The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1913-08-25
Radical Changes Are
i. Asked in the Currency
Bill by the Bankers

Chicago, Aug. 25.-Bankers from all
parts of the country, at the close of q
| two days conference, agreed on a
number Of important amendments to
| the Owen-Glass currency bill, now
pending in congress, and appointed a
committee of seven to go to Washing
ton and endeavor to have the changes
| incorporated in the measure. Mem
bers of the conference expressed the
belief that the administration forces in
Washington will be convinced by the
arguments and will SO modify the bill
that it will be reasonably satisfactory
| to the banking and business interests
| Of the country. ',.....
The amendments were presented tc
1.-THE conference*by a. committee on reso-
| lutions and were adopted after q
| lengthy discussion by an unanimous
| vote. The committee went through the
lcurrency bill section by section and
Recommended more than a score of
changes. 80
On motion of Luther Drake Of Omaha
the following committee was named by
Chairman Hepburn of New York to go
to Washington and present the recon-
mendations of the conference to Pres
ident Wilson, Secretary of the Treas
ury McAdoo and congress:
James B. Forgan, Chicago. chair
man; George w, Reynolds. Chicago;
e. j. Hill, NorwaIk, Conn., r. f. Mad :
dox,, Atlanta: Sol sWexler, New Or
leans; Joseph Chapman, Minneapolis,
and Augutus Wade, st. Louis. The
committee will 60 to Washington in
few days to begin its work.
The resolutions adopted read as fol-
lows: a
American Bankers association. charg-
II I,tfJr nf
procure remedial banking legislation,
and regarding the banking measure
now pending in congress as evidetcing
the earnest wish of the administration
to give wise law to the country, has
profoundly desired to cooperate in
every way. To this end. upon it's in
,vitation that the president of the forty
seven state bankers associations and
that representatives of 191 clearing
houses attend and unite in an express
sion, this joint body composed of bank
.ers from every section of the south
and north, from coast to coast, repre-
senting country and city. banks, state
and national trust companies, after
considering the bill has adopted the
following:
Z Whereas: We recognize the imper-
ative necessity of incorporating into
the banking and currency system OF
CDlS plOVCn pEhlClpiSS
which will provide the most ample
credit facilities with greatest safety
and currency based on gold, which
automatically adjusts its volume to
trade requirements, In order that the
highest stability may be obtained for
our commerce, thereby assuring con-
tinuity of employment for the laborer
and favorable markets for the produc-
er, the fundamental basis Of general
prosperity, and,
whereas: Although the pending
measure has many excellent features
and recognizes certain principles
In any scientific banking
system, yet it is believed that the ap-
plication Of these principles may in
certain respects be made in ways that
will more surely avoid credit dis
turbance and more. efficiently attain
the desired benefits for the whole peo-
pie, and
Whereas: We believe that to in
sure successful operation Of new
banking law, 1t must be of such
character as to warrant general ac-
ceptance OF it's provisions by existing
banking institutions, both state and
national, country and city, since the
first test of the measure of success
must be the strength and power for
efficiency serving the interests of the
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