The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-11-12
DEMOCRATS WILL
ADVISE TOGETHER
Conference on Currency To-Day
Not to Be in Any Sense
Binding Caucus.
EFFORT TO MAKE 1T PUBLIC
Another Turn to Question Given
by Bill introduced by John
Sharp Williams.
EFFORT TO MAKE 1T PUBLIC
Especial to The Times-pispatch,1 !

lcpCCidi 10 inc lin ifneS-DtSpdlCh,l
Warrington. November 11.-Deter-
mined that the Senate Committee on
Banking and Currency shall take no
further steps in the direction Of amend
Ing the administration currency bill
until after the Democratic caucus has
registered its decree. administration
Senators to-day forced an adjournment
Of the committee.
The committee met with tho rcsolu-
tion OF Senator Shafroth for eight rer-
ional reserve banks pending. Senator
owen, having returned to Washington,
was present. Senator'S Pomerene.
Shafroth and Hollis, who for several
days have been preparing a report for
the caucus and bill amended as they
believe it should bo brought back into
senate, remained closeted In their pri-
Vate room at this work and declined to
attend tho committee meeting. When
Chairman Owen saw that these SEN
ators did not attend he declined to
iurther participate, and the committee
agreed TO adjourn until Thursday morn
ins. Meanwhile, Republican members
continued work on their own bill.
which is TO be submitted as a substi-
tue Tor the administration measure
"hen the fight comes mp In the Senate.
Call for Caucus.
The Democratic conference will ha
neld Tomorrow afternoon Senator
Kern issued the call to-day This call
specifically states that the conference
Is to he merely advisory, the caucus
chairman explaining that it was not
TO be In any sense binding caucus.
In an authoritative statement. Chair
man Kern said:
The purpose of the conference Ia
TO give the Democrats an opporttlnitv
10 advise together regarding currency
legislation. particularly in view of tho
deadlock over important features OF
the currency bill. which now exists in
.he senate committee. The Democrats
cannot talse the currency bill into tho
senate as IN unorganizcd mob. All
struggling for various amendments
we must have some concerted action,
some senator's have urged that the
caucus he opened to the press hut
chairman Kern made it plain this
would not be permitted. Several SEN
ators explained that an open discussion
might prove embarrassing 10 certain
senators, who have elections on their
hands. Senator Vardaman said he
would strongly oppose holding the
conference behind closed doors. He
did not believe anything should be
urged or advocated in secret that
could not be fought for out in the
open. The Mississippi Senator de-
ciared that he would not be bound by
the action OF any secret caucus.
New Turn 10 Question.
Another turn to tho question was
given to-day by the introduction by
John Sharp Williams OF a bill pro-
viding for Federal guarantee OF ma
tional bank deposits. The bill makes
All assessment OF one-half par cent
OH all deposits TO create nm Insurance
fund and q tax of one mill on each
dollar OF deposits to constitute n
premium fund. Tho proposed legisla
ton also provides that deposits in any
bank may not exceed ten times the
capital stock OF tho bank Another tax
In the shape OF an annual assessment
OF Ia OF / per cent OF the average
yearly deposits is provided for after
the system shall become established.