The Leon reporter. (Leon, Iowa) 1887-1930, 1913-08-28
WASHINGTON LETTER.

Washington, D. c., Aug. "a
Special Correspondence the
currency bill through the caucus and
now before the house for action, and
the tariff bill nearing completion in
the senate, the last stage of the spec
ial session called by President Will
son has been entered upon. That the
| house will pass the currency bill
there is not the slightest doubt, for
the caucus demonstrated that the
overwhelming majority of the demo
cratic members indorse the presi-
dents view that there is an urgent
need of currency legislation to sup
PIGMENT the tariff legislation. 1t is
confidently expected that the tariff
bill will 60 drought the senate by a
safe margin. The only democratic
vote against any of the schedules OF
the bill adopted were those of the
two Louisiana senators on free SUI
gar. They have not been given any
support in the inconsistent position
they have taken of voting protection
Tor the products ST their own state,
while agreeing with the reduction OF
duties on the products of other
states If these two senators vote
against the bill on final passage
there will yet be sufficient democrat
ic strength to pass the bill and car
ry out the promises OF the Baltimore
platform.
The president remains confident
that the currency bill also will pass
the senate. He has been given ad-
ded assurance that the senate lead
ers indorse his opinion. Newspaper
gossip has attempted to show fric-
ton in the senate that does not exist.
Chairman Owen of the senate bank
ing committee efectually put a stop
to rumOrs that he was opposing the
currency program when he went to
the White House to assure the presl-
dent that the administration bill had
his full approval. Later he express
ed the belief that the bill would pass
the senate this session.
Speaker Clark added a strong in
dorsement to the bill. He declared
that public opinion was agreed that
we have one of the worst patchwork
systems of finance known among
men. The Glass-Owen bill, he be-
lieved, would prove great improve
TEN. He mentioned the provision for
loans on improved farming lands,
prohibited to national banks now, as
one of the features that would be
beneficial to the great agricultural
constituencies such as he represents.
He added:
"Another thing is that the bill will
tend to keep the peoples money in
the places where it is owned and not
concentrate so much Of it one place.
Still another feature which rural
folk will lndorse, is that it prohibits
the loaning of bank deposits for pur-
poses of speculation in stocks and
bonds. But the best feature of it is
the governmental control of the ma
tional banking system.
1T is objected that it confers too
much power on the federal reserve
board, but power must be lodged
somewhere, in somebody, and it is
better to lodge it in a government
board than in private hands,
Speaker Clark declared that it was
a thing incredible that any president
will regard his good name so lightly
as to abuse the trust placed in him
by the bill. No president, he said,
would appoint other than men of
ability, character and patriotism on
the federal reserve board.
No stronger evidence than could
be given of the total absence of fac
tional strife among the democracy
than the whole hearted support CIV
en- to President Wilson by Speaker
Clark and Leader Underwood, both
candidates for the presidential nomi-
nation last year, and on the able
men in the cabinet, headed by Sec
rotary Bryan. 1t is this solidarity
which practically assures the success
of the presidents legislative pro-
gram and which has won such wide
spread popular support for the Will
son administration in the first six
of it's existence.
1t is reassuring to the three
democratic congressman from Iowa,
Congressman Pepper, Connolly and
that the Iowa democ-
racy is as free from factions as the
national democracy has shown itself
to be. The three Iowa congressman
are in perfect accord. They have
won recognition in the house and
have high standing at the White
House. They have acted as unit in
matters pertaining to Iowa affairs
and have been given as united sup
port by the Iowa democracy. They
lave been among the strongest sup
porters of the administration tariff
and currency bills and confidently
predict their passage.