The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1908-02-11
Depew Carries Financier to
Gallery and in Speech
Praises Him.
MORGAN MAKES PLEA
FOR CURRENCY BILL
In Strong Argument, Heard With
Interest by Many Financiers,
He Urges Importance Of
Such Legislation-NIr.
Leakc Scores
Bryan.
Times-pispa.ch Bureau.
aullsey .bulldtnC.
Wa shipgtan- d. c. Ech

i Times-Dlspa.ch Bureau.
l Munsey Building
l Washington. D. c., Feb. TO-
i There was interest in the proceed.
ings at both ends of tho Capitol to-
day, though no heavy legislation was
enacted. In the Senate the Aldrich
currency bill was discussed for an hour
or more by it's author, and Senator De-
pew, after escorting J. Picrpont Nor.
gan to the Senator's private gallery,
where he occupied seat in Vice.
President Fairbanks's row. proceeded
to take the floor and deliver q real
Chaunceyesque eulogy upon the high
patriotism Of Mr.. morgan in coming
/ to the aid of the situation in Wall
Street last fall and preventing tlla
most disastrous panic in our history.
Mr. Morgan took it all In and appeared
totally obllvious OF the gaze OF Sena-
| tors from the floor and of spectators
in the gallery. 1T was quite notice
able that Mr.. Morgan paid far closer
attention. however, to the speech OF
Mr.. Aldrich than to the empty eulo-
gism pronounced by the senior Senator
from New York. Senator Aldrich
talked business; Senator Depew
gushed.
Fornker's Heavy Artillery.
Senator Foraker, in so far as any
body outside of the White House can
confer that honor. formally and EN-
phatically invested the President with
the honors of the Order of knights
of Ananias. The Senator from Ohio
entertained the Senate and crowded
galleries for the better part of an
Wi n nj fN va rot
from the White House that the Presi-
dent had not used Federal patronage
to further the interests of Secretary
Taft's presidential contest. The speech
was calm and dignitied. but 1t was de-
livered with all that emphasis and
force for which Senator Foraker Is
noted.j His words were well-chosen
and spoken slowly. They fell like tllir-
teen-tnch projectiles. There was no
heavy artillery. Every shot struck the
Taft fortihcations. The latter's works
were badly damaged, II not demolished.
Lcakc Denounces Bryan.
In the House the Democrats. one
of them, furnished the entertainment.
Eugene Walter Leake, of the Jersey
City district, managed, after strug-
gle, to get the time in which to de-
liver three-minute speech denuncla-
tory OF William Jennings Bryan and
Theodore Roosevelt He accused the
one of having stolen the big stick
from the White House and using 1t to
coerce the Democratic party into de-
claring for everything for which he
himself stands. while he charged the
other with using the big slipper to
spank his party into subsection and
the American people into believing
with him. Bryan was dangerously near
to socialism. he thought, and Roose-
velt was dangerously radical.
The speech caused some kissing
among Democrats. and the denuncia-
ton of Bryan, while received by Demo-
Gratis inslence. or with that sibilant
expression Of disapproval mentioned.
was applauded on the Republican side.
But 1t was noticeable that the attack
on Roosevelt was received in dead si-
.lence. Neither Democrats nor Republic
cans gave any evidence of approval or
disapproval. Nor was any applause eX-
cited by the tribute paid by the speak,
er to the managers OF the railway sys-
TENS of the country. nor his praise of
the American business man. 1t looked
as though Mr.. Leake, in hts maiden
effort, succeeded in making both sides
of tho House mad.
senator Alarlch's Speech.
Senator Aldrich, chairman OF the
Finance Committee, spent an hour dis
cussing his currency bill. Mr.. Morgan.
like the large number Qfsother bank
ers present, gave him very close at
tention. ss::t*
Characterlzing the recent financial
crisis" as the most acute and destruc-
tive In It's immediate consequence OF
any which has occurred in the history
OF the country. Senator Aldrlch de-
clared that nothing but the heroic
measures taken by the representatives
of the great business and financial in-fi
terests of the country, acting In co.,
operation with the Secretary of the
Treasury, prevented a total collapse
of private credit and a disastrous de-
structIon of all values'
Relief in such an emergency. should
1t recur he thought, could only be at
forded through the authorization Of
additional notes, to he used only In
emergencies.
THE remedy we provide Is simple,
prompt and efficient" said Mr.. Aldrich.
AT any time within forty-eight hours.
If an emergency requires 1t, $500000.-
eco of new nancy can be put into the
channels of trade to allay public ex-
element and to meet extraordinary
demands.
Ihere should be no mlSunderstand-
ing az to the sole controlling purpose
of this bill 1t proposes by its provi-
sIons to prevent panics and furnish tho
means OF relieving panic conditions.
1T Is to give the national banks
the means of accomplishing by legal
methods that which. In this crisis. they
felt compelled to accomplish by ille-
gal and destructive methods. to tha
great loss of the country.
'''rhe measure We offer can be sup
norted without q violation OF eGnvic-
tions by those who believe in a Gems
trail bank OF issue. or by the adyo-
Gates of an asset currency"
Throughout the delivery of his ads
dress Mir, Aldrich was accorded care.
full attention. and upon closing he
was surrounded by his colleagues. who
rendered their congratulations. AT ma
tin1;, WAS he In tnrruptad, aud NO one M