South Bend news-times. (South Bend, Ind.) 1913-1938, 1913-08-25
EXPECT ORIGINAL
CURRENCY BILL
TOPASS IN HOUSE
Leaders Point That All Amend
mentS Proposed by Bankers
at Chicago Were Considered
in Detail.

WASHINGTON, Aug %. - The
answer Of the administration forces
in the house, TO the criticisms of the
new currency bill made by the confer
ence OF bankers at Chicago Saturday,
will be a tightening up OF the lines
and a more vigorous endorsement OF
the bill as II now stands. Informal
conferences Of democratic members
OF the house currency committee sun
day. emphasized the fact that the act
I've supporters OF the presidents cur
rency plan expect to pass the meas
ure through the house without sub
stantial change.
The amendments proposed by the
bankers, IL was pointed out by house
leaders Sunday, all were considered in
detail when the bill originally was
prepared, and in the long debate over
It's provisions in the house committee
on banking and currency.
The proposal 20 reduce the quantity
OF reserves and give country banks
the privilege OF keeping part OF their
reserves in the large cities. had many
supporters and ultimately may be
worked into the bill in the senate; but
the change is not expected in the
house.
Bankers In Senate.
The bankers will have an oppor-
tunity 10 present their views openly TO
int the senate Chairman owen of
the senate currency committee, eX-
poets leading representatives of the
various factions" amongst the bank
ers of the country TO give their views
Of the bill to the senate committee.
81 sec a great deal of merit in the
proposal 10 reduce somewhat the
quantity of the reserves" said Senator
owen. I'VE have not discussed the
new legislation sufficiently in COM
mittee. however. to know what chang
es may be made in the BILL
The fact that leading bankers hold
different views Of the effect OF the
ne wlegislation, particularly with re-
gard to the possible reduction of loans
and curtailment of credit, has led
members of the senate committee to
believe that a further discussion OF
the bill at opening hearings would re-
suit in winning the cooperation and
support of a large portion Of the
banking fraternity Of the country.
In the opinion of democratic lead
ers, the last week has seen great pro-
gress toward united support of Pres
ldent Wilson's legislative policies.
The entrance OF Secy. Bryan as the
whcle-h earte I advocate of the admin
istration currency bill, in his letter
read in the house caucus; the united
front presented by the democratic
leaders OF the mouse against dAlShu-
ments TO the currency measure; and
the complete success of the senate
democrats in supporting the free SUI
gar and other contested points OF the
tariff bill have advanced the two big
reforms a long way toward compile
ton. il is claimed.
Chairman Simmons of the senate fl
nance committee Monday predicted
senate could complete the tariff bill
and pass il by Sept. ., and that the
measure could be finished by the con-
ference committee and signed by
President Wilson by Sept. 16.
spirit of harmony has 1een estao-
lished in the consideration of the bill
n the senate. This has taken out OF
the debate much Of the personal bit
terness usually characteristic of tar
IF fight. The republicans will make
n supreme effort to change the free
wool provision and all wooden tariff
rates late this week. when the La
toilette. Penrose. SmOot and Catron
substitute measures will be submitted
and voted on.