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Show FOUR REGIONAL RESERVE BANKS IS AGREEMENT After Two Years the Federal Reserve Board May Add As Many As May Be Deemed Necessary. Washington. The senate hanking and currency committee on Friday tenatively agreed on four regional reserve re-serve banks for the proposed new currency cur-rency systm, with a provision that after af-ter two years the federal reserve board may add as many additional banks as , it deems necessary, not exceeding ex-ceeding twelve. The pending bill fixes the number at twelve and it has been understood that the administration administra-tion would not consent to have it reduced re-duced below nine. The sharp reduction in the number of reserve banks was the first radical amendment the committee has agreed upon and it was earnestly opposed by the administration supporters in the committee. Senators O'Gorman and Hitchcock, however, voted with the five Republicans for the reduction, leaving but five Democrats, Owen, Pomerene, Hollis, Reed and Shafroth behind the administration proposal. |