Show HoUsE t GENERAL DEBATE ON CURRENCY Bill Republicans Point Out Defects in Plan and Condemn Secret Caucus Methods Y t Sept SaPt- 13 The The House HouseW W vy tonight wound up four days of ot general debate on tho time administration currency bill R Republicans and Progressives Progressives Progressives criticised the measure on varIous various va va- va- va rious points and Democrats lauded It as tho the means of ot evolving a a. safe sate financial system tern Altogether some three score members talked on the bill bUr Tho The Republicans condemned tho the secret committee meetings s and the tho secret Democratic caucus which handled the measure Progressives also found this an Inspiring inspirIng ing theme The scheme schema of or making the time banks of or the country subscribe capital and deposits for the tho conduct of ot tho the proposed proposed proposed pro pro- posed federal reserve banks was condemned condemned con con- and it was as charged that the tho board would become a a. political asset assel Several Democrats joined with the tho minority In their attacks on the meth- meth Continued d on Pago 2 Z Column 2 2 HOUSE CONCLUDES GENERAL DEBATE ON CURRENCY BILL R Rep Republicans P Point int Out Defects in Plan and Condemn Secret Caucus Methods Continued From Page Pas 1 od under which the bill was as Cram framed ed but all aU announced that they would vote for tor the bill The Tho measure will be taken up In de detail detail detail de- de tail for tor amendment Monday and it Is Is- expected the detailed discussion will be extensive But nut under the caucus ac action action action ac- ac tion of ot the Democrats the possibility of ot an any change chango being written 1 Into the measure in the House is remote Chairman Chairman Chairman Chair Chair- man Glass of ot the banking and currency committee who op opened the debate made nade the closing speech tonight H With A wooden tombstone seven seen feet teet tall talland talland talland and four tour feet teet square was raised ra on the floor noor of ot the House today to illustrate Illustrate illustrate Illus illus- an argument b by Representative I Smith of or Minnesota that the adminis administration currency bill would put tho in industry industry In- In labor agriculture and commerce commerce com corn merce merce of ot tho the United States under control control control con con- of ot four tour men appointed by th the part party party par par- t ty in power On the base of ot tho the monument monument monument ment was painted seven circles representing representing seating the tho seven members of ot the federal fed ted cral eral reserve C board proposed by the bill Of or these four according to Mr Smith the secretary of ot agriculture secretary sec eec of ot the tho treasury and tho the comptroller comptroller comptroller comp comp- of at the currency with a fourth member selected by them would control the board The They would change ho he said with each administration and make the board a partisan political Institution On tho the shaft of the tho monument were painted sixty nine different functions described b by Mr Smith as the powers of ot the federal reserve board Plead for Control While Whilo endorsing the principles of or the bill hilI Mr 11 Smith opposed the placing of ot such uch large powers ers in the hands of the board What I contend for tor I Is ii the substitution substitution substitution tion of ot nonpartisan nonpolitical control control control con con- for tor control by banks said heThe heThe he The great political power which PresIdent President President Pres Pres- ident Jackson saw in the first and second see sec ond national banks of ot hlll his day daT were mere pigmies when compared to the gigantic power Imposed on federal re reserve reserve re- re serve board and which by- by bythe the proposed proponed bill hili Is te made the prize of ot each national election If It a a. method or means can be evolved b by which the tho government can maintain control and regulation of ot the banking and currency system and at the same time prevent it from becoming a tool and Instrument of at political pressure and party part expediency it a decided do- do Improvement over the measure now before belore the House A general attack o on the method of putting tho the bill through the House was made by Representative Galloway of at Texas Democrat who protested vigorously against following Wilson and Bryan Bran blindly r 0 rl l I |