Evening star., 1913-11-18
Democrats Unable to Agree
as to Wisdom of a
Weeks Recess.
$226, 900 MILEAGE BILL
BOTH HELPS AND HURTS
Many Fear Criticism if This Is
Drawn Because of One In
tervening Week.

Inc democratic steering committee OF
the Senate today discussed for an hour
the advisability Of holding a demo-
cratic caucus on the currency bill and
also upon the adyisability of an ad-
Journment of Congress next Saturday
or Tuesday until the opening of the
regular session. December I. No de-
cision in either matter was reached
and the committee adjourned to meet
again Thursday morning at 10 o'clock.
Chairman Owen of the banking and
currency committee, also a member Of
the steering committee, failed to put
IN an appearance at the meeting today.
The committee thought 1t not advisa-
bic to take any action regarding a eau
Gus on the currency bill until Senator
Owen had given his views of the situa
tion. So an adjournment was taken.
No Word From President.
Following the meeting, Senator Kern
democratic leader OF the Senate. and
chairman Of the steering committee.
said that he had heard nothing from
the President regarding a possible ad-
journment of Congress.
The matter is all up in the air." said
Senator Kern. mo three senators seem
to think alike. Some of them are for
adjournment under various conditions
and others are opposed to it under any
conditions
While many Of the Senate favor an
adjournment. to enable the members OF
Congress to go home and take a short
rest before the regular session. which
promises to extend we'll into next sum-
mer. many others believe that the coun-
try would feel that the adjournment was
the members Of Congress mileage.
Mileage Bill Is $4,000.
This mileage would amount to
$226.000. some of the members living
In the far west receiving as much as
$1,000 each. This they feel would dis
credit a democratic Congress which
has declared for economy
The republican members Of the bank
ing and currency committee and Sena-
tor Hitchcock. democrat. continued
their work on report on the cur
rency measure today. Both wings Of
the committee expect to be ready to
report to the Senate Thursday
The republicans voted down today a
proposition to prohibit interlocking di-
rectorates of national banks They adopt
ed, however. a provision which would
prevent directors of national banks from
receiving any gratuity for services
Reserves Are Considered.
Both wings Of the Senate committee
continued work on their bills yesterday
afternoon. The six administration demo-
Gratis reopened their deliberations to con-
slider the advisability of altering the pro-
vision In the Glass-Owen bill for shifting
the reserves Of the country from the pres
ent depositaries to the new regional re-
serve banks. It has been suggested that
the provision might make too great a
demand on the banking resources of the
country and result In the calling of
loans and consequent strinRency. The
democrats reached no definite agreement,
but Chairman Owen agreed to tabulate
the figures available on the subject and
present them to the committee today
Senator Hitchcock and the republicans
continued to write their draft Of the bill
They increased the gold reserve to be
held against the new currency to IS per
cent, and provided that when the reserve
fell below that point 1t should be taxed
on graduated scaledown to the mini
mum of 30 per cent
Completely Changed.
The bond refunding section was COM
pletely changed. AS amended it would
provide that each regional bank should
each year invest 50 per cent of it's avail
able capital in the per cent bonds at
par. which are the basis of the present
bank notes The regional banks would
then be allowed to exchange the per
cent bonds for 3 per cent one-year gov
ernment bonds. agreeing to renew the
notes for twenty years. These notes
would be available for use in foreign
markets to secure gold to maintain the
reserve.
The republicans also made numerous
amendments, correcting what they re-
garded as discrepancies in the bill and
making the later sections conform to
amendments already adonted