Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-12-31
DYING YEAR Big
WITH LEGISLATION
OF VITAL MOMENT
Congress, Which Takes Re-
cess Over the Holiday,
One of the Busiest in
Country's History.

WASHINGTON, Dec S1.-one of the
busiest legislative years in the history of
American Congressman ended today with
the recess of Congress over New Years
Day Except for a six weeks adjourn
ment, the national legislators were in con-
tinuous session from January II, 1914
until today. This statement would not
be fair if allowed to stand, however, with
out the further comment that prior to
January 12 Congress had been In session
continuously since the incoming of tho
Wilson Administration, March 4, 1918,
Perhaps the most important piece of
| legislation enacted during the year was
the law providing for the new banking
and currency system Creating from
! to IL regional reserve banks Qater fixed
| at 12) under the direction of Federal
| Reserve Board, and providing for the
| reserves of all the national and many
I of what had previously been State banks,
| TO be kept with the Federal banks, instead
| of with correspondent banks in central
| 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 dis
| counting OF commercial paper by the
| llSUlDeT DaIlRSt anu lIle lSSudllic VI ht"
| currency to cover this discountng by the
| reserve banks, provided what was thought
! to be n strong preventive of panics, and
| provided also sure remedy against tenn
| porary stringencies In the amount OF
| actual currency on hand, especially at
| such times as when the crops are moved.
ALASKA RAILROAD AND CANAL
TOLLS.
Another act of the year, that provid-
| ing for the construction of a railroad in
Alaska at cost of S35,00O,o00, anu lis
operation after completion by the Gov
ernment. was tremendously important
from two different viewpoints. 1t pro-
vided for the opening up for use by tho
people OF what President Wilson is fond
of calling that storehouse Of riches. In
cidentally, il Is rega. ded by some as
long step toward Government
OF all the railroads. Certainly, as it is
operated year by year, it will form at
least the basis of 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 eXemp-
tion clause for American-owned coast
wise 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 1t we're an American ship
in the foreign trade, or for that matter
a foreign-owned ship.
Two important measures OF the So
called antitrust program were enacted
during the year. One of these created
the Federal Trade Commission, which |
will exercise much the same sort OF
power over industrial corporations as Is
exercised over the railroads by the In |
terstate Commerce Commission, thus
bringing both sorts of companies under
Federal control.
BILLS THAT FAILED.
number of important bills were
passed by the House which were not en-
acted because of the failure of the Sem
ate to pass them. These include the i'm
migration bill. including the famous lit
eracy test which would restrict inmi
grafton, and modify the rules regarding
II to meet the opinion of a number of
authorities on immigration. Two of the
most important of the conservation bills,
that providing for the leasing of water
power sites now withheld from entry and
the general dam bill, were also passed
by the House, but not by the Senate dur
Ing the year, while one bill, the La Fol-
lette seamen's bill, passed both houses
6he Senate prior to this year. however,.
but in such different forms that no
agreement was reached during the year
between the two houses.
Congress passed resolution justfylng
the Presidents action in ordering an in
vasion of Mexico at Vera Cruz, follow
ing 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. providing for
ono year TO interpose after any overt
act before any hostilities should occur
were ratified by the Senate. The upper
House also received moro than 5000 noni-
nations from the President. and ratined
most of them.
There were bitter lights over many OF
them incidentally, especially Paul NJ.
Wnrburg and Thomas d. Jones, for the
Federal Reserve Board. the first of whom
was confirmed and the second withdrawn;
Attorney General McReynolds, TO be
Justice of the Supreme Court; John Skel-
ton Williams. to be Comptroller of the
Currency; Interstate Commerce Commits
sioner Daniels and Henry NJ. Plndell 10
be Ambassador to Russia.
WAR EMERGENCY MEASURES.
Some OF the most important pieces OF
legislation OF the year were those result
Ing from the European war, the war
emergency bills.
One Of these put the Government into
the insurance business. that providing
that the Government should write war
risk insurance when private corporations
would not underwrite business at reason
able terms. This has proved great
boon to shipping since the outbreak OF
the war Congress made two distinct APP
propriatlons to bring stranded American
citizens home from war-stricken Europe,
Another emergency war measure was
that sweeping aside the tariff duties and
other restrictions which had hitherto pre-