The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-10-21
President Hopes to Sc
cure Speedy Action
on Measure.
WILL NOT OPPOSE
RECESS OF HOUSE
In Letter to Underwood SAYS
Conferences With Members Of
Senate Committee Lead Him
to Believe Action Will Be
Taken During Present
Session of Congress.

Washington, October 2o-With
President Wilson willing to accept
substantial amendments TO the ad-
ministration currency bill in the hope
Of securing speedy action on the
measure in tho Senate COMMITTEES. sup
porters OF the administration to-day
grew optimistic over the chances for
the passage of the measure before the
end or the extra session of Congress-
The President himself in letter TO
Majority Leader Underwood, announced
his willingness to consider proposal
Tor q recess Of the House, because, lie
haid. conferences with members of the
Senate committee led him to believe
the bill would be reported TO the SEN
ate the first week in November and
passed during the present session.
Republican members Of the commit
tee and Senator Hitchcock, of Nebras-
ka. were inclined to look upon this
plan as too optimistic. but other mem
bers of the committee said they hoped
TO be able to live up to the Presidents
expectations.
reduction In the number OF reserve
banks fixed by the administration bill
at twelve. and tho removal OF the
Secretary Of Agriculture and the
Comptroller of the Currency from the
Federal Reserve Board. which would
control tho new currency system. were
the amendments which the President
let II be known he would not oppose.
Witnesses before the Senate commit
tee have almost unanimously contend
co Tor these amendments. and n ma
jority of the committee is believed to
favor them.
Members Of Federal Donrd.
The proposed amendments would re-
t-.t,
governmental institution, but would
provide that It shall be composed of
seven members. six TO be appointed by
the President and to devote their en-
tire time TO the work OF the board.
and the seventh 70 be the Secretary
of the Treasury.
The committee has not yet taken up
the question of reducing the number
OF reserve banks, but suggestions have
been made putting the number all the
way from three to ten. Senator Weeks
tRepublican), has q proposal that the
number be reduced to single Federal
bank 10 be controlled absolutely by the
government
The proposal for n recess of the
House was taken UP at the White
House and at the Capitol to-day and
negotiations continued without any
definite conclusion. President Wilson's
letter to Mr.. Underwood, made public
at the White House, said the President
was confident the currency bill would
be reported to the Senate the first week
of November and would he passed with
in three weeks thereafter.
Later Mr.. Underwood sought Repre-
sentative Mann, minority leader OF the
House. and urged him TO consent TO the
passage OF Il Joint resolution for Il
recess OF the House until November
Is. Mr.. Mann, who has insisted that
Congress should adjourn because of
his belief that the currency bill could
not be enacted at the extra session,
postponed decision on the request until
tomorrow Then he went to the SEN
ate and discussed with Republican and
Democratic members the Presidents
assertion that the currency bill would
probably be disposed OF in November
Mann Not Too Optimistic.
Il found" Mr.. Mann said later
that the Senate was without quorum.
rs is the House. I found that the
President had not consulted with Re-
publican Senators. nor received as
surances from them that the currency
bill would speedily be disposed OF.
II found that in all bability the
currency bill will not get into the Sen
ate until the next session Of Congress.
and that the President will be lucky
ii it passes by February. The Presi-
dent says there is an ambitious legis.
iative program for next winter Tn
less there are concessions on the cur.
rency bill. there may not be much
Legislation enacted but currency at the
next session"
President wilson's confidence that
Republicans and Democratic Senator's
would reach an early agreement on the
currency bill was based on talks with
Senator Nelson and one or two other
Republicans Members of the Senate
Banking and Currency Committee cx-
outcome OF the legislation than did
Representative Mann, but none of the
Republican members would predict the
passage of the bill within the time set
by the President.
Victor Morawetz, OF New York. iii,
rector OF the National Bank OF Com
merce. and Il student of the currency
problem. defended the administration
bill before the Senate committee to-
day. He advocated reduction in the
number OF Federal reserve banks, how
ever. and urged numerous minor
amendments in the bill. When the
committee closes It's hearings on Satur-
day 1T will be confronted with hun
dreds of proposed changes, which must
be discussed and voted upon.
Expects Early Action.
Especial Cable to The Times Dispatch1
London. October 20.-United States
Senator willard Salisbury, or Della
ware, who Is here on n vacation and
also investigating the land contro-
versy" in England, because he believes
the United States will be confronted
by like problem some day, said to a
representative OF The Times Dispatch:
'It is my belief that the currency
bill will be passed more quickly than
is ordinarily thought, but 1t is my per-
sonal wish that all reasonable time be
given to the discussion OF It, because
want TO see the bill passed, not ms n
party measure, but purely az II piece
of administrative business. upon which
Continued On Second Page.)