The Washington herald., 1913-12-02
EARLY meetings
CAUSE PROTEST
Republican Senators Object
to Long Hours Proposed
by Democrats.
BURTON OFFERS MEASURE
0hioan Draws Currency Bill Which
Enbedies Features Of Vanderiip
PIan-Central Bank Here.
BURTON OFFERS MEASURE

The Senate was in session for an
hour and thirty minutes last night.
considering tie currency bill. An
agreement was reached yesterday
morning by which the Senate viii meet
at IL o'clock today, and before the
close of the day 1t is thought an agree
ment will be entered into fixing the
daily hour of meeting and to provide
for night sessions.
The time last night was consumed In
reading the currency bill The Senate
met at noon, and most of the session
was devoted 10 the consideration Of the
Hetcb detchy bill, granting a reservoir
site to the city of San Francisco, from
which to draw its water supply. This
bill is the unfinished business for the
week, and a vote on its final passage
will be taken Saturday. Senator Myers,
of Montana, was the principal speaker.
1t is the intention Of the Democratic
leaders in the Senate to keep the cur
rency bill before the Senate whenever
that body is not engaged in the consider
alton of the reservoir site bill.
There was a furry in the Senate over
the Democratic proposal to hold day and
night sessions and to meet at 10 o'clock
each day. Senator Kern, leader Of the
majority, submitted a resolution pro-
viding for 10 o'clock as the hour Of daily
meeting Of the Senate.
objection Ia Made.
Senator Gallinger objected.
Senator Root said: 'T am willing to
come to the Senate early and to make
any arrangement at my personal incon-
venience, II necessary, to expedite legis-
lation; but IL We are to meet here and
talk to empty benches and Senators are
to make speeches addressed to vacant
air. then the effort will be wasted. II
Senators are to remain here and speeches
are to be made addressed to the wisdom,
intelligence, and patriotism Of this body
then our effort will be worth while"
The first formal reading of the bill
gives il a parliamentary status by which
II may be called up and its reading pro-
ceeded with with a view of making amend
ments. But 1t is believed that most OF
the time that will be given to the meas
ure this week will be consumed in set
speeches.
Senator Burton, of Ohio, submitted TO
the Senate an elaborate currency bill pro-
yiding for a central reserve bank The
bill embodies many OF the features recon-
mended by Frank A. Vanderlip, president
of the National City Bank.
The principal features include central
Federal reserve bank located in Washing
ton, with a capital OF Sloo, 100000 and a
charter for fifty years
The bank would be the fiscal agent
and sole depositary of the government
except for deposits of postal savings"
The government OF this central bank
is placed in the hands OF seven directors
to be nominated by the President fol
terms of fourteen years. Neither the
Secretary of the Treasury nor the Comp
trolIer of the Currency shall be eligible
The governor of the bank would have
salary of $1,000 a year, and the deputy
s1l, 900.
The Burton bill provides for an organi-
zation committee of five. to be named by
the President to organize the institution,
with twelve branches in as many dis
tricts-