The Hattiesburg news. (Hattiesburg, Miss.) 1908-1917, 1913-10-25
WHETHER THERE WILL BE ONE
WITH BRANCHES OR SEVERAL
FURNISH FINAL FIGHT.
PRESIDENTS POSITION CLEAR
Through Statement of Secretary Tu-
muIty, Wilson Gives Public to Under
stand He Is UnquaIifiedIy For the
Glass-OWen Measure.

washington, OCl. 20 w n0IueT lu0fe
shall be one Federal reserve bank,
with branches throughout the United
States, or several banks, as provided
for in the administration bill, promises
to be the chief issue of the final cur
rency reform fight in the Senate Com
mittee that is to open up Monday.
The hearings of the committee will
conclude tonight, and the committee
members will begin Monday the ardu- |
GUS task of attempting to agree upon a
revision of the Glass bill that will
prove acceptable to President Wilson
and the House.
President Wilson reiterated through
Secretary Tumulty, that the Glass
Owen bill, with it's system of twelve
regional reserve banks related only
through the functions of one Federal
reserve board sitting at Washington,
was admirably suited" to the needs
of the country.
While members of the Senate COM
mittee, including several Democrats,
were drawingtout witnesses in further
support of thS single-bank idea, Presi-
dent Wilson lked at length with 9TH
er Senators, datlining his desire that
the Glass bilfAbe left unchanged in
this particular. -.,..-...
1t was apparent last night that the
course of several members of the COM
mittee probAbly will be determined
finally by the attitude taken by Presi-
dent Wilson and other party leaders
as to the expediency of the single
bank plan, Senators O'Gorman, Hitch
cock and Reed, Democrats, all favor
the idea OF a single Federal reserve
bank, as opposed to many separate
ones, but it is believed that their ad-
vocacy of the plan may be abandoned
in committee, if the Democratic lead
ers insist that such a measure could
not be passed through the House.
Senator Reed visited the White
House with Secretary McAdoo, anc
urged the president to withhold judg
ment on the single-bank idea until it'
details had been worked out more full!
by the Senate Committee. Later Sen
ator Kern, Democratic leader, anc
Senator Stone conferred with the Pres
ident for some time.
The President made it clear to tn
Senate leaders that he did not believ
the Senate committee should attemp
to disturb the foundation of the b1
that passed the House to the exten
that Il would have to be remodeled t
provide for single bank. Senate
stone. on leaving the White House, e.
pressed his personal opposition to tn
single-bank idea.
Secretary Tumulty expressed Tn
White House views in this statement
"When inquiries were made at III
White House as to what the President
attitude was towards the propose
made bv Mr.. Vanderlip, of the Natlon
CITY Bank, to the currency commute
of the Senate it was stated with the
pected emphasis that of course u
president would not recede in any 7
spect from the position he had alrea'
so clearly taken and which the who
country understands.
"He has warmly and unquailneo
endorsed all the main features OF
Class-Owen bill. He regards the pl
~royided for IN tat bill as excelfen'
suited to the existing conditions OF
business of the country and In eve
essential particular sound and calcul
ed to render the business men OF I
country "a great and immediate serVi
and he believes that the early ena
ment Of the bill into law is expec'
and demanded by the most thoue
full business, interests. The eviden
which have reached him of the supp
Of the country are unmistakaoie
overwhelming"