Show BATTLE OVER VER 0 CREDIT BANK PLAN LOOMS S Opposition to ROOS Roosevelt's V P Proposal ar App in Both oth Houses i OPINIONS ARE DIVIDED One Group Sees Conflict With Wih R R. F Fe C Sch Scheme me men n Br Associated d Press WASHINGTON March 22 A 22 A stIrring stirring stirring stir stir- ring of opposition to President Roos Roosevelt's Roose- Roose veils velt's new credit bank plan became apparent today in both th the senate and house banking committees Opinions were in conflict t f In both groups also as to whether the proposal pro pro- by the president and nd led federal ral reserve reserve re re- re- re serve board for a system of 12 banks t to pour new capital into medium sized business or the Reconstruction tion corporation plan for forit it direct direct direct di di- to industry would prove more mores s suitable it ble Referred for tor Study Chairman Fletcher of or the senate committee commit ee referred both bolh proposals aim aimed d at t approximately the same end to a subcommittee for study He said If the federal reserve credit bank setup is created there may not be need for th the R F C plan or vice versa versa Senator Glass D. D Va a I former secre secretary r of the treasury and a a. recognized recognized recognized rec rec- banking authority was represented represented rep rep- resented as one of th those se opposed to creation of the bank 12 system The Virginian and other members of r the senate c were said saia to object to th od ad of ot capitalizing the barik 1 l n tr treasury asu purchase from th the federal reserve banks ok ot in stock of ot the Federal Deposit Insurance cor car Bitter Fl Fight M Waged Some reser reserve e bank members waged a bitter fight against originally subscribing subscribing subscribing sub sub- scribing for this deposit corporation stock arid and some some m members of the committee com com cam pr professed r privately to see ee in inthe inthe inthe the credit bank proposal a ni move move ve sponsored by the reserve banks banks' to regain this capital At least one member of the house banking c committee also ls voiced the belief that the theR R F C should be given ven vena a authority t to make di direct loans to small concerns |