AMERICAN BANKING
SENATE PASSES REFORM BILL.
(United Press Association—Copyright) WASHINGTON, July 28.
' The long-debated, complicated Bank Reform. Bill, vitally; revised by Senator Glass was passed hy the Senate by a viva voce vote.
Two Radical amendments were defeated. The first, -which would have incorporated Father Coughlin’s ideas of a central bank, was defeated by 59 votes to 10. The second, advanced py Senator La Folette, which would have prevented the banks underwriting securities, was lost by 39 votes to 22. As approved the Bill tends to centralise control of bank credit in the Federal Reserve Bank.
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Ashburton Guardian, Volume 55, Issue 245, 30 July 1935, Page 5
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96AMERICAN BANKING Ashburton Guardian, Volume 55, Issue 245, 30 July 1935, Page 5
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