Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-10-16
Senator Hitchcock Tells Presi-
dent 800 Changes Should
Be Made in It.
SAYS BILL CANNOT PASS
AT THIS EXTRA SESSION
3. D. Milliken, Expert, of This City,
Advocates q Sliding Scale
Of Gold Reserves.

Radical amendments will be made to
the currency bill by the Senate bank
ing and currency committee, and the
Legislation cannot be completed at the
present extra session of Congress. ac
cording to information given the Presi
dent this morning by Senator Hitch
COCK OF Nebraska who, with Senator
Reed of Missouri was called to confer
with the President at the White House.
Senator Hitchcock has refused in the
past to be hurried in the consideration
Of the currency bill. and today after
leaving the White House he made 1t
clear that he had not changed his at
titude with regard to the program
Senator Hitchcock refused to set any
specific date for a report by the bank .ng
and currency committee. He said that
radical amendments to the Glass bill were
to be expected and that an expert had
examined the bill for Chairman Owen
and had reported that more than 800
amendments to the bill were necessary,
many Of which, however, were minor
amendments.
Opposes Secret Caucus.
The Nebraska senator said that the
President did not wish to have the bill
considered in secret caucus and that he
wanted the bill handled as a non-partisan
measure, except In the sense that 1t Is
to be a democratic bill. since the legis-
lation must in the end be credited to
the majority party. The Pres dent does
not want the party harmony disrupted
or the party program interfered with
by rows over the currency. according
to the senator.
al, ofn,
Hitchcock. ''tnat to let the currency DILL
go over into the next session would
seriously inte- fere with other parts OF
the administration program. / want to
see democratic harmony and l should
like to see The Presidents wish graft ed
do not want the administration program
to be sacrificed, but on the other hand
l do not wish to see the merits of tn.
bill sacriuced.
Doubtful of Quick Action.
Il think that even if We do get &
report during the first week in November
which would be about two weeks after
the hearings close there will be diff
Guilty in getting quick action on the foo
of the Senate"
Senator Hollis Of New Hampshire
called to invite the President to visit
Manchester and remained to talk
Senator Hollis is exceedingly hopeful
of the passage of currency bill be-
fore the end of the special session.
r. ID. Milliken of this city, an expert
on currency. was before the Senate
committee today He both praised ana
criticised the Glass bill. He declared
himself opposed to the proposed system
of fixed gold reserves, ard advoca ted
a sliding scale of reserves.
Currency Doctors Disagree.
THE currency doctors disagree as to
the amount of reserve which should be
held said Mr.. Milliken, land some of
them insist that the medicine shall be
pure gold, while others are not so par
ticular as to the purity of the medicine,
but insist upon a pure food label for it
Mr.. Milliken declared distinction
should be made between a sound credit
system and what Is called a sound bank
ing system. He spoke strongly in favor
of the system adopted in England. and
declared that the bill of exchange is the
principal circulating medium in the coun-
try in business.
Amendments Favored.
Consideration of the currency bill by
the Senate committee has so far ad-
vanced that some Of the members have
put themselves on record as to amend
ments which they favor. In a statement
given out last night Senator O'Gorman
of New York dec AIRED himself In favu,
of a single government bank with
branches In place of the twelve regiona
reserve banks p. divided In the bill He
also favored a reduction from % per
cent to 10 per cent of their capita. sub
scribed by the member banks to the
reserve bank. He would permit one-half
the amount to be paid the fl st year and
one-haf during the second year. Sen
at OGorTnan exn; eSsad tho onfpiop tho