The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1913-07-30
CURRENCY BILL DEADLOCK.
CONTINUAL DISCUSSION RE-
SUITS IN CHAOS.
After q stormy Days Session Cur
rency Committee Conference Broke
up without Prospect OF Agree
nsent-Presidcnt Wilson Arranged
for Conference with Leader OF In.
surgcuts.

istration currency bill today became
the centre OF chaos In the conference
o, Democratic members of the house
banking and currency COMMITTEES.
After n stormy days session, the con-
ference broke up tonight with an in
terminsbie vista OF opposition and dis
cnssion opened. and the prospects of
an agreement on the bill apparently
reduced to vague and shadowy hope
Even Chairman Glass. champion Of
the bill on the house side. was about
ready TO abandon the idea of getting
his colleagues together. President Will
SON regarded the situation as SO Sc
rious that he arranged for a confer
ence at the White House tonight with
Representative Henry OF Texas. chair
man OF the house rules committee,
who has been advising with the 'in.
surgent' committeeman. The inter-
Wow lasted until well into the night.
The conference today was turbulent
from the outset.
After reopening discussion OF the
fundamental feature OF the bill, the
government control through the
broad powers OF the proposed federal
reserve board. Representative Bulke-
ley OF Ohio held the floor for an hour
I'm q discussion OF President wilson's
attitude toward the bill.
II became apparent that the pro-
posai to keep this board strict gov
srnment institution. urged by Presl-
dent Wilson as one OF the essentials,
was point of wide disagreement.
Representative Ragsdaie of South
Carolina presented a set of amend
rncnts practically rewriting the essen
tiais OF the bill These amendments,
framed by Representative Henry and
Representative RagsdaIe. represent
the sentiment of the socsiled elm
surgcnt" Democrats on the currency
question and provide for currency is
sued on warehouse receipts for cot
ton. corn and wheat.
Representatives Henry and Rags
dale announced their intention OF
nghtins for the amendments. not only
I'm the conference OF the COMMITTEES
Democrats. but also In the full COM
mittse. the Democratic caucus and
possibly on the floor of the house.
Chairman Glass said tonight that
at the close OF the days session he
suggested the impossibility OF tho
Democrats agreeing and proposed
that they take the uncompieted bill
to the fun committee and try to reach
an agreement with the minority mem
bers. or that they take II to the Demo-
cratic caucus. The majority. how
ever. believed they should make a
further attempt to thresh out their
differences in conference.
President Wilson's recently publish
ed political work. "The New Free
dom." furnished the text OF Repre-
sentative Bulkeiey's discussion. Mr..
Buikeiey quoted from the presidents
work passages which. he said, showed
that when the book was written
President Wilson was opposed to the
idea of placing vast governmental
responsibilities I'm the hands OF re-
stricted bodies which might I'm any
way be controlled or influenced by
nnancial OF Industrial interests.
On this basis the Ohio representa-
tive argued strenuously against the
broad powers conferred on the fed
eral reserve board by the Glass bill.
Representative Korbly of Indiana,
replied at length to Mr.. Bulkeiey
and Chairman Glass took a hand In
the discussion. which became rather
bitter. This controversy continued
for a greater part of the meeting, and
not vote was taken on an amend
mont or a step made In the direction
Of agreeing to any OF the features OF
the bill.
IL In expected the debate on this
and other phases OF the bill will be ex-
tended and that some time will have
To be spent In the consideration OF
tho socalled "insurgent" amendments.
These propose sweeping changes in
the measure.
In a statement accompanying the
amendments. Representative Henry
tonight criticised the Glass bill as
written wholly In the interest of the
creditor classes. the banking fra
ternity and the financial world. with
out proper provision for the debtor
classes and those who toll and pro-
duce and sustain the country"
III large business and the bank
ers." said the statement. "are deter
mined To- again force the government