| Show BILL BEFORE GON RESS ADMINISTRATION MEASURE PRESENTED PRESENTED PRE- PRE TO SENATE AND HOUSE BY OWEN AND GLASS S Several everal Changes Have Been Made Inthe in inthe inthe the Bill as the thC Result of Numerous Conferences Between President and Party Leaders Washington The The administration currency bill bill was was' launched on th the troubled seas of executive consideration tion Thursday when it was introduced intro intro- in the senate by Senator Owen aD and in the house by Representative Glass The house immediately referred referred referred re re- re- re the measure to toi the banking and currency committee Several changes had bad been made Inthe in inthe inthe the bill bUl as the result of the numerous conferences in which President Wilson Wilson Wil Wil- VIlson son Democrats of the house and senate senate sen son ate committees treasury department officials and committees of bankers took part following th the publication of the proposed measure several days ago but despite earnest appeals that the federal reserve board to control the proposed new currency system be he increased and that the bankers be given representation no change inthis inthis in inthis this provision was made The board will consist of seven men t to be appointed appointed appointed ap ap- ap- ap pointed by the president In the sen son ate Senator SenatorS Cummins contemplates proposing an amendment which would make the board an elective body Reinserted in the bill was the original original inal proposition for retiring the present present pres pres- present ent bank notes within tw twenty nty years and the substitution of additional federal federal federal fed fed- eral reserve notes for them This eliminates the proposed limit of or in hl reserve notes contained in Jn inthe inthe the bill as originally made public In replacing the bank notes the govern govern- ment mont 2 per cent cent- bonds bonus upon whIch they are now issued would be refunded refunded refunded re re- re- re funded by 3 per cent bonds without the circulation privilege |
