New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-10-01
Will Urge High Speed, Believing
That Delays May Cause
More Complications.
BUT CAN'T STOP HEARINGS
Indications ThatApparent Dead
lock May Be Broken by a
Compromise Permitting
Some Amendments.
From The Tribune Bureau. J

Washington, Sept Ca tentative pro-
gramme for the passage of the admins
tration currency bill was outlined at a
conference OF the President, the Secretary
OF the Treasury and Senator Owen At the
White House to-day, and II was agreed
that there should he no temporizins with
tho opposition.
President Wilson will urge high speed
for the bill. believing that delays may
cause further complications. He feels that
the bill in its present form should be &C
cepted by the Democrats In congress
without further question, although IN
formation has reached him that innumer-
able amendments are threatened.
II is the Presidents intention 10 remain
in Washington and personally direct the
passage Of the bill. Just what influences
he will bring TO bear upon Democratic
members who threaten to balk will de-
velop soon.
The demand OF delegations OF bankers
and business men from Georgia. Missis-
sir ri and South Dakota for m opportunity
10 be heard BY the Senate Banking ana
Currency Committee on the currency pll'
however. put q new obstacle to-day IN the
way OF the Presidents purpose. frotes's
from Southern states, which were counted
upon as favorable 10 the Presidents plans
for currency reform. have been discon-
certting TO the administration and
threaten 10 delay consideration OF the
ella bill by the Senate.
Can't Stop tho Hearings.
hVtn
hearings 20 an end. but without success
Even his Democratic colleagues insist that
they shall go on 50 long "a witnesses pre-
sent information Of value. optimistic pre-
dictions from the White House are met
with predictions from members OF the
committee that tho hearings viii continue
for AT least two weeks, and that the BIZ,
II rcportcd AZ all. will not be ready before
November !.
There were Indications to-day that the
apparent deadlock may be broken by
compromise The administration u nope
fuI Of passing tho bill Critics OF the
measure are equally hopeful that II VIII De
so amended as 10 remove us most CHARMS
defects. IS the situation stands. the az
ninistration cannot force the Dill
through Unless the rccalcitrant Demo-
cratic members OF the committee arc
scourged into line the President must
Weld 10 the extent Of allowing the Senate
committee 10 perfect the measure. II TINS
is done II IS expected that some Kepuo"-
can Senators will support the bill.
II the President could he induced to ap-
prove some OF these changes. and others
hlch will be proposed by members OF the
committee. he would probably be able 10
p,uster q majority in the Senate. with the
aid OF Republicans. who would vote ior
the bin on the ground that II constitutes
an Improvement on the present system
This appears to be the only solution oi
the problem open 10 the administration.
Conant Suggests Changes.
charles 4. Conan,. OF New York, who
devised the currency systems OK the fh'I-
irpines and Panama. was a witness peto'o
tho Senate committee to-day. lie APP
rroy,d the general purpose Of tho cur
rency bill but criticised many OF It's pro
visions.
Mr.. Conant said that the plan OF Issuing
money Oh rigid security. such as bonds
vas not means Of providing an elasuc
currency. lie favored the scheme In the
bill Of issuing currency on short time COM
mercial paper.
Theoretically. Mr.. Conant favored the
creation of a central bank. but he be-
licved the same end would be gained by
the twelve national banks created by the
bill lie suggested. however that the
banks be organized In strength accord
ing to their location.
you would not gain anything In your
efforts 10 combat the money power, TOE
instance" said Mr.. Conant. by putting
&, o,o 90 bank i'm New York, where YOU
u.o,ld need 100000"