The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-12-20
Widely Different From
Currency Measure
of House.
WILL BE SETTLED
AT CONFERENCE
Six Republicans and One Pro-
gressive Join With Democrats
in Adopting Act-Expected
to Reach President Wilson
by Monday for His
Signature.

Washington. December 1o.-The adj
minstration currency reform bill. pro-
posing revision OF the financial sys-
ten of tho United States and the Gre
alton of regional reserve banks to
act as stabiiizing elements IN the bank
Ing and financial world, passed the SEN
ate Tonight by a vote of 81 to "a.
Forces that had fought together for
Improvement and amendment of tho
measure to the last. divided when tho
final vote came Senator Hitchcock.
who had led the opposition to the BILL
voted with the Democratic ranks. and
Senator Weeks. one OF the leaders OH
the Repubiicon side, with five other
Republicans. and Senator PondeXter,
Progressive, voted for the measure
Wide differences exist between the
form OF tho Legislation passed By tho
Senate and the bill that passed tho
House several months ago Democratic
leaders already have partly adjusted
these differences, however. and t was
predicted Tonight that the bill would
be com mpletc1 hy a conference COM
mittce, and sent to President Wilson
for his signature by Monday night.
The adoption OF the bill kpown as
the Owen bill, followed upon the formal
defeat by a to II of the Hitchcock
bill" which had been indorsed by SEN
ator Hitchcock and the five Republi-
Senate committee that passed on tho
legislation. The Senate had previous
| iy rejected without a roll call, a Cen
trail bank" bin offered as substitute
! by Senator Burton
| How Senator's Voted.
| The Senator'S who voted for tho
| owen bill were:
Democrats-Ashurst. Bacon, Bank
head, Bryan. Chamberlain. Chiffon,
Clarke. Fletcher Gore, Hitchcock. IIol-
lis. Hughes, James, Johnson, Kern.
Lane Lea. Lewis. Martin. MARITIME, Nv
ers. Newlands, O'Gorman, Overman.
owen, Pittman. Pomerene. Ransdel,
Reed, Robinson. Salisbury. Shafroth,
Sheppard, Shields. Shvcly, simmons.
Smith. OF Arizona; Smith. OF Georgia:
smith. OF Maryland; Smith. OF South
Carolina: Swanson Thomson. Thomp-
son. Tillman, Vardaman, Walsh and
! Williams-i7.
! Rcpublicans--Crawfor James. Per-
kins. Norris, Sterling and Weeks-6
| Observation-Disclosures.
| Those who voted against the bill
| Republicans-B Borah Bradley. Brady.
Brandegce, Brlstow. Burton Catron.
Clapp. Colt. Cummins. Dillingham;, Du-
pont, Gallinger, Con-. Gronna, Jackson.
Kenyon. La Toilette, LippItt. McCum
ber. Mclean. Nelson Oliver. Page.
Penrose, Root. Sherman. smith OF
Michigan; Smoot. sutherland. Stephen
son. Townsend Warren and Works.
lsi.
! Absent and paircd
| Burleigh, Clark (Wyoming), Culber-
son. Fall, Lodge, Stone, Thornton
! cy)-AlabaIna.
Mrs. Wilson Interested.
! Throughout the afternoon. when
vote on the bill was momentarily ex-
pected, Mrs. Wilson, with party of
friends from the White House Secre-
tary McAdoo and Joseph Z. Tumulty.
President Wilson's secretary, were in
terested spectators. Mrs. Wilson stay
ed In the private gallery until o'clock.
but LETT before the bill had passed.
Galleries and the floor OF the Senate
were crowded throughout the day and
the passage OF the measure was greet
ed with unchecked applause from tho
galleries.
To hasten final enactment of the bill.
the Senate named tonight its confer
ence committee which will work with
Il House committee to compose the
differences between the two bills The
members are Senators owen. OGor-
man, Reed, Pomcrcne. Shafroth and
Hollis. Democrats and Nelson. Bristow
and Crawford Republicans.
Members OF the House conference
rolnmttee already determined upon are
Democrats and Representative Hayes,
of California, Republican.
The House viii name its conference
committee tomorrow 1t is believed
but a short time viii be required 10
reach compromise
Points of Difference
Among the chief points of differences
tetween House and Senate are the fol-
lowing;
The House provided for twelve. re-
eight TO twelve" discretion being left
10 the Federal reserve board
The Scnote added Il provision Great
ing a fund TO guarantee the deposits or
failed banks that are members OF tho
reserve associations
The House limited the redlscount OF
commercial paper at the regional banks
TO that maturing III ninety days tho
senate provided that ls0-dav asricul-
tural paper could he accepted under
certain limitations
The gold reserve required OF the re-
gloh9i reserve bHnks against circu!at-
iug notcs, was placed At S3 ! 3 per cent
by the House and AT 40 per cent by the
Banks would be permitted to loan on
NNc-%ear farm mortgages by the SEN
ate bill; on one-year mortgages by the
House bill.
senator In Toilette proposed two
amendments just before the bin caino
10 a vote which caused a mild sensa-
ton. One OF them was written into tho
bill and the other rejected by over
whelminS vote.
States Senator or Representative in
Congress shall be member of a Fed
eral reserve board, a director In II
director or any member bank"
Not lie Allowed to ProGt.
Il do not believe that any United
states Senator or member of Congress
should be allowed to directly or IN
directly profit from this lcgisiation,"
said Senator La Toilette, there have
been in,mations aftoat that organiza-
tions arc contemplated under this