The Washington herald., 1913-10-30
BANKERS OPPOSE
HASTEONBILL
CONTINUED FROM PAGE ONE,

Hibbs & Co. deplored haste in such
legislation as the currency bill
at is entirely too important to be
rushed through merely because some.
body says So" Mr Spaid stated. .sI,
was railroaded through the House; II
ought not to be railroaded through the
Senate.
They should continue the hearings Il
that course viii expedite the passage OF
the bill OF course, they are going to
pass It While the measure is pending,
there is a hesitation in business, but
that is not sufficient reason to warrant
Congress in rsilroading legislation as i'm
portant as this"
I'VE al know this bill is not perfect
BILL" said s. J. Henry, vice president and
treasurer of the United States Trust Com
pany. Il doubt IL any legislation gotten
through at this time would be a perfect
bill But some action should be taken at
this time.
There are many good features in the
bill that have been needed for so long
that 1t would almost seem that by getting
these desirable statute books we should
be taking big step forward in currency
legislation.
The necessity for changes in the bill is
NV SUNG " OcB lulS LIIles a SoDlClenL
reason, In my opinion. to defeat the meas
ure."
William T. GaIliher, president of the
American National Bank. declared that
there is no real reason for undue
haste
THE attitude of the Senate committee
in celebrating on this matter meets with
the approval of banking and commercial
interests" Mr.. Gallfher said There ara
l..vs - ,AE A..
] believe will be worked out and rec
eBciled in discussion.
Il am unable to see any reason for
undue haste in this legislation. / be-
lieve the Vreeland bill with amendments
would cover the present needs The
tendency to haste does not benefit bank
ing or commercial interests"
Congress convened for the extra ses-
sion April Z. It has only recently COM
pleted tariff revision. Congress ought to
have gone home. There was no neces-
sity for taking up currency.
THE currency bill passed the House
by a vote of 2S6 to 81 But in the Sem
ate committee il meets with a consider
able division of opinion. I think that the
hearings that have been granted have
tended to a modification of the bill which
hearings. /, therefore. think it the part
of wisdom to grant hearings. We may
get more satisfactory legislation. I.
therefore, believe that hearings should
rot be denied, and that deliberate con-
sideration Of the bill would finally give
&c the country a bill that would be gen.
orally acceptable"
TAFT FavorS Passage.
Passage Of the administration currency
bill without delay is favored by ]. Sell
win TAFT, president of the Washington
and Southern Bank.
II think that while there may be some
merit in the different propositions sub
mitted lately, the administration bill
l. e., the Federal reserve act-meets
every requirement of the situation, and
while certain amendments called for may
safely be conceded / do not think any,
thing is to be gained by delaying the
passage of the bill
when we stare too long at a thing
we are apt to lose our sense Of proper
ton and balance, so that our best judg-
ment becomes warped / think not only
our legislators but the country at large
already have given their mature thoughts
to this bill, and that in the best inter-
ests OF the country 1t ought to be put
through without delay"