The Washington herald., 1913-07-25
CURRENCY SENTIMENT
Is EVENLY DIVIDED
Wall Street Journal Publishes Article
On Views of Various Sections
in the Bill.

| New York. July 24-The Wall Street
Journal tomorrow will publish an article
entititd. Country Views on Currency
Bill" as follows:
The United States Mortgage and Trust
Company of New York has made a can
vass Of some OF the important center3 OF
| the country as to the opinion held in the
| respective localities on the pending cur
rency legislation.
THE company sought the views OF Its
banking correspondents, attorneys, and
business representatives. and has tabu-
lated the replies so as to arrive at con-
sensus of opinion in the different sec
tions. While the territory covered does
not include New England and the States
north Of Virginia. nor the larger money
centers, such as Chicago and st. Louis,
IL embraces a sufficient area to furnish
the basis for a comprehensive surrey.
Answers were received from forty
two cities located in twenty states IN
which the company's mortgage invest
ments are made. Analysed IN general
way. twenty-five cities are recorded as
favoring the main features OF the pend
ing bin. ten are opposed to 1t. and there
are ten cities in which public sentiment
appears to be divided.
.sThs South, IL would seem, generally
regards the bill with favor, judging py
the opinions expressed in that territory
The Northwest Is rather evenly divided.
but i'm favor of the bill, II anything. The
Inter-mountain States show sentiment
generally opposed to 1t, while opinion IS
largely unfavorable in the North, Gen.
trail. and Middle Western States to leg
isla as at present outlined
con studying summary of opinions re-
csiyed. It is apparent that the Federal
control feature of the proposed system Is
not liked. The consequences are feared
in most cases. The main objections may
be briefly stated as follows:
Il. Inadeauacy of banking representa-
tons upon the Federal and district
boards.
49,. General fear Of the political control
as the result of the proposed appointiSe
arrangement.
IS. Scattering rather than concentration
of reserve funds through the operati III
Of the regional system.
~ Anticipated curtailment Of credits,
with its consequent effect upon earnings
in the case of individual banks.
IS. Objection from the 1nter-Moun-
tain region to the issuance Of currency
against assets obligation
&c. anxiety as to possible forced de-
naturalization of institutions now under
Federal control
summarizing, the I nlteQ states MOTT
gage and Trust Company Gays:
Ion the whole. it is evident from the
expression of opinions received that there
exists E1rked tendency to await further
modification of the proposed legislation.
the general feeling being one Of hope
that the measure. when finally enacted.
will prove acceptable to the country at
large
while the assembling of the different
expressions of opinion is interesting. it
Is doubtful whether the replies received
are properly representative of the pre-
vailing opinion in the respective sec
lions of the country. In such matters
there Is danger of taking a few isolated
remarks as representing general ideas
THE United States Mortgage and Trust
Company has evidently tended to over
come this objection by gettin the opin-
ion Of three different representative
bodies In a city. but even then 1t Is
doubtful whether they adequately voice
the sentiment of the whole community"