Show FIGHT BEING MADE I a Wl mm ki mem UPON POSTAL BILL Cummins Amendment to the Smoot Amendment Cause of Delay In Action SEVERAL SPEECHES MADE VOTE MAY NOT BE REACHED ON MEASURE TODAY Washington March 4 After labor laboring laborIng laborIng ing for almost six hours today In at atmosphere atmosphere atmosphere surcharged with the elec electricity electricity electricity generated by conflicting opinions opinIons opinions ions the Senate again failed to reach a n vote on the postal savings bank bill billand billand billand and took a recess until tomorrow By this action the legislative day of ot March 3 is continued until tomorrow There Is some uncertainty whether final action will be reached even then When the recess Was Wal taken Senator Carter said seven or eight Senators de desired desired sired elred to speak and he did not want to gUNS guess how holy many other speeches might follow Beginning at 1130 today toda the flow how of ot oratory continued Without in interruption Interruption interruption until after 5 when In ln despair of reaching a vote Mr Car Carter Carter ter moved a recess until 1145 1146 a n m to tomorrow tomorrow tomorrow morrow During the day there were speeches by Senators Root Carter Cummins Rayner Clapp Borah Clay Newlands and others representing almost as many views as there thero were speakers Basis of the Discussion The Cummins amendment to the Smoot amendment limiting to times of or orwar war the exigencies In which the postal funds may be withdrawn from the I banks In which they are deposited was I the technical subject of discussion dur during during ing the entire sitting and during that time there were many rather acrid ex exchanges exchanges exchanges I changes of views Senator Root dwelt strongly on the necessity of or protecting the credit of or the country Mr Ur Carter strongly second seconded ed Mr Roots appeal and drew an even more vivid picture of the possibility possibility of an unexpected national need for funds Both Senators Clay and Cummins charged Mr Smoot with Inconsistency in originally presenting an amendment prohibiting the withdrawal of the postal funds from the local banks and following that up with another pro provision provision provision vision authorizing such withdrawals withdrawal should the government need such funds Senator Smoot Defends His Course Mr Smoot defended defend d his course on the grounds that he had been con convinced convinced convinced vinced of the unconstitutionality unconstitutionally of the proposed law without provision bringing bring bringing bringIng ing it the borrowing clause of the constitution Senator Carter said frankly that his change of or position was due to the parliamentary necessity of putting the bill in shape to insure its passage Answering questions by Mr Clapp Mr Root said his amendment contemplated contemplated contemplated plated the investment of the postal funds in bonds to be issued hereafter He said he lie hardly thought the postal savings board would approach invest investment Investment investment ment in the thc existing 2 per percent percent percent cent bonds as some had feared Appealing for candid treatment of ot the question Qu Mr Carter in charge of the bill said even if the postal funds should be invested in government securities se securities securities little harm could result as most of the funds would consist of money now hoarded Would Defeat the Bill He Re declared that the acceptance of the Cummins amendment would insure the defeat of the bill and appealed to all friends of the legislation to yield their personal opinions Mr Borah supported the Cummins amendment He said the Smoot pro provision provision provision vision would be a constant threat to every bank taking the postal money that those who would divert the legis legislation legislation legislation lation from the purposes for which it was instituted must take the responsibility responsibility responsibility for the defeat of the bill The proposition pending Mr Clapp declared was totally different from the original postal savings sayings bank design and he warned Republicans that the time would come came when excuses would not be taken for broken party ledges pledges Mr Clapp expressed surprise at Mr Barters arters support of the Smoot amend nent declaring that in many years association with the Montana Senator he never had heard him advocate ate the use of the postal funds for the pur purchase purchase chase of bonds Senator Carters Position I am now and I have always been In favor of the deposit of postal funds in the local banks responded Mr Carter If such a provision Is necessary then the bill should be defeated re retorted retorted retorted Senator Clay Mr Clay called attention to the th fact that the Senate had adopted the inal amendment unanimously and urged the of the bill Calculating that under the provisions of the bill there would be ten millions of depositors Mr lIr Gallinger predicted a serious condition in time of or financial excitement All AU the depositors would demand their money he said and when they found that the government had it I think there would be war right there That might be If the depositors had no confidence in the government re replied replied replied plied Mr Ir Smoot but we assume they would have Not necessarily so replied Mr lIr Gallinger If they were aliens as the depositors many of them would be |