The Detroit times., 1913-11-07
OPEN BREAK
EXPECTED OVER
CURRENCY BILL
Tension Between President and
Opponents of Glass Measure
In Senate Increases
MATTER MAY GO TO
MAJORITY CAUCUS
Confidently Predicted That In
subgent Element VIII BE
IA Voted Down

WASHINGTON. Nov. 6.--An open
break between the president and SEN
stors who are opposing his currency
plan was regarded as almost certain.
today.
Following conferences between GER
tain senator's who have had the con-
ftdence of the administration; 1t was
stated that the president has refused
to approve the radical changes made
In the proposed law by the combina.
ton of Republicans and Democrats
now In control of the senate banking
committee. II necessary the last wea-
pom available--a party caucus-wlll
be resorted to by the president. he
had long conference with senator
Simmons. today. Simmons led the
tight for the tariff bill in the upper
house. After leaving the president
he said:
Democrats cannot be expected to
accept and support currency plan
which 10 reported out OF committee
through a combination which gives
the Republicans the majority. And
any bill opposed by a majority of the
Democrats on the committee cannot
BE assured clear Shedding In the SEN
ate
The president Is reported to be con
siderably troubled over the apparent
open opposition of certain OF the Dem
ocratic senators TO his plan. He has
tried to influence these members to
stand for the original Glass-Owen bill,
but has tailed.
II was generally accepted. today,
that caucus OF the majority men,
bers OF the senate committee will be
called TO force the president ideas
through the senate Simmons admit
ted that this was being considered.
"Of course, we will have 10 act
said Simmons. but we Will wait a
few days to see what Is to be done
BY the combination now apparently
In control OF the committee"
Within hve minutes after Senator
Simmons left, Senator Thompson, OF
Kansas, conferred with the president
He also said that he believed that the
question should be submitted to eau
Gus.
The time has arrived when pa
thence has ceased to be a virtue"
said the Kansas senator. Il think
that this currency question il one
""A~" ShouAu NC Scttiou ny tie iud-
jority."
The, Aght In caucus would be led
by Senator Simmons. II was conf
IDENTIFY predicted, today. that the in
surgent' element In the party would
be voted down. five to one.
Senators Vardaman. Lane and Lew
Is also conferred with the president
on currency. Vardaman said he
thought the matter should 60 to a
party caucus. bit declared he would
insist on an open caucus.
Under provisions adopted into the
currency bill by the senate banking
committee today. 3l0O,0OO.OO0 worth
OF regional reserve bank stock. bear
ing either five or six per cent inter-
est, will be offered the public and the
banks themselves will be under abso-
lutte government control. The stock
will be offered the public for 60 days,
at the end OF which the uhsold bal
ance must be subscribed by the banks.
Despite a bitter fight by Senator
O'0orman the amendment removing
regional banks from control of men,
Der banks was adopted by the COM
mittee, Z to 5, only two Democrats.
Reed. OF Missouri, and Hitchcock. Of
Nebraska, voting for it. Under It's
terms the federal reserve board will
appoint six Of the nine regional bank
directors, instead OF only four.