Las Vegas optic. (East Las Vegas, N.M.) 1908-1921, 1913-12-22
new OBSTACLES ARISE
CHIEF OF THESE is THE LATE
NESS OF ARRIVAL or CON-
FERENCE REPORT
NO FAVORITlSM TO OCCUR
VARIOUS CITIES DESIRING RE.
GIoNAL BANKS WILL HAVE
NO AID FROM soLoNs

Washington, Dec 22.--Although ad-
ministration leaders in congress bent
every effort for a speedy approval
Of The currency bill today that it
might be hurried to the White House
for President Wilson's signature be-
fore night, series Of delays develop
ed to hamper their progress.
Printed copies Of the conference re-
port were made late coming from the
printers, and the parliamentary stu.
alton in both the house and senate
seemed to favor delay. Democrats
in both houses were prepared, how
ever, to ask for speedy approval of
the disputed points agreed on by
house and senate conferees with the
hope Of getting the bill out Of the
way in time for President Wilson to
leave for his Christmas vacation in
Mississippi tomorrow.
1t was o'clock before unanimous
consent was given in the house to
take UP the conference report. At
that hour the report had not been
presented, and the leaders expected
at least two or three hours debate
when it did come in. As the house
must first dispose Of it. Its appear.
ance in the senate was not expected
before late in the day.
Other delays connected with the rou-
tine work Of preparing the report in
its final form for submission to the
house further upheld the plans of the
leaders and at $3.50 p. M, the house
and senate both were marking
time with the intention Of staying in
session until the bill was disposed of.
Prospects for a long night session
seemed bright
The currency bill in its final form
was reported to both houses of con-
gress today to be written into law.
The members of the conference com
mittee, which labored until dawn this
morning threshing out the differences
between the two houses, presented a
perfected measure which followed |
clostly the lines laid down by Presi-
dent Wilson IN his demands for cur
fency reform.
A general desire among legislators
to get away from Washington for the
Christmas holidays resulted in a pro
gram calculated by democratic leaders
to place the bill before the president
for his signature tonight and to clear
the way for an immediate recess.
The conferees agreed on practically I
all Of the fundamentals Of the meas t
ure as it passed the senate, including
the provision that not less than eight /
nor more than 12 regional banks should
be created. The reserve requirements
for banks entering the system. which
had been slightly let down by the
senate, were strengthened in confer
ence by an amendment allowing the
use Of the present bank notes, the pro
posed new federal reserve notes in
bank reserves being stricken out.
The last long-Grawn-out struggle Of
the conference was over the provision
from the administration that
the comptroller Of the currency should
be given 8 place on the federal reserve
board which will control the new sys-
tenn.
The senate conferees were evenly
divided on this proposition, three sen
ators joining with the house members
Of the committee in shaping the ad-
contention. It was near
" daylight when single shifting vote
brought the conference to a close.
The conference accepted the SEN
ate amendment Increasing the gold re-
serve behind the new notes to be IS
sued from thirty-three and a third per
cent as fixed IN the house. to 40 per
cent with graduated tax on deple-
ion. aa arranged IN the senate.
A compromise plan for retiring the