The Sentinel=record., 1913-11-07
to make the bill a party measure.
 New Plan Suggested.

to make the Dill party measure.
 New Plan Suggested.
 Washington, Nov. 6-Amendments characterized by Chairman Owens as altering the entire theory of the bill" were written into the currency measure today by coalition of e. publican and democratic members of the senate banking committee. The administration supporters in the committee were decisively outvoted on all but one of the points settled today and later the talk of caucus of democrats to discipline the com mittee was revived. Notices were sent out summoning absent demo- crats back to the senate chamber but no definite call for a caucus was ;s- sued
 The committee today voted into the bill the following affirmative pro visions
 That the regional banks to admin ister the new currency scheme ty capitalized by public subscription. the stock not taken by the public to be taken up by the member banks of the system.
 That each regional bank be con trolled by nine directors, five to be named by the government through the federal reserve board and four to be chosen by the member banks
 That the new currency to be is sued by treasury notes, obligations of the United States loaned to the banks and not bank notes guaranteed by the government. This sustains the administration bill as it passed the house.
 That the new notes be redeemable in gold" by the regional bank and the treasury and not in "gold and lawful money" as provided by the administration bll
 With the exception of the proposal to endorse the administration provis' ion making the currency government notes, each amendment to split the democratic side of the committee. Senators Reed and Hitchcock vo.ed with the five republicans to make the regional banks publicly owned and government controlled as against the administration proposal for bank owned and bank controlled regional banks On the proposal to eliminate the words lawful money" from the redemption clause of the bill, Sena- tor O'Gorman joined Senators Reed and Hitchcock, with the republicans leaving only Senators Owen, Hollis, Pomerene and Shafroth behind the administration provision.
 All the democrats and Senator Crawford from the republican side, voted to sustain the administration for treasury notes.
 When the committee adjourned to- night there was pending a proposal advanced by Senator Crawford to al- low the regional banks to do a gen. eral commercial banking business. The amendments adopted today, with Senator Crawfords amendment, Chairman Owen declared, would "al- ter the entire theory of the bill"
 We started out" he said, "to write bin which would provide q bank of banks, with the power of re- discount, and of issue, and which would mobilize the banking reserves. Now we have shifted about to pub lie owned, government controlled bank, and it is proposed to let it do a general banking business in competi- ton wit hthe 25,O00 banks throughout the country" sUf
 Senator Owens said that so far as he knew, no call had been issue for a democratic caucus on the curren- cy bill.
 If caucus is called" he said, T suppose it will be simply to find out what the committee is doing and why affirmative action has not been taken on the bill. It will be an advisory conference"