New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-06-22
CURRENCY HOLD-UP IN
COMMITTEE EXPECTED
Chairman Glass Says He Cam,
Even Conjecture When the
Bill Will Get Out,
BRYAN WILL AID IT
General Feeling That Measu,.
Will Be Materially Amend.
ed Before House
Passes It.
From The Tribune Bureau +,

From The Tribune Bureaur
Washington, June 2i.-The p,c.-..
OF the fate Of the administrator V
rency bill became more pronounce, '
day as members OF the Senate and ".
began TO study its provisions Ch.,sN
Glass OF the House Banking and c~4
rency Committee seemed rather a.
hearted over the first reception Of -.
bill. and he declined to be drawn ,,..
discussion Of its chances for 1917,
passage.
Secretary Bryan tonight enno,.
that he was strongly in favor q, 49,
Glass bill, and he let II be know ,s.'
he would use what influence he couH =
bringing about it's early enactrns,, s.
Congress. Mr. Bryan will issue a s,,,.
ment tomorrow, giving his views n, -.
measure in full and detailing his "a,
sons for supporting It.
Mr. Glass, who has a rather rehsu,,,,
committee on his hands, would not eve,
forecast when the measure would co-.
from the House Committee, nor woul. :.
ing up his hands in somewhat hop.l.,,
fashion when the subject was brosch.c
Mr.. Glass said:
Don't ask me when the bill Will %.
out Of the committee. don't know Az,
I wouldn't attempt to make a guess ".
Will hold meeting early next week n.
first thing 10 be considered IS the Mana.
ing resolution for open sessions OF N.
committee. I don't know what they VIII
do with that. either"
Mr.. Glass smiled sadly and was rl.,.
when asked IL he was aware that Dero.
Gratis, including members Of his con,rn.
tee. had begun to pick flaws IN the hr
and that there was growing opposition !,
the House TO the measure as drawn
There was a slight CLEAN OF satisfactio,
in the eyes OF Mr.. Glass when the a.
servation was made that much OF N. m.
position was directed AZ the fact that N.
bill failed to provide for the retirersn,
OF the existing banknote circulation. Nr
Glass wanted this provision. but Il was
stricken out by persons higher up" a,
the eleventh hour.
Would Obviats Politics
Mr.. Glass was also In favor Of giving
the banks representation on the federal
reserve board. which Secretary Bryan
caused 10 be made a government board"
in entirety. Banking interests have ALREADY
started movement against the manner
OF creating the board which will control
future currency issues. Representatives
Of the banking interests fear the board
may be tinged with politics. since II,
members are 10 be appointed by the Pres.
dent and the banks will have no members
thereon. Under the original Glass bill
the banks would have been allowed three
representatives. and the board would have
consisted OF nine, instead Of seven men.
bers.
Representative Henry, chairman Of Il,
Rules Committee. who has consdsrabs
following in the House continued work
to-day on his bill. which will be Offered
in opposition 10 the Glass-Owen measure
Mr.. Henry thoroughly disapproves Q.
asset currency" and he also wants %
see existing national bank circulation re-
tired, in accordance with the platform
view OF the Democratic party.
General pessimlsm prevails at the capi'
toll regarding a date for adjournment
Prospects are the administration bill I'll
stay in the Banking and Currency Con-
progress through the House Will Be
laborious. II the Senate acts upon the
bill AT all II will upset present calcu.a'
lions.
There is also a general feeling that the
bill Is 10 he materially amended before
goes through the House, NOTWITHSTANDING
President Wilson's hint at the NhH
House conference last night that he "ouA
like to be consulted about propose'
changes. Further inquiry to-day con
corning the meeting OF the President VIZ
majority members of the House COMMIT
tee last night developed that he sousn'
specifically to assure the House mem
bers that he had intended no shsF
failing 10 call them in while the bill VS.
being prepared.
Opposition Persists
There still turks the spirit OF insursen9
among certain committee members ho''
ever. because they first read the oil a
the newspapers and no member exx"
the chairman of the committee was COZ
suited in advance. Other 'get-tose'ha
White House conferences are pracucaA'
certain.
II was said at the White House TOO"
that President Wilson would not comp'V
mise on the essential features OF w
currency measure, particularly u~s.
which concern concentration OF rese''.
in New York City and control Of ~
money market.
The night over the retirement OF -
900. 900 per cent bonds promises I'm.
spirited one Several Democratic ~" sgsA
hers of the House committee declare m
provision should have been retalnpe Dee.
the bill. II is understood that lne ssr
dent leans favorahly 20 suCh pIosln,,s8
but other trainers Of the blu are repporss
to have taken the position that sep "A,
measure incorporating that tealu'hs
be introduced In December II deslla0N
EWIME hC PATENTS CHlEl