The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-09-14
GENERAL DEBATE IN
LOWER HOUSE ENDS
Currency Bill VIII Be Taken
Up in Detail for Amend
ment Monday.
CAUCUS is CONDEMNED
Democrats Join With the Mi
nority in Denouncing
Framing of Measure.
CAUCUS is CONDEMNED

WASHINGTON, Sept. 13.-The house
tonight wound up four days of general
debate on the administration currency
bill. Republicans and Progrsssives
criticised the measure on various points
and Democrats lauded it as the means
of evolving a safe financial system.
Altogether some three score members
talked on the bill, The Republicans
condemned the secret committee meet
ings and the secret Democratic caucus
which handled the measure. Progress
ives also found this an inspiring theme.
The scheme of making the banks of the
country subscribe capital and deposits
for the conduct Of the proposed fed
eral reserve banks was condemned and
it was charged that the board would
become political asset.
Several Democrats Joined with the
minority in their attacks on the meth.
ods under which the bill was framed
but all announced that they would vote
for the bill.
The measure will be taken up in de-
tail for amendment Monday and it is
expected the detailed discussion Will be
extensive. But under the caucus action
of the Democrats the possibility o.
any change being written into the meas
ure in the house is remote. Chairman
Glass OF the banking and currency
committee, who opened the debate,
made the closing speech tonight.
Uses Wooden Tombstone.
A wooden tombstone, seven feet tall
and four feet square, was raised on
the floor of the house today to illus
trate an argument by Representative
Smith of Minnesota, that the admins
tration currency bill would put the in
l,hA q Il ,rr10 0Tpa
Of the United States under control Of
four men appointed by the party IN
power. On the base of the monument
were painted seven circles, represent
ing the seven members OF the federal
reserve board proposd by the bill, Of
these, four, according to Mr.. Smith,
the secretary OF agriculture, secretary
of the treasury and the comptroller OF
the currency, with fourth member Sc
lected by them would control the board
They would change, he said, with each
administration and make the board a
partisan political institution.
On the shaft of the monument were
painted sixty-nine different functions
described by Mr.. Smith as the powers
of the federal reserve board.
While indorsing the principles of the
large powers IN the hands of the board.
Prize of Election.
"What ] contend for is the substi-
tuition of nou-partisan. non-political con-
troll for control by banks" said he.
1.-THE great political power which Pres
ident Jackson saw in the first and Sec
ond national banks of his day, were
mere pygmies when compared to the
gigantic power imposed on federal re-
serve board and which, by the proposed
BILL is made the prize Of each national
election.
"1f method or means can be
evolved by which the government can
maintain control and regulation of the
banking and currency system and at
the same time prevent it from becom-
ing a tool and instrument of political
pressure and party eNpediency, it would
be a decided improvement over the
measure now before the house.
a general attack on the method of
putting the bill through the house was
made by Representative Galloway of
Texas, Democrat, who protested vigor-
ously against "following Wilson and
BRYAN blindly.'