The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-10-10
Forces Of Administra-
ton Clear Air and In
spire Confidence.
BOSTON BANKERS
NOT THE COUNTRY
President Lets It Be Known That
Convention Views Do Not
Represent Those of General
Public-Obvious Pur-
pose Is Opposition
to Bill.

Washington, October "a concert
ed defense by administration forces
against criticism Of the currency bill
by bankers at the Boston Convention
OF the American Bankers Association.
ana against what was alleged TO he
an organized effort To hinder its con
sideration and passage. served TO clear
the air in Washington to-day and TO
inspire new feeling OF confidence
tonight in Democratic circles
Senate debate, in which the bank
ers' criticisms came in for sharp an
swer from friends of the bill. found
It's echo later in the day, when Presi-
dent Wilson made plain 10 callers his
own view OF the recent developments
surrounding the bill.
Not General Public Opinion.
The President let IL be known that
he did not think the views of the Bos-
ton bankers convention represented
the general public sentiment of the
country In the Presidents view, the
attacks made on the bill by the con-
vention represented the activities of
men whom he believed to be acting
with sincerity. but who refused To
yield their position of control of the
countrys financial system.
The expressions in the Senate were
more emDnatlC.
II think the Boston meetings. obvi-
Gus purpose was to work up opposi-
ton to this bill" said Senator owen
and either TO force the bankers view
or To delay or defeat this bill"
Organized Conspiracy.
Senator Thomas talked OF an or
ganiZed conspiracy" to misreprcsent
the President and impede legislation:
Senator Overman declared the Boston
l Il
OF the general public, and Senator
owen. answering a question BY his
Democratic colleagues. said he believed
there was an organized propaganda
against tho bill that found its retiec-
ton in the Boston conference.
Ihe Senate debate and the later
discussions by the President with
White House visitors developed the fol-
lowing facts:
the currency bill a party measure in
the Senate unless it becomes impos-
sibic TO get IL through in any other
way
That the President believes early
action on the bill essential. while many
Democratic Senator'S will oppose any
effort to unduly force the situation.
That, the criticism OF the bankers
conference at BOSTON has tended TO
port OF the bill,
Time Is Essential.
President Wilson told callers that
time was most essential in the cur
rency situation; that With the big ac-
cumulation of business in the autumn
and early winter. business men were
anxious that the banking and credit
question should be definitely settled at
once.
The President also took the position
that the Senates currency hearings
had been unduly prolonged.
1t was apparent when to-day's hear
ings of the currency bill ended that
there had been no change IN commit ee
sentiment, indicating an earlier termin-
alton of the committee work. Demo
cratic members insisted however. that
with proper time for consideration. it
would be possible to get a complete bill
out of the committee in November, and
that it's passage through the Senate
might be accomplished III December.
Defends IntcrlockinE Direetorates.
Frank 4. Vandcrlip, president OF the
National City Bank, concluded his
analysis of the mea sure before the com
mittee to-day. Nathaniel French, OF
Davenport, Iowa. also occupied the Wit
journment, indorsins the bill in It's
vital features.
Vanderlip defended intcrlockinG d-
rectoratcs among New York banks. de-
claring they had given strength. and
| never had resulted in unfairness TO bor-
rowers He Denied there WAS any com
bination for monopoly OF credit III New
York that would prevent the financing
of any sound enterprise.