New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-10-02

regarding a recodifcation OF the banking
laws and a possible guarantee OF pahh
deposits was also authorized.
Representative Wingo. of Arkansas one
OF the original insurgents against the
currency bill, was off the reservation
again to-day and alone voted against the
proposal 10 name a subcommittee 10
study rural credits.
This committee ought to decide frst
upon the fundamentals OF the legislation
and then name its subcommittee to act
under Instructions said Mr.. Wlngo'
THE subcommittee should be told 10
find out what kind Of legislation the
farmers want"
Are you only going to hear the farh-
ers?" asked Mr.. Buckley. "Other inter
ests might have suggestions about ru'ai
credits legislation"
You fellows from the cities don I ap-
preciate the needs OF the farmer sa'u
Mr. Wingo. Down in my country anu
all through the Southwest they have peen
forced for years to pay 10 TO 20 per cent
for loans. Now the President has prom
ised rural credits legislation. Let US con-
suit the class which has studied the mat
ter through experience and let This co'h-
mittee determine upon the fundamentals
of n bill before 1t names an investigating
subcommittee"
That's putting the cart before 'ne
horse" said Mr.. Weaver. OF Oklahoma
Other members OF the committee agreed
with him and Mr.. Wingo cast the only
vote for his substitute motion.
Chairman Glass said he would announce
the appointment Of the three suo-con-
mttees later in the week. II VIII the"
be necessary to apply 10 the Rules Coih-
mittee for the necessary authority I"
summon witnesses and to engage expert
assistants to aid in the investigation
which is TO begin promptly.
Mr.. RagsdaIe. of South Carolina, suf-
fered a relapse of insurgency by taking
belated shot at the administration cur
rency bill.
81 think We should go slow about rural
credits legislation" he said. Never again
do I want TO go through the experience
we had in the currency bill hGht Wheh
lot Of new members were dumped down
and told 10 get out a currency bill under
whip and spur I know little about the
subject and there were others IN 'he
same fix.
ct understand the bill is going to be so
changed in the Senate we won't know IL
when II comes back 10 US. ! hope num-
her OF changes will be made, and mean
while. I want a real investigation OF the
anH laDhaZarO,
hurried legislation"
Democratic Senators who called Al tne
White House to-day were emphatlcaliy
urged by the President TO support the al
currency bill with all posslole
zeal The chat about the currency was
incidental. but reflected the fact tnat
President Wilson is somewhat perturoeu
over the prospects.
Senators Ashurst, Newlands. thompson
MARITIME. Fletcher. Shively, swanson
Sheppard and Salisbury were among the
Senators 10 receive the advice or expires
sions of hone" from the President to-day
They we're given 10 understand that the
President was determined to pass the cur
rency bill and that he expected Demo
cratic Senators TO support him
There has been no indication that Sen
ators O'Gorman. Reed and HitchcocN IN
tend to bow humbly 10 the Will or the
Chief Executive. Reports reaching the
White House are rather disquieting, II nov
alarming. rumors of other Senator'S plan
ming TO Join the trio being heard to-day
The possibility of altering the admin
istration currency bill TO provide for
central federal controlled bank TO dom
mate the currency situation Of the coun-
try was discussed to-day before the Sen
ate Banking and Currency Committee by
Charles A. Conant. Of New York, financial
EXPERT lie recommended the central fed
eraL institution as vast improvement
over the system Of twelve regional banks,
as at present proposed In the bill.