Evening star., 1897-02-12
Mr.. CALDERHEAD'S WARNING
Objections to incorporating an International
American Bank.
Feeling of Unrest Throuxhout the
Whole COuntry-CautiOn I'm Lexfs-
lntion Should he Observed.

1t leaks out that there was mighty live
ly and interesting meeting Of the banking
and currency committee Of the House re-
Gently to consider bill which has been
pending before the committee for some
time, to incorporate the international
American Bank" for which thirteen of the
best-known millionaires of the country are
named as incorporators. Among these are
Cornelius Bliss of New York. Andrew Car
negie of Pennsylvania and Philip D.
Armour of Illinois.
The bill was introduced in December by
Mr.. Hit, and referred to the banking and
currency committee. Chairman Walker
turned it over to special committee of
five. of which Mr. Brosius of Pennsylvania
is chairman. The special committee re-
ported the bill favorably to the full COM
mittee last week. two of the members Gen.
Spalding and Mr.. Cox of Tennessee being
opposed.
The proposition of the bill is to incor-
porate an international bank, with capt.
tai stock of $5,000,OO0, and the thirteen men
named are to act as commissioners to re-
ceive subscriptions. They are authorized
to eAablish eight branch banks in other
countries. The bill has been before the
committee In different shapes for several
years. but has never succeeded in running
the gauntlet and receiving favorable re-
port to the House, because of strong oppo-
sition from republicans and democrats,
many of whom regard 1t as monopoly.
Discussed in Committee.
1t has rever, however, been discussed
with as much interest as the other day,
and has never had the same amount of
politics injected into It. It is still pending,
and is not likely, 1t is said, to be reported
to the House. The politics injected was
not on party lines, two of the most promi-
nent republicans in the House. members
nYV1if 90 inrr fcf~A elr
was during this discussion that matter Of
a somewhat sensational character WIS pro-
duced.
Mr.. Brosius. chairman Of the subcom-
mtttee, argued in favor of the bill. He
was followed by Messrsss Spalding, Calder
head and Cox against, the two former be-
ing republicans. The arsuments of Messrs.
Cox and Spalding were OF 6, strictly legal
nature, but that of Mr. Calderhead re-
ferred to the political wisdom of report
ing such bill to the House.. He took the
ground that it would be q big blunder and
mistake which might, in the end, have
serious effect on the welfare and peace of
the country. He Is a republican from
Kansas and was on good ground to OBJ
serve the discomfort which manifested it
self in the west in the last Campaign. Dur
ing his speech Mr.. CaldeFhead uttered this
serious warning, and It is said to have
produced a sensation IN the committee
room:
Mr.. Calderhead's VEarnfng.
'The whole United States.H he said 'is in
condition of unrest. The underhalf of
the country believes that 1t is injured, and
injured largely by the power Of aggregated
wealth. They actually believe 1t. They be-
lieve 1t to such an extent that large areas
of the country need nothing but leader Of
ability to give us an insurrection. That is
the truth, and that is the political storm
that will follow any attempt, direct Or in
direct. to incorporate the men named here
into private bank with capital of mil
lions of dollars, and the plea that 1. is done
for the benefit of International commerce
will not answer that mob-for it is n mob
which only needs commanding general to
lead 1t. II the leader should happen to
have the military instinct it would mean
civil war;
Mr.. Calderhead went on to say that he
knew the temper of these men, and that
their alleged grievances were to be at
tributed partly to envy of the rich and
partly to the distress OF the lnen who are
poor.
His Own Views.
Speaking for himself. Mr.. sCalderhead said
he personally felt no animosity to men who
had accumulated wealth by means of brains
and industry. He honored men who had
risen to power by their own genius and
named many instances of this kind. There
was an impression in many quarters, he
said, that the aggregated wealth had been
secured by legislation, but he did not be-
lieve this. He thought the laws of the
country fair. His only purpose in saying
what he had was warn the committee
that 1t would make a bad mistake. one
which might lead to serious results. He
said he could see and feel the unrest. and
he thought a man ought to be manly
enough to give warning Of 1t in time.
Mr.. Calderhead's remarks have been dis
cussed freely by members of the commit
tee and are now being talked about by out
siders who have heard of what he had to