Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1913-10-06
President Confident Of The
Passage Of the Bill.
Believes Such Reform Necessity
ToAccompany TaIittLaws.
Antitrust Program Will Be Carried
In December Session.

Washington, Oct. 5.-Washington.
relieved of the long drawn out tariff,
centers it's attention. this week, on
demonstrating and currency leg
islation.
Though the administration currency
bill easily passed the House, it's path
way in the Senate is admittedly full
of obstacles. At present. the Senate
banking committee has not yet begun
consideration of the bill, intending 70,
a time at least, 10 days more, to hear
bankers and finance experts. Predic-
tons at the capital are general that
for a month thereafter the Senate
committee will be at work on the
measure, considering numerous amend
ments.
While there was unanimity of
opinion on the principle of tariff re-
vision. widely divergent views are held
by Democratic senators on banking
reform. strong desire for single
bank with branches under govern
ment control, instead of a regional re-
serve system of banks has made its
appearance in the informal discussion.
Other changes of a far reaching char
acter being suggested and generally It
is regarded as doubtful If bill sat
isfactory to the Senate banking COM
mittee can reach the floor of the SEN
ate before the middle of November.
Confidence at Whitehouse.
At the White House there is a con-
fidence that the bill will be passed, this
session, or be placed on the statute
books. at any rate, before the first Of
the year. The President wants thor
ough consideration of the currency bill
and any Improvement that the Senate
can make upon the measure as pass
ed by the House will be welcomed His
disposition, however, is to oppose
strongly any undue delay, for he be-
leves prompt revision of the banking
and currency system is necessary to
meet the commercial expansion which
he expects will follow the operation of
the new tariff.
President Wilson believes general
decrease in the cost of living that will
be felt by the rank and file of the coun-
try is not dependant alone tariff re-
vision, but upon prompt reform OF the
nations monetary system we'll as
careful amendment of the United States
trust laws The Presidents views of the
effect of the tariff is in accordance with
expressions from Rep. Underwood and
other Democratic leaders that while re-
auctions in some cases will be immediate,
the general benefits will not be apparent
at once Even though the tariff laws
might bring many imports into this coun-
try at low rates or free of duty, the
evils of price-fixing. under-selling and
other determinations in restraint of
trade might in the Presidents opinion
defeat the fruits of tariff reform. All
other essential to free competition, in
the Presidents ciew is freedom of cred
it. With the concentration of credit, in
which the President in his Chicago
speech. last January. described as an
inner circle even the benefits of trust
regulation and tariff reduction can be
withheld from the consumers by the
sitting of enterprise.
None of the administration leaders en-.
terrain the slightest idea that the tariff
will have any adverse effect. On the 9th
er hand. in pushing forward the eurren
cy program, they have pointed out tina
an elastic financial system is necessary
now more than ever to meet a natura
enlargement of business operations fol
lowing the influx of foreign products a
low duties.
AS soon as the December session opens
the administration will begin to cente
its attention on antitrust program
There is no intention at the Whit
House to draft the administration meas
ure What is expected to happen Is tina
the members of the House judiciary com
mittee and the Senate committee on in
terstate commerce will confer early wit
President Wilson and discuss the subjec
informally The President hopes tina
before the antitrust bill is launched i
the two houses. there will be a comma
agreement on it in the committees.