New-York tribune., 1913-08-23
Conference at Chicago Told
Every Reasonable Objection
to Currency Bill Will
Be Remedied.
EXPECT MANY CONCESSIONS
Hope for Reduction of Reserve
Banks from IL to 3 or 6, and
Believe Federal Board
Will Be Removed
from Politics.

Chicago Aug. 22-A spirit Of con-
citation and compromise toward the
n-Glass currency bill as it is be-
ueved il Will be amended was mani
tested at a conference Of leading bank
ers from all parts of the country held
adiourns tomorrow il is expected
that the resolution recommending a
number Of important changes in the
currency bill now pending in Congress
will he adopted and that the bankers
will use their influence 10 assist Pres
ident Wilson in obtaining currency
legislation.
The change in the attitude Of the
bankers developed after George NJ.
REYNOLDS. president of the Continental
and Commercial National Bank. had
addressed the meeting and told Of an
important conference he held in New
York yesterday with Secretary Of the
Treasury McAdoo, at which amend
ments 10 the currency bill desired by
the bankers were. discussed and assur-
ances given that the administration
was willing to remedy every reasona-
bic objection TO the measure.
Mr.. REYNOLDS was summoned TO New
York 10 confer with Secretary McAdoo
last Wednesday to discuss the attitude
Of the bankers toward the proposed
legislation. Mr.. Reynolds outlined the
principal objections OF the bankers TO
the measure. and when he returned 10
Chicago to-day he felt confident the
administration would make number
Of concessions in the final draft OF the
bill.
Concessions Likely.
In addressing the conference to-day
Mr. REYNOLDS said: "1f we act wisely,
I believe we will be able 70 obtain
material notifications in the Owen
Glass currency bill, now pending in
Congress.
Il spent yesterday with Secretary
NcAdoo in New York, and we talked
about the bill and our objections 10 it.
and he assured me the administration
desired to do all in its power TO remedy
the defects Of which we have COM
plained. Many amendments to the
original bill already have been made.
Several important defects pointed out
bv us have been corrected, and | think
We can get other concessions If we go
about II in a spirit Of conciliauon and
compromise and express Willingness
10 meet The government half way. l
have had considerable contact with
those in control Of this bill in Con-
gress. and / have found they are will
ing 10 listen and want TO be fair. /
rredict that il we meet the government
IN the proper spirit q bill reasonably
satisfactory 10 the bankers and ousl-
ness men may be passed at the pres
ent session.
To Cooperate with Wilson.
we probably will not he able TO
get everything we want, but We may
get legislation on the subject. l be-
Neve President Wilson can put through
some kind Of currency bill. and favor
cooperating with him I'm securing the
best measure that political exigencies
Will permit
Il believe We can get the number OF
federal reserve banks reduced TO from
twelve 20 five or six. ] believe we can
have changes made in the working OF
the clause referring 70 the chairman OF
the federal reserve board which will
remove It from politics. / believe we
can have the advisory committee of
bankers clothed with the power Of veto
in connection with the management OF
the reserve banks"
Mr. Reynolds was vigorously ap-
Continued on fourth pa =. sixth column.