The Washington times., 1913-08-05
HITCHCOCK ST|RS UP
FIGHT ON CURRENCY
Nebraskan Tells Senators Bill
Should Not Be Rushed.
Owen Is Aroused.

In a significant speech showing all Is
not smooth sailing for the currency bill,
Senator Hitchcock of Nebraska stirred
up the currency question in the Senate
today by declaring himself strongly op-
posed to comprehensive currency legisla-
ton at this session of Congress. He
said the American people were entitled
to an opportunity to become acquainted
with the pending bill before Congress
passed 1t.
The remarks of Senator Hitchcock
were prompted By the fact he was cali
ed OH 10 present a resolution of the
Democratic county committee OF Sarpy
county, Neb., urgently demanding a cur
rency bill this session. He said that II
was one Of the few urgent demands of
this sort which had come to him, and
In presenting 1t he desired to say he did
not agree with its authors.
Il am certainly opposed" said Sen
ator Hitchcock, ito taking up at this
session the revolutionary bill which my
friend, the Senator from Oklahoma, has
Introduced: THE banking and currency
question Is a matter too delicate and
difficult to be treated in this inconsid-
crate and hasty way. II calls for the
greatest care, the most searching dis
cussion.
Senator Hitchcock said the country
had not made up its mind on the bank
ing and currency question, and IL would
be much better to take 1t UP in De-
cember.
The only possible reason for this
business disturbance, and this argu-
ment was most fallacious."
1T Is utterly out of the question" he
said, ITO use this bill as an emergency
4
year of organization to put II into
effect after its passage
Those who think we can pass IL one
week, and that on the following week
the country will have s5O0O00,000 of ad-
ditional currency with easy credit are
woefully mistaken"
Senator Hitchcock went into details
to show that long period of organi-
Zation would be needed. He predicted
many banks would refuse to go into
the new system, and said all would have
a year to consider before giving up
their charters.
He asserted IL was ridiculous" when
all the facts were considered to view
this as an emergency measure.
Senator Owen of Oklahoma. chairman
of the Banking and Currency Commit
tee, attempted 10 reply and was just
getting a start on a speech to refute
the assertions of Senator Hitchcock
when Senator Hoke Smith protested and
SAID this was not the time for a cur
rency debate. The tariff bill, he said,
should be pressed to a vote.
He believed agitation of banking and
currency legislation this session had
been a mistake, and said he had
strong belief there would be no legisIa-
ton this session, and that the Banking
and Currency Committee would not re-
port a bill. He suggested liberalization
of the existing emergency currency law.
He asked advocates Of the bill II they
thought a year of doubt, change and
uncertainty in the banking world would
be desirable at this time" when It was
possible there would be business changes
from the tariff.
ADVOCATES of this bill at this time
evidently go on the theory that II a
business disturbance Is to result from
a passage OF the tariff bill," he said.
''it can be cured by creating a banking
disturbance to last a year more"
II decline to yield" said Senator
Owen.
Then. Mr.. President. make the poin,
of order that the Senator is out of order,
and call for the regular order"
The chair sustained the point Of order,
and Senator Owen. with some heat. gave
notice he would speak on the subject at
the first opportunity