Evening star., 1933-04-13
GLASS ANNOUNCES
BANK AGREEMENT
Senator DecIinues to Reveal
Provisions Accepted by
Subcommittee.

Chairman Glass announced today
his Senate Banking Subcommittee was
unanimously agreed" on permanent
bank reform bill, but was holding II
up for a conference with Secretary OF
the Treasury Woodin.
The committee met on the bill for
more than an hour and half, despite
conflicting reports of the administra-
tion attitude. AS he emerged from the
meeting, the Virginian said:
1.-The subcommittee is unanimously
agreed"
"On the bill as it was tentatively
drafted?" he was asked.
"As it is" Glass replied, laughing
He refused to discuss the terms of the
measure, but said there had been mo
material change" in the provision for
a 50 2,000, 100000 deposit insurance fund
Held Up for Woodin.
"The bill is being held up until the
Secretary returns" Glass said. There
is no difference whatsoever among
members of my committee"
would be ready to report to the full
committee early next week. giving ths
impression that the subcommittee wa.
ready to stand on the bill in substan-
TALLY its present form regardless Of the
administration attitude.
Glass said there were "Sone PROPOSE
tions still open for discussion, but they
are not very material"
President RooSevelt's attitude toward
the insurance plan has been variously
reported during the past two days, and
members of the subcommittee want to
confer with Woodin to determine what
changes the administration wants in
the bill. Secretary Woodin is now in
New York
The bill, when it is finally passed
must carry some provision for the in
surance of bank deposits, in the opinion
of Senator Fletcher, chairman of the
Senate Committee on Banking and
Currency. The veteran chairman is
joined in this view by other influential
members of his committee, by members
of the House Committee and by Speaker
Rainey of the House.
Secretary WoCdin has been in opposi-
tion to the plan already advanced for
the insurance of bank deposits by those
who have been working on the bank re-
form bill, and in which the Govern
ment would be contributor. Whether
Secretary Woodin will be persuaded to
change his attitude in the matter and
whether President Roosevelt will back
up his Secretary of the Treasury or
listen to the advice of the members Of
Congress dealing with the banking leg
islation are burning questions today in
connection with bank reform legislation.
Bill Expected Soon.
Senator Fletcher and also Repre-
sentative Steagall, chairman of the
insist that a bank reform bill will be
passed at the present session of the
Congress; that such a measure is es-
sential Senator Fletcher said that he
believed the subcommittee of his
committee working on the bank bill
would have it ready for introduction
in the Senate before long. The Demo-
cratic members of that subcommittee
include Senator Glass. Senator Bulkley
of Ohio and Senator McAdoo of Califor-
mia. Once the bill has been introduced
by Senator Glass it will then be given
consideration by the whole committee,
Senator Fletcher said, and reported to
the Senate for action.
Both Senator Fletcher and Represent
ative Steagan visited the White House
yesterday and were in conference with
the President While they declined to
give details of their conference, Sena-
tor Fletcher said that the President
had not closed his mind on the ques-
ton of insurance of bank deposits.
Secretary Woodin was in New York
yesterday. The President was repre-
sented in other quarters as holding
that SO far the steps taken in connec-
tion with the bank reform bill are
preliminary and that further confer
enceS must be held to work out the
details of the measure.
A compromise on the bank deposits
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