The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-11-21
lei NOW SET
n DEBATE ON
BILL
ment Reached to Report
I Separate Measures to
I Senate, All Based on
Same Theory.
IS DIFFER IN
NANY PARTICULARS
rasic Steering Commit
y Meet Today to Make
ngements for Discus
ion on the Floor.
S DIFFER IN
Many PARTICULARS

IlNUlOA',
ms wero made today for the
IN the administration currency
m on the floor Of the senate,
M begin Saturday. Three sep
|Eneney bills, all based ON the
neal theory, viii be placed be.
y Ruate by the divided bank
\ currency committee.
> TO agree on amendments, the
N win present tho Glass Owen
dginsny indorsed by the ad-
xIn and passed by the house.
xue with amendments assumed
.1>pssble to the president, will
lied by Chairman Owen and
y Democrats Of the committee,
y Ponerene, Hollis, Reed, OGor-
a ehafroth. A bill materially
4 The structure of the house
! vii be presented by the Re
q Senator's Nelson, Weeks,
Mclean and Crawford, and
h Hitchcock
! b One Respect.
|lrs Of the proposed bills con
y the issue Of a currency Sc
the primo commercial paper
Do banks Of the country. Each
The establishment of reserve
mich will issue the currency in
Tor commercial paper to the
Is6 the reserves behind their
rubilized for use in any emer-
cd rediscount the paper held
'tiks in the system, thus keep
ihhle always credit and cur
ward off financial crises. The
pose to put the entire system
control Of q federal reserve
ts appointed by the president.
% agreeing to the purposes
E'nplished by the proposed
the three plans differ in
'tg point In attempting to
these purposes.
Banks.
lpsed the house the Glass
proposed the creation Of
Snnal banks. The Democrats
$oate committee cut them to
minimum number the presi.
willing TO accept, The Re-
iduced the number to four,
nst tho smaller number could
nhvely concentrate the re.
ine country.
use regional banks proposed
se Dill would be owned by
'arongh compulsory subscrip.
Noek, and the banks would
" me nine directors of each
'..,llutlou. This plan was re-
'ne Democrats OF the senate
nthoougb it WAS further pro.
Inc banks did not furnish
sr'ai 70 run The system, the
E'' 90 cold to the public.
fan Changes.
ESolnt Senator Hitchcock and
fon' 'sns an departed from the ad,
Ineory Of creating a "bank K
and materially changed the
an;,lp, provided that the reserve
4 ,1i ,h should be subscribed by
Dhre yGe banks taking whatever
IN would not take, and the
IA .,tnfongh the federal re,
.ttn,. snouid appoint five of the
10 no OF each regional bank
n eo ce, proposition which split
M ihy;m1,mittec h;1,mn into two camps
issssvna's n's materially reduced the
s aas; which national banks
Sinst deposits. The house
s,ur, ihc reserve at l2 Del
d in banks and Is per cent
present reserve citios
ica Ssre ,o retained by the ad
ht rl'es In the senate com
f,ysrrh re Republican wing Gu,
I'd ai'''es Of the city banks t.
~ Provision,
q, fsediscount and as = sd, has;'
a. Commercial paper basoG
d S1nsftnl1andising Snt transactions
7jlioau0 not ,l less than ninety DAYS
ID Il" was retained by th,
6licaas ISenste committee, but
Aer m Ttb.;o or9adened 1t mater
suks ''air ai bill part of tn,
nat iturins iGse0unts pn may be made
plon o;s up TO six months
- anal, sllycs the advantage /,
allsd nh,.e.a capital which hav,