The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1913-11-12

CHANGES ARE MADE
SENATE COMMITTEE MUTILATES
CURRENCY MEASURE
TO hold PARTY CAUCUS

TO HOLD PARTY CAUCUS
Senator's Reed, Hitchcock and O'Gor-
man Reinforce Republican Minor
ity in the Committee and Together
They Vote so Many Amendments
That Bill is Hardly Recognizable.
Democratic leaders in the Senate
late Thursday decided that unless the
Senate banking and currency COM
mittee promptly voted back into the
administration currency bill some OF
the fundamentals it had eliminated,
party conference or caucus would
be called for the beginning of next
week to consider the subject. Tele-
grams were sent to absent Democrats
urging hem to at once return to
Washington. The Senate committee
had continued to make changes In
the House bill, which supporters Of
the administration took objection. A
Democratic Senator at White House
during the day told President Will
son that no progress would be made
by permitting the House bill to be
bufeted about in a committee where
in a coalition of Republicans and
"insurgent" Democrats would alter
the entire theory Of the measure. 1t
is not known what position the Presi-
dent took. Newspaper men who ask
ed the President whether a caucus
would be called were told by him
that it was a subject for the Senate
to decide.
Thursday night 1t became known
that four staunch administration sup
porters on the committee-Senators
Owen, Hollis, Pomerene and Shaft
roth-had been quietly working on a.
report, which they probably will sub
nit to their Democratic colleagues,
Senators Reed. O'Gorman and Hitch
cock. Should they decline to sign IT,
it Is believed that the plan will be to
submit the report TO the Democratic
caucus or conference. Senators who
insist upon some kind of party action
took the position that the Democratic
party will be required to stand spon-
sor for whatever legislation is enact
ed; that efforts to get a non-partisan
report would mean interminable dis
cussion, lots Of wrangling on compro-
mises that would seriously delay the
bill and embarrass the party program
in the regular session Of Congress.
Many Senators were in hopes that
change Of sentiment would yet de-
velop in the committee and an agree
ment be reached before November 10,
the date on which it had been expect
ed that bill would be reported to
the Senate. President Wilson has not
relaxed in his determination to have
the currency bill passed during the
present session, and many Democratic
Senators have indicated to him that
they are restive under the delay and
want to make the bill party meas
ure.
Amendments termed by Chairman
Owen as altering the entire theory
Of the bill'' were written into the ad-
ministration currency measure by a.
coalition Of Republican and Demo-
cratic members Of the Senate banking
committee. The administration sup
porters in the committee were decis-
lively outvoted on all but one OF the
points settled, and later the talk OF a
caucus of Democrats to discipline the
committee was revived. Notices were
sent out summoning absent Demo-
Gratis to the Senate chamber, but no
definite call for caucus was issued.
The committee voted into the bill the
following affirmative provisions:
That the regional banks to admin
lister the new currency scheme be cap
italized by public subscription, the
stock not taken by the public to be
taken up by the member banks OF the
system.
That each regional bank be con-
trolled by nine directors, five to be
named by the government through
the Federal reserve board and four
to be chosen by the member banks.
That the new currency to be issued
be treasury notes, obligations Of the
United States, lent to the banks, and
not bank notes guaranteed by the
government. This sustains the ad-
ministration bill as it passed the
| House.
That then we notes be redeemable
in gold" by the regional bank and
the treasury, and not in "gold and
lawful money" as provided by the
administration.
With the exception Of the proposal
to endorse the administration provi-
sion concerning the currency govern
ment notes, each amendment split
the Democratic side OF the committee.
Senators Reed and Hitchcock voted
with the FIVE Republicans to make the
regional banks publicly owned and
government controlled. On the pro-
posal to eliminate the words lawful
money" from the redemption clause
of the bill, Senator O'Gorman Joined
Senators Reed and Hitchcock with
the Republicans, leaving only Sena-
tors Owen, Hollis. Pomerene and
shaffroth behind the administration
provision. All the Democrats and
Senator Crawford, from the Republi-
can side, voted to sustain the admin
istration for treasury notes.