Evening star., 1935-02-06
ROOSEVELT GIVES
BANK BILL VIEWS
Says Measure Outlines Gen.
eraI 0bjectives of the
Administration.
BY the Associated Press.

BY the Associated Press.
Presentation Of the new banking bill
to Congress was described by President
Roosevelt today as intended to outline
the general objectives Of the admins
tration.
Though Mr.. Roosevelt had withheld
personal Endorsement Of the draft
which would increase the Federal Re-
serve Boards powers, his statement at
tooays press conference prompted OBJ
servers to believe the President Is in
accord with the main purposes of the
measure.
In reply to press conference ques-
tions, the Chief Executive termed
fantastic any thought that a pro-
vision OF the banking bill would reduce
the 40 per cent gold reserve behind
United States currency.
Meanwhile. on Capitol Hill, Senator
Carter Glass apparently was set to
open fire on the bill, as legislators
heard that efforts might be made to
keep it out of the hands of subcom-
mittee which the Virginia Democrat
heads.
Such hint was seen in the remark
by Senator Fletcher, Democrat. OF
Florida, that the whole Banking
Committee probably will want to
handle the BILL" which he interpreted
as giving the administration more con-
troll over credit and the issuance OF
currency.
Glass Is Confident.
Fletcher is head of the Senate Bank
ing Committee, of which the group
headed by Glass. is a subcommittee
Glass, conservative opponent Of the
bill which would widen the Federal
Reserve Boards powers, said he did
not believe the reports that his COM
mittee would not handle it.
when my subcommittee gets 1t, II
have something to say" he had de-
clared
Fletcher planned to introduce the
bill into the Senate today. 1t was
drafted by officials of the Treasury
Federal Reserve System and Deposi,
Insurance Corp, but bears only the
partial Endorsement of President
Roosevelt.
Glass maintained that Mariner S
Eccles, governor of the Federal Reserve
Board, had failed to keep a promise
to show the bill to him before any one
else saw it. though Eccles said thai
through miX-up, the bill was sem
to Congress without his knowledge
| and before he got final draft himself
Change Evokes Interest.
Yesterday brought some discussion
Of the present composition of the sub
committee, headed by Glass. Some
conservatives expressed the belief tina,
the addition of three liberals to the
subcommittee had had the effect oi
| packing" it against its chairman ano
other conservatives.
Glass himself did not make such ar
accusation, saying merely that it woulc
be interesting" to know why the
membership was increased. Fletcher
who named the new members. said:
II wanted good subcommittee
That's a good. fair committee"
Last year the subcommittee con-
sisted Of Glass, Bulkley Of Ohio, and
McAdoo of California. Democrats, and
Townsend of Delaware and Walcott OF
Connecticut, Republicans Generally
speaking, this lineup yielded a vote
Of four conservatives to one liberal,
Bulkley.
Walcott was defeated in last year S
elections, and replaced by Couzens,
Republican, of Michigan, a liberal
Then to the membership was added
Byrnes of South Carolina, who holds
position we'll within the administra-
ton leadership; Bankhead, a staunch
administration supporter. and Cut
ting. New Mexico independent Repub-
lican, who supported Roosevelt in
1882
Thus the alignment has been shifted
to five liberals and three conserva-
tives.