Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1913-01-21
AGRICULTURAL SCHEDULE At
TRACTS MANY WHOSE INTER.
EsTs ARE AFFECTED.
CHAIRMAN UNDERWOOD
INDICATES IDEA OF WORK
Former Representative Fowler Pre-
ssnts System For Monetary Revision
to House Currency Reform Commit
tss-WouId Create Commercial
Zones" and Establish Central Re.
serve.


people whose interests are affected by
the agriculture tariff schedule were on
the witness list when the house COM
mittee on ways and means today re-
sumed it's hearings. They were supple
mental to the long array of witnesses
who testified Yesterday regarding cit
rus fruit, spice. tal!ow. nursery stock
and other articles.
Chairman Underwood has been in
dicating the general ideas. OF the sched-
ule from time to time. Many items
have borne on labor cost as vital
factor in the consideration Of the tar
iff. Mr.. Underwood has indicated that
while the committee feels 1t Is import
ant it is not the only consideration
in solving the problems OF the diner-
ence in the producing cost.
THE management, the man at the
head of the plantation or factory" says
Nj. Underwood. sometimes performs
services worth great deal more than
all the labor cost. by reason Of his be-
ing man OF executive ability and of
getting work out Of his labor and OF
generally getting results. think this
Is geperally true of all agricultural
questions"
Guard Assinst Cheap Labor.
A plea for guard against the labor
of the orient was made by J. j. Gull
bertson, Of Paris, Texas. representing
the Interstate Cotton Seed Crushers'
Association. He wanted soya beans
used in the manufacture of lards to
be admitted free of duty.
Harry Hartley and +. w. Hobbs. OF
Boston. the former representing the
National Association OF Wool Growers
advocated an increased duty on WOO
grease. A. w. Eames, of San Francisco
speaking for the Hawaiian Pineapple
Association. urged maintainance Of the
present tariff on pineapples.
Suasssts Monetary Revision System.
Washington, Jan. 21.-FOrmer Rep
resentative Charles N. Fowler. Of New
Jersey. outlined to the house currency
reform committee today his suggestions
for revision of the monetary system
He proposed, that all national banks
be authorized to do commercial saw
ings and trust company business and
make note issues as Canadian banks
do: that all holding companies OF
banks be prohibited and that all banks
be compelled to carry the same amount
Of reserve. always in gold: all banks
should be under federal control. ne
contends, as banking is interstate bus
mess, and that clearing houses should
be established at all financial centers
to be designated as commercial
zones" under the managements oi
boards Of control elected by the banks
A bankers council to act as the court
of appeals Of each one, composed -
business men and bankers. he also
proposed. A deputy United states
comptroller would preside over each
board.
Advocates Central Reserve.
BY having all banks In the ot'ite.
states contribute from to 10 per cent
of their deposits to central reserve.
Mr.. Fowler estimated a gold reserve Oh
inward of $3.50. 10000 would be cre-
ated to be held in trust for all com
mercial zones and its distribution IN
tin,es of need would be controlled ns
!, hoard chosen from all the zones
such a plan. Mr.. Fowler told the com
mtttee would enable such an orsanl"a-
zion as he outlined to control tte
movement of gold to and from the
United states and afford a discount
rate for gold transactoin.
TIE chief result would be to make
o,ch hank Independent. to make each
zone independent, and TO complete!
decentralize all bank credit IN ''e
United states.