Evening star., 1914-10-10
PLANNING TO MEET
COTTON EMERGENCY
Probable New Line of Pro-
cedure in House in Fight
for Legislation.
CALL MADE FOR MEETING
OF RULES COMMITTEE
Compromise Possible Over PROPOSE
ton to Give Precedence to Federal
Reserve Law Amendment.

A meeting of the rules committee of
the House has been called for this after
noon, and a new line Of procedure In the
fight to establish cotton emergency cur
rency legislation may be the result. It
is understood that the committee will re-
port out a rule to make Immediately
privileged the Senate bill amending the
federal reserve act, which will allow fed
eral reserve banks a greater freedom in
extending credit. This bill authorizes the
member banks to deposit their reserves
in the twelve regional reserve banks in
stead of keeping large amounts in their
own vaults. and in this way concentrates
gold in big banking centers instead of
scattering it all over the country. The
south, ,itsh has been estimated, will benefit
by SSoe, ,000, 900, and it is claimed by
many conservative House members that
this would go a long way toward settling
conditions in the south.
Leaders in Clash.
However, there has been a row be-
tween Representative Henry Of Texas
leader Of the cotton cash" dlibuster. and
Representative Glass. chairman Of the
banking and currency committee That
committee tabled Representative Henry s
cotton cash bill and Mr.. Henry has not
felt inclined to go out Of his way to
help bring in q rule to make the federal
reserve amendment bill privileged, al
though it Is an administration measure
and the federal reserve board has counted
more or less on Representative Glass in
getting 1t through. 1t Is now rumored
rule for the federal reserve act amend
ment with the privilege Of offering
amendments to the bill.
If this is adopted by the House, then
lowers will offer the latest bill Of the cot
ton belt democrats as an amendment
This bill is the measure indorsed by
several members from cotton producing
states and authorizes the issuance OF
100000 emergency currency to be
loaned to cotton and tobacco producers
| at per cent interest.
Embarrassing to southerners.
The cotton cash proposition is becom.
ing exceedingly embarrassing to many
| southern democrats, who hate to see the
| matter come to vote at this time The
situation as explained by a conservative
| southern member of considerable weigh,
in the House is as follows:
1T is ticklish matter. A vote
against the bill may be misunderstood
led to believe that the Henry bill will
| save them from distress. The latest
bill. Endorsed by the cotton conference
a few days ago. has moro elements OF
| soundness than the first one. but it il
not a sound bill at all. However. many
people in the south do not understand
1t and they think southern members
all ought to vote for it."
Another Commodity Suggested.
A southern democrat who Is in favor
of the cotton bale cash idea has q
young woman from Connecticut in his
office acting as his secretary. After he
| had dictated to her speech on the
subject, he asked her what she thought
of it.
| "If Congress passes a law allowing
currency to be based on cotton in the
SOUTH she said. my congressman
from Connecticut ought to insist upon
a law to issue emergency notes upon
hairpins. You know Connecticut makes
all the hairpins in the world and many
Of the hairpin factories have been
closed on account of the war In
Europe"