Aberdeen herald. [volume] (Aberdeen, Chehalis County, W.T.) 1886-1917, 1914-11-03
Its Two Sessions We're Marked by a Number OF
Radical Changes in Existing Laws The
Democrats in Control
new TARIFF ACT OF GREATEST MOMENT
Currency Law ;First Comprehensive Measure
Passed in Fifty. Years = Miscellaneous
Measures .of General Interest
BY ARTHUR w. DUNN.

oy Az TUX w. DUNN.
1--WE have enacted more important
legislation than any congress which
has assembled in years"
That was remark made by Hon.
Oscar W. Underwood, chairman Of the
ways and means committee and ma
jority leader of the house Of represent
atives, as the second session of the
Sixty-third congress was about to close
In letter to Mr.. Underwood. dated
Oct. II, President Wilson said:
II cannot let this session of congress
close without expressing my warm ad-
miration for the fidelity and intelli-
gence with which the program outlined
in April and December of last year has
been carried out and my feeling that
the people of the country have been
served by the members of this con
gress as they have seldom. If ever.
been served before. The program was
a great one, and it is a matter of deep
satisfaction to think Of the way in
which 1t has been handled
The two sessions marked an impOr-
tant political period. for it was the
first time in twenty years that the
Democratic party had been in control
OF all branches Of the legislative de-
partments Of the government. 1t may
be assumed that little will be done in
the short session Of congress, as every
effort will be made to pass all the ap-
preparation bills and avoid an extra
session next spring and summer. Con-
sequently the legislation Of the Sixty
third congress. unless emergency
arises. may be considered practically
closed.
Tariff Most Important Measure.
OF more Importance than all other
laws was the new tariff act passed at
the first session. The Underwood tar
If law is important because it estab-
fishes n lower rate Of duties than had
been known in half a century and ere
ates free list which Is more extensive
than ever proposed by any other Dem
ocratic congress since the civil war. 1t
has provided an income tax which Is
likely always to remain part of the
eminent. Practically the whole Of the
first session was devoted to the tariff.
although the house passed the curren-
cy bill. and it was under considera-
ton in the senate when the first ses-
sion merged into the regular session on
Dec. l.
New Currency Law.
The currency law when in compiet.
operation may become equally impor.
tant as the tariff bill. 1t is the first
comprehensive currency act that has
been passed in more than fifty years.
1t establishes what are known us fed
eral reserve banks under the control of
a federal reserve board. In fact. the
government has assumed the direction
of banking and under. the new law has
the power to provide IN elastic curren
cy bill and will have much larger SUI
pervision of the currency of the coun
try.
Just how farreaching the legislation
may prove to be no one at this time
can say. 1t has taken time to select
the federal reserve board and the eight
federal reserve banking cities and to
divide the country into reserve dis
tricts; consequently the new law will
allow greater latitude in the issue
of money by the banks and is expect
ed to afford Il better system and easier
method of obtaining loans on CONNER.
cial paper than have heretofore existed.
In connection with the currency law
bill was passed later which extended
for year the Aldrich- -Nrecland act in
order to meet Il possible money strin-
gency
Free Tolls and War Resolution.
An act that caused an acrimonious
discussion and threatened for a time
TO disrupt the Democratic party con.
tained but a few lines. 1t repealed the
provision for free tolls to American
ships passing through the Panama ca
nal. Long and earnestly the contest
waged, and much i'll feeling was dis
played
In spite OF the opposition of leading
Democrats. such as Speaker Champ
Clark and Majority Leader Under
wood. the repeal bill was passed,
enough Republicans In both houses
coming to the aid of the president to
insure a majority.
What mich. have been the most i'm
Qortant mea s'lN" Of the entire congress
was q short io,nt resolution authoriz
ing the pre- l-pf 10 make war on Mex
leo. Un,'er the ."rn's os t,.at rpsoIu
ton the p: " c'NCi. practicel
ly r., hnDd . t,;ih, " actioo
by ron &C Nr"e" vita n,
reSpoi ,.,I Na
ne"c@s q wnr HW"uIsf .f">.