The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1913-08-23
Bankers to Cooperate
With Administration
on Currency Measure
Policy Of Cancellation and Cooperation Was Adopted by the
Bankers Conference Yesterday
This Attitude Was Assumed Following Advice From Reynolds
Who Conferred With Secretary MAdoo

endeavor to get the best measure pos
sible under the circumstances. There
already have been 500 changes made
In the bill since it was introduced, and
L believe We can, get many more ii
we go about 1t in the right way" 81,
Other speakers urged the adoption
Of the same policy in discussing the
measure.
James B. Forgan, of Chicago, open
ed the discussion by introducing a set
OF resolutions pointing out numerous,
defects in the bill, and advising that
congress be asked not to pass any cur:
rency legislation at the present ses-
sion but defer action until new bill
drafted by commission composed Of,
representatives of the government, the
bankers and business men of all
classes, appointed by the National
Chamber of Commerce, had been given
an opportunity to prepare a new bill
The resolutions were read, and after
they had been discussed, were referred
to the committee on resolutions for
consideration. :
The committee, will submit it's re-
port to the conference tomorrow.
The following committee on resolu-
tions was appointed:
Representing the currency commits
sion of the American Banking as
sociation - A. Barton Hepburn New
York; James B. sForgan, Chicago;
George NJ. Reynolds. Chicago; John
Perrin, Los Angeles; Sol Wexler, New
Orleans.
Representing the state banking as
sociatfons-E. J. Hill, Connecticuty
Nathan Adams, Texas; George A.
Holderness. North Carolina; H, A.
Mochlenpah, Wisconsin,; r. S. Hawes,
Missouri. ~ 80
Representing the clearing house as
sociations - r. F. Maddox, Atlanta:
Stoddard Jess, Los Angeles; S. D. Fit
ton, Hamilton, o.; E. F. Swinney,
Kansas City; Graham G. Lacey st.
Joseph, Mo. 49,, -:
F. w. Foote. of Hattiesburg, Miss.
introduced resolution suggesting an
amendment authorizing banks to con
tinue charging exchange fees on
checks, which was referred .
Andrew J. Frame, of Waukesha,
Wis, expressed the opinion that the
! new currency bill did not provide for
the preservation Of the gold standard.
as the treasury notes We're redeem
able in gold or other lawful money.
| , Bryan Endorsed Bill. 5L
| Supporters of the, administration
currency q bill scored an important
victory in the house democratic caucus
yesterday When they brought to their
aid an unqualified endorsement of the.
measure from Secretary Bryan and.
defeated proposed "insurgent'' amend.
ments that would have prohibited.
interlocking directorates in national
or state banks incorporated under the
proposed new law.
Secretary Bryan, in letter address
ed to Chairman Glass, of the currency
committee, approved the bill as ID
stands, saying President Wilson had
recognized fundamental rights OF
popular control in It's provisions. He
asserted that the plank of the demo-
cratic platform against interlockiag
directorates was aimed chiefly at
trusts and he urged democrats to-
stand by the president" and not to
load down the currency bill with any
amendments that might endanger its
early passage.
Fortified with the backing of one
of the makers Of the Baltimore plat
form Representatives Glass and
Underwood met the demand for in
amendment to prohibit interlocking
directorates with a counter proposal
that the democrats of the house take
up general legislation against inter-
locking directorates at the next ses-
sion. A resolution by Representatives
Underwood, adopted by a vote OF 1870
| to so, referred the entire subject 10
| the democratic members OF the iudi-
| ciary committee of the house and
directed them to bring in bill at th,.
| next session Of congress that woula
| Continued on Page Ten.