Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-12-20
Congress Hopes to Have
Measure Ready for Presi-
dent by tuesday.
HOUSE Rejects DRAFT
AS PASSED BY SENATE
Attempt to Save Guarantee of De-
posits and Other Features Lost
by Decisive Vote.

After a heated debate the House today
declined to agree 10 the Senate amend
ments to the administration currency
DILL, and the measure was referred to a
conference committee of the two houses
\ group of middle western democrats in
the House fought to preserve the Senate
provisions for guarantee of bank de-
posits. rediscount of six-month agri-
cultural paper and five-year farm
mortgage loans by national banks, but
motion to concur in the Senate amend
ments was defeated on a roll call, 24
TO %.
Differences Between Houses.
The principal points of difference which
will have to be agreed upon or compro-
missed are the number of the regional re-
serve banks, a guarantee of deposits, the
length of maturity of paper for rediscount
at regional banks. the percentage of gold
reserve to be required against the circu-
latinS notes and the time limit of mort
cages on which national banks would be
permitted to make farm loans.
Senators Owen, Reed O'Gorman. Pom
creme. Shafroth and Hollis. democrats
and Senators Nelson. Bristow and
Crawford. republicans. will represent
The Senate in the conferences. Chair
man Glass of the House banking COM
mittee. who was sponsor for the bill
In the House, will head the House con-
ferees. who VIII include Representa-
tfves korbly and Hayes. An effort will
be made to agree upon a report which
both houses of Congress can accept so
that the bill may be finally engrossed
and taken to the White House to be-
come law with President Wilson's
signature by Tuesday.
Leader Underwood Hopeful.
Democratic Leader Underwood in the
House sees no serious points of differ
ence in the two bills; the guarantee of
deposits, which was inserted by the
Senate, is practically the only change
made in fundamentals. All the changes
made by the Senate are understood to be
agreeable to President Wilson.
As one administration official put it to-
day, The plan is to have the President
sign this bill before Wednesday, SO that
II may become a Christmas present for
the American people"
When the bill becomes law President
Wilson will be confronted with taking
the first step to put it into effect. That
VIII be the appointment of federal re-
serve board of seven members, who will
make all the arrangements for the trans-
tion from the present currency system to
the new one. Many suggestions have
been made as to the personnel of the
board. The President has not made his
elections. but will consider the question
carefully during his Christmas vacation.
Delayed in the House.
On its way to conference the bill struck
a snag in the House. where a fight over
the number Of conferees and the question
Of separate vote on some of the Sem
ate amendments caused delay. Repre-
sentative Glass asked unanimous consent
10 disagree to the Senate amendments
and send the bin to conference Repre-
sentatives Hardwick of Georgia and Mad
den Of Illinois contended the House
should have as many conferees as the
Senate, and said that they desired an op-
portunity to vote on some of the amend
ments.
Majority Leader Underwood secured
unanimous consent to take up the bill
But Representative Murray of Oklahoma
moved to concur in the Senate amend
ments, and the reading the fifty pages
of changes made by the Senate was or
dered. causing a long delay in getting
the bill before the conference committed
The fight in the House developed a
movement TO insure retaining the Sem
ate amendment for guarantee of bank
deposits.