The Washington herald., 1913-06-24
CURRENCY TALK
LASTSALLDAY
Bankers Discuss All Phases
Of Bill at New York
Conference.
WILL PROPOSE CHANGES
Morgan-Rockefeller Interests Not In.
vited to Meetng-A Sec
lions Represented.

New York, June Eve are doina
nothing more at these conferences than
talking over the currency reform legis-
lation, trying to harmonize our ideas,
to understand 1t and to apply the
changes to practical business. We will
not criticise any body until we have
seen the finished product. AS 1t stands
now, the currency bill is subject to
changes, and we 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
members of the currency commission of
the National Bankers Association. who
participated in another all-day and
evening conference at the Waldorf to-
day.
At the close of the session at o'clock
Col. Fred E. Farnsworth, secretary of
the commission. announced that no more
Information would be Forthcoming, otter
than the statement which Hepburn chose
to give out. All the men present pledged
themselves not to discuss the matter out
side the conference room.
When completed, copies OF the changes
favored by the bankers will be widely
distributed and will be sent to Washing
ton, although not in a formal way.
All Sections Represented.
There were present at the meeting to-
day besides Mr.. Hepburn the friends Of
the commission, George NJ. Reynolds, Of
Chicago; John Perrin, OF Los Angeles:
Levi L. Rue, of Philadelphia, E. l.
Howe, Of Princeton, n. J.: Augustus J.
Wade. of st. Louis; Arthur Reynolds.
of Des Moines; Joseph T. Talbert, OF
New York; Sol Weaver, of New Orleans
and Col. Farnsworth.
1T Is very evident that We cannot criti-
else any bill yet" said Mr.. Hepburn to-
night. THE currency measure has not
been completed. and there may be many
changes We are merely taking up each
point in the draft as II now stands,
thrashing out every difference of opinion,
and trying to arrive at compound opin-
ion. In short, We are applying the vari-
Gus reforms to practical business, and
trying to discover how II works out"
Mr.. Hepburn was asked IL the big bank
ers were fully in accord with the idea
Of permitting members of the commits
sion to act for them in the matter, and
II the recommendations of the informal
conference would be confined to any lin
its agreed upon.
Morgan Intcrcsts Not Invited.
I suppose you want to know why the
Morgan-Rockefeller or other interests
are not represented individually" said
Mr.. Hepburn. 1T is because they are
not invited. These men are all mem
bers of the currency commission asso-
citation. empowered to act upon cur
rency legislation. This, however. is a
purely informal gathering. All men,
bers of the commission are not here.
"As to the scope of our proposals.
it must, of course. follow the line of
the questions answered at the Atlantic
City convention. Every possible point
was covered there. The result of our
work here, when completed and put in
proper form, will not vary from the
policies outlined in those questions.
The report, while written. will not
be sent to Washington by the commits
sion, although 1t 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. 1t must reach the
public from Washington.