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Show CURRENCY ISSUE IISEDJH cms Leaders of Senate Are in a Quandary as to What Should Re Done. REPUBLICANS BELIEVE ACTION IS IMPERATIVE Democratic Senators Finn in Their Opposition to the Vrceland Measure. "WASHINGTON, May 25. Currcncy lcgislation was the chief topic among leaders of the Senate and House today. to-day. The revival of tho discussion came unexpectedly and led to all sorts of rumors of probable agreement between be-tween the conferees on the Aldrich-Vreeland Aldrich-Vreeland bill looking to the enactment of a measure al. tho present session. Many .Republican members of the TTouse do not seek to disguise their fojir that if Congress should adjourn without passing an emergency currency bill the failure to take, action would bo disastrous disas-trous lo tho majority. This fear was emphasized by Representative Bart-holdt Bart-holdt of Missouri, chairman of tho House committee on public buildings, who declared that ho would not submit his conference report, on tho omnibus bill until financial legisaltion had been assured. His action holds the buildings bill, in which 21G members of tho House and many Senators are interested, interest-ed, over the heads of "any recalcitrant, group or faction" that may be opposed to an agreement on emergency cur-rencv. cur-rencv. Rosult Still in Doubt. There arc many members of both branches of Congress who believe that the impression giveu out by many leaders lead-ers that there is no hope for action at tho present session is for the purpose of arousing tho country to demand action before adjournment. Tf such a demand should conio now the result would be iu doubt. Early in tho day the report was circulated cir-culated in the House that there was a movement on foot to dovetail tho Aid-rich Aid-rich and Vrceland bills, retaining the principal features of each. Tho effect of this course would bo to permit individual in-dividual banks to. take' out emergency circulation on government, stale, county or municipal bonds, or, as an alternative proposiliou, to take out emergency circulation cir-culation on commercial paper to be guaranteed by ban3;a of a clearing houso association as provided by the. Vreeland bill. Tt. was the idea in the Houso thr.t this provision could, be amended so as to bo acceptable to tho Senate by defining tho character of the securities, such as prescribing that they shall havo two -indorsers and not run more than ninety days. Tt was suggested suggest-ed further that tho emergency circulation circula-tion measure should not operate for more than three years, and that in the meantime there could be a goncral revision re-vision of the currency and banking taws. Democrats Aro Balky. No sooner had this schemo for a compromise com-promise reached the Senate than tho Democratic leaders served notice on Senator Aldrich that they wero ready to talk for a month to prevent any foa-turo foa-turo of the Vreeland bill becoming law. Although Speaker Cannon was supposed to father the compromise movement, it met with decided opposition iu tho House. Representative Burlou of Ohio, one of the Republican conferees on tho bill, had opposed the Aldrich measure and was pledged to a considerable following to do all he could to prevent tho adoption adop-tion of any of its principles. Conceding that tho Democrats of the Senate will not yield, the chance for legislation is slight. It is in such a. contingency that, according to the belief be-lief of many, public demand is oxpectod to play a strong part. "When the Aid-rich Aid-rich bill was passed by the. Senate, Speaker Cannon was thought to fnvor it, and he may not be wholly averse to its adoption at this time. Public demand, de-mand, therefore, may bo directed at Mr. Burton and those who believe with him that it would be better not lo have any legislation than to accept the Aid-rich Aid-rich bill, Such members of Congress as havo hinted at such a "deep laid plot" are pointing to the fact that but one meeting of the conferees on tho Aldrich-Vroeland bill was required to reach the conclusipn that they could not got together. Jt was said further that this indicated that there was a desire de-sire from tho start to force tho Aldrich bill on tho House. Whatever tho result may be. the lenders in that body insist today t lint they will not accent the Aid-rich Aid-rich bill unless tho Vreeland provision for issuance of circulation on commercial commer-cial paper is retained as the alternate provision. Speaker Is Hopeful. That Speaker Cannon entertains hopes that there will vet be an agreement agree-ment is indicated by the fact that the scrgoant-nt-arms of tho House is admonishing ad-monishing !nemborsi not to leave tho city until final adjournment has been decided upon, and in some few cases members who have already gouo homo have been asked to come back. Representative Repre-sentative Bartholdt of Missouri, chief of the IIouhu managers, in tho conference confer-ence on the public buildings bill, made tho following statement late today to tho Associated Press: "T served notice on the. Speaker today to-day that 1 would not call up tho con- fcfenco roport on tho public buildings . bill until after a satisfactory currency ' bill has been passed. The conferees on this bill have reached a final agreement, and their report has been adopted b' tho Senate. T told the speaker that my constituents, especially Republicans, are urging ou me with much vigor tho absolute necessity of ohuctiug at this session an emergency currency measure, and that T agreed with them, and. I bclievo, with tho majority of the thinking think-ing people of the country, that such legislation is necessary to restore financial fin-ancial confidenco and guard against Continued ou Pago Two. CURRENCY ISSUE USED AS A, CLUB Continued From Pafje One. recunenco of panic conditions. Tho speaker's reply was that no ono could force me to present the conference report. re-port. Outlines Situation. "The situation is this: The country is looking to tho Republican party to pass an emcreency currency bill. Congress Con-gress has been in session six months and has failed lo acrree ou u currency measure. meas-ure. If wo adjourn without doinjr anything any-thing more than creating a currcucy commission, it will be up to the ."Republican ."Repub-lican party lo make embarrassing excuses ex-cuses if panic conditions recur this fall. Furthermore, a presidential campaign cam-paign approaches. "I have tho report of tho conferees on tho public buildings bill in my pocket pock-et I am going lo keep it there until a satisfactory currency bill has been passed. The House and Senate conferees confer-ees on currency arc al(tho threshold of a tentative compromise. Thero is no reason why thoy should not agroo and why we should not enact this agreemout into law. T for one am willing to stay here all summer, if necessary, to "starve out" any recalcitrant group or faction." Commenting on the report that Senators Sen-ators Toller and Culberson had announced an-nounced their intention to filibuster against the adoption of any features of , the Vrecland bill, one of tho Houso cou-ferees cou-ferees eaidr "Aldrich Bill or Nothing." "Tho onlj- interpretation of this altitude alti-tude is that the Democratic Senate , managers now propose tho Aldrich bill or nothing. If this be their attitude and the' maintain it, of course, there will bo no currency legislation beyond creating a commission. "The attitude of Senator Aldrich. on lho other hand, is exceedingly reasonable. reason-able. He has Leon ready for a compromise com-promise whercbj- individual banks which preferred not to affiliate with national clearing house associations, i would be authorized, if they desired, to buy state, county or municipal bonds, i and on them ns security take out addi- ' tioual circulation in timo of need. 1 ! can see no reason wiry such an addition to tho bill should not be accepted by I Ihe House; but whether tho Vroelaml I bill so amended would bo acceptable to tho Senate there's tho rub." |