The Lancaster news. [volume] (Lancaster, S.C.) 1905-current, 1913-10-07
THE CURRENCY NOW
IN THE LIME LIGHT
Bill Passed by House May Find
Obstacles in the Senate.
THE PRESIDENTS VIEWS.
At White House There is Confidence
Currency Legislation Will be
Enacted This Session.

Washington, Oct. 5.-Political
Washington, relieved of the long
drawn out consideration of the tariff,
will focus it's attention this week on
the second of the Democratic reform
measures-banking and currency
legislation
Though the administration cur
rency bill EARLY passed the house, it's
pathway in the senate admittedly is
ate banking committee has not yet
begun consideration of the bill. Pre-
dictions at the capitol are general
that the senate committee will oe at
work for a month on the measure.
While there was unanimity on
tariff revision, widely divergent views
are held by Democratic senators on
banking reform. A strong desire for
a single bank with branches, under
government control, instead of a re-
gional reserve system of banks, has
made its appearance in the informal
discussion. Other changes of far
reaching character are being sug-
gested and it is regarded generally as
doubtful If a bill satisfactory to the
senate banking committee can reach
the floor of the senate before the
middle of November
CONFIDENCE AT WHITE HOUSE.
At the White House there is a con
fidence that the bill will be passed
this session of placed on the statute
books before the first of the year.
The President wants thorough con-
sideration of the currency bill and
any improvement that the senate can
make upon the measure as passed by
the house will be welcomed. His
disposition, however, is to strongly
oppose any undue delay. President
Wilson believes a general decrease in
the cost OF living that will be felt by
the rank and file of the country, is
not alone dependent on tariff revis-
ion, but upon prompt reform of the
nations monetary system as we'll as
careful amendments of the anti
trust laws.
The President view Of the effect of
the tariff is in accordance with expires
sions from Representative Underwood
and other Democratic leaders that
while reductions in some cases will be
immediate the general benefits will
not at once be apparent Even
though the tariff laws might bring
many imports into this country at
low rates or free OF duty, the evils of
price fixing, under-selling and other
discrimin ations in restraint OF trade
DllbhI III IhC ue-
feat the fruits of tariff reform.
FREEDOM OF CREDIT.
Another essential to free competi-
tion, in the Presidents view is free
dom of credit. With the concentra-
tion OF credit in what the President
described as IAN inner circle" even
the benefit of trust regulation and
tariff reduction can be withheld
from the consumer by the sitting Of
enterprise.
None OF the administration lead
ers entertain the idea that the tariff
will have any adverse effect. On the
other hand, they have pointed out
that an elastic financial system is
now necessary more than ever. AS
soon as the December session opens,
the administration will begin to cen
ter it's attention on the antitrust
program. There Is no intention at
the White House to draft the admin
istration measure. What Is expected
to happen is that the members OF the
house Judiciary committee and the
senate committee on interstate COM
merce will confer early with Presi-
dent Wilson and discuss the subject
informally. The President hopes
that before the antitrust bill is
launched there will be a common
agreement on 1t in the committees.