The Birmingham age-herald., 1913-08-18
Members Settling Down TO
Complete Tariff Revision.
Currency Bill Next
DEMOCRATS BEHIND
CURRENCY MEASURE
Clark, in Statement, Asserts Bill Will
BE Sent to Senate Early in Sep
tember-Currency Reform Was
Promised at Baltimore

Washington. August 17.--Congress hav-
ing yielded 20 the wish OK President Vii
son and sent home for its fall clothes. its
members are becoming reeonciled to blast
ed vacation hopes and are settling down
to complete tariff revision with deilbera-
tion and take ~. currency reform without
undue haste
When the special session will no ready
TO adjourn has ceased to be a subject Of
special speculation. No one pretends TO
hazard any more guesses and leaders in
both houses declare that currency legis-
lation is to be completed, even if fl Is
necessary to run right up to the regular
session in December
Senator Gallinger speaking in the tariff
debate Saturday of the necessity for re-
publeans to debate certain proposed rates
at length, was askd if he had sent
home for his winter clothes. lie answered
with affirmative nod about 1l.5e
p, m. on November So Speaker Clark is
writing friends who ask him about adj
journment
Democrats Behind Currency Bill
With the administration currency bill
still in the democratic caucus of the
House, Speaker Clark issued a state
ment tonight in which he asserted that
the bin would be sent to the Senate early
in September with solid democratic sup
port. Representative Henry, chairman of
the House rules committee, also issued a
statement relating TO the hesitancy of
some democrats to accept the bill as now
written
Indications that the Senate democrats
propose to make a bill of their own are
increasing and efforts TO commit them to
any currency bin or definite policy failed
at the caucus last Thursday night
Speaker Clark in his statement on the
situation asserted that the democrats in
the Baltimore convention had promised
| tariff revision and currency reform Tho
promise to revise the tariff downward he
| said, now was practically an aceomp-
lished fact. while the redemption of tho
currency promise is just beginning.
THAT is to say the speaker continued,
THE currency bill has not yet ben pre-
sented to the House. Having passed the
first stage, that Is action by the demo-
cratic membership Of the House commits
tee on banking and currency, whatever
OF differences exist annsng democrats are
being threshed out in the caucus, the
proper place to thresh them out. After
caucus action we will, as we have done
on important questions for three years.
f | DltStnl Il SOllu libul anu Stiiu AHt Jill
to the Senate early in September. Abund-
ant opportunity for debate and amend
ment will be afforded. Nobody has any
disposition to railroad 1t through. either
the caucus or the House.
Bow to Wilson's Desire
|. Originally democrats were divided
in opinion as TO whether the currency
question should be disposed Of a. this
session should be postponed until
the regular session. but President Will
son in the exercise of his vonstitu-
tional function. delivered his currency
message urging action, since Bhieh
event the public expects currency legis-
lation at this session and business men
of all sorts and sizes, farmers, miners.
merchants. manufacturers, bankers.
etc. desire that bill shall be passed,
thereby ending the uncertainty of the
situation.
"A person does not have to rate the
Glass-Owen bill as perfect TO believe
that It is a great Improvement on the
present patchwork system.
| What viii be counted as amoug tho
good features OF the bill by such sroat
agricultural constituency as repre-
sent is the fact that II makes provision
in the savings departments for loans on
improved farming lands. brand-new
thing for national banks Another il
the fact that it Will tend to keep the
peoples money In the places where II
is owned and not concentrate so maeh
of 1t in one place. Still anothcr fca-
ture which rural folks Will endorse is
that il prohibits the loaning or the
bank deposits for. purposes 81 specu-
lation in stocks and bonas But the
best feature Of II Is tlle governmental
control OF the national banking sys-
tenn. II is objected that 1t cOafers too
much power on the federal reserve
board, but power must be lodged some-
whore in somebody and It is better 20
lodge il In government board than in
private hands
"A Presidents fame VIII depend
largely ON the justice. wisdom and pa
triotism with which the federal reserve
j board uses its great powers and dis
charges its important duties Conse-
quently as any President desires the
good of the people and the whole peo-
pie and is jealous Of his own fame.
he Will appoint only men of ability.
character and patriotism on the federal
reserve board aud then keep close
watch on them to the end that ali the
lpeople may be treated impartally and
that our prosperity may Increase.
1T Is a thing incredible that any
President ever will be so base or re-
gard his own good name so lightly
as to abuse the stupendous trust COM
mitted to his keeping by the Glass
owen currency bill"
Henry Comments
Representative Henry said that slow
progress on the currency measure was