The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1913-08-27

first triumph of the PEOPLE in con.
nectiOn with currency legislation in a
generation. 1t is hard to overestimate
the value of this feature of the bill.
I'm the second place, the bill pro-
Vldes for government control of the
issue Of this mOney-that is, control
through a board composed of gov
ernment officials appointed by the
president with the approval of the
senate. This is another distinct
triumph for the people, one without
which the government issue Of the
money would be largely a barren vic,
tory. third provision in this bill
which / regard as Of first importance
is the one permitting State banks to
share with national banks the advan-
tages Of the currency system pro-
posed.
These three provisions are, to my
mind, Of such transcendent import
ance that l am relatively but little
concerned as to the details of the
bill. / do not mean to say that the
details are unimportant, but what
ever mistakes may be made in details
can be corrected easily and soon. A
wrong step in the matter Of principle
would be more difficult 70 retract.
take it for granted that no one who
really is in favor of the bill will per-
NIT difference Of opinion on a mat.
ter of detail to lead them to jeopar-
die the bill
"The papers have, in few cases,
reported members of congress as pre-
senting views which were alleged 10
be mine. l do not know to what ex-
tent these reports may eXaggerate
what has been said and done, but you
are authorized to speak for me and
say that l appreciate so profoundly
the service rendered by the president
to the people in the stand that he
has taken on the fundamental princi-
pies involved that am with him on
all the details.
III my opinion has inheunce with
any one who is called upon to act
upon this measure, l am wiling to as
sumo full responsibility for what |
DO when l advise him to stand by the
president and assist in securing the
passage Of this measure at the ear
liest possible moment. am sure
that the president will be ready to
join in making any change in detail
that can be made to advantage, and
being sure of his singleness of pur-
pose, l am willing to leave to future
action the correction Of any provision
which he may now regard as essential
to the plan and purpose of the bill"
Democratic members of the senate
currency committee today discussed
tho advisability of holding brief
series Of hearings after the bill reach
ed the senate. If such hearings are
given they will be restricted to the
testimony of men invited by the COM
mittee to appear.
President Wilson tonight. expressing
his warm admiration OF the way in
WhlCh the house caucus was doing its
work under guidance of the commit
tee on banking and currency, issued
the following Statcmcnt:
Il ann proud. as every Democrat
must be, of the way in which the COM
mlttcc and the caucus have accom-
pllshed consistent piece of construc-
tive work with the frankcst discus
sion and under the ablcst leadership,
the Democrats have shown their ca
paclty as Il party to serve the country
by an admirable piece of business leg
lslation. 1t must stimulate the coun-
try To see such evidences of harmony
along with constructive purpose i'm "A
work of no small CompleXity ana diff
hculty."