The Washburn leader. [volume] (Washburn, McLean County, N.D.) 1890-1986, 1913-12-26
Currency Bill Sign
ed By President
Wilson Claims the New Measure
Will be Termed Constitu-
ton Of Peace.

E1OU Oh 1SACe.
Washington, d. c., Dec. 23.-
With few strokes of his pen
the president converted into law
the measure to be known as the
federal reserve act, recognizing
the nations banking, currency
words of the president, "machin-
cry for free and elastic union
controlled credits, put at the dis
posal. of merchant manufacturers,
the first time in SO years.
Applause ran through the cere-
mony as the president, after af-
fixing his signature delivered a
speech characterizing a desire Of
the administration to take COM
mon counsel with business men
and the latteris efforts to meet
the governments s advances as a
constitution of peace"
Wilson expressed pleasure over
the evidences Of the team work
which had developed and said it
was a matter of real gratifi-
cation that there should have
been so considerable a number Of
republican votes cast for the
BILL"
CAS- for the bill itself l feel we
can say it is the first Of a series
Of constructive measures by which
the democratic party will show
it knows how to serve the coun-
try He discussed briefly the
tariff passage, which he consider
ed an important accomplishment.
Wilson declared men were no
longer resisting the conclusions
which the nation had arrived at
as to the necessity Of the read
justment Of it's business. SBusi-
ness men Of all sorts are showing
a willingness to come into this
arrangement, which ] venture will
be characterized as the constitu-
tion of peace. So by common
counsel and the accumulating for
of cooperation, we are going to
seek more and more to serve the
country"
The scene at the signing of
the measure was not unlike that
attending the completion of the
tariff law. The conference report
which had passed the house last
night by an overwhelming vote
was likewise adopted by the SEN
ate this afternoon by vote of
43 to 25 the republicans voting
again with the democrats.
The engrossed bill, with the
signatures Of the vice president
and the speaker, was brought to
the white house. and. .the.ceremony
of signing began at 6 o'clock.
The president used four gold pens
to sign the measure. He present
ed three pens to Senator Owen,
Representative Glass and Secre-
tary McAdoo, co-authors Of the
bill, When the curious crowd ask
ed disposition of the fourth pen
the president remarked:
This is the forty per cent
gold reserve. 4
The event closed the day re-
joicing, as congress has recessed
for two weeks, the first since
convening in April.
Washington, Dec. % The House
passed the conference report on.
the administration currency bill
at 1O:46 tonight, by q vote Of
298 to 60, sent report to senate
which wait. d. in session to re-
ceive it before adjournment for
night.
g The final vote on the conferen-
ce report in the senate will e
not later than 2:3O tomorrow,
and was fixed by unanimous con-
sent just before 10 clock to-,
night. At the suggestion Of Gal |
LANCER, the repubi lean leader, ].
Gwen agreed not to press the
report for conside deration tonight
in return for the agreement Of q
vote tomorrow. /
Prolonged and uproarious chee
from the democrats greeted the
announcement Of the vote by.l
Speaker Clark, and many Of the
house hastened over to the senate
t63 see the report received there.
regarded it certain that