The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-10-09
O'Gorman and Hitch
cock Resent Criticism
Expressed of Them.
TO CONTINUE TO
HEAR EVIDENCE
New York Solon Says No Mem
Der Favors Currency Bill as 1t
Stands To-Day - President
Wilson Demands Re-
traction From Wash
ington Paper.

Washington. October s.-Attacks on
members of the Senate Banking and
Currency Committee and efforts to
force action by the committee on the
administration currency bill were
severely condemned in an informal
executive session of the committee to-
night. Senator's O'Gorman and Hitch
cock. styled out as individual objects
of two attacks within the past three
days. demanded that the committee
take up the matter. and for an hour
the criticisms were discussed.
After the meeting, Senator Hitch
cock said that the members of the
committee had unanimously expressed
their opinion that any organized ef-
fort to coerce the committee, or to
circulate unfounded criticisms OF
members of the committee, was to be
condemned. He also declared that
the members had condemned the criti-
cism OF himself, made public in a
statement by Representative Carter
Glass. who piloted the administration
bill through the House.
VIII Not Act Prcmnturciy
Senator O'Gorman said that the
meeting resulted I'm a general express
sion of good feeling among the mem
bers of the committee. and an under
standing that further efforts to
force the committee to act prematurely
would be tolerated The letter Of
President Wilson. published day
repudiating quoted statement at
tributed to him, characterizing as
rebels" the Democrats opposing the
currency measure. was read in the
committee and was accepted as dis
claiming any extraordinary efforts on
the part OF tho President to force ac-
tion by the committee.
Chairman Owen who has led the
support Of the Presidents bill in the
committee. was not present during the
discussion. He left shortly after the
COMMITTEES went into executive session.
o'Gorgna Is Arouncd.
senator o'Gornan apparently was
greatly aroused over a criticism OF his
course in the committee as published
70 day. few minutes after taking
his place at the committee table, he
interrupted the testimony of Frank
A. Vandcrlip, of the National city
Bank, to remark:
IT do not exaggerate when I say
that no member OF this committee is
in favor of enacting this bill as IT
stands to-day."
Senator Hitchcock expressed the
opinion that the committee would find
il difficult to hasten consideration of
the bill so that 1t could be passed by
the Senate before the beginning of
the regular session on December l.
The committee adhered to its de-
termination to hear all witnesses de-
string to discuss the bill up to Oc-
tober %.
VnndcrIip Indorscs Features.
General Endorsement of several fea :
lures of the bill was voiced to-day by
Mr.. Vanderlip. who also suggested
numerous amendments. which he said
were necessary to make the measure
a working success. lie will continue
his discussion OF the bill Tomorrow.
Mr.. Vanderlip to-day criticised adj
versely the independence of the region
al reserve banks. the character of the
note issue plan and the section COM
pelling all national banks to become
members of the proposed system
He found many excellent qualities In
the administration plan and took Is
sue with many bankers who have
criticized 1t adversely. repetition of
the panic Of 1907. from sIch causes as
brought II about would be Impossible
under the proposed system, said Mr..
Vanderlip. He declared the call loan
market would be greatly minimized in
Importance under the new plan, and
that hundreds of millions vf dollars
now used for call loans on stock ex-
change collateral w .uld be turned into
commercial channels. The reserve
system proposed would be superior to
the present system. he said.
President Asks Retrnction.
The letter made public by President
Wilson to-day in rcfutation Of certain
published reports Of his activity in cur :
rency legislation was as follows:
ITO the Editor OF the Washington
Post
Sir am quoted in your Issue OF
this morning as saying that any one
who does not support me is no Demo
crat, but Il rebel. or course, I never
said any such thing. 1t IS contrary
both to my thought and to my char