The Washington times., 1913-08-11
HOUSE DEMOCRATS
CAUCUS ON CURRENCY
First Skirmish Indicates That
Talhest on Bill viii Con-
tinue for Week.

The Democrats of the House met in
caucus at o'clock today on the Ad-
ministration currency bill and the
first skirmish between the conserva-
tive and insurgent factions in the
party confab indicated that the talk
| rest Will continue at least for a week
| The morning was spent by the fac
tional leaders in counting noses and
I mastering support for and against
the Glass-Owen measure The insur-
gent crowd went into the caucus pre-
pared to wage a persistent campaign
for amendments to the bill
demand from the insurgent coterie
| that the doors shall be thrown open
TO the press is the first problem to
be settled Those in favor of the
Henry Ragsdale amendments for an
agricultural credit currency want
an open door policy will bring votes.
The reprint Of the bill as ii comes
from the Banking and Currency Com
| mlttee was not received until today, and
this is causing complaint as the caucus
convened. Many members think they
should have had more time to study the
perfected bill, and Mr.. Ragsdale, of
South Carolina, member Of the Currency
Committee, has plan to have the eau
Gus mark time or recess until the bill
can be more thoroughly examined by the
| rank and file. 1t is probable, however,
that the caucus will proceed and will be
| in session the rest of the week
The so-called insurgent faction, led by
congressman Henry. Ragsdale, Eagle.
and Neeley. has a definite program
| TO amend the Administration bill. Mr..
Henry, chairman of the Rules Com
mittee, Is not d member of the Banking
and Currency Committee, but he has
taken an active part in advising those
of his colleagues who believe the Glass
Owen bill should be changed. Chair
man Glass; Of the Currency Committee.
sional help from Mr.. Underwood and
possibly other House leaders.
The insurgent members of the House
committee will make special effort to
restore to the bill the amendment pro-
hibiting interlocking directorates among
national banks. This amendment was
voted into the bill in committee, only to
be voted out again at the reputed sug-
gestion Of the President. An attempt
will also be made to force the caucus
TO approve Of the Ragsdale- Henry
amendment providing for an "agricul-
tural credit" currency. These amend
ments were defeated in committee and
the fight will be carried into the caucus
and probably into the House.
Pujo Report a Factor.
Another bone Of contention is the Pujo
Money trust report Mr.. Neeley, of Kan
sas, is insistent that the currency bill
should take into consideration the Pujo
Money trust probe and TO investigate
Immediately Secretary AcAdoo's charges
that a bank conspiracy" has forced
down the price of the per cent bonds
Congressman Eagle of Texas. who re-
Gently announced sixteen reasons why
the Administration bill was unaccept-
able TO him, is expected TO insurge along
general lines and will add zest to the
caucus proceedings.
In order TO embarrass members from
rural communities who may be on the
fence regarding the agricultural credit
amendments, roll calls VIII be demanded
by the insurgents.
IF the banks are to be permitted to
issue currency against their rotten as
SETS argues Mr.. Henry, why should
the farmer be denied the privilege of
converting into ready money his cotton.
corn, and wheat covered by bonded
warehouse receiptS?"
The Glass faction in the Currency
Committee calls this corn tasser' cur
renCy and the conservatives are being
corralled to vote down any change In
the fundamental principles of the bill
as approved by the Administration.
Underwood to Make Peace.
Although he was originally opposed to
currency legislation at the extra ses-
sion. Mr.. Underwood will assume the roll
of peacemaker at the party cOnfab this
week. In Difference TO the wishes of
the President. he has consented to put
his shoulder to the wheel and will aid
Chairman Glass in holding the Demo-
Gratis in line for the committee bill. The
majority leader has been advised by
his lieutenants that a poll of the House
Democrats shows that the currency sill
is safe, but no chances are being taken
and the regulars have been requested
to be out in force. The insurgents are
working quietly and express confidence
that the bill will be amended before
the week is out.
After the currency measure emerges
from the caucus Mr.. Underwood thinks
it can be put through the House within |
ten days. No decision has yet been
reached by the House leaders on the |
proposal not to make the caucus bind !
ing \ binding party caucus, 1t is ar |
rucd. might ALLEVIATE Republican sup !
port and the chances are that il the |
Democratic majority for the bill is a |
large one no resolution to bind those at |
tending the caucus will be adopted