The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-06-23
lIstxd. he. repeated this assurances


Illexttd. ne repeated this assurances
NJ ~ ii,tsrvie~ between sesssohs. but
&46Ed thta although the bill could be
I rrnxArded as tentative, and that many
miner changes might be made. he be-
\ li<vrri ii would go through congress
Substantially as revised on Thursday
NJ IT'S trainers.
The bill viii nor be introduced by
s4ffrnxesf In tire senate and Represen-
u txtive Glass. IN the house, uHtif the
last of next week the senator said.
This was pleasing news 10 the
bankers II had been thought that
= the trneasure might be submitted to-
y ncrryw and the currency commits
{ sion Of the American Bankers asso-
citation were thinking Of having
meeting Tuesday to consider the Dill
as introduced.
The senator would not admit that
he had attended to6ay's conference
and all the bankers were silent as 10
what he or they haa said. but there
were a few sentences in the interview
which, IF he shot them at the hank
esx, may have cnused some mental
conmetton A reporter said to him:
what do YOU think 81 the ohjec-
lions Of some bankers, that the bill
would cause them to tie up their cases
= IN the regional reserve hanks. thus
bringing about a general contraction
OF. loans. and 'causing the greatest
Iiruidation the country has ever
Seem -
Microscope and Megaphonc.
sThat cannot harper" Senator
Owen replied. unless some bankers
.ssde It deliberately. and II they do II
WITH he observed. The microscope"
: he added after a pause, will be
turned or them. and the negaphone.
too. Equality Of opportunity, and the
rights Of the average man are going
! to be respected in this country, and II
any gentleman attempts 70 deny these
rights he will he pushed off the
srack-pushed of the track by the
quiet force Of public sentiment"
3 The waldorf conference began
I early IN the afternoon, and lasted
until late tonight. Several cities
were represented, and the four mem
lsrrw Of the American Banking asso-
Citations currency commission who did
not attend. had been compelled 20 re-
tnrn homo after the meetings last
week al Atlantic CITY
Among those at the conference
were A. Barton Hepburn, chairman
Of the board &c ne Chase National
9 hank, New York; James r. Forgan,
president OF the First National bank,
Chicago; George NJ. Reynolds. pres
.dent of the Continental and Com
fnerria1 National bank, Chicago; John
Perrin, of Perrin. Drake and Riley.
I 1oGmAUgeles: Levi l.. Rue. president OF
\ heGAitadelphia National bank, Phil
! adefphsa; Festus J. Wade. president
Of tie Mercantile Trust company, 81.
Lo,ifs; T. r, sartori. president OF tho
Security Savings bank, Los Angeles;
Arthur Reynolds, of Des Moines, vice
president Of the American Bankers
association. and Frederick r. Farms
i worth, of New York, secretary.
Senator Owen returned TO Washing
ton tonight, but the bankers expects
] 10 continue their conference tomor-
row Before he left the senator said
= that the nllI providing for the retire.
s ment of the present national bank
circulation and the disposition OF the
D two per cent bonds would not he In
troduced until the regular session OF
congress next winter. The original
intention was to push this bin right
4 along, AZ soon as the currency bill
was passed.
VIII BE No Change.
The senator snapped his jaws shut
when he answered no" to query
= as to whether any material changes
I would be made in the bill from now
. on.
4 NaBNtng asked MS to the desire Of the
Hankers that they be represented In
I Ire central reserve board, which Is 10
Epnfroi the banking and currency sys-
dem. and their fears that politics will
! interfere with Its workings because all
The seven members are to be appoin
4ees of President Wilson, or members
~ a ss,sa qsxry
Il replied:
1.-THE proposed banking system for
R4ving stability to commerce, and To
the banks Is properly government
tai function, and cannot be delegated
II fo a class II should he pointed out
4 Mat bankers do control the central
!, boards Of the regional reserve banks.
{ III Il true that the Members OF these
Il regional boards can he removed by
L ffe federal board. hut as their sue
/. EeAsors would be appointed by the
1. knrss control remains with the
1ankx'
Auother objection of the bankers Is
that the new currency notes should
!. be issued by the reserve banks in
stead Of by tn government. On this
I point Senator owen said;
!. TN my opin on the notes should be
issued by the government. They viii
be abundantly secured and VIII not
u be liability on the government the
safety Of these notes has been mathe-
rnaticaliy demonstrated by actuartes
whom we have employed. They are
,kerured by the gold reserve. the dou-
. 6le liability Of the stockholding banks
ID the reserve hanks, and by the as
eats OF The reserve bank"
d o. Senator Owen said he had been n
banker all his life. and that he knew
the administration was fully protect