Arizona republican., 1908-03-18
IA FOLLETTE'S OBJECTION
 TO THE ALDRICH BILL
Based Upon His Understanding That Ger
 tain Bankers Want Ii
He is Urged by the Author to Discuss the Merits Ot the Measure Rather Than the Wishes and Beliefs of Men.

Washington, March 17-After speak ing two and half hours in the senate today on the pending currency bill, Senator La Toilette asked permission to suspend his remarks to conclude tomorrow as he was unable to continue longer
 Aldrich had reported to the senate from the committee on finance amend ments to the currency bill, exempting railroad bonds from the classes of bonds to be used to secure an emer- gency currency; limiting the retire ment of such currency and providing that such issues should be permitted up to the par value of bonds used to secure them.
 The legislative. executive and ju- dicial appropriation bill was consider ed at length.
 What I have to say is more perti- nent, if possible by the action taken during the day with respect to the Aldrich bill' said MT LaFOllette. be- ginning his speech in the senate. on the currency bill today. His reference was to amendments made to the bill by the committee on finance.
 Speaking of Morgan and the Stand ard oil banks and looking across the chamber toward MT. Aldrich Mir. La Toilette declared:
 T will show the connection of these great groups with the bill pending here not withstanding the dextrous with drawal of the proposition to incorpo- rate railroad bonds in the bill"
 MT. Aldrich said the most earnest objection to the bill was made by the National City Bank of New York. and that Mir. Vanderhp. vice president of the bank, was opposed to the measure. Tt is he declared. mot only opposed by tho bank. but by all the banks in New York received this morning a statement from the New York Clear ing House association, saying that We would better have no currency leg- islation at all, than have this bill. stating the reasons why we should have an asset cugrency. I know of no hank or banker in favor of the bill. The fact is the banks throughout the country are against it. The senator from Wisconsin has studied the situ- ation to little effect if he has failed ]. lO -tdfn lildl.
 ''I will inquire" retorted LaFollette. what the position of Morgan is.''
 T do not know" replied Mir Aldrich "I know that Morgan is man of ex- perience. wise judgment and patriot ism. and 1 should feel gratified if he approved the bill"
 Perhaps" replied LaFollette in a tone of sarcasm, in some way the chairman of the finance committee may be able to find out where Nor gan stands" His cOuntenance beam ing from the gallery while the senator from Rhode Island spoke on the mea- sure rather indicated that Morgan was the head of one of these groups. not entirely averse to the propositions em- braced in the bill.
 T suppose" said Mir. Aldrich. ''the senator from Wisconsin will agree with me that the proposition should be dis cussed on its merits. as to what it will do. and not the view as to what men of position like Morgan think of It.
 Let me say" replied LaFOllette. you cannot always tell from the lines of bill. l should say that the propOsi- ton to withdraw the provision to in- corporate railroad bonds in the bill throws a flood of light upon. the pur- pose of the legislation. Let me say to the senator from Rhode Island further that it is not beyond question that these great organizations might put out here or there criticisms of the pro-