New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-08-20
Head of Senate Banking Com
mittee Declines to Support
Some of Its Features.
TEMPORARY ACT PROPOSED
Growing Disposition in Senate
to Postpone Consideration OF
Administration Plan
Until Winter.
From The Tribune Bureau.

Washington, Aug. 19.-More breakers
doomed up in the course of the admins
tration currency bill to-day, when the
Democratic members of the Senate Bank
ing and Currency Committee met to lay
plans TO comply with the caucus mandate
to pass some kind of legislation at the
present session Of Congress
Recalcitrancy appeared in the most UNI
expected quarter. Senator owen, chair
man of the committee. who has hereto
fore stood by the Wilson-Glass-M cAdoo
BILL declared there were some features
Of the measure which he could not APP
prove He objected specifically to the
provision compelling national banks TO
take stock I'm the regional reserve banks.
on the ground that the government was
without authority to enforce II.
There is a strong disposition among the
Democratic members Of the committee.
and In the Senate. to postpone considera-
ton OF the administration currency bill
for the present and to pass n temporary
measure Senator owen pointed out to-
day that he had introduced bill Of TWEEN
ty-fve lines several years ago which
would solve the problem by giving the
Secretary Of the Treasury authority 20 Is
sue Treasury notes on commercial securi-
~ \ bill introduced by Senator Lea
paving the way for the establishment OF
voluntary currency associations Is also
under consideration.
II the President agrees TO the passage
OF a temporary measure, there is little
doubt that the Senate will act promptly
In passing a bill OF this character. leav-
ing the proposed administration measure
10 be considered at the regular session or
Congress The prediction was made fiat
~ by Democratic members OF the Bank
ing and Currency Committee that the
bill now under consideration by the House
cannot be passed at this session. The
White House. however. is insistent that
1t shall.
Senator owen approached Che currency
question to-day By taking Republican
members Of the committee into his con-
fidence and assuring them that IL was
his desire 10 consider the subject from a
non-partisan point OF view. IL Is Mr..
owens purpose after the Democratic
members OF the committed have thrashed
out their differences and arrived at some
sort OF conclusion az 10 what should be
done and how the desired results can best
be accomplished. 10 ask the Republican
members 10 meet with the Democrats In
perfectinR a measure.
Senator Hitchcock. OF Nebraska, is also
outspoken In his opposition TO the passage
OF the administration currency bill at the
present session. and Senators OGorman
and Reed. also members OF the committee.
are much Of the same mind. With the de-
lection of Senator owen. II is certain that
the President viii find IL somewhat difh-
cult TO force the Senate Committee into
line. even II the House passes his mea-
sure
Representative Eagle. Of Texas. insur-
gent member Of the House committee, In
troduced to-day az substitute for the
administration currency bill measure
10 provide 10000 OF United States notes,
TO be deposited by the United States with
national banking associations undor GER
tain stipulated conditions.