Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1913-07-22
SATISFIED WITH
CURRENCY BILL
PRESIDENT PLEASED WITH Pro
GRESS ADMINISTR ALTON
MEASURE Is MAKING.
NO CHANCE IN FLAh
BI!l WIN be Passed rs Amended by
the House Committee Says
senator Owen.

WASHINGTON, July 21.-There
aIe 10 be no changes in the admins
tration plans In the enactment of a
r.-Corm measure at the present con-
gress This was plainly indicated to-
cav by President Wilson and Senator
owen, charm an Of the senate com
mittee on banking and currency al
tei they had held long conference
~ the white house. The president
said he was satisfied with the speed
with which the currency bill was be-
ing handled 0t the capitol. He de-
clared his confidence In the ultimate
passage OF the Glass bill with tho
changes proposed by the house COM
mittee, changes with which he said,
be was in perfect accord.
The most important change recon-
nended wDuld permit national banks
to continue the use Of the 2 per cent.
government bonds for circulation.
ether amendments are OF minor i'm
lCrtanCe, senator owen said. The
federal res rye board would have no
Y eight with the administration and
tnat I'm th's respect the bill would be
passed by both houses I'm its present
form.
Left Committee Meeting.
Continuing their rather turbulent
consideration OF the administration
currency bill, the democrats of the
house banking and currency COM
rhittee today agreed upon several
tentative changes OF Importance.
This was done at an afternoon session
Of the committee. which Representa- o.
I've Raesdale OF South Carolina left
summarily. declining to take further
part in tha days deliberations.
Representative Ragsdale announc-
ed his dissatisf ,ction with the pro-
rcedure OF the democratic members
otter he had found it impossible to
secure copies OF all the various
amendments offered to the bill. lie
lad asked Chairman Glass for them
riday. Today the chairman said
many of the amendments were unim-
pcrtant and that n complete list OF
copies WAS not available After
scme rather heated controversy rep
Rosentative Ragsdale left the COM
mittee room He said tonight he had
worked on various features OF the
hill outside of the committee and
thGt he would attend tomorrows ses-
sion prepared to take part in the
consideration OF the measure.
Provides Gold Reserve.
Chairman Glass tonight gave out
the text of a revision Of the note issue
section Of the bill which he said he
Lad made for the committee. This
e ntativc draft would provide that
e. defal reserve banks must carry in
their vaults as reserve. gold or
gold certificates to the amount Of
50 Ia per cent. OF the treasury notes
over notes issued bv the bank The
bill originally called for this reserve
In gold or lawful money" After
some discussion Il was agreed to
change IT IN order to prevent the ac-
cumulatlun Of greenbacks and silver
dollars In he reserve.
The conference today returned 10
he re-discount section OF the bill 20
reconsider its action OF last week
hon the maturity term OF re-dis-
e untable votes was changed from 45
20 60 days. II was agreed 10 retain
tho 45-dav term. after o proposal by
epresf nta:iye WingO 20 extend the
term to Elk months rad been r'cctcd.
An amendment 10 th" market OPP
crat'ons section # the bill would al
low The deral banks 30 invest their
funds - United States bonds and
bonds issued By any state. county or
niunicipality.'