OCR Text |
Show I amendment cor.siderab!? exposition is j eipec-cd in the hou-. Accoriir.g to Y."a:i.;i:;un dispatches : :iis otros;-:on will crime chiefly from I Ih pubhca.is who object to any s'imu-j s'imu-j lation of the export trad? at this time, : taking the position that the prevailing-' prevailing-' high pric.-s are due to excesive ex-! ex-! ports an.l that the proposed l-.-gislation will further enhance -rices. Its sponsors spon-sors say that the bill will not mean ! inerc:;.c in exports necessarily, but will I provide nians for the payn-nt of obligations ob-ligations already contracted by foreign purchasers and make it possible to continue con-tinue the export trade already developed. devel-oped. The Huge bill is the chief measure presented as a menus of stabilizing foreign exchange conditions, which at the present time make it necessary for foreign purchasers to p:.y practically a prohibitive premium if ihey would buy American goods. Tho character of tho opposition to any measure for the promotion pro-motion of foreign trade was shown in thj house recently when tho bill enabling enab-ling banlcs to invest up to five per cent of their capital ant1 surplus in foreign for-eign corporations was passed. Eighty-five votes were polied against the bill on the general theory that exports ex-ports should not be encouraged at this time. It is significant "hat many of the Republicans standing ' for a high protective tariff voted against the measure. Tho Democrats voted solidly for the bill. Those two bills have the indorsement of tho treasury department and the federal reserve board. Tho national na-tional bank investment bill now awaits tho president's signature. The fate of the Edgo bill is, it will bo soon, conjectural. THE EDGE BILL. The passage of legislation to facilitate facili-tate the financing of the export trade of the United States will be one of tho important actions of tho present congress. The Edgo bill, authorizing the formation of financing corporations corpora-tions under the supervision of the federal fed-eral reserve board, which was passed by the senate last wcok, will come be- fore tho house committee on banking and currency before the end of the present week, according to the program pro-gram of hous? leaders. The bill, framed by the senator from Nov,- Jersey, Jer-sey, has been indorsed by Secretary of the Treasury Glass. Vv P. G. Hardin-, governor of the federal reserve board, and others. Although the bill was passed by practically the unanimous vote of the senate after some minor , |