Show CURREr CURRENCY LY BilL i ol STILL ILL POSSIBLE I- I Hopkins Working on Combination Combination tion of Aldrich and Vreeland Vree- Vree Vreeland Vreeland land Measures PURELY A COMPROMISE Cannon Busy in House to Procure Procure Procure Pro Pro- cure Passage This Session Washington May Ia Another 24 Another effort effort ef eC- fort tort is to bo be made to secure emergency emergency emer emer- gency genc currency legislation at tho the present present present pres pres- ent session of congress Senator Hopkins of Illinois has drafted a l bill which has been submitted sub suh- mitten to Sp aker Cannon and the tin house leaders for Cor their concurrence It provides both the bond feature of f the Aldrich bill hill and the commercial commercial commer commer- cial ial paper scheme of the thc Vreeland bilis bill bil billas billas as is a basis for an enc emergency currency not riot to exceed It is left heft optional with the banks which plan the they select to Increase their currency In time of need The law will expire by limitation in three years when rhen all outstanding currency Issued under inder it will be recalled It is expected expect ed d that within three years a complete revision re of the 1 financial system can cami lie he Ui made under plans submitted by h he tho currency committee authorized b by bythe the he present session of congress I in lit Views s The Tho bill is purely a compromise m neasure drafted to meet the situation hat that has developed The senate willmot will not mot tal take e an emergency ency currency on the he assets of ot banks the house refuses to o 0 acc accept pt an any legislation that contemplates contemplates con con- templates a bond emergency Issue The new mew bill provides provIdes' both hoth channels through which emergency currency may nay bo be secured and leaves the bankIng bankIng bank- bank Ing ng followers of each cach plan free to tc elect bet which they shall shaH accept With he the bonds as a a. basis the government will VIII be responsible for currency with the he assets of the banks hanks as a basis basl th government will supervise the Issue but Ut assumes a umes no r responsibility S Senator Hopkins is a member of ot the senate canto finance committee but ha haaken taken aken no active partIn time the conference looking In to agreement on currency le leg His Ills advocacy of the pros pres ont nt bill tends tens to disarm the n adherent ur t the rival plank plan who have aUgne themselves In fn hostile camps and In In bitter hitter criticisms He ha submitted his plan to Senator inI tied bond I n IH time tim th Jy an f iC Iw T t e J. fg 14 l C if o p rov t bill in hi th that t he believes believed It th anI anly possible legislation that thai can past pas Xe He Is Js working now oft on the time house homm finan lal ml load leaders era to get I thorn thom to agree agree- l t lits tc its Is passa passage c Ills success Is not known jut but ut during Friday an and Saturday a th the thu speaker rep repeatedly asserted that con- con ress would pass jass emergency legislation before adjournment lie ha lint the efforts of or the house lea leadEs lead lead- MS ers Es to definitely determine on some ill Tuesday President ent Roosevelt agrees rees with ho the speaker Senator Hopkins and other ther leaders In congress that an arm nc currency law should be enacted before betor a |