The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-08-24
They Agree Upon Import
ant Amendments to Cur
rency Bill; Express Belief
They Can Convince.
CHICAGO MEETING
REPRESENTATIVE
F Financiers From All Over the
Country in Complete Har-
mony Over Needs in Mat
ter of Currency.

CiICAGO, Aug 23.-Bankers from
all parts Of the country at the end of
two days conference here today
agreed on number Of important
amendments to the OwenGlags cur
rency bill now pending in congress and
appointed a committee of seven to 20
to Washington and endeavor to have
the changes incorporated in the meas
ure, Members Of the conference OK.
pressed the belief that the administra-
tion forces in Washington will be con-
vinced by the arguments they will pre-.
sent and modify the bill so that it win
be reasonably satisfactory to the bank
ing and business interests Of the coun-
try.
The amendments were presented to
the conference by n committee on res
olutions and were adopted after q
lengthy discussion by unanimous
vote. The committee went through the
currency bill section by section and
recommended more than a score Of
changes.
Committee Appointed.
On motion of Luther Drake Of Oma-
ha the following committee was named
by Chairman Hepburn of New York to
go to Washington and present the rec
concentrations Of the conference to
President Wilson, Secretary Of the
Treasury McAdoo and congress:
James B. Forgan, Chicago, chair
man; George W, Reynolds, Chicago;
E J. Hill, Norwalk, Conn; R. f. Mad
do1, Atlanta; Sol Wexler, New Or.
leans; Joseph Chapman, Minneapolis,
and Festus J. Wade, St. Louis.
The committee will 20 to Washing
ton in few days to begin its work.
Meeting Impressive.
"The conference which closed today
was perhaps the most representative
gathering Of bankers ever held in this
country" said George NJ Reynolds to-
night, land after a thorough consid-
Grafton Of the subject we have agreed
unanimously on what we think the
country needs in the matter of cur
rency and banking legislation. The
resolutions, which were adopted after
much discussion, are n diguifed, cour-
teous and conciliatory statement of
what we think is desired and we ear
nestly hope and believe that many of
the notifications recommended will be
adopted before tho final draft OF the
new currency bill is completed. L am
greatly pleased with the result of the
conference and feel certain that much
good will result from the meeting, 1
believe the representatives of the gov
ernment Will be glad to receive the
suggstions we have to Offer
Text of Resolutions.
The resolutions adopted at the con-
ference read ms follows:
The currency commission of the
American Bankers associa ton,
charged with the duty OF endeavor-
Ing 10 secure remedial banking legis-
lation. and regarding the banking
measure now pending IN congress as
rnlnistrR uon TO give q wise law 10
tho country. has profoundly desired
to cooperate In every way. To this
end. upon its invitation, thnt tho
presidents OF the forty-seven state
bankers associations and ell repre-
sentatives OF the l91 clearing houses
attend and unite In an expression,
this joint body. composed of bankers
from every section OF the south and
north from coast 10 coast, represent
ing country and city banks, state and
national and trust companies after
carefully considering the bill. has
adopted the following;
Recognized Principles.
whereas, We recognize the I'm
perative necessity OF Incorporating
into the ba mixing and currency system
OF this country those proven princi-
pies which Will provide the most am
pie credit facilities with greatest
safety and u currency based on gold
which automatically adjusts It's VOL
ume to trade requirements IN order
that the highest stability may be at
tained for our commerce, thereby as
suring continuity OF employment for
the laborer and favorable markets for
the producer. the fundamental basis