The citizen., 1913-11-21
WASHINGTON.
Legislative and Cen
eral Topics from
the Capital.
Washington, d. c.. Nov. II, 1o13

Washington, ID. L.. Nov. II, 1913
With the Administration Currency Bill
due TO be reported to the Senate this
week. after long delay, a plan to revise
the National banking laws to meet the
new currency system las made its ap.
pearance in legislative circles. Il will in
clude important questions originally con.
templated as part of the Currency Bill,
but set aside until the next session of
Congress, when a general revision of the
banking laws have been promised by the
Wilson Administration.
In connection with the proposed revis-
ion Congress will take up the far reaching
question of rural credits, the problem of
providing cheaper money for the farmer
who now mortgages his land at high
rates of interest to secure ready funds.
The Rural Credits Commission, after an
exhaustive investigation OF the subject,
including an examination of farm loan
systems abroad, is at work on a report
to Congress, which will recommend
some sort of law on the subject. The
commission expects to report early in
the next session.
The many recommendations of the
Money Trust Investigating Committee of
the House, which went into the question
of the concentration of money and cred
its exhaustivelv during the last Congress,
also vii, be used in the work of revision.
The regulation of the Clearing House
Associations and Stock Exchanges by
Federal laws will be considered in this
connection One of the provisions
which probably will be inserted in the
new law, will forbid interlocking di-
rectorates in national banks. An effort
has been made to put this prohibition in
the present Currency Bill, but the Ad-
ministration has maintained that 1t
/ should go INTO the new barking law.
The Senate, banking and currency Ad-
minlstration supporters this week de-
clined to consider scheme for guafan-
teeing national bank deposits, with the
understanding that that question would
be taIen up next session.
Advocates of the bank law revision
plan are seeking to place their projects
, ahead of the proposed antitrust legisla
tor in the Administration program. The
| antitrust program is being vigorously
discussed. and has not vet taken definite
form, so far as the administration is con-
| cerned, although many individual anti
trust measures are apparent i'll the House
and Senate.
The Progressives antitrust program.
the main feature of the third party'S leg
islatIve plans for the next session. is out
lined in three bills which Representa-
| tive Murdock, of Kansas, the Progressive
leader in the House, introduced Tuesday.
the 18th inst. They embody proposals
to create an InterS State Trade Commits
sion, to prohibit unfair competition and
( to suppress monopolieS. Following the
conferences which were held during the
! last six months, they are the Joint pro-
! duction of Mr.. MurdoCk, Dean William
| Draper Lewis, OF the University o.
Pennsylvania Law School; Herbert Knox
Smith, former Commissioner of Corpo-
rations, and Donald r. Richberg, di-
rector Of the Progressive National Legis-
lative Reference Bureau.
These measures will be added to the
House Judiciary Committees already
! full docket of antitrust bills. which hive
been introduced by the members Of three
parties Administration Senators hoped
! tonight to begin work on the floor of the
Senate on the Currency Bill, the latter
part of this week The Administration
draft Of the bill, as framed bv six Dem
ocratc members of the Banking and
Currency Committee, was discussed with
! the President recently by Chairman
Owen, of the committee. The President
generally endorsed the measure as finally
agreed on by the six Democrats,
In an effort to hurry the bill along to
the Senate, the five Republicans on the
committee and Senator Hitchcock held
a meeting tonight and continued work on
their draft of the bill, making many minor
changes and correcting the phraseologv
The Republicans hope 10 conclude their
first draft bv Tuesday, aud tine bill will
be taken up in a meeting OF the full com
mlttee called for that day. Republicans
and Democrats will report unanimously
on those features of the bill upon which
they can agree, and will report disa-
greement on the disputed points.
/ Tie Civil Service Commission an
! nounced today that examinations will be
held within the next thirty days for the
positions of tourth-class postmasters in
the States of Vermont. New Hampshire.
Florida, New Mexico, Virginia and
| North Carolina.
In this connection a statement issued
by the Postcffice Department said:
This order (Presiden, Wilson's order