The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-08-25
BILL
To PASS HOUSE
AS It STANDS
Criticisms Made by Confer
ence of Bankers Serve to
Tighten Lines of Admin
istration Forces.
SENATE MAY MAKE.
SEVERAL CHANGES
In the Main, However, Meas
ure Finally Enacted Will
Garry Out Wishes of
President Wilson.

WASHINGTON, Aug. 24.-The an.
swer of the administration forces in
the house to the criticisms of the new
currency bill made by the conference
of bankers at Chicago yesterday, will
be tightening up of the lines and a
more vigorous Endorsement of the bill
as it now stands.
Informal conferences of Democratic
members of the house currency com
mittee today emphasized the fact that
the active supporters Of the President 8
currency plan expect to pass the meas
ure through the house without sub
stantial changes.
The amendments proposed by the
bankers, it was pointed out by house
leaders today, all were considered in
detail when the bill originally was pre-,
pared, and in the long debate over its
provisions in the house committee on
banking and currency. The proposal
to reduce the quantity Of reserves and
give country banks the privilege Of
keeping part of their reserves in the
large cities had many supporters, and
ultimately may be worked into the bill
in the senate, but the change is not ex-
pected in the house.
Bankers Will Be Heard.
The bankers will have an opportunity
to present their views openly to con-
gress after the currency bill gets into
the senate. Chairman Owen of the
senate currency committee, said today
that while hearings had not yet been
arranged, he expected leading repre-
sentatives Of the various "factions
amongst the bankers Of the country
would be invited to give their views of
the bill to the senate committee.
''I see great deal Of merit In the
proposal to reduce somewhat the guam
tity of the reserves said Senator
Owen. FWe have not discussed the
new legislation sufficiently in commit,
tee, however, to know what, changes
may be made in the bill.'
The fact that the leading bankers
held different views Of the effect of
the new legislation, particularly with
regard to the possible reduction of
loans and curtailment of credit, has
led members of the senate committee
to believe that further discussion of
the bill at open hearings would result
in winning the cooperation and support
of large portion of the banking fra.
ternity Of the country,
Supporting Wilson.
In the opinion of Democratic lead
ers, the last week has seen greater pro
gress toward united support Of Presi
dent Wilson's legislative policies than
any recent stage Of congressional ac
| tivity. The entrance Of Secretary
Bryan as the whole-hearted advocate
Of the administration currency bill, in
his letter read in the house caucus, the
united front presented by the Demo
cratic leaders Of the house against
amendments to the currency measure
assure support of the senate Demo
| Gratis
Few Of the changes advocated al
the bankers conference in Chicago viii
receive favorable consideration from
the Democratic forces in the senate
Chairman Owen is unalterably opposed
To the plan Of changing the fedora
board Of control so banking interest.
would have share in its management
or the creation Of a currency to bt
issued by the banks, instead Of by thu
federal government. It is believed Z
large majority Of the senate will ad
here to the plan for treasury notes
rather than notes to be issued by The
banks.