Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1913-12-25
PRESIDENT SIGNS
CURRENCY BILL
Event Comes at Close of Day of
Rejoicing at the National
Capital.


Continued from page oneD
in a happy numor as he slowly wrote his
name.
I'm not accustomed" he said, ITO
write my name In a series"
We'll, the bill was made in install
ments" suggested Senator Lewis of H.
linois
Isn't that reflection on tho Senator"
inquired Representative Glass with a
, laugh.
Senator Lewiss retort was lost in the
applause that followed the completion of
the Presidents signature as he rose from
his desk. The President paid tributes
TO the heads of the two congressional
committees by writing each a letter. To
Representative Glass he wrote:
May | not express my admiration for
the way in which YOU have carried the
fight for the currency bill to an extraor-
binary successful issue? I hope and be-
lieve that the whole country appreciates
the work you have done at something
like It's real value. and rejoice that
you have so established yourself in its
confidence"
Now that the fight has come to n Sic
cessful issue, may I not extend to you
my most sincere and heartfelt congratu-
ations and also tell you how sincerely
admire the way in which you have con-
Quoted a cry difficult and trying piece
Of business? The whole country owes YOU
n debt Of gratitude and admiration 1t
has been pleasure to be associated with
you In so great a piece of constructive
legislation"
ROUND OF HANDSHAKING
When the President concluded his
speech there was a general reception and
a round of handshaking. The President
extended the compliments Of the season
to his visitors When everybody had
gone, he cleared up his desk and sat
thougthfully for a minute Presently he
walked to the corridor outside of his Of
fee
''Wheres Pat" ne inquired and the in
dividual addressed, Patrick Mckenna,
veteran doorkecper stepped forward,
blushlng with surprise, the President
seldom comes out in the corridors. The
doorkeeper looked up inquirinEly.
Merry Christmas. Pat" said the PreSi-
dent and he walked slowly over to the
White House to arrange for his trip to-
night to Pass Christian. Miss.
Banks in several Of the large cities Of
the country to-day telegraphed Secretary
McAdoo their applications for member
ship in the new federal banking system.
Two national banks in New York the
first from that city. applied, and ST
T
Philadelphia all came along with one or
more applications Three trust compan-
les. one In St Louis, one each in Balti-
more and Washington, applied The
clearing house associations Of Kansas
City. Mo. and Atlanta expressed approval
of the law and their intention to recon-
mend to member banks the desrability
of entering the new system.
George NJ Reynolds Of the Continental
and Commercial National bank of Chica-
go telegraphed that he expected to recon-
mend to shareholders entrants to the sys-
tenn,
Among other cities which sent applica-
tons We're Savannah. Ga, Houston
Texas BiruingAA..i, Ala, and Norfolk,
Va If priority of filing application is
ship, the honor of being first will 90 to
the Lynchburg National bank OF Lynch
burg, Va. Lynchburg is the home city
Of Chairman Glass OF the House banking
and currency committee.
Organization of the new banking sys-
tenn will be undertaken immediately hv
Secretary McAdoo of the treasury and
Secretary OF Agriculture Houston, two
of the three members of the committee
charged with the task by the law The
comptroller Of the currency is named rs
the third member but this office is low
vacant and cannot be filled until the
President sends a nomination to the
Senate upon his return to Washington
after the holidays 1t is agreed in official
circles, however, that Il majority is au-
thorized to act so the two cabinet Off
GERS are preparing to proceed without
waiting for full committee.
Treasury department authorities decide
that the deputy comptroller temporarily
in charge OF the office could not serve
on the organization because this duty
would be in the ex-ofilcio class,