New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-11-08
Caucus Threat Leads Rebel
Senators to Shift Sides on
Regional Bank Question.
DEADLOCK IN COMMITTEE
Republican Members Resent the
Proposal of President Will
son to Make His Meas
ure a Party Matter.
From The Tribune Bureau

Washington. Nov THE threat OF
Democratic caucus coming from the
White House yesterday caused what ap-
pears 10 be a deadlock in the Senate
Banking and Currency Committee TO-
dav. with the aid of Senator Crawford
the majority members of the committee
carried a motion to reconsider the Fo'e
by which II fixed the number OF regional
banks at four.
Senator O'Gorman, who has stood for
the central bank plan heretofore, re-
versed his position, not only suppor'lhs
The movement 10 increase the number OF
banks, but taking the initiative in re-
opening the question. Senator Reed, an
other of the trio of Democratic recall
citrants, also voted to reconsider Sen
ator Hitchcock, the third. will prooaoiy
refuse to bear the administration brand
and will maintain his independent posi-
ton to the end OF the currency fight.
The currency situation, despite the de-
cision of the committee to-day, was less
favorable TO legislation tonight than IL
was yesterday The Republican members
of the committee. who were disposed to
have contended in order to obtain cur
rency legislation, showed a disposition TO
resent the proposal of the President TO
make the measure a party matter.
AS the situation now is, the committee
stands six to six on the question of in
creasing the number of regional banks to
eight. and the six who are opposing the
increase have stiffened their attitude per-
ceptibly since the President has made it
known that he desires the bill to be made
a party issue. 1t is still possible that a
majority can be induced to approve the
proposition for eight banks for the sake
OF enacting legislation which is regarded
as particularly desirable in view of the
disturbed business conditions. 1t is much
less probable, however than it would have
been had not the caucus plan been
preached
AS a concession TO the administration
the committee to-day decided TO retain
the Secretary of the Treasury on the
Federal Board. The point of deadlock
was reached when the regional bank
question was reopened. Even this was
done largely as the result OF threat by
Senator owen TO split the committee.
The Senator from oklahoma, who has
been displaying a defiant attitude during
the last two or three days. declared that
it wa apparent that no agreement could
be reached and that Democrats support
ing the administration might as well go
ahead and submit their report without
any further attempt TO adjust differences
LITER this outburst Senator Crawford
changed his vote 10 reopen the question
OF the number Of banks. which was car
RED seven TO five, and the committee
settled down for the remainder of the day
Tor session Of stormy oratory.
The committee voted down a proposal
to force double liability. similar TO that
OF present national bank stockholders, on
The stock of the proposed regional banks
The section Of the present bill which
would force all national banks into the
system under penalty Of losing their char
ters within a year was changed Ma
ional banks, under the amendment
would be required TO signify their inten-
ton of entering the system within sixty
days Banks which are at present re-
serve agents, and which fail to enter he
new system within ninety days, would
forfeit their reserve agencies. The COM
mittee voted down proposal by Sena-
tor Crawford TO allow the regional banks
10 be created to do a general commercial
banking business