The Washington herald., 1913-11-12
Amendments to Currency Bill.

The more the currency bill Congress the 1t
apparent public sentiment vo the enactment Of the BILL pro-
vded can amended particulars what these par
ticuas are has plain has on;
amendments must confess do not to to be suoh
any them hostile the general and
intent of the In other words cannot understand how tne
principal that have been offered rather these amend
which both public sentiment and the sentiment of experts
necessary should be either Senator Owen or MT
representatives Congress of the
The changes the suggested by banking interests large ana
interests political economists and substantially every
body except the official of the Glassowen BILL are that tn
number of regional banks proposed the bill should be cut down from
the unwckabe number Of wev that should be found Oh
bringing banks into closer with the system through
perhaps establishment advisory council bankers win
right be present at meeting the managers OF ne
the Federal Reserve Board that the language OF the OIL
shall framed that there shall exist doubt whatever tna an
fat money neither contemplated at present nor made
future that than has hitherto been sug
gted be found Of providing for the redemption at par W tn
ment per held by the banks
it that these amendments cannot be at once accepted o
administration forcs Can be supposed that these changes WI"
suberve secret and subtle design Of the money powers
well known that the need of them has been emphasized more
strongly than by any one else by the small bankers Of the
country all that the changes are proposed
by those who supported present national admna
ton fuheartedn in the last national election ana
by recognized without qualification the most intel
ligent md public-spirited in country
We possessing sufficient knowledge OF
banking currency able
against the modification Of the GaoWen currency Dill
We confess however that we cannot see
Reeds amendment such striking modification OF the
pending considered radical change in the bony
bill and therefore, unacceptable by the friends Of
the administration must regard Senator Reeds
amendment to the furnishing less wghty proof that
there is the opinion that the
perfect Senator oGorman said the other day the
Banking Committee that he did not believe the bill as II came
from with the sincere approval of any member OF the
Senate committee All to
pope that should be carefully debated and looked at from
every possible point of view before it is passed.
One amendment bill that has already passed the Senate
Committee Banking Currency meets with hearty approval
and we believe approval of the whole country This the
amendment striking the lawful money from the bill whe
ever they occurred making the solely OF gold
We can conceive no why member of Congress- person
identified with the administration should wish to retain the
"Is,u money clause of the bill all very well to explain
more or less way that the words lawful money meant
gold or through the application of the law already upon
the statute books placing gold basis but for all
that the clause money left color and shade upon the Dill
that absolutely undesirable Bankers and Others have universally
recommended its elimination We glad that the Senate committee
mas eliminated it.