The Ontario Argus. (Ontario, Or.) 1???-1947, 1913-06-26
news FROM OUR
NATIONAL CAPITAL
President Reads Second Mes.
sage to Congress Urging
Currency Reform.

ceaees went 10 congress again
tuesday to deliver the second mes.
sage of his administration, urging cur.
rency legislation before the close of
the special session.
The three principal objects Of the
administration measure are to provide
Tor rediscounting specified types Of
commercial paper; to give basis for
properly safeguarded elastic notes and
to provide the machinery for doing a
foreign banking business.
The measure provides for IL federal
reserve banks. In which national banks
and such state banks and trust com.
panies as wish will be stockholders.
In addition to the s7O0, 100000 national
bank notes now existing provision is
made for not more than $500, 1000 900
In federal reserve treasury notes, to
be used solely In making advances
to the federal reserve banks. These
banks. OF course. would do no bust
ness with the public. dealing only with
their stockholders and accepting de-
posits only from the United States.
Ultimate Reserve Systems.
The bill proposes ultimately the es-
tablishment OF reserve system In
which country banks will have Is per
cent OF reserve q. O.. 15 per cent OF
total demand liabilities). such Is per
cent to be held. per cent in the
banks vaults, 5 per cent with the ma
tional reserve banks and per cent.
either at home or with the reserve
banks, while reserve and central re-
serve city banks have reserves OF 20
per cent OF demand liabilities"
important Reductions by Committee.
Important reductions in the Under
wood tariff bill rates on iron, steel
and other metal products. the addition
Of cattle. wheat. pig Iron. Angora wool
and many other articles to the free
list and an Increase In rates on many
classes OF cotton goods and some silk
products were the chief features OF
the revised tariff bill as Il was laid
before senate Democrats by Chairman
Simmons. OF the finance committee.
President Wilson's desires as 10 FREQ
sugar In 1916 and free wool at once
prevailed In the redraft OF the bill.
Liquor Bill 10 Proposed.
A constitutional amendment to pro-
hibit the sale. manufacture and Inn
portation Of distilled liquor containing..
alcohol. except for mechanical. scIenti.
fio and medicinal purposes" was pro-
posed by Senator Works.
The amendment would allow three
years for adjustment OF the liquor
business before II became effective.
Senator Works said he had become
convinced that the only way TO deal
effectually with the big traffic was TO
prohibit the manufacture or importa-
ton OF intoxicating liquors.
May Stop FrankIna Privilege.
Abuses OF the franking privilege
through which the sugar trust recent.
iy disseminated $4,000 OF literature
at public expense. Is to be stopped.
according TO a bill introduced into
congress by Senator Kenyon.
Kenyon proposes the entire aboli.
ton OF the franking privilege for mem
bers OF congress and other public Of
ficials. He proposes scheme through
which the postmaster shall issue free
stamps to the favored ones and shall
keep close check on the amounts used.
National Capital BrevItIes.
The Indian appropriation bill carry
ing sl1, 100000 for the fiscal year be-
ginning July l. 1913. was passed We'd
nesday in the senate.
The president and Mrs. Wilson will
celebrate their twenty-eighth wedding
anniversary on Tuesday.
As reorganized by Secretary Frank
lin Lane. the department of the inter
ior in all its relations TO the great
west is a department wholly OF west
ern men.
The senate voted to accept the inyi-
tation OF the commonwealth OF Penn
sylyania to attend the semi-centennial
OF the battle OF Gettysburg.
and vice-President Marshall will ap-
point a committee OF nine TO attend.
A bill to control lobbying In con-
gress was introduced by Senator
Thompson Of Kansas. He divides lob
byists into two classes. legislative
counsel and legislative agents. De-
tailed provision is made for their con-
troll.
The senate ordered subpoena Us
sued for Robert 3. Lovett. chairman
OF the directorate OF the Union Pacific |