The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-12-21
Veritable Saturnalia of Initiation
Would Follow, Says Chair
man Glass, in Fighting Pro-
posal to Accept.
ME ASSURE FINALLY
GOES TO CONFERENCE
Underwood Assists in Block
ing Insurgents. Guarantee
of Bank Deposits Stricken
Out by House and Senate
Conferees.

WASHINGTON, Dec. 2o.--Repre,
sentative Carter Glass, chairman of
the lower branch of congress- today
said Of the currency bill as 1t has
come from the senate
six months after the passage OF
this bill there would be a veritabie
saturnalia of imitation In this coun-
try"
This danger as viewed by Mr.. Glass
Is due altogether to changes made
In the bill by the senate.
Mr.. Glass will insist upon having
these changes corrected In the con-
ference between the two houses.
The administration bill is now In
the hands of the conference COM
mittee. and it is expected that they
will reach an agreement In time to
enable President Wilson to affix his
signature not later than Tuesday
next.
Agree to Conference.
The house today agreed to the CON-
ference proposed by the senate, Tha
Qonferees were at work at q Late
hour tonight, but had made no an-
nouncements. They will continue
their Iabors tomorrow.
For time 1t looked as II theirs
would be no conferences. Mr.. Glasss
and other leaders, had TO asserts
themselves to the utmost to head OFT
a movement to persuade the house To
concur In the bill just as 1t came from
the senate, Western Dem ocrats. led,
| by Alfalfa Bill Murray, of Oklahoma
engineered a demonstration Designer
| to force the house to accept the bill
as passed by the senate and to for
ward 1t to the president without
delay.
BY making a concession to Western
and Southern Democrats, the house
leaders finally were able to carry out
their plan to send the bill to con-
/ ference.
| Chairman Glass called up the bill
in the house. He moved disagreement
In the senate amendments and con-
ference with the snate. Mr.. Murray
then made his motion to concur. which
was defeated by n vote of 294 to 81.
Opposing this motion, Mr.. Glass said
that the house should not proceed
in Ignorance.
1.-THE gentleman from Oklahoma
does not know what Is on the Dill,
said MIR. Glass
A forty minute debate followed. In
which the leaders rallied their sup
porters,
Concession Is Made.
A resolution offered by Repreaen.
tative Lever, of South Carolina, In
struoting the house conferees to COM
cur in the senate amendment In
creasing the period of maturity On
agricultural paper from ninety days
to six months and authorizing loans
made on farm property to run for
I five years instead of one year was
accepted by the sleaders and at once
! brought cohesion TO the Democratic
ranks. This proposal was adopted
A motion made by Representative
Mann, of Illinois, the Republican leader
that the Hitchcock bill be accepted as
substitute. was defeated by vote
of 25T to SO. Then by a viva voice vote
the house sent the bill to conference.
Speaker Clark named Representatives
Glass and Korbly. Democrats. and
| Hayes, Republican, as conferees on the
/ part OF the house.
/ Speeches made by leaders. notably
! Chairman Glass. prevented possibly
/ stampede in the house 20 accept tho
senate bill without change Mr.. Glass
was bitter in his denanciatlon of the
/ senate bill.
| would Not Work.
] II do not believe that the bill ~
! returned from the senate would be
| workable law" said he. The reserve
/ section of the bin has been so altered
/ that the cash reserves TN member banks
! amount to less than both the present
! cash reserve and the credit reserve ball
ancas Is the house willing TO approve
thatq Six mort4s after the passage Of
| this bill there would be veritabls
saturnalia OF imitation in the country"
/ The farst meeting of the conferences
/ COMMITTEES practically determined to
1 eliminate from the bill the Insurance
OF bank deposits.
| Several members of the conference
COMMITTEES admitted that this feature
would go out
| The house conferees also took .
| firm stand In favor OF restoring the
| secretary Of agriculture and the comps
I troIler of the currency to membership \
/ in the federal reserve board. At tbs
very outset of the conference. the house
mernb declared they would not yield
to the limitation put upon the number
/ of regional banks fixed by the senate.
! There are a number OF other points Of
/ difference. sSs