The Barre daily times. (Barre, Vt.) 1897-1959, 1913-10-09
CURRENCY BILL
TO GO THROUGH.
The Democratic Opposition
in the Senate Is
Giving Way
VANDERBILT BEFORE
THE COMMITTEE
President Wilson Denies
Calling Democrats OPP
posing Bills Rebels

Washington, Oct. 9.--That President
Wilson has practically won his fight to
force a currency bill through the Senate
at the special session was declared yes
terday in quarters close to the adminis-
tration. Democratic opposition is be-
ginning to give way.
The president is insisting that the
bill be reported out OF the committee
before Nov. /, and expects it viii be SO
reported; but the opposition think it
will be Nov. 10 at the earliest.
Within the last few days the presi-
dent has been putting the screws down
on Democratic senators who are opposed
to the bill. 1t is averred in admini5tra
ton quarters that the policy being pur-
sued is one of persuasion and that The
big stick is not being used. Neverthe-
less, strong pressure is being exerted on
the recalcitrants.
The president made public the follow
ing letter:
TO the editor of the Washington Post:
Sir; ! am quoted in your issue Of
this morning as saying that any one
who does not support me is no Demo-
crat, but a rebel. OF course, never said
any such thing. 1t is contrary both to
my thought and to my character, and L
must ask that you give very prom
inent place in your issue of tomorrow to
this denial.
Every truly yours,
Woodrow Wilson"
The White House is expecting most
of the reealcitrants in the Senate among
the Democrats to line up for the bill.
The support of both O'Gorman and Reed
is looked for by the president. This
support would strengthen his hands ma
terially.
Thus far it has not been determined
by the Senate leaders to call a Demo-
cratic caucus on the bill. Senator Kern
hopes to avoid one, feeling that it might
mean fatal split in the party in the
upper house.
1t has become clear that the president
intends, ii it seems necessary. to carry
the war to the limit on the Democrats
who insure on the measure.
Reports that the White House is
going to make use Of 'lobby" talk to
help along the bill is in part based on
the fact that the president has told call
ers the opposition is inspired by big
banking interests.
Frank Vanderlip, president of the
City bank of New York, ap-
pcared before the banking and currency
committee to-day. While criticizing the
various features of the administration
bill and urging amendments,
he commended Others He made the in
teresting statement that the bill "will
not decrease New Works financial SUI
premacy. T. viii be a very important
factor to increase it, Interest rates will
not fiuctuate so much, and New York
will become an international banking
center"
Mr.. Nanderlip said the readjustment
If reserves would be trying, and added:
Few banks will probably suffer as
much as the National City bank, which
will likely lose S50,0O0,000. If my oh
ections to the bill were selfish they
would certainly be aimed at this feature,
)ut they are not"
Mr.. Vanderlip said the bill would
minimize the Importance of the call loan
market and turn hundreds of millions
rom call loans into commercial chan
lels. 1t would lessen, if not entirely re-
luce, the advantage which borrowers
IN stock exchange collateral have over
borrowers.