Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-10-17
CAPITOL DISCOUNTS
REPORTS OF RECESS
Republican Senators DO Not
Care to Come to an
Agreement.

The suggestion that recess OF ad-
journment of Congress might be taken
pending the report of the Senate banking
and currency committee on the currency
bill was discounted at the Capitol today.
Notwithstanding the reports which have
gone out as to the better feeling and
understanding between Senators and be-
tween the President and the senators
regarding the currency measure.
A proposal was made to some OF the
republican senators that date be de-
cided upon for a vote in the Senate
on the currency bill, with the under
standing that then recess be taken
for thirty days. or until the bill be
reported from the committee.
You might just as well put an idea
date upon which to vote on the cur
rency bill out of your mind" was the
comment of Senator BristOw on this
suggestion today. He admitted that
he had been questioned as to the feas-
ability of such an arrangement.
The republican senators take the stand.
it is said, that they do not care to reach
any agreement for date to vote on
the bill when they do not know what the
bill will be.
Committee Hears Prof. jerks.
Prof. Jeremiah W. jerks of the univer-
sity OF the city OF New York was before
the banking and currency committee to-
day. He made many suggestions to the
committee regarding the reserves which
shall be held by the banks and the
regional reserve bank. and also with
reference to the retirement of the new
currency.
He suggested that the banks might be
taxed on a graduated scale when their
reserves were allowed to drop below q
certain figure, which he would make
somewhat higher than the 33 1-3 per cent
provided in the pending bill.
.I believe that the law then would
work automatically In regard to the
maintenance of reserves ana the perlms-
sion to reduce these reserves in times Of
Stress said Prof. jerks. II do not be-
l;eve that the federal reserve board should
he empowered to remove the reserve re-
ouirenents according TO its Judgment.
Prof jerks urged that all the reserves
should be i'm gold alone, and not in gold
or lawful money as the bill provides.
He warned against q possible imitation of
currency which. he said, would undoubt-
edly lead to tie export of millions of dol
lars of gold and an increase In prices ana
the cost of Hvlng-.
Commerce Chamber Reports.
committee of the United States
Chamber of Commerce, including Presi-
dent Harry A. Wheeler of Chicago, Wal
lace D. simmons of st. Louis. chairman
of the currency committee; Edmund d.
Eysher. deputy controller Of the city of
New York, and Joseph French Johnson
of New York. yesterday brought to Wash
ineton the result of referendum vote
taken among the members OF the cham
Der
This report recommended several amend
,nanfsl Including one to cut down the
number of reserve banks from twelve
to three. to be located in the present
central reserve cities New York. Chi
cago and St Louis ana another giving
tha bankers representation on the federal
reserve board The report opposed the
maLinr of the proposed new notes as
government obligations. and urged that
they be made payable in gold only.