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Show NEW CURRENCY IFIi BILLS Nearly a Dozen Propositions, Covering All Branches of the Question, Introduced Up to Date. OFFICIAL MEASURE NOT YET PREPARED Carter Glass, Who Will Introduce Intro-duce the Bill in the House, Confers With Secretary of the. Treasury. WASHINGTON, pril 10. Now currency reform bils were introduced in-troduced in tho house by Representatives Rep-resentatives Prouty of Iowa, Nelson of Wisconsin and Palmer of Pennsylvania Congress now has before it nearly a dozon bills covering all branches of banking and currency reform, re-form, but none of theso bear the indorsement in-dorsement of the official committees of tho two housos or of President Wilson. "Representative Carter Glass, who probably will introduce tho measure about which money reform debate will center in the house, conferred todaj' with Secretary AfcAdoo of the treasury department, who has been gathering information from banks upon certain phases of tho financial situation. Mr. Glass said at the end of the conference that there would be no difference of opinion between himself and the secretary secre-tary of tho treasury over the bill that he finally would introduce in the house. Desires Further Hearings. An effort will bo made in tho sou-ate sou-ate to secure further hoarings, particular' particu-lar' upon the subject of the money stringency at crop-moving times and the' "sectional demands" for money. Sonator Hitchcock, a momber of the banking nnd currency committee of the senate, said today he would ask' for hearings at which more detailed facts could be secured, as to local demands for money, aud local problems that should be considered when congross final I3' takes up the work of reforming currency methods. Three general bills now are before the senate. The Weeks bill embraces the plan of tho monetary commission for a national reserve association, or central bank, through which all bants would secure their note currency. Tho Hitchcock bill proposes twenty distinct reserve associations, each with the power to issue notes to its members and to buy and soli commercial paper. The Jones' bill proposes Bixtoen subtreasury districts, each subtrcasuror being empowered em-powered to issue currency to banks on approved bonds. Permanent Commission. j Under tho bill a permanent national na-tional monetary commission of eighteen members would bo established. Tho measure would impose a penalty of ten years' imprisonment upon any person per-son guilty of trying to "corner" the currency, either directly or through a "chain of investments." Of tho bills introduced today, that of Representative Nelson proposes a national curronoy board of sevon mom-bers,-with powor to issuo treasury notes through local "associations of reserve and discount." That of Representative Representa-tive Prouty would create a new emergency emer-gency currency, similar' to that created by tho Aldrich-Vreoland law uow in forco, but which would bo much more accessible for bankB in case of emergency. Under this measure tho emergency notes, in amount equal to 40 per cent of a bank's capital aud surplus, could bo stored in the bank's vaults nnd put into circulation with consent, of tho comptroller of the currency. cur-rency. Palmer's Bill. Representative Palmer's bill would give banks the right, to loan money upon real estate mortgages aud conveyances. con-veyances. A general banking bill also has been introduced by Representative Lovy of New York. Tho house banking bank-ing and currency couimittoe will not bo organized until tho tariff legislation has been disposed of. Senator Owen probably prob-ably will call a meeting of tho senate committee soon aud outline plans for currency reform work to bo considered at the present session of congress. |
