Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1913-12-12
DEBATE STILL
WAGES IN The
senate
CAUCUS IS ASSALED BY REPUB-
LICANS AND IS AS VIGOROUSLY
DEFENDED BY NEWLANOS OF
NEVADA and OTHERS B0RAH
OPPOSES The BILL.
PRESIDENTS BOOK
and ACTIONS DISAGREE

Washington, d. c., Dec PA Wig
orous defense of the Democratic eau
Gus as the only method of carrying
party promises into effect marked the
opening of the currency debate today
in the senate. Replying to the severe
arraignment of the caucus made last
night by Senator Hitchcock, who diff
fers with his Democratic associates
on currency legislation Senator New
lands declared the caucus was the in
strument by which administration
measures" representing the results OF
the party counsel, could be made eff,
fective.
Senator Borah, Republican, of Idaho,
assailed the administration bill vigor'
ously. He read from a speech by
George NJ. Reynolds, Of the Continent
al and Commercial National Bank OF
Chicago, quoting Reynolds as having
said he was zone of twelve men who
controlled the finances of the coun'
try" 1t is into the hands OF these
twelve men who now control the
banking facilities of the country, that
the senators now propose to place the
control of the issue of currency, de-
clared Mr.. Borah.
The final assault on the detailed pro-
visions of the administration currency
bill was begun in the senate last night,
Senator Hitchcock, Of Nebraska, lead
ing the attack. In a lull in the flood
Of currency oratory which has occu'
pied the senate day and night for
nearly two weeks. Senator HitchcocR
began the presentation of his amend
ment to the bill, declaring in a dra'
matte speech that he declined to con
slider the measure completed by the
Democratic caucus as unalterable.
Senator Hitchcock quoted from
President Wilson's book, "The New
rreedo1n1- sno@ that the presiasns
was on recoru against CauUus anu
committee legislation and was in fa
yor OF consideration of reform meas.
ures lin the full light of publicity
Il have no purpose to delay the
consideration of the BILL said Sen
ator Hitchcock "but deplore the
tendency of senators on both sides OF
this chamber to regard this bill as
foreclosed to amendment by action OF
the Democratic caucus. The president
has proclaimed time and again that
discussion in public was above all
things the most important consld'
Grafton in legislation"
Senator Gallinger, the Republican
leader, suggested that the president
had approved of the caucus on the
tariff bill, and had also approved the
caucus on the currency bill.
"I doubt that" said Senator Hitch
cock emphatically. II shall not be
lieve until hear the votes cast here,
that men who have assured me that
they would not be bound against their
convictions by any caucus, will stultl-
fy themselves and come in here to
vote against the things in which they
believe"
The Hitchcock amendment to sec
tion two of the bill, would provide for
the organization of four regional re-
serve banks instead of eight or twelve,
and for the sale of stock in the re-
gional banks by public subscription
underwritten by the banks.
Senator Stone assailed the positions
taken by various bankers organiza.
tions toward the bill. He charged that
the conference of bankers at Boston
and Chicago, which proposed substan.
tial changes in the plan, were CONTROL.
ed by the 'Wa1l street group" and
mentioned A. Barton Hepburn as the
moving spirit of both conferences.
"The great banks" he said, "have
built up great financial oligarchy
which we propose to destroy by this
bill"