The Washington times., 1913-08-14
INSURGENTS SCORE
. ON CURRENCY BILL
Make Such Progress That
Friends of Measure Are
Taking "ConceSSions."

Promising to make a dent in the Ad-
snfuistration currency bill when its read
ing is begun for amendment, the lnsur-
Zent Democrats continued their warfare
in caucus today on the Glass-OWen
measure. The insurgents made mater
Gal progress yesterday afternoon, and
She conservatives became somewhat
alarmed over the prospects of the Dill
going through the caucus without
change. ..o-
II is probable the insurgent faction
will lose out on the proposal to prohlolI
Interlocking directorates among ma
8ionsI banks, but the Ragsdale-herlry
amendments for an agricultural credit
currency now stand a better snow Vi
e6option. These amendments are pre-
runably drawn in the interest OF the
farmer. and Democrats are hesitatlns 10
vote against the fellow back home
President Wilson's statement pronls-
gnr rural credits legislation at the
next session of Congress was mace 700
late to influence the caucus deDate ~
rerday. but il is doubttnl lhal -
S'friends of the farmer" will cease Ihett
.Sortg n amend the bill unless the ChleI
TvecT1tiye comes out still more stronsS
srainst any change in the AomlnlsIra-
ton bill credits -
,,rivateIy explained a farmer menoeI
- ri1raI credit system plasters
the farm with mortgages peloIS ~.
Cron Is made. We want 10 alietiu t. S,l.S
hill now so the paper OF Ihe Ia tto,, -
backed by warehouse reGelPts oSfscounted T,s
corn. and wheat, may be reoiSCou reS..l -
FIy the Federal reserve banks, mus slN.
;1r the producer an opportunity 10 I,aa
currency issued against ms proouSGus+;
lust as it is proposed to issue II de 20
ybe conmercial assets of the pahks anu
business houses.
Now Talking Concessions.
Co,gressmen Henry, Ragsdale' and
r-osIe are leading the fight for I'm
on5rnents prepared by the two Tor
.,er Mr.. Henry predicted today that OF
- en.1 vote the amendments woulo
-. a safe majority in caucus ana Iht
-o-,-.tive members of the Glass lac'
49, 1,ere plainly perturbed over tht
-Sa--,rg s+rengtah of the opposluoI
movement, They are now talAihs u
concessions. ,,;,, vii,
at halieve the success of the Dill VIII
=. assured in the House If we MAKE
g., concessions" said a conserve
leader who has heretofore retuleu al
Sa+or,ents that the bill would Dc
amended in caucus. - +b.
Pftter attacks were made upon @ Ihe
hin nv Mr.. Henry and Mr.. Eagle, .,nt nt
latter declared that the AoIIlLLl
-aoIJtJcaI machine in the history OF Oui
Sovernment." He referred to the erea
S1oyUers of the Federal reserve DoAfu. u
he appointed by the PresloennI- en- WI
Eagle said the Glass-Owen Dill was
thinlv disguised Aorlcn P n,
S-on6ered what Andrew Jackson wouic
tb,nk Of this bill and the paternaIlstl'
Agreement proposed between the GoH
arnment and the banks.
Mr Henry demonstrated to MS owl
Ratisfaction, and that OF huIllDeI y y
I-averinp members, that the CURRENCY
min Is a straight-out asset currency
measure He quoted extensively IRON
tn sneeches of House Democrats ce
1ivered in 1905, when the various Denlo
cratic leaders of that day nVelsheC
against the Aldrich-Nreeland phi AM
asserted their undying opposition Il
asset currency. B,,,
The nresent chairman Of the Bank
eng and Currency Committee, Mr. Glass
was opposed TO asset currency theH'
FaI5 Mr Henry, land yet this Dill pear
his name" Mr.. Henry also QuoteS
from a speech delivered oy Cliie S@nie xo'
row Senator in which he pleaded FOR
currency which would be Of beneht u
the farmer as well as the banks ant
Wall Street =.
The Texas insurgent also read plat
form declarations of the Democrau
party. which he declared were IN oPpo
sition 70 the fundamental features
the Glass-Owen bill.
The caucus debated the currency bi
gor sly hours Yesterday. Supporters G
the bill were on the defensive, and tn
Insurgents utilized most Of the time. MI
~ Indiana a member OF IN
Ranking and Currency Committee, spok
briefly In support Of the Administrative
measure. The time limit for genera
dehate'' has now been fixed at thirtee
hours The agreement first was 10
eight hours. then for ten, and now
Is believed that the wide range discus
sion may continue until the end OF IN
week. which would materially delay tn
reading Of the bill for amendment.
II looks like we will be IN caucus I"
weeks" said Mr.. Henry.