Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1913-12-19
CURRENCY FIGHT
IS NEARING END.
ALL OPPOSITION AMENDMENTS
MET QUICK DEATH IN
THE SENATE.
WILL PASS BILL TOMORROW
Leaders Expect TO Agree ON Bill and
send II to the President by
Next Tuesday.

] NcAi lhcNuhl'
WASHINGTON. Dec. ls.-Wlth tho
| democratic legislative machinery rum
ming smoothly tho administration
currency bill todny moved rapidly
toward It's final passage in the senate
The last ~ the opposition amend
ments TO the measure was voted
down, and Senator owen began tho
presentation OF the democratic
amendments calculated to perfect the
measure, which worc adopted without
meeting strenuous protest.
Legislative leaders declared tonight
| tho end Of the currency fight was in
sight In the house speaker Clark
and Majority Leader Underwood ex-
pressed the opinion that the measure
would go to the president and be
written into law by Monday or Tues
day at the latest Mr. Underwood an
nuunccd his intention OF Offering an
adjournment resolution which would
give congress holiday recess until
January 70 lust as soon az the bill
was passed Informal conferences on
the measures. he said. already had
settled an but few disputed points
I'm the differences between the two
houses
Opposition Voted Down.
The final efforts OF Senator Hitch
| cock and the republicans TO put some
Of their Ideas into the bill were voted
down one after the other today tho
serate operating under the agreement
10 limit speeches TO 10 minutes each
and hurrying debate along
Then Senator owen presented the
amendments agreed on by the demo-
cratic caucus last night. The opposi-
| tlon did not insist on roll calls and
| tho amendments We're adopted with
little debate, until Senator owen pre-
sented one TO authorize thesfederal
reserve board TO appoint attorneys,
experts and assistants" without re-
gard to the civil service laws Then
the republicans broke forth in pro-
test and prevented immediate action.
one amendment adopted provided
now employ former secretaries OF the
treasury, assistant secretaries, comp
trollers Of the currency or members
Of the federal reserve board FOR two
years after they severed their CON
ncction with the government. Another
change gave the secretary Of the
treasury discretion to use a part OF
the earnings Of regional banks to
build mp the gold reserve. The salary
OF the members Of the federal reserve
board was increased from 5000 to
$4,000.
number OF amendments calcu-
lated to simplify the work Of putting
the new system into operation were
adoped, and various changes were
made to facilitate the entrance OF
state banks and trust companies.
No Civil Service.
Senators Root, BristOw, Burton and
Cummins attacked the democrats for
the proposal that the employees OF the
board should be exempted from civil
service requirements.
1T now is apparent" declared
Senator BristOw, that the haste en-
forced I'm consideration OF this bill Is
not only proposed to quiet the flnan-
clal unrest In the country but also t.
satisfy the horde Of hungry office
seekers who have besieged the capt
tai for the past 10 months. Opening
up these positions to partisanship
would force the federal reserve board
to go into politics whether il wanted
90 or not"
Senator owen declared that but a
smal number Of employees would be
affected ny the provision, and as
serted that the amendment was pro-
iosed in order that the federal re-
serve board might not be hamperec
or DELAYED in beginning work.
When the senate recessed at
O'Clock the democratic caucus re-
assembled 10 perfect final amend
ments 20 the bill When the demo-
cratic conference adjourned at
o'clock II had completed work on the
blll and had endorsed amendments
covering number OF points most
vigorously demanded by republicans
These included provision for an ex-
tension OF the time limit on redis-
NVhiAAdhl' Dhstu On
agricultural transactions from 80
days TO ls0 days, with the discretion
left TO the hoard Of reserve to accept
the longer time papers The guar
antee Of deposits In state banks that
RAY ioin the associations as werf as
In the national banks and a provision
that would permit clearing houses to
continue their present system OF ex-
omlning transactions from banks
within the clearing house association.
The democrats determined 10 stand
by their amendment. taking out OF thu
civil service the experts and officers
or the new currency systems. The
amendment proposing to increase the
gold reserve behind the new treasury
notes from 3b per cent to 10 per cent
was further modified 30 that an addi-
tional tax OF 1 per cent would be i'm
posed when the reserve falls not more
than ~ per cent below that figure
and an additional tan OF y for each
additional decrease OF sx per cent
In the amount Of the reserve.