The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-12-16
Forces of Administra-
ton Win First Vot-
ing Skirmish.
OWEN REGIONAL
PLAN is ADOPTED
No Agreement Reached as to Day
When Final Action Will Be
Taken-Root Charged With
Shaping His Course
Toward White
House.

Washington. December l5.-Adminis-
! tration forces in the Senate were vic
! torious to-day in the first test OF
strength on the currency reform bill.
Tho vote. 10 to 80. tabled a substitute
offered by Senator Hitchcock for Sec
tion of the administration bill. pro-
| posing system OF four regional
banks, with a possible increase to
eight, the regional bank stock TO be
owned by tho public.
The defeat OF this amendment prac-
tically assured tho adoption of the
/ Owen plan, which provides for from
eight to twelve regional banks, with
the stock owned by the national
/ banks that become members. Demo
cratic. leaders claimed that the result
! of the test vote. involving one of the
| most important features of the fight,
| indicated the complete success of the
! administration measure.
Efforts to get an agreement for
time to begin final voting on the bill
We're not successful to- day: but lead
ers on both sides looked forward TO
an early termination OF the debate
| and for final action before tho end OF
! the week
Vigorous Reply to Root.
! When the Hitchcock substitute had
| been tabled. Senator Reed made Il
! speech vigorously defending the owen
/ pill. and replying to Senator Root, who
on Saturday attacked the measure and
! called Secretary Bryan "the dominating
! influence" behind the proposed new
currency system.
Replying directly to Senator Roots
predictions that undue imitation and n
! financial panic might ensue If the cur
rency bill were passed in it's present
| fern, Senator Reed declared no infa-
tion Oh the currency could occur unless
the Sound money men who run the
banks" brought it about.
This Is workable bill" he de-
| clared. 1T is not surchargcd with de-
struction to business. If added checks
ought to be put in. /, for one. am will
! ing to put them in. The Senator from
New York spent his time telling OF the
dire things that would happen, ana
| spent but little time explaining his
own proposed amendments
! NO one has the right to stand on
{ the floor of this Senate and undertake
| TO alarm the business interests of the
country when there is no just cause for
it. doubt the high patriotism of the
man who Will stand here and cry,
Wolf. wolf, when there is no wolf:
| who Will take this chance of injuring
the multitude who may be misled by
such Il cry
| Senator Reed said "typewritten
document" proposing Senator Root for
given TO the press before he made his
speech 1T is not difficult, then. TO
understand why the Secretary of state
| was brought in he added. when the
voice OF ambition is calling to higher
honors. 1t is not difficult to understand
that men Will sometimes let their in
| terest overcome their spirit of fairness
and candor.
Bnnkers Would BE to Blame.
IF we ever have imitation OF the cur
rency under this bill. 1t will be caused
| by the bankers of the country. and bv
no one else. Even II Mr.. BRYAN was
all that he has been painted by his
enemies; even if he favored initiation of
the currency. which no one has the
right to charge; even IL his influence
was to stand back of this proposed
! Federal reserve board and to control
the men who will ba appointed by the
President, that board cannot put out
one dollar of additional currency until
| there has been a call made upon it by
the regional banks whose boards Will
no controlled by the Sound money men
| VINO run tho national banks"
/ Senator Hitchcock made n sharp at
tack on the proposed control OF the
! regional reserve banks by the bank
ing interests OF the country. He de-
clared this feature OF the bill would
turn over the country reserves to the
! use or these bankers, and would legal
| ize the methods and combinations of
control against which the country has
| long protested
| Quoting the speech Of Senator stone
on Saturday, in which the latter at
tackled y. Il. Hepburn and Frank \.
| Nandcrlip of New York. and Milton
Allies Of Washington. as representa-
| tivcs OF a class Of bankers who were
| lighting effective currency reform. he
| insisted that under the Democratic bill
the control OF the currency system OF
| the country would be turned over to
these and other bankers.
| IF the Vanderlips and the Ailcscs are
going to control" Interrupted Senator
stone. 1T is remarkable that they are
opposing this whole system. They
have been down here fighting it, They
are lighting it yet. They are invoking
every agency to defeat il. They want
to get n central bank"
Criticism Renewed.
| Democratic Senator's renewed the
criticism OF Senator Root speech at
the night session of the Senate Sen
ator Williams, referring to the prcsi-
Dental boom launched for Senator
Root By Senator Gallinger. declared
II was wonderful what wreck can be
wrought In Il sound mind by a presi-
Dental bee" He declared the "plu-
| tocratic press" had hcralded senator
Roots speech as n great attack on the
! currency bill, but he insisted that Sena-
| tor Roots premises wcrc entirely
wrong. No imitation of tho currency
| could result from the new proposed
law, he said. because OF tho restrain
| ing influence of the Federal reserve
| board.
| Chairman Owen, OF the handing
| Committee. challenged the statements
OF Senator Root that in case Of imam
| cial disturbance. the gold OF America