The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1913-09-20
CURRENCY BILL GOES FORWARD
DEMOCRATS STAND FIRM AND
REPUBLICAN AMENDMENTS
TURNED DOWN.
Day Passes with Practically no
Changes Made-Vote VIII Prob
ably Come Wednesday When Read
ing 10 Completed.

:
Washington. Sept 15.-With we'll
oiled Legislative machinery working
smoothly. the administration currency
bill rolled steadily toward completion
today under detailed consideration In
the house. A chorus OF Democratic
noes" quickly disposed of the nu-
merous efforts OF Republicans and
Progressives to alter the provisions of
the measure as agreed on by the
Democratic caucus. Not single ma
teriai amendment was voted into the
bill.
At the close Of the day nearly half
OF the bill had been read. At this
rate the house leaders thought they
might be able to finish some time
Wednesday.
Ths debate bristled with charges Of
gag law" and caucus rule" from
the minority with occasional SYM
pathetic replies from the Democratic
side. but when the votes were needed
the line held firm behind Chairman
Glass OF the banking and currency
committee. Representative Mondell
Of Wyoming aud Progressive Leader
Murdock devoted considerable time to
pleading with the Democrats to
''break the shackles" and desert the
caucus pledge. Mr.. Mondell became
involved In @ spirited controversy
with Representative Stanley who had
something to say about Republican
caucus action. Representative Dono-
van (pemocraD Of Connecticut join
ed with Representative Murdock In
one Of his attacks. declaring that the
leaders had abandoned the currency
bill TO the new members Of the house.
mot more than half a quorum Is
here" he shouted. They draw their
pay regularly and abandon the work
attached to their positions. This Is
nothing more than stealing"
What could they do IL they were
here?" demanded Representative
Murdock. The caucus has foreclos-
ed all action on the bin"
A rapid fire of amendments was
directed by the minority against the
section Of the bill providing that Ma.
tional banks must subscribe q sum
equal to 20 per cent of their capital
In federal reserve banks In their dis
trict Representative Linburgh Of
Minnesota endeavored to make the
subscription 10 per cent. OF capital
and surplus and allow the banks 1870
days In which to pay one-haif Of their
subscriptions. Under his amendment
the federal reserve banks would have
been allowed to begin business as
soon as the full s5.Ooo.O 900 capital
had been subscribed without waiting
for full payment. The amendment
after vigorous discussion. was voted
down. rs to 20. Several similar
amendments were defeated.
An attempt was made to write into
tho bill provision forbidding officers
or directors In national banks from
holding similar places In other ma
tional banks OF In any other financial
institutions. The Democrats stood by
the caucus and the amendment was
rejected. IL 10 a..
Another flood of amendments de-
sisned to curtail the power of the fed
eral reserve agent. named by the bill
as the chairman Of the board Of d.
rectors and the representative OF the
federal reserve board In each federal
reserve bank. also was defeated.
A few changes In phraseoiogy ac-
ceptcd by Chairman Glass were the
only amendments adopted.