The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1914-12-31
CONGRESS ENDS
BUSY YEAR TODAY

y
history OF American congressman end
ed today with the recess of congress
over New Years day. Except for a
six weeks adjournment, the national
Legislators were in continuous session
form January IL, 1914, until today,
II is statement would not be fair, if
a,lt wed tc stand, however, without
tho further comment that prior to
January 12, congress had been in ses-
SIGN continuously since the incoming
OF the Wilson administration, March
4 1913
Perhaps the most important piece
Of legislation enacted during the year
yeas the law providing for the new
ba' king and currency system. Great
.rg from. eight to twelve regional re-
serve banks cater fixed at 12), under
tie direction of a Federal reserve
!! oard, and providing for the reserves
If all the national and many of what
had previously been state banks, to be
kepr with the Federal banks, instead
cf with correspondent banks in cen
tral reserve cities, as previously, this
was probably the most radical reform
in the currency system of the country
ever put into effect, The provision for
the discounting of commercial paper
b. the member banks, and the issu-
arte of new currency to cover this
diseountirg by the reserve banks, pro-
vidcd what was thought to be a
s'song preventative Of panics, and
provided also sure remedy against
temporary stringencies in the amount
of sctual currency on hand, especially
at such times as when the crops are
ne we'd
hnotl er act of the year, that pro-
ro1d in Alaska at cost of $35,000,-
G1p. and its operation after compile
tion by tie government, was tremen-
coSslv important from two different
v.rwpoipts 1t provided for the open
i & up for use by the people, of what
President Wilson is fond of calling
that stcrehouse of riches. Incidental
~, it i regarded by some as a long
;.np toward government ownership of
all of the railroads. Certainly, as il
IS operated year by year, it will form
at least the basis or 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
esq mpt;on clause for American owned
coastwise ships 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 it
were ar American ship in the foreign
t,see, or for that matter foreign
ov red slip.
Two important measures of the so
called antitrust program were enact
ed during the year. One of these
created the Federal Trades commits
sion, which will exercise much the
same sort of power over industrial
corporations as that exercised over the
railroads by the Interstate Commerce
Commission, thus bringing both sorts
Of companies under Federal control.
A number of important bills were
passed by the house which were not
enacted because of he failure of the
senate to pass them. These include
the immigration bill, including the ia
nous literary test, which would re-
strict immigration, and modify the
rules regarding it to meet the opinion
Of number of authorities on immi-
graz +'on. Two of the most important
OF the conservation bills, that provid-
ing for the leasing of water power
sites now withheld from entry and
the gennral dam bill, were also passed
by the house but not by the senate
d, ring the year, while one bill, the
La Toilette seamen's bill, passed both
houses (the senate prior to this year
howeve,). but in such different forms
tlat no agreement was reached during
the year between the two houses.
Congress passed resolution justi-
tifying the presidents action in or
dering an invasion of Mexico at Vera
Cruz following the insult to the
American flag at Tampico by soldiers
directly responsible to Huerta, at that
time dictator of Mexico.
Twenty-six peace treaties, most OF
them the breathing spell variety, pro
viding for one year to interpose after
any overt act before any hostilities
should occur, were ratified by the sen
ate. The upper house also received
more than 5000 nominations from
from the president, and ratified most
o. them.
| There were bitter fights over many
ef them, incidentally, especially Pau
M. Warburg and Thomas d. Jones, fol
the Federal reserve board, the firs'
of whom was confirmed and the sec
ond withdrawn; Attorney Ge aera
McReynolds, to be Justice of the Su
preme Court, John Skelton Williams
to be comptroller of the currency, In
terstate Commerce Commissioner Dan
iels, and Henry M. Pindell, to be am
basasdor to Russia. Some of the mos
important pieces of legislation of th'
year were those resulting from th'
European war-the war emergene.
bills.
One of these put the governmen
into the insurance business, that pro
viding that the government shoul,
write war risk insurance when priv
ate corporations would not underwrit
business at reasonable terms. Thi
has proved great boon to shippin
since the outbreak of the war. Cor