New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-08-11
Party Caucus Begins Today
What Promises To Be a Long
Fight Over the Bill.
INSURGENTS PLAN ATTACKS
Will Make Special Efforts to
Restore the Amendment Pro-
hibiting Interlocking Bank
Directorates.
From The Tribune Bureau ]

Washington, Aug. 10-The administra-
ton currency bill will be put before the
Democratic caucus tomorrow. Prospects
are that it will be the subject Of fractional
wrangling for at least week and the
insurgent faction, led by Representatives
Henry, Ragsdale Neeley and Eagle. will
fight to amend the measure.
Mr.. Henry. chairman of the Rules Com
mittee. who acts as adviser in chief to
the recalctrants on the Banking and
Currency Committee. asserts that spe-
cal effort will be made to restore TO the
bill the amendment prohibiting interlock-
ing directorates among national banks.
This amendment was voted into the bill
by the committee and then voted out. at
the urgent recommendation, IL is said OF
the President
The insurgents also will centre their
efforts on the so-called Henry-Ragsdale
amendments providing for an "agricult-
ural credit currency. These amend
ments were defeated in committee.
Three Reealcitrants.
Three members of the committee will
go into the caucus refusing TO support
the favorable report of the majority.
Messrs. Eagle Ragsdale and Neeley will
throw down the gage OF battle before the
caucus has been under way an hour and
a spirited party row is assured
Mr.. Neeiey will inject into the discus
sion the findings Of the Puio money
trust" committee. and will insist on re-
opening of the inquiry, with incidental
demands for an anti-interlocking directo-
rate amendment and an investigation OF
Secretary McAdoo's charges OF bank
conspiracy" to depress the per cent
bonds.
Mr. Eagle. who recently gave sixteen
different reasons why the administration
currency bill should not be supported, will
rebel on general principles believing that
the Glass Owen measure establishes pa
ternalistic relationship between the gov
eminent and the banks
In order to embarrass members from
rural communities who may be on the
fence regarding the agricultural credit
amendments rollcals will be demanded
by the insurgents.
IF the banks are TO be permitted 10
issue currency against their rotten as
sets" argues Mr.. Henry. why should
the farmer be denied the privilege OF
converting into ready money his cotton
corn and wheat, covered by bonded
warehouse receipts"
To Fight "Corn TasseI" Currency.
The Glass faction in the Currency Com
mittee calls this corn tassel' currency
and the conservatives are being corralled
TO vote down any change in the funda-
mental principles of the bill as approved
, by the committee majority.
Although he was originally opposed 10
currency legislation at the extra session.
Mr. Underwood will assume the part OF
peacemaker at the caucus. In Difference
TO the wishes of the President. he will
aid Chairman Glass in holding the Demo-
Gratis in line for the bill. The majority
leader has been advised that a poll of the
House Democrats shows that the curren-
cy bill is safe. but no chances are beng
taken. and the regulars have been re-
quested TO be out in force. The insur-
gents are working quietly and express
confidence that the bill will be amended
before the week is out.
After the currency measure gets
through the caucus Mr.. Underwood thinks
II can be put through the House within
ten DAYS. No decision has yet been
reached by the leaders on the proposal
not 10 make the caucus binding. bind
ing party caucus it is argued, might
ALLEVIATE Republican support and the
chances are that II the Democratic ma
jority for the bill is large no resolution
to bind those attending the caucus will
be adopted.