OCR Text |
Show LOCATION OF BANKS CAUSES II DEBATE Question Comes Up in Both Senate and House; Southerners South-erners Do the Talking. WASHINGTON. April S. Clot debate over the selection of tltc I'welvc-rogioual reserve cities for the now federal banlc-hiff banlc-hiff system marked today's session of both houses of congress. The argument in tho senate, which centered upon the choice of Atlanta and Dallas over New Orleans, was followed by the Introduction of a resolution by Senator Hitchcock calling upon the organization or-ganization committee for all its data und the reasons upon which the fixing, of reserve districts was buf-cri. Objection Objec-tion by Senator Swanson forced consideration consid-eration of the resolution over until tomorrow. to-morrow. Southern senators did most of tho talking on tho subject. Senator Ransdcll of Louisiana said1 an effort would be made to have tho federal reserve board overrule the selections of the organisation organisa-tion committee. In thn houeo, the advantages or Ttieh-mond, Ttieh-mond, Baltimore, Atlanta and New Orleans Or-leans wore discussed. Rcpreseirtatlvo Glass of Virginia, chairman of tho banking bank-ing and currency committee, spoke In defense of Richmond, in particular, and tho federal rcscrvo organization committee's commit-tee's selections In general Ho was fortified forti-fied with figures supplied by the trensury department. Mr. Glass paid Richmond, with its 124.-000 124.-000 population, had double tho loans in tho south that New Orleans, with 100,-000 100,-000 population, had and that Richmond was tho creditor of Baltimore and not its debtor. He ridiculed the Idea that politics had anything to do with any of the selections. ' Representatives Dupro and Estoplnal of Louisiana. Insisted that New Orleans should have boon Included In tho list of reserve cities, while Representative Llnthicum of Maryland cave his opinion that a grave error had been made in overlooking the claims of Baltimore. |