Evening star., 1934-01-24
Willing to Accept Time Limi-
tation, Congress Leaders
~ Are Told.
VIEWS COMMUNICATED
FOLLOWING PARLEY
Democratic Leader Robinson, After
White House Call, Says Limit to
Operating Fund Nay Be Accepted.

By the Associated Press.
President Roosevelt sent word to con.
gressional leaders today that he was
willing to accept a time limitation on
his monetary legislation, but urged re-
lection Of the proposal to have a board
administer the huge stabilization fund.
The Chief Executives decision was
passed along to his lieutenants on Cap
itol Hill as the Senate began coasidera-
ton of the money bill.
One Of the chief objections raised
against the monetary bill was that it
was permanent, rather than temporary
legislation. and should, therefore, re-
ceive more thorough consideration.
Republicans, together with some DEM
ocrats, were determined, however, to
continue their battle for management Of
the $4,000 100000 stabilization fund by
board Of five rather than the Secre-
tary of the Treasury alone.
Robinson at Parley.
The Presidents views were passed
along to congressional leaders after a
conference at the White House with
Senator Robinson. Democratic leader.
Robinson would not discuss his visit,
but on leaving the White House said
the board plan was obnoxious and i'm
practical"
At the Capitol, he said the amend
ment adopted by the Senate Banking
Committee yesterday to limit the opera
ton Of the fund and the Presidents
n iaVollIo "a dal1ar N fyr-n
years, with provision for extending
them to three, would in all probability
be accepted"
Under this amendment the President
could declare the emergency period over
before two years, If he desired, and can
eel the grant Of power. or he could eX-
tend them for the third year.
The other amendment, which the ad-
ministration opposes, would have a
board composed of the Secretary of
Treasury, the governor Of the Federal
Reserve Board, the controller of the
currency and two others appointed by
the Senate run the stabilization fund.
Insist on Original Terms.
Administration leaders said they
would insist upon the original terms of
the bill, providing the Secretary of the
Treasury with sole jurisdiction over the
fund. contending that it can only be
handled by single power. and that a
board would endanger what was called
the fundamental necessity for secrecy.
Chairman Fletcher explained the
committee amendments to the Senate.
Most Of the Senators were in their
seats and the galleries were comfort
ably filed. Fletcher could hardly be
heard in the galleries. however, and
even the Senators strained their ears
to catch his words.
Notably missing was Senator Thomas,
Democrat, of Oklahoma, long an ad-
vocate of dollar devaiuation and seizure
OF Federal Reserve gold. He was i'll
at home.
Reaching the controversial amend
ment substituting a board to administer
the srabilization fund. Fletcher said
that should be rejected.
There ought to be one unified
source of control" he contended. add
ing that expe fence had shown boards
of 10 developed conflicts of views"
which led to delays.
Expeditions Administration.
Single control. he said. would make
for expeditions administration and pro-
tect the 'confidential' fund
Senator Vandenberg, Republican, of
MlCllsdH, suggested IL nlgHC De USE
fur If there were occasional conflicts in
administration of the fund to show that
its operations were being given close
consideration.
Fletcher opposed an amendment by
the committee to confine operations Of
the fund to the sole" purpose of sta
bilizing the value of the dollar. He
said he did not feel the word sole"
was necessary.
Voicing the administration attitude
on the time limitation, Fletcher told
the Senate it was not a vital amend
ment," adding that las far as I am
concerned it may be wise to accept it."
Fletcher added that he would make
no contest" on the time limitation,
either as applied to the sterilization
fund or the Presidents power to de-
value the dollar
Early congressional approval OF the
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