Evening star., 1935-03-20
FIGHT ON BANKING
MEASURE MAPPED
Glass Is Expected to Find
Support to Phases of
Bill.
By the Associated Press.

By the Associated Press.
Soon after the struggle on the S4,-
$4,000 900 work and relief bill is over
another fighting issue is expected to
leap to the fore in Senate committee.
It is the new banking bill drafted by
Roosevelt administration officials.
The relief bill struggle has delayed
consideration of the bank measure
and of President Roosevelt's nomina-
ton of Mariner S. Eccles. New Dealer,
as governor of the Federal Reserve
Board.
Senator Glass of Virginia is chair
man of the Banking Subcommittee
which is charged with consideration
of both matters. Glass, whose views
conflict with Eccles', has been COM
piling a list of witnesses to be called
on the bank bill and evidence in con-
nection with the Eccles nomination.
While Glass has said little publicly
about the bill, he is known TO frown
on some of its provisions for changes
in the Federal Reserve System de-
signed to centralize further control OF
money and credit in the Reserve Board
at Washington.
Forces Mobilize.
Strong opposition to some parts OF
the bill is forming in the Senate back
of Glass, but there also is powerful
support for it.
The American Bankers Association
and other organizations opposed to
in, tho hankinp ann
monetary laws are campaigning 1or
creation of a commission to study the
problems involved.
Chairman Fletcher of the Banking
Committee early in the session was
considering a proposal for a joint
congressional commission to study
money and banking legislation, but
has now dropped the idea. He was
backing it when he understood the
administration desired no banking
legislation at this session.
II don't want to press it now, "
Fletcher said today. Il would rather
have legislation if we can get it."
Roosevelt Attitude in Doubt.
President Roosevelt's attitude on the
bank bill is still somewhat in doubt.
Glass contended it was not lndorSed
by the President, but was merely Of
fered as a suggestion. Other leaders,
however, treated it as an administra-
ton measure. The bill was drafted
by Eccles and other officials.
Eccles will be called by the Glass
committee in the consideration of his
nomination. Glass has been studying
Eccles' background as a Utah banker.
Nearing the end of fortnight on
the stand. Eccles smilingly told the
House Banking Committee yesterday
that fears of initiation had been
largely imaginary"
Advocating passage of the Treas
ury's omnibus banking bill, he followed
this by arguing that a governmental
deficit was needed in times OF depres-
sion.
II don't believe it is so easy to get
imitation" Eccles testified. Certainly
many efforts have been made, but we
are Just as far from it now as we
we're three years ago. Unless people
without money and without jobs are
put in possession of money and jobs,
and unless people and corporations
with money will spend the money
they have, you can't get an imitation
by purely changing the gold content,
or by silver legislation, unless your
action actually puts money into the
hands of people who will spend it and
induce others who have it to spend it.
Eccles probably will finish his tes-
timony before the House group today.