The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-02-03
Chairman of Banking and Currency
Given a Verbal Playing by IL. u.
johnson. of Indiana.
M'KlNLEY ALSO CRITICISED
FOR NOT URGING "FULLEsT MEAS
URE OF CURRENCY REFORM"
The Hoosier's Remarks Resented by
MIR. walker, who said He Might
Regard Them as "PersonaI.'
Special % the indianapolis Journal.

Special 70 the indianapolis Journal
WASHINGTON, Feb 2--Chairman Walk
er, OF the banking and currency committee,
and Representative Johnson had heated
colloquy at the committee meeting yester-
day. Mr.. Johnson asserted that Chairman
Walker was pursuing ''rule-or-ruin" pol
icy as to the line of currency action the
committee should take This was resented
by Chairman Walker. Mr. Johnson subse-
quently opposed Representative Hills mo-
ton 10 take up the measure embodying the
Presidents recommendations as to three
specific changes in the banking laws lie
declared that he questioned the faith of
those who We're urging a limited measure
of revision He thought they were too
| much concerned in the annexation of Ha-
waii to give sincere support TO the full ac-
complishment of financial reform. Mr.
Johnson expressed his regret that the Pres
ident had not earnestly urged the fullest
measure of financial reform.
To-day is not the first or the twentieth
time that Chairman Walker has undertaken
to overrule the committee and to bully ii,
and Mr.. Johnson is not the first member to
revolt. Rows in the committee are of fre-
quent occurrence, and one of the unvarying
accomplishments and incidents of these dis
|
on the part of the chairman. He put him
self on record to-day as irrevocably OPP
posed to any bill pot his own or on the
same lines. and as there is no other such a
creation in existence. the announcement
was tantamount to a declaration that he
would fight anything that might be pro-
posed or that might be reported by the COM
mittee. Mr.. Johnson's denunciation of this
declaration aroused Chairman Walker to a
high state of excitement and led to a sharn
controversy between the gentlemen, in the
course Of which Mr.. Johnson turned the
Walls of his dspleasure and dissatisfaction
on the President.
The scene between Messrs Walker and
Johnson was not more exciting or demon-
strative than many which have preceded it.
but especial attention is drawn to it be-
cause of the demoralized condition of the
committee and of the growing ill temper in
| that quarter. The level-headed members
who have been struggling to get committee
| agreement and action feel keenly the hu-l
initiating position the committee has been
placed in by the long wrangIe over irrecon-
cilable differences. The demonstration to-
day only serves to bring the committee more
conspicuously INTO the light. 1t has served
one useful purpose, however, for the COM
mittee decided this afternoon to report any
bill on which a majority could agree. This
has been the understanding from the first.
but it was never settled by vote until now
The prevailing House view Of the banking
and currency committee is that 1t has had
its day at court and that there is small
chance of getting consideration for a bilf
If it ever makes report. The committee
has lost the respect Of Congress, and it will
be a marvel If any proposition emanating
therefrom will be indorsed by the House.
This is humiliating and distressing PROS
pect for currency reformers to contemplate
after all these months OF weary work.
An Associated Press dispatch says that
Mr.. Walker resented Mr. Johnson's charga
that the chairman was pursuing "rule-or-
ruin policy by saying he would regard the
Indianian's course as personal if it was per-
sisted in. Later" the dispatch says "Mr
Hill, of Connecticut, moved to take up the
measure embodying the Presidents recon-
mendations as to three specific changes in
the banking laws. This again met warm
opposition from Mr.. johnson, who said
action of this limited character would be
antagonistic to the largest measures of cur
rency revision now pending before the com
mittee. In vehement tones he questioned
the good faith of those who were urging a
limited measure of revision, saying that
they were too much concerned in the an
nexation of Hawaii to give sincere support
to the full accomplishment OF financial re-
form. With much feeling and emphasis
Mr.. johnson expressed his regret that tha
President had not earnestly urged the full
est measure of currency revision instead OF
the limited plan now brought before the
committee. Owing to the feeling aroused
on the subject final action was not taken on
the motion to proceed with the Presidents
recommendation and the Republican mem
hers determined to take up this and other
subjects later in the day when the Demo-
cratic members were not present.
without objection the committee deter
mined to report favorably Representative
Coxs bill to promote the safety of national
banks. The essential Seature of the meas
ure is a restriction on bank officers from.
borrowing the funds Of the bank, and thus
crippIing it, 1t provides that no such loans
shal. be made until a majority of the bank
dir approve it. 1t also prohibits the
overdrawing of accounts by the president.
directors and other officers of banks. Viola-
tion Of the provisions is made a niSde-
meanor, subject to fine or Imprisonment. Au
the caucus Of Republican members of the
committee during the afternoon ii was
agreed to go over the several bills before
the COMMITTEES with a view to agreeing upon
the general principles of measure to be re-
ported"
Republican members of the Indiana dele
cation feel none too good over the report
sent to Indiana that they We're "lined up
by Representative Johnson TO vote against
the Teller resolution. one OF the delegation
said by way of indignant protest. this
afternoon: I'VE haven't anything TO say
against Mr.. Johnson. we think he is q
bright, smart man. but we object to having
the impression created in Indiana or any
where else, that he is any better Republican
than his colleagues. that il was neces.
sary for him or anybody else to line uA
up AS a matter of fact, Mr.. Johnson did
not attempt anything of the sort, and any
such effort would have been resented II he
had. The statement ought not 10 go with
out notice from us or from some one speak.
ing on behalf OF the Republican delegation
as it is unfair to them"
Representative Hemenway. who has had
charge OF the fortifications appropriation
bill. having got that measure of his
hands. is preparing. IN company With the