The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-06-24
BANKERS SILENT
AS TO CONFERENCE
They Have Nothing to Say to
Public About Currency
Bill.
ANOTHER M EXITING HELD
Results of Their Discussion Will
Find Way to Washing
ton.
Especial 10 The Times.DIsn,,cb !

i h.l
New York. June 23.--"We are doing
nothing more at these conferences than
talking over the currency reform legis-
lation, trying to harmonize our ideas.
TO understand II. and 10 apply the pro-
posed changes to practical business.
we shall not criticize any bill until
we have seen the finished product. AS
II stands now, the currency bill is sub
1ect to changes and believe that some
are contemplated
That is the official statement OF A..
Barton Hepburn. chairman OF the
Chase National Bank. issued on behalf
of the ten members of the currency
commission of the National Bankers
Association who participated in an
other all day and evening conference
at the Waldorf to-day. At the close
of the session at o'clock Colonel Fred
T.. Farnsworth. secretary Of the com
mission. announced that no more in
formation would be forthcoming. other
than any statement which Mr.. Hep
burn should see 1T TO give out. All Of
the men present pledged themselves
not TO discuss the matter outside of
When completed. copies OF the
changes favored by the bankers will
be widely distributed. and will be sent
TO Washington, although not in a for
NAL way. Any effect on the completed
bill will come from the personal in
Perrin. OF Los Angeles. admitted. in
every possible way.
There were present AT the meeting
to-day, besides Mr.. Hepburn. the fol-
lowing members of the commission:
George NJ. Reynolds. of Chicago; John
Perrin. of Los Angeles; Levi l.. Rue. Of
Philadelphia; e L. Howe. OF Prince
ton. " j.; Festus ]. Wade, OF 81 Louis:
Arthur Reynolds. Of Des Moines: Jo-
seph T. Talbert, OF New York Sol WeX-
Ter. Of New Orleans, and Colonel Farms
worth.
1T is very evident that We cannot
criticize any bill yet said Mr.. Hepburn
tonight to representative of The
Times Dispatch The currency meas
ure has not been completed. and there
may be many changes. We are merely
taking up each point in the draft as IT
now stands. threshing out every off
ference OF opinion and trying to ar
rive at compound opinion.
In short, we are applying the pro-
posed reforms TO practical business and
trying 10 discover how they wnrkrc'lt'
Mr.. Hepburn was asked big
banking interests were fully in accord
with the idea Of permitting members
of the commission 10 act for them in
the matter. and IL the recommendations
OF the informal conference would be
confined TO any limits agreed upon
81 suppose YOU want TO know WIN
=
terests are not represented individ
ually." said Mr. Hepburn. 1T is be-
cause they are not invited. These men
are all members Of the currency COM
mission of the association. empowered
TO act upon currency legislation This
however. is purely informal gather
ing. All members of the commission
are not here.
AS to the scope OF our proposals. il
must, OF course. follow the line Of the
question: answered al the Atlantic
City con .ntion. Every possible point
work .re. when completed and put
in the proper form will not vary from
the policies outlined in those ques
tons.
The report, while written, will not
he sent 10 Washington by the COM
mission. although II will, Of course
reach there through members In case
OF public hearing, we shall. OF course
want TO be heard The report Will not
be given publicity. II must reach the
public from Washington II ut all"
John Perrin. OF Perrin, Drake &
Riley, san Francisco, denied that bank
ing interests were lining UP in any
sort OF West against East" forma-
ton on the matter OF the currency
measure Both he and Colonel Farms
worth were emphatic in declaring that
there was no dissension. IT is tacitly
understood, however. that the confer
ences are held by the opponents of the
bill for the purpose OF reaching q sat
isfactory compromise with its advo-
Gates. IL compromise be possible, that
some points ma be conceded by both
Sides and a satisfactory solution
evolved. The four points about which
dissension centres are reserves, gov
eminent control issuance OF new notes
and national bank note redemption
OF these, government control of the
new system is productive Of the major
share Of divided opinion.