Evening journal., 1914-12-31
YEARS WORK IN THE
NATIONAL CONGRESS
Currency Act the Most I'M
,,orfonf 7 on.e1ot.o., n....,o.
pUI tdiit IOS SIoidlIUil Dul lily
the Term
TARIFF DUTIES
ARE HIT HARD
BY The United Press.

history of American Congressmen
ended today with the recess Of Con-
gress over New Years Day. Except
for a six weeks adjournment the
national legislators were in con
tinuous session from January -,
1914, until today. This statement
would not be fair, II allowed to stand
however. without the further COM
ment that prior 10 January 10, Con-
gress had been IN session continu-
ously since the incoming of the VIII
son administration. March 4, 1913.
Perhaps the most important piece
Of legislation enacted during the
4 year was the law providing for the
new banking and currency system
/ Creating from s to 70 regional re-
serve banks Oator fixed at 12) under
! the direction of q Federal Reserve
/ Board, and providing for the reserves
| Of all the national. and many Of what
! had previously been state banks, to
be Kept with the Federal banks. in
stead OF with correspondent banks
in central reserve cities. as pre-
/ viously, this was probably the most
! radical reform in the currency system
/ Of the country ever put into effect
| commercial paper by the member
banks, and the issuance of new cur
/ rency TO cover this discounting by
/ The reserve banks. provided what was
! thought TO be q strong preventive
| Of panics. and provided also sure
remedy against temporary stringen-
cies IN the amount OF actual currency
on hand. especially at such times as
] when the crops are moved.
Another act Of the year. that pro-
viding for the construction of a rail-
/ road in Alaska at a cost of $4,000, ,000
and its operation after completion by
/ the government, was tremendously
important from two different view
/ points. II provided for the opening
up for use by the people, OF what
| President Wilson is fond of calling
that storehouse of riches. Incident
ally, IL is regarded by some as a
long step toward government owner
ship of all of the railroads Certain
/ ly. as it is operated year by year, 1t
will form at least the basis of a
comparison with the privately owned
railroads in the United States
One Of the bitterest fights of the
year was over the repeal of the tolls
exemption clause for American own
ed coastwise shiDs passing through
the Panama Canal The passage of
this act means that every coastwise
ship passing through the big ditch
will have to pay its way, just as
though II were an American ship in
the foreign trade, or for that matter
a foreign owned ship.
Two important measures OF the
| so-called Anti Trust program were
enacted during the year. One OF
/ these created the Federal Trade Com
mission. which will exorcise much
the same sort of power over indus
! trial corporations as that exercised
over the railroads by the Interstate
! Commerce Commission. thus bring
! ing both sorts of companies under
Federal control.
A number Of important bills were
passed by the House which we're not
enacted because of the failure OF the
| Senate TO pass them. These include
the immigration bill, including the
famous literacy test, which would
restrict immigration. and modify the
rules regarding Il to meet the opinion
of "a number of authorities on immi-
/
| of the conservation bills. that pro-
viding for the leasing Of water power
sites now withheld from entry and
/ the general dam bill. were also pass
! ed by the House but not by the Sen
ate during the year, while one bill,
tho La Toilette Seamen's bill. passed
both houses (the Senate prior to this
year however, but in such different
forms that no agreement was reach
ed during the year between the two
houses.
Congress passed a resolution JUS
tifying the Presidents action in or.
dering an invasion of Mexico at Vera
Cruz following tho insult 20 the
American dag at Tampico by soldiers
directly responsible TO Huerta, al
that time dictator Of Me' leo.
Twenty six peace treaties, most o
them the breathing spell variety
providing for one year to interpos'
after any overt act before any hos
tilities should occur. we're ratified 10y
the Senate. The upper house als'
received more than 5000 nomination.
from the President. and ratified mos
of them.
There were bitter fights over man,
of them. incidentally, especially, Pau
NJ. Warburg and Thomas ID. Jones
for the Federal Reserve Board tn
drst of whom was confirmed and In
second Withdrawn; Attorney Gen
cral McReynolds to the Justice @
the Supreme Court: Johr Skcltol
Williams 10 he comptroller Of IN
currency: Interstate Commerce Com
missioner Daniels and Henry N
Pindell. to be ambassador 10 Russi;
some OF the most important piece
of legislation Of the year we're thos
resulting from the European war, th
war emergency bills
One of these put the governmer
into the insurance business. ths
4 providing that the government shoul
write war risk insurance when pr
vate corporations Would not under
write business at reasonable term
This has proved great boon to shil
ping since the outbreak Of the wa
Congress made two distinct appr'
IN priations to being stranded Amer
can citizens home from war stricke
I'm Europe
Another emergency war measul
was that sweeping aside the tari
sc duties and other restrictions whiC
had hitherto prevented the placin
of foreign built ships under II
lii American flag. The same measul
IN also lodged with the President dii
cretion b waive the restrictions r.
he garding all the officers of such shiI
m. being American citizens. thus layin
the foundation during the war for d
American merchant marine. whiC
would carry American produc