The Hattiesburg news. (Hattiesburg, Miss.) 1908-1917, 1913-10-06
MANY OBSTACLES IN WAY OF
EASY PASSAGE WILL BE EN-.
CoUNTERED IN SENATE.
WILSON BELIEVES 1T WILL PASS
President Confident Favorable Action
viii be Taken on Measure by Con-
9ress at This Session-Reform Need
ed to Make Tariff Effective.

Washington, Oct. 6.-Political Wash
ington, relieved of the long drawn out
consideration of the tariff, will focus
its attention this week on the second
of the Democratic reform measures
banking and currency legislation.
Though the administration curren-
cy bill easily passed the House its
pathway in the Senate is admittedly
full of obstacles. At present the Sen
ate Banking committee has not yet
begun consideration of the bill, intend
ing for at least ten days more to hear
prominent bankers and finance eX-
perts. Predictions at the capitol are
general that for a month thereafter
the senate committee will be at work
on the measure considering numerous
amendments.
While there was almost unanimity
of opinion on tariff revision, widely
divergent views are held by Demo
cratic senator on banking reform.
A strong desire for a single bank with
branches under government control
instead of a regional reserve system
of banks has made its appearance
in the informal discussion. Other
changes of far-reaching character
are being suggested and generally it
SC 1ol Pal hill
factory to the Senate Banking commit
tee can reach the floor of the Senate
before the middle of November.
I Passed This Session.
At the White House there is conf
dence that the bill will be passed this
session or be placed on the statute
books at any rate before the first of
the year. The President wants thor
ough consideration of the currency
bill and any Improvement that the
Senate can make upon the measure
:as passed by the House will be well
coined. His disposition, however is
to oppose strongly any undue delay,
for he believes prompt revision of the
banking and currency system is neces-
sary to meet the commercial expan-
sion which he expects will follow oper-
atiGn of the new tariff.
President Wilson believes a general
decrease in the cost of living that will
be felt by the people of the country
is not dependent alone on tariff re-
vision, but upon prompt reform of
the nations monetary system as
we'll as careful amendment of the anti
trust laws.
The Presidents view of the effect
of the tariff is in accordance with eX-
pressions from Representative Under
wood and other Democratic leaders,
that while reactions in some cases
will be immediate, the general bene-
fits will not be apparent at once.
Even though the tariff laws might
bring many imports into this country
at low rates or free of duty, the evils
of price fixing, under selling and other
determinations in restraint of trade
might, in the Presidents opinion, de-
feat the fruits Of tariff reform.
Freedom of Credit.
Another essential to free competi-
ton, in the Presidents view, is free
dom of credit. With the concentra-
ton of credit in what the President in
his Chicago speech last January de-
scribed as IAN inner circle" even the
benefits of trust regulation and tariff
reduction can be withheld from the
consumer by the sitting Of enterprise.
None of the administration leaders
entertain the slightest idea that the
tariff will have any adverse effeet
On the other hand, in pushing for
ward the currency program they have
pointed out that an elastic financial
system is necessary now more than
eyer to meet natural enlargement OF
business operations following the nj
portation of foreign products AZ low
duties.
AS soon as the Decembef se5sIQn
opens the administration vI|I te<In
10 center its attention on I1s IL