Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1913-10-08
BILL
MAY NOT PASS
This Session
Committee in Senate Is Ovid
ed in Sentiment on the
Money Measure
By c. S. ALBERT.


Especial Star Bulletin Correspondence
WASHINGTON d. c.. Sept. 2S.-De-
spite the expressed confidence ON the
part of the friends of the administra-
ton currency bill that the measure
will become a law at the special seS-
sion of Congress, unless there Is de-
cided change of sentiment among the
members Of the senate banking and
currency committee. the bill will not
become a law at this session.
At the present time the senate COM
mittee now stands seven against the
bill and five for it That is counting
Senator O'Gorman of New York as a
friend of the measure, although the
junior senator from the Empire state
has not made known his attitude up
on the pending measure. Those who
have listened to the line Of his ques-
lions are yet in the dark as to the
position he will take on the pending
measure.
A large majority of the merchants
and business men who have appeared
before the banking and currency COM
mittee up to this time are opposed to
the measure in its present form be-
cause they claim that it gives great
er powers to national banks than are
now ejoyed by them under the pres
ent banking and currency system.
These men argue that the country
banks are not as well provided for in
the administration bill as they are un.
der the Aldrich- yreeland currency
law now on the statute books.
Another Serious Objection
Another serious objection raised
against the pending bill by the oppon-
ents of the measure Is that the plan
for II regional reserve, banks will
throw entirely too much power into
the hands of the federal government,
thereby bringing politics into play in
the selection of such banks and the
men who are to be In charge of their
operation. @4sE.s,.. ...s...
President Wilson is still insisting
that congress must not adjourn until
after it has enacted the currency
measure into law. He is in daily con-
ference with members of the senate
banking and currency committee
using his most persuasive arguments
with them In the hope of being able
to insure a sufficient number Of men,
bers of the committee to make IA
vorable report to the senate. ~
VIII BE Much Changed. s-...,e<.... .
1t can be stated, however, that even
IL banking and currency bill is re-
ported and passed by the senate this
session, it will be entirely different
from the one which received such
generous support in the house. Not
even the most sanguine friends of the
administration bill believe that it can
go through the senate in the shape it
passed the house. There are likely
to be so many amendments added to
the house bill before the senate COM
mfttee gets through with it's consid-
Grafton that an entirely new bill is
liable to result from the committees
deliberations.
President Wilson himself realizes
that the house bill cannot pass the
senate in It's present form, and he is
willing to accept certain notifications
of the measure in order to insure its
enactment this session. He is firm in
the belief that the country needs bet
ter currency laws, laws which will
make our currency more elastic in Or
der to provide against panics, and he
feels that backed up by this senti-
ment, the Congress cannot adjourn
without acting in the matter.