The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-12-25
FIGHT PROMISED
IF WILLIAMS IS
NAMED FOR PLACE
Original Program Alter
ed in Face of Threat
ened Opposition.
CHOICE OF WILSON
FOR COMPTROLLER
Name Of Richmond Man Was to
Have Gone to Senate Before
Recess, but Leaders Find
That Republicans Have
Assumed Hostile
Attitude.
Especial to The TimeS-Dispatch.l ]

Washington. December ci-The ad-
ministration does not Intend TO lose a
single moment in beginning the work
OF organizing FOR the new currency
system. While President Wilson was
hurrying southward to-day for his
holiday at Pass Christian. Secretary
McAdoo and Secretary OF Agriculture
houston. constituting the majority of
inc organization committee under the
new law. took up their task. giving
! considerable attention to details
The Law. provides that the Comp
troller OF the Currency shall be a mem
Der "i the organization committee
ms once however has been vacant
several months. Deputy Comptrollor
Thomas p. Kane has been acting. but
| me new currenc! law makes no nro-
VISION Tor the deputy TO perform the
duties or the comptroller IN this mat
Ter. 1t has been generally understood
mat John shelton Williams. Assistant
"tc'etarN or tho Treasury. was TO he
tiNsh TINS office, which. with lts in
crease In compensation TO sIoo0o s.
year, and Is added duties ,rd rcsnon-
. slbilities, makes il one Of the most do
sirabic within the gift OF tho Pres,
dent
Way HAVE Opposition.
me original program contemplated
the sending Of M. Williamss name to
.he senate yesterday. in the hone that
he might Lc promptly con6rmed
Democratic leaders consulted wi,h ps.
pub'icans. however. and found that If
Hil. Nlliiams IL nominated as CONN
'iolieE the Republicans will insist
upoh thhing their time. and in look
ing very carefully into the oualif,ca-
.,ons "nI htness OF the nominee before
'n.y VII permit his confirmation.
lheic were indications that there
/ might Dc most determined opnosirio,
70 me appointment The charge was
m'oe mat the comptroller was incIud
eu az a member OF the Federal Is.ssrv..
9oaid because IL had been the pre,r-
ranged plan that Mr.. Williams should
De 'oinptrolier This opposition hav
'it ARISEN ana The two secretaries con
St,ut!ne quorum that could baqip
the work. the plan OF making tho an.
rointment was abandoned until after
tho HOLIDAYS
PRESIDENT Wilson is to have :. free
haho In the selection OF members of
thc Federal Reserve Board. who vjil
h"Nc supreme contrel OF the new cur
I 'eHcH system Anticipating that there
might be enormous pressure brouybt
10 bear for support for this ,nnor,o,,
position, both Democratic and RenunI;
can senators have entered into :, rap
'iet'ah agreement that they Will nor
'haNe any communications at all. no
matter VINO the candidates NAV he
me whole responsibility will be pass
.u "iohs TO the President. and when
the names have been sent 10 the San
ate that body will exercise Its consti.
tuHohn! rights TO scrutinize the selec-
| .ions ana reject any, If senator's be-
| heVe them ODE men not fitted for
mem pership on the Federal Reserve
Beard
First Important Duty.
Ihe nrSt important duty OF the Or
sanization Committee is to designate
the Federal reserve districts and tha
! number into which II will be best to
divide the country. Then the cities in
which the reserve bank for that dis
/ trict shall be located will be selected
Ihc law confines the number or r., :
serve banks to not less than eight. nor
more IMAM twelve. Secretary McA doc
said to-day that he expected TO begin
the task formally OF selecting the Fed
tr&l reserve cities tomorrow Ne en-
iaSized the fact that these desjrna
ions viii oe made with utter discruard
Tor local interests and solely with {,
".ew TO the general good and an abil-
Il. to care for the business OF The
country
I'VE expect to consider this prob
lem" said Mr.. McAdoo. lin the light of
what Will be most beneficial to the
entire country. Local interests will
have no part In our designations We
probably VIII outline the districts first
ana then select the city within each
district where the Federal reserve
bank will ne located"
The number OF reserve banks to he
designated has not been formally CON
s;dered. although undoubtedly since the
! agreement by the conference on the
! sliding scale, the secretary has given
the matter much thought. If the sys-
| tenn begins with eight banks. such
cities as Boston. New York, New Or
leans. Chicago, st. Louis, Denver and
San Francisco cannot be overlooked IL
seems assured that in either event.
Washington, because of it's Importance
as the seat OF government will be
given ono of these reserve banks Phil
adelphia. although a large city. is ad =
jacent TO New York and probably
would he within that reserve district.
. II twelve banks are organized at the
beginning. such cities at Atlanta, Seat =
tie. or Portland and Philadelphia will
be considered. The total number OF
| reserve banks. however. does not mat :
ter so much because OF the branches
that are to be established and these are
the institutions that will be expected to
| take care Of the purely local condi :
tionS
Secretary We'll satisecd.
Secretary McAdoO to-day expressed
mis- satisfaction at the way in which
the banks have accepted the enact
mcnt OF the new law and have re-
sponded TO il. The new currency
law" said he, has been accepted by
the banks of the country in Il thor
Oughly patriotic manner. / have never
had any doubt and have none now, that
most of tho national banks of the en-
CONTINUED On Third Pase)