The Washington herald., 1918-03-08
War Measure Passed with
Minor Amendments by
Vote of IA to 3.
FOUR BILLION CONCERN
New Company Will Lend
Money to Firms Supply
ing Munitions.

The War Finance Corporation
bill was passed by the Senate yes
terday by a vote of "a to 3. Sena-
tors Harding. of Ohio; Hardwick,
of Georgia. and Sherman. of I'LL
nois. voted against it. Senator
Owen. of Oklahoma, announced
that he would have voted for the
bill, if his ballot had been neces-
sary to pass it. but that as he was
generally opposed to the measure
he refrained from voting.
WILL AID NEW CONCERNS.
The bill carries an appropria-
ton of $4,000. 900, 900, and is one
of the most important features in
the war program of the administra-
ton. The corporation will have
the power to lend money to all in
dustries connected with the busi-
ness of furnishing supplies to the
government for the prosecution of
the war and these sums will be
voted by board of directors nom
mated by the President and con-
6rmed by the Senate:
To EIImInate Prohteers.
In this way it is planned to elimi-
nate the profiteering charge against
various firms which obtained con-
tracts for government work soon
after the United States entered
the world war.
Two important votes were taken
during the day besides the final de-
-eision. One of these was an amend
ment by Senator Owen providing that
the Senate must confirm the appoint
nents of the men the President selects
for the capital issues committee or
the corporation.
The Owen amendment provides that
the President shall appoint the mem
bers Of the Capital Issues committee,
but that the appointments must Je
cosfirmed by the Senate.
Those voting for the amendment
were:
Democrats - Fletcher, Henderson,
Hollis, Kendrick. Kirby. Lewis. MI
Kellar. Nugent. owen, Phelan, Pomv-
rene, sheppard. Trammell, Under
wood. Yardaman, Walsh, woIcott, IL;
Republicans-Baird, Borah, Curtis,
Fernald. France, FreIinghuysen,
Gronna, Hale, Jones. Of Washington.
Kenyon. Mclean. McNary. New, Nor =
ris, PoindeXter, Sherman. SteriInA,
Sutherland. Townsend. wadswortn,
20; total. 81.
Those voting against the amend
ment were:
Democrats - Bankhead, Beckham,
Gerry. Gore, Hardwick, johnson, OF
south Dakota, King, Martin, Over
man. Pfttman, RansdelI, SALISBURY,
ShafrOth. Shields, simmons. Smith. of
Arizona, Smith. of Maryland, Smitm,
of South Carolina, Stone. Swanson,
Thomas. Tillman, WilIiams, q; ks-
publicans-Calder, Dillingham;, Hard
ing. Kellogg. Knox. Lodge. McCum-
Der, Nelson, Page, Smoot, Warren,
Watson. y; total. IS.
The significance Of this vote was
the insistence of the Senate that 1t
should have a hand in the choosing of
the men who are to give or refuse ap-
proval OF security issues. The Capt.
tai Issues Committee cannot actually
, refuse the issuance of stock as first
intended in the bin. But it can re-
fuse to give its approval to the stock,
which, it is said. would make the Sc
curities unreliable in the market.
The other important vote of the day
came upon an amendment by Sena-
tor Hollis, OF New Hampshire, to the
effect that the Eve members. Of the
War Finance Corporation must de-
vote their entire time to government
work and must therefore relinduish
all outside activities.
By a vote of IS to Is, the Senate de-
cllned to accept the amendment. Those
voting for II were:
. Democrats-Gore. Hardwiek. HolIis
Johnson, Of South Dakota; Kirby,
NcKellar. Myers. Nugent, PheIan.
Pomerene. Shafroth, Thomas. Tbonnn-
son. Tramsen, Vardaman, Walsh, n6)
Republicans-Borah, Curtis, Gronna
Hale, Jones, Of Washington: Ken
drick, Kenyon, McNary, Norris. Poin-
dexter. Smith. OF Michigan; Sterling.
QD. Total-8 .- -.
The bill now goes to the House. As
il stands. The War Finance Cornora-
ton has $5Oo.OoO, 900 to aid business with
and the ability to issue 5000 600 OOo
worth OF bonds.