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Show MAY DELAY THE ACTION Senator Weeks Introduces Intro-duces a Resolution to Have Currency Bill Go Over Until the December Decem-ber Session Wade Speaks in Behalf of Bankers. Washington, Sept. 4 - A resolution to direct the senate banking com mil to withhold final action on the administration ad-ministration currencv bill until the December session of congress was in troduced today by Senator Wetks of Massachusetts Repubrloan Suites lions by Senator Reed, Owen and other oth-er Democrats on the committee, that they would like to discuss the rescj i ion. resulted In Senator Weeks agree ing that it should gu over until to morro.v without action. He said It? would th n endeavor to force the Ben ate to decide whether It want- l proceed now on currem revision 1,1 to allow the banking committee to conduct hearings until December "There is no emergency (lt n1(- pres ent time that has not existed in ail equal degree for the past two years which would necessitate banking ami i mi. nc') legislation said be Burd;n on Commercial Banks. i-r.stus .1 Wade of the Mercantile Trust company of St Louis, one of the representatives of the Chicago conference of bankers, told the sen ate banking committee today that th administration currency bill won1' put the whole burden of organization on the "commercial banks of tho country. The national banks are simply the commercial banks moving the mer Chandise and the commerce of the no . ...u "Ttiiu Kill tw. i ....I lion. OS sain " m mm iim- i ioh. ignores the great banking strength that has really developed the country - the state banks and trust i ompr.uies that have financed build ing, land development, farming and in tcrnal Improvements Inducements necessary to draw in the state and national banks had an parently been lost flight of, he thougbf Wade declared the Issue of the cur rem y and the handling of the bank reserves should be divided and not joined as in the new bill "It would be a fatal economic mistake mis-take for the government to Issue The pyrren'cy of the nation." he said, "be Cause It would put the government In debt just thai much more than is nee essary." II.- declared the bankers a nu re. I not as hankers but as public spirited citizens In urging the , buiik-.e We say. 'Don't put the credit ol i he government behind this preat Is sue of notes' The time may easily come when the nation's credit will need u the strength rt can com maud tor emergencies." |
