New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-07-22
DEMOCRATS IN REVOLT
OVER CURRENCY BILL
Measure in Jeopardy Unless
President Puts Strong
Pressure on Insurgents.
RAGSDALE QUITS IN HUFF
Makes First Open Demonstra-
ton Against Measure by Leav-
ing Committee-Incensed
at Chairman Glass.
From The Tribune Bureau

fFro.n The Tribune Bureau
! Washington. July H.-Open revolt ap-
peared to-day at the conference OF the
/ Democratic members of the House Bank
/ ing and Currency Committee. and the ad-
ministration currency bill is in Jeopardy.
/ Unless President Wilson and other Leaders
bring immediate and strong pressure 10
bear on the insurgents the prospects are
! that the bill will not emerge intact from
| the House committee.
| Representative Ragsdae Of South Caro-
! lina, one Of the Democrats Of the Banking
and Currency Committee washed his
/ hands of the measure this afternoon He
I left the Democratic conference in hun.
/ informing Chairman Glass and his col
/ leagues that further conferences would
not require his presence. The rather dra-
matte denarture OF Mr. Ragsdale from
/ the committee room is the first outward
/ indication of the dissenson which has
] long existed among the majority members
/ OF the committee.
4 After Mr. Ragsdale had quit the com
n.ittee to-day two relatively important
! amendments to Section Il were tenla-
/ lively agreed on by the remaining Demo-
Gratis. one amendment strikes from the
! section the provision that the emergency
| issue of federal reserve treasury notes
| shall be limited TO $4,000 900. As the bill
/ now stands. the emergency issue VIII be
measured by the needs Of the country IN
times OF financial stress. The second
amendment provides hard and fast rule
that federal reserve banks. in disbursng
/ Treasury note issues shall maintain a
gold reserve Of 80 10 per cent Of the
issue.
Administration Measure in Danger
The tentative adoption OF these ana
other minor amendments. however. was
/ overshadowed by the critical situation eX-
isting among the Democratic trainers OF
; the bill. -Four members Of the committee
are showing Increasing tendencies toward
/ insurgency. II these members are not
/ brought into line they can combine Win
| the minority when the bill is brought into
/ the full committee and overtime" the al
mlnistraton measure.
/ Mr.. Ragsdale's withdrawal from the
conference to-day came without warning
/ and is indicative Of the general lack OF
! harmony. lie asked Chairman Glass Tor
copies OF all the amendments offered 10
! the currency bill while II has been IN con-
/ ference for tho last two weeks
Mr.. Glass replied that many Of the
/ amendments we're immaterial that others
had been defeated. and that OF the entire
/ lot a number had been thrown into the
/ waste basket Thcrcupon Mr.. HaBsdaie
/ dramatically announced that he wa
/ through with the majority conference ana
| that IL made no difference 10 him what a.
I ton might be taken by ms DeIhoJ ave
! colleagues lie stalked out OF the room
! on the outside the recmcltIaht S2u,n ~
Gilman remembered that he had lett MS
/ cane behind. ..o
| swung 10 over his arm ana went aHay'
/ he said tonight that he would attehu 20,
] fuorrov.'s session prepared 20 take pal
I i'm tb. consideration Of tho measure. me
/ fact. however. remains that harmony COOS
I not exist among tn" temperate Il'''lU'. -
| and there are four. aud poSSlpIs M
/ ,,,. i,rity members who are not lot th'
| riass.Gv,n IN These are Representa-
lives RaEsdalc. Wingo, Eagle ana Neel'y
! Nj KorHIv and MIR Buckley are also on
The outer edge OF insurgency.
Preparing Substitute Bill.
REPRESENTATIVE Henry. chairman OF the
Rule. Committee and an opponent OF inc
Glass owen bill. is more OF less frequently
lir conference with the four hrst men
,opcd members. II is an open secret that
a substitute currency bill is I'm the process
of making. and II will be offered IN tho
Democratic conference. As previously
forecast i'm The Tribune, this substitute
bill will be carried into the House II re-
/ iected I'm committee
Mr.. Ragsdale's farc-up to-day followed
bis visit 10 the White House, where ne
talked currency with tho President
That the South Carolina member was
not brought into line by the President
Was shown when he made "A peremptory
demand upon Chairman Glass for copies
Of the amendments offered by various
uembers TO the bill. IL is believed that
Mr. Ragsdale and other insurgent mem-
bers intended TO present these amend
ments To Mr. Wilson and other Demo
cratic leaders as revealing wherein the
administration bill is unsatisfactory to
the insurgents
President Wilson told visitors at the
White House to-day that tho delay the
currency bill has encountered was moth
ing more than he had expected because
of the Importance OF the subject and the
length of tine required 10 frame proper
]