The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1918-02-27
WAR AND RAIL
FINANCE TAKE
DAYS SESSION
Congress Slowly Works Toward
Solution Of Larger War
Problems
RATE POWER IN DOUBT
Resolution Leaving Rate Fixing
to Commerce Commits
sion Fails
RATE POWER 'l' IN DOUBT

p washing LOll, -. W, Ecu. ~ =" HAAS
the senate was beginning debate to-
day on the administration bill to Gre
ate war finance corporation with au-
thorized resources Of $4,5OO,0 100000, the
house continued to make slow pro-
gress on the administration measure
governing federal control of the rail
roads. Indications tonight were that
both bills would be passed Thursday.
Alien Stacker Bill Up.
The alien Stacker bill is a special
order in the house tomorrow and as
unanimous consent to continue con-
sideration of the railroad measure
was refused, the latter measure Will
go over until Thursday. After voting
down an amendment to reduce the
railroad revolving fund from $780,
100000 to 5000, 100000, the house spent
the entire day debating the section
giving the president rate making au'
thority. A final vote was postponed
until Thursday, when Representative
Sweet of Iowa had called for tellers
after a rising vote was counted, 80 to
80 against an amendment to leave
rate fixing power to interstate COM
merce commission.
Simmons Champions Measure.
In opening debate in the senate on
the finance corporation bill, Senator
Simmons, of North Carolina, chairman
of the finance committee, said the
legislation was necessary because the
government must control the money
market in order to finance the war.
He denied that the measure would
cause imitation of currency. ..a*
With assurances of bipartisan sup
port, Chairman Simmons, expects the
senate to pass the measure probably
Thursday, and certainly by. the end of
the week. Consideration Of it in the
house is to begin Immediately after
the railroad bill is passed, the house
ways and means committee now being
at work on the measure with prospects
of an early report. r.ar, ,.'....i.s =
Wants Uninfiuenced Members.
Some revision of the measure is ex-
pected in both the senate and house.
Senator Hale, of Maine, republican,
introduced an amendment requiring
the corporation to make monthly re-
ports to congress and Senator Hollis,
of New Hampshire, democrat, declar-
ed he would oppose the provision au.
thorizing the corporation to issue $4,.
100000 in bonds and would insist that
directors of the organization have no
personal connection with any financial
institution.
In urging the bills importance, Sen
ator Simmons said there is today alb.
solutely no market to which industrial
corporations can 60 for capital to pro-
vide for engagements or to take care
of maturing obligations.
=. Capital Would Not Object.
Senator Kellogg, of Minnesota, repub
lican, said that when the finance com
mite was considering the measure the
only representatives of industry to ap
pear were officials of public utilities
corporations. In admitting this. Sena
tor Simmons suggested that from this
fact it was to be assumed that there
was no objection to the bill in the
business and industrial world Sen.
ator Kellogg replied that it was com
monty known that representatives OF
broken down public utilities corpora
lions have been hanging around Wash
ington for weeks, asking for govern
ment assistance"