El Paso herald. (El Paso, Tex.) 1901-1931, 1913-10-20
WILSON HAS HOPE
FOR MONEY BILL
President Expects Report in
NEUTRALITY-SUSPICIOUS.
Not Optimistic.

Washington, D. c., Oct 2O.-Presi-
dent Wilson wrote representative
Underwood, the majority leader Of
the house today, expressing the opinion
that the currency bill would be reported
to the senate not later than the tlrst
week in November and passed after
two or three weeks debate.
Il have had conferences with mem
bsrs of the senate committee on bank
ing and currency, both Democrats and
Republicans" wrote the president. As
a result of those conferences, I feel
confident that a report on the Dill may
be expected not latter than the first
week in November. Most of the mem
bers of the committee with whom L
have conferred have shown themselves
keenly aware of the disadvantage to
the country of any unnecessary delay
Confident Bill viii Pass.
Ct believe that the action of the SEN
ate on the bill Will follow within two
or at the most three weeks after the
report is made I do not believe there
will be any attempt to delay its pass
age by dilatory tactics. Senators on
both sides realize that the business of
the country awaits this legislation, i'm
patient of being kept in suspense, and
display a most public spirited desire to
dispose of it promptly. The passage of
the bill is assured.
In these circumstances, I should like
to confer with you as you so kindly
suggested as to the action the house
suits.
Senators Not Optimistic.
Senators BristOw and Hitchcock were
not optimistic of the bills passage at
the present session Senator O'GOr-
man thought it might be possible but
that 1t could not be determined Ito a
certainty" Senator POmerene agreed
with the president.
One development which lent encour-
agement TO those who hope for speedy
action came when the president let it
be made known that he was not finally
committed TO any particular number of
reserve banks. so long as there were
enough to meet business requirements
and that the federal reserve board did
not necessarily have OF include the
secretary OF agriculture and the con-
TOler of the currency so long as it was
government controlled. Active oppOSi-
ton has been directed at those features
Republican leader Mann promised to
let Mr. Underwood know his position
on recess tomorrow. meanwhile Mr.
Underwood is sounding sentiment in
the senate.
Victor Morawetz of the National
Bank of Commerce of New York, en-
dorsed the general provisions of the
bill before the banking committee, but
suggested reducing the regional banks
to five or six.
Wilson To Meet Republicans
Conferences between president VIII
son and Republican members of the
senate banking and currency committee
with view toward making the pend
ing currency bill nOn-partisan
measure viii be held this week.
The president has been assured that
not only is a report from the committee
possible Nov 4. but that the legisla-
ton can be enacted before the Deem
Der session provided the Republicans
and Democrats come to a common
agreement on the bill.
From the first, It is said, the presi-
dent has not been DESTROYS of making
the bill a party measure, though he
feels that the Democratic party will be
held responsible for whatever law is
framed The idea that Mr.. Wilson was
uncomprOmisingly committed to the
house bill led largely to that impress
sion, but within the last few days he
has made it known that if the senate
viii keep the main essentials which the
administration desires, changes in
harmony with the fundamentals will be
acceptable.
The president is greatly encouraged
over the possibility of getting
unanimous report from the committee.
Senate in Executive Session
In the senate senator Bacon forced
an executive session when senator Bur
ton moved to investigate the appoint
ment of postmaster at Salem, Ohio.
Republicans have charged political
deal
day.
In the house. Republican leader Mann
refused to consent TO the absence OF
members on official business. The
house adjourned to noon Tuesday.