New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-11-07
Absent Democrats Summoned
For Caucus to Force Recall
CitrantS Into Line.
THEORY OF BILL ALTERED
Amendments Adopted Not
Pleasing to owen and Other
Democrats, Who Want
Strictly Party Measure.
From The Tribune Bureau

Washington Nov. 6.-As a last resort
the President decided to-day to invoke the
masters rod to force the administration
currency bill through the Senate. the
decision was reached after conferences
with several Democratic Senators at the
White House Immediately afterward
Senator Kern, the majority leader' Sent
out a call 10 all absent Democratic SEN
ators TO return to Washington 10 be on
hand for the caucus which is 10 be helu
next week.
In spite of the decision of the Presi-
dent and the determination Of the Demo
cratic leaders to take the currency bill out
of the hands of the Banking and Cur
rency Committee, which has shown dis
position 10 make material alterations In
81, those who desire speedy enactment OF
currency legislation are still hoping that
the caucus plan will be abandoned.
There is much doubt that the Democrats
of the Senate will unite in a caucus which
will in any way bind Senators 10 vote for
the administration currency bill. 1t is not
improbable also that the decision OF the
President to make the bill partisan
measure will arouse the hostility OF Re-
publicans, who otherwise would be dis
iposed TO throw the weight of their sup
port behind a currency measure when
would meet as far as possible the view
OF the administration and at the same
time prove practicable.
Rapid Progress Made.
The committee made rapid progress to-
bay, clearing UP several of the more per-
picking problems presented by the bill
Even the more conservative members ad-
mitted that il now seemed possible that
the committee would be able 10 make its
report by the end of next week. There
were also limitations that compromise
might be agreed to on the number OF
regional banks. which might be fixed at
eight instead OF four
President Wilson disavoWs that he is in
the role OF dictator, but it is known that
II caucus is ordered he will be solely
responsible for it, and that he will exert
all his power to bring the recalcitrant
trio. Senators OGorman, Hitchcock and
Reed. into line, although he was told to-
day by other Senators that they seem
obdurate.
the currency bill a strictly Democratic
measure, but in resorting TO the caucus
he realizes that there will be many
changes In it, as 1t was reported from
the House. He is willing TO make con-
cessions where the fundamental principles
are not materially altered, and for that
reason believes that the legislation can
he speeded in defiance of the Republican
senators and those Democratic members
Of the Senate who are inclined to balk.
Party Caucus Their Hope.
Senators Vardaman, Tillman, Lee
Thompson. Simmons and Lewis talked
with the President about the currency
legislation to-day. and the belief Of each
was that the salvation of the Glass-Owen
bill rested In q party caucus Not long
after the conference the hurry-up cali to
absent Senators was sent out at the in
stance OF Senator Kern. the Democratic
leader
The committee disposed Of four of the
fundamental questions involved in the bill
to-day. Tt decided that the stock Of the
regional banks shall be open TO public
subscription for a period of sixty days,
taken by the members banks. The ad
ministration bill provides that it shall all
be taken by the banks.
The control of the regional banks. ii
decided, shall be vested in boards of nine
Sirectors. Of which five of the members
shall be appointed by the government and
four by the banks. The administration
bill gives the banks six out OF the nine
directors.
The committee voted 10 have the pro-
posed notes issued by the Treasury. as
provided by the House bill. but decided
that they shall be redeemed in gold in
stead OF lin gold or lawful money"
The disposal of these four questions |
leaves only one important matter to be !
decided, the provision relating to the per |
cent bonds This; 1t is expected will be |
done tomorrow and the committee will |
thereafter be free TO devote itself to the |
technical provisions OF the bill, over which !
there is little or no controversy.
Democrats Divided.
With the exception OF the proposal TO |
indorse the administration provision max |
ing the currency government notes, each |
amendment to-day split the Democratic |
aide of the committee. Senators Reed and |
Hitchcock voted with the FIVE Republi- !
cans TO make the regional banks publicly |
owned and government controlled as
against the administration proposal for |
bank owned and bank-controlled regional |
banks
lawful money" from the redemption