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Show CURRENCY BILL BEFORECONGRESS ADMINISTRATION MEASURE PRESENTED PRE-SENTED TO SENATE AND HOUSE BY OWEN AND GLASS. V Several Changes Have Been Made In the Bill as the Result of Numerous Conferences Between President and Party Leaders. Washington. The administration currency bill was launched on the troubled seas of executive consideration considera-tion Thursday when it was introduced intro-duced in the senate by Senator Owen, and in the house by Representative Glass. The house immediately referred re-ferred the measure to the hanking and currency committee. Several changes had been made in the bill as the result of the numerous conferences in which President Wilson, Wil-son, Democrats of the house and senate sen-ate committees, treasury department, officials and committees of bankers took part, following 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 increased and that the ibankers be given representation, no change in this provision was made. The board will consist of seven men to be appointed ap-pointed by the president. In the senate, sen-ate, Senator Cummins contemplates proposing an amendment which would make the hoard an elective body. Reinserted in the bill was the original orig-inal proposition for retiring the present pres-ent bank notes within twenty years and the substitution of additional federal fed-eral reserve notes for them. This eliminates the proposed limit of $500,-000,000 $500,-000,000 in reserve notes contained in the bill as originally made public. In replacing the hank notes the government, govern-ment, 2 per, cent bonds, upon which they are now issued, would be refunded re-funded hy 3 per cent bonds without the circulation privilege. |