Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1913-12-20
AUTHOR or HoUsE MEAeuRE
eEEe Cal AAAl1r IN ALTERATION
olass Deelarso observation-disclosures
FsaAueo % Dangerous and That Bank
Reserves Clause Would Bring About
wild jnAatlon % Curreney-Wilson
Wants DilI Fes National Git.

Attempts 10 concur In the senate
amendments were defsated 29l to 50.
A group o1 middle-wsst democrats
made . futile dsht to accept the sen
ate provisions for guarantee Of de-
posits, rediscounts Of SIX months Of
ag4cuitural papers. ana nve-year farm
mortssge loans by.national banks
With the house in disorder Republi-
can Leader Mann moved to instruct
the house conferes to disagree in the
senate amendment ana agree to the
Hitchcock blu" rejected by the senate.
A parliamentary wrangle ensued and
another rou call was ordered.
Majority Leader Underwood closed
the debate, declaring the bill should be
sent to conference.
Fight Over Insurance Feature.
The fight In the house developed a
movement to insure retaining the sem
ate amendment for the guarantee OF
bank deposits.
Representative Glass DECLARED the
enactment Of the measure into law al
It came from the senate would be
-calamity."
Il want the bill sent to conference =
he said, because am convinced that
as the bill has been completed by the
senate It would not be a workable Jaw"
He pointed out several provisions In
the senate amendment which he sold
condicted.
Bank Rsssrvss Attacked.
d Mr.. Glass attacked the bank reserve
requirement - amended.
.Under this provision" he said. the
total reserves Of the bank In the gys-
tan both IN cash and Of credit with
the reserve banks would be less than
they ara with the present holding Of
cash. within q few months with these
provisions we would have a saturnalia
Of expansion. Of wild imitation"
He declared the senate guarantee
provision. was ~mere pretense."
There are things in this bill which
would bring calamity to this country
and they ought not be allowed to be-
come law" ne declared.
washington. Dec. 2o.-F1nal work OF
preparing the administration currency
bill for President Wilson's signature
was begun today when the house and
senate conference met to compose diff
ferences between tho "Owen substi-
tute." az the measure was known as 1t
passed the 4enate. and the Glass bill.
which was the administration bill IN
the house.
Senators owen, Reed, o'Gorman.
Pomerene. shafroth and Hollis. DEM
I ocrats, and Senators Nelson. Bristow
and Crawford. republicans. will repre-
sent the senate in conferences
Chairman Glass, Of the house bank
ing committee. who was sponsor for
the bill In the house, will head the
house conferees. which will include
Representatives Korbley and Hayess
An effort will be made to agree on q
report which both houses can accept
so that the bill may be finally en-
crossed and taken to the White House
to become q law Tuesday.
Points Of Difference.
The principal points Of difference
which must be agreed on OF compro-
missed are the number Of reserve banks,
age Of gold reserve, the length Of time
and the time limit of mortgages on
which national banks shall be per-
mitted to make farm loans
Democratic Leader Underwood in
the house sees no serious points Of DIFF
ference in the two bills. The guarantee
Of deposits, inserted by the senate, IL
practically the only change, in funda-
mentals. All the changes made by the
senate are understood to be agreeable
to President Wilson.
Christmas Prsssnt 20 Nation.
A. ono administration official put
1t today the plan is to have the pres
ident sign the bill before Wednesday
80 II may become Christmas present
for tho American people.
s8s When the bill becomes law President
Wilson will be confronted with taking
i the drst steps in putting 1t into effect.
That Will be the appointment Of the
federal reserve board Of seven MEM
bsrs who will make all arrangements
for the transition from the present cur.
rency system to the new one. The
president has made no selections but
y viii consider tho question carefully
during his vacation.
Strikes 8nas In Conference.
On its way to conference the bill
struck 9 snag in the house, where q
dght over the number OF conferes and
! the question of sererate vote OF
some Of the amendments caused a
Z Tdeiay.
Representative Glass asked unan-
irIlous consent to tli.agree to the SEX
ate amendments ana send the bill to
conference. Eaxdwick, Of Georgia. and
: Maiden, Of Illinois. contended that the