Salt Lake Herald-Republican | 1919-03-02 | Page 20 | Rush Act on Bill is Cause of Friction

RUSH ACT ON O BILL IS CAUSE OF FRICTION Continued from Page 1 1 Section 1 L 1 Lodge spoke briefly opposing the granting granting- of ot authority to the secretary of ot the treasury to fix the Interest rates on the tho of ot short term tenn notes authorized hv h by th the measure He hIo II Ge- Ge Glared ir d- d th t that thi this t together g t-h t wl with the e right to sa say how many are aro to bo be Issued is issued issued Is- Is sued were enormous norm us powers and wholly useless Modification of or tho the House bill bIU so as asto asto asto to limit the bon bonds s to two classes with the Interest rate of ot the tho first at 31 per percent percent percent cent and that of ot the tho second at 41 H per pcr percent percent cent according to the tho amount of the notes exempted from taxation was urged by tho the senator who declared it seems to bo ho the Impression of the treasury department that when this Congress adjourns there will wUl never bo be another Criticism Voiced S Senator nat rSm Smoot ot of U Utah h Republican e. e Uca deplored 1 tho demand lor for nasty hasty enactment enactment enactment enact enact- ment of or th the billIt billIt billIt bill It could not pass In th this l form torm if It it were were- not in the closing days of or the session and I recognize that no amendment amendment amendment amend amend- ment is to be allowed he said fald There Is no need to discuss Its details What Is the use when we know what Is be before before before be- be fore us Special criticism was gi given cn by Mr Smoot to the powers of at fixing interest rates given tho the secretary of or the tho treas treas- ury The Utah senator predicted that this years year's expenditures would be bo 0 and and also that there would be great delay In payment of allied loans Senator Thomas of at Colorado Democrat Democrat Democrat Demo Demo- crat interjected the prediction that the money never neer would be repaid declarIng declaring declaring ing Great Britain still BUn had outstanding debts contracted In prosecuting tho the Revolutionary war Ran Hall Payment B blaA Discussing the financial condition of the tho country Senator Smoot said the government was behind four tour months in its payments to the railroads and that creditors of the roads were carrying them for Cor millions of ot dollars because the accounts were not paid Announcement that he would vote against tho the bill was was' made by Senator Penrose of Pennsylvania Republican who declared It was being belnE forced through at the point of or the Bayonet Referring to a newspaper article which said Baid that President Wilson Vilson had urged enactment at this session of 01 a abill abill a. a bill prepared at his request by the state department and Introduced Inthe in inthe inthe the House to appropriate to meet the expenses of at his European trip Senator Penrose asked Democratic Leader Martin If Ir It was planned to pass It before adjournment No communication callan has reached the appropriations committee regarding that bill replied Senator Martin I know nothing about it except what I Isee Iseo see seo In tho the public press Roosevelt Honor Withheld Tho first ame amendment to tho the bill proposing proposing proposing pro pro- posing that the h vignette neUe of at former President elt Roosevelt bo be placed on the tho new new securities was voted down 37 to 23 3 All of the tho Republicans except Senator Senator Sen Sen- ator La 1 Follette of Wisconsin ln voted otoo for forthe forthe forthe the amendment and all aU tho ho Democrats except Senator Reed need of or Missouri voted In opp opposition Senator Owen of oC Oklahoma Oklahoma Okla Okla- homa Democrat said If Ie the amendment would not jeopardize the bill he would favor It It After Atter the vote on the amendment Senator La Folletto Follette of or Wisconsin Republican Republican Re Re- publican n began beban an address on the bill advocating an amendment to prevent coercion in sale of at the securities lIE He pl planned nned to speak about one hour The Wisconsin senator declared the loan bill to be unconstitutional as it would take from Congress Cons the power to fix rates of or Interest on government loans and would place tho the authority in tho the secretary of the treasury treasur Congress Congress Con Con- gress he said would be setting an unwise unwise unwise un un- wise precedent in enacting a measure placing such authority in a department head in contravention of at the tion