts and convenience and
perform this great duty so urgently
needed by the country. and the Senate
and House have responded in a very
patriotic spirit.
The House bill was passed yesterday
and the Senate recessed for the express
purpose of giving an opportunity to have
this bill reach the Senate and be imme-
diately referred to the committee.
Il have no doubt but that the Senate
committee will give the bill the most
vigorous and virile attention, subjecting
10 tne closest scrutiny, and l have no
doubt that the Senate will be able TO
make some improvements in It,
The members Of the banking and cnr-
rency committee of the Senate have been
diligently studying this question and are
quite well prepared to deal with the ques-
tions involved.
1.-The Senate hearings already have
taken more than 500 printed pages and
the Senate committee Is giving the mat
ter daily consideration. The fun com
mittee will be present Monday. when we
shall hear Samuel Unter1nyer who. as
counsel, drafted the PuJo report
Expects Report by October 6.
II hope to see a report upon the bill
within two weeks from next Monday, but
Of course, It is difficult In the extreme
to forecast with precision the time which
will be required
II believe l am as fully prepared 70
act on the currency bill now, as 1 would
be il I gave it much longer study said
Senator Shafroth. another democratic
member of the committee. Il believe
Congress should dispose of 1t before the
next regular session begins.
Senator Bristow Of Kansas. republican
a member of the Senate banking and cur
rency committee, today declared that the
currency bill as 1t passed the House was
wall street measure" He insisted
| that the interests represented in Wall
street had obtained practically all that
| they wished in the pending bill. and
added that he intended to show this up
| in the debate over the measure.
Public Hearings Resumed.
Public hearings were resumed today
with Andrew ]. Frame. banker OF
Waukesha, Wis.
Country bankers also will appear, and
I It is expected hearings will be closed BY
Wednesday.
| Senator Reed, member OF the Senate
| banking and currency cOmpittee anC
one of the most severe democratic critics
| NJ certain features of the administra.
! tion bill. went to the White House last
night and for nearly three hours was ir
conference with President Wilson anC
Secretary McAdoo. When the confer.
ence ended near midnight neither the
senator nor McAdoo would discuss it.
1t is understood that the provisions OF
the currency measure to which Senator
| Reed has objected were gone over care
| fully.
| the time comes thu democratic majority
| will work in harmony, but in the mean
time. as consideration of the bill Is be-
ginning In the Senate. 1t is said he pro-
poses to aid actively in smoothing out
| diYerencea Of oniniou and paving the way