The Hattiesburg news. (Hattiesburg, Miss.) 1908-1917, 1913-11-29
RUSHING WORK ON
THE CURRENCY
| MEASURE
DEMOCRATS or SENATE HOPE TO
GET THROUGH IN CONFER
| eNcE BY TONIGHT.
MANY SECTIONS PASSED UPON
One Of Principal Points To BE De-
eided is Whether Agreement Will
Be Binding and There Is Some op-
l position to Plan.
MANY SECTIONS PASSED UPON
(By Associated Press.)


Washington, Nov. 29.-In an en-
deavor to complete work on the cur
rency measure before night the Demo
cratic Senate conference hurried
through sections of the BILL One OF
the principal points to be decided, is
| whether there will be binding agree
ment for all Democrats to support the
Owen bill which has the endorsement
of President Wilson. Many Senators
do not favor this as they want to vote
individually on several amendments.
Secretary McAdoo issued a state
ment last night declaring that banks
throughout the country reported to be
restricting credits in order to meet the
provisions of the currency laws are
making a mistake. He announced that
the resources of the treasury will be
at the disposal of the banks to aid them
in complying with the law when
it is put on the statute books.
The statement in part said.
"The secretary said that he did not.
Of course, assume to advise the banks
= he only wanted them and the busi-
ness public to know that there is no
ground for apprehension and that the
+ attitude of the Treasury Department
is to be helpful and that he thought it
could be effectively helpful. He said
that if any banks are laboring under
the impression that the new law will
necessitate or occasion a restriction
I'd of credits they are controlled by error.
h, as no such thing will result.
"The secretary stated that up to
IS date the banks had called upon the
ch treasury for only s34.661 900 for crop
ed moving purposes, that the deposits
of were, under the arrangements, to be
to returned in four installments begin
ming December Is and ending March
ap- l.
Sc "The secretary said that he would
lst consider favorably and upon its merits
sse the application of any national bank
he holding crop moving deposits for q
er- postponement of 30 days of the time
.ial for beginning payments so that pay
by ments may commence on the 18th O
the January, 1914 instead of on the 15tl
in of December next as now provided.
rch The Democratic caucus defeated
ich proposal to broaden the redemption
Mr. features of the new currency bill S
lppi that the proposed treasury notes woul
ish- be redeemable at the United State
'ded treasury in lawful money The cor
mittee had recommended that the fin
sep redemption be limited strictly to go
n Of and after lengthy debate that POI
the ton was upheld by the conferene
Mr.. The bill as now agreed to permits
n as note to be redeemable either in gold
S for lawful money" at the regional banl
ated but In gold only at the treasury.
iings A change was agreed to in the fo
de- the Owen bill, which would make
col new treasury notes acceptable for
oung payment of customs duties. This v
opposed by the committees that dr'
ed the bill on the ground that the {
toms receipts furnished one cert
QUIT method Of getting gold In time of n
for the use OF the treasury.
ck ex' Rapid progress was made on the
which last night and Democratic Sena
anent' confidently predicted the confert
ade 1t would he able to complete its wor,
axe night.