The morning journal-courier., 1908-04-17
SAYS MELLEN WAS
WARNED OF PANIC
Financial Writer Tells House
Committee He Has Unearth-
ed q Wall Street Con-
spiracy,
WILL PRODUCE WITNESSES
Claims Bankers Association Is Schcm.
Ing 10 Get Aldrlch Bill Through
With Joker, Though Oppos-
Ing il Openly.

Washington, April i6.-ln pictures
que language, at times denunciatory,
Alfred Q. Cro2er, of Wilmington Dell
today told the house committee on
banking ana currency that he had un-
earthed secret scheme for q COM
promise on the Aldrich currency bill.
lie intimated plainly that the mem-
bers of the currency commission and
the American Bankers association did
not act fairly with the banking and
currency committee In unanimously
opposing the Aldrlcb bill yesterday.
While opposing the bill ION prn-
ciple" he said. "the members Of that
commission objected to It because the
emergency currency was to bear six
per cent interest, and are ready to
support It now II tho interest Is re-
duced to three per cent.
Last evening our distinguished
banking friends held a conference"
he said. To-day they are having an
other. with the wicked promoters of
the wicked Adrich and Vreeland
bills. What for? They are agreeing
on compromise. On what basis
Just a simple little amendment re-
ducing the tax to three per cent and
some other minor changes
He declared that this conference
was only held after it was stated that
the hearings before the banking and
currency committee had been closed
III this committee had not honor
cd me with this opportunity to speak
at this postscript to the public hear
ing." said Mr. Crozier. "and If one of
the distinguished bankers who address
sed YOU yesterday had not mistaken
me last evening for one of their fra
ternity and unrescrvedy told me the
whole program, the trick would have
been turned quickly and suddenly.
| The business interests of tho country
/ might never have known that they
, had been sold out by their banking
partners; and even this committee
might not in,time have become aware
that the great men who appeared here
against the bill openly, were In fact
favoring it privately,
The Aldrich bill" Mr. Crozler de-
clared. is a gambling game from
start to finish brought here by gamb-
lers and promoted by gamblers for
! gambling purposes.
lie asserted stoutly that he knew
the late financial strlngency was
brought on deliberately by Wall street
men
Il was told IN Wall street that such
a measure as the Aldrich bill would
be brought before this congress ant
that panic would precede It.
MIR Prince suggested that this charge
was a very serious one, and ought no
to be made on opinion but on actua
facts.
MIR Crozier replied that If a commits
sion was appointed he would furnish
list of witnesses to the counsel b.
whom this charge could be proved
As an evidence Of the conspiracy I,
bring on a panic. Mr. Crozier said
prominent financier told the presiien
Of the New York, New Haven e Hart
ford Railroad company that II was t,
w bi'uSll VII Ufl'if lllf IllftllnS u
congress, and on that reformation, h
said, the railroad borrowed $40, 900. OOO
Urged to tell who the financier predict
ing panic was, Mr., Crozier said h
did like to give his name at this tim,
hut would give II to the counsel of an
commission congress might appoint t
investigate the causes OF the recen
financial crisis He predicted that whe
the panic was finally investigated
would be seen that there had been
concentration of banking capital /
New York
In conclusion of his remarks NJ,
Crozier said
"It is Impossible to understand an
reason for thus forcing this UNIVERSAL
obnoxious legislation through congreS
unless some persons high in the counc
: of our party have made some secre
s pledge to the masters Of Wall street [
: put this legislation through and civ
q its dangerous powers to the special In
Y terests In exchange for the support Z
! the malefactors in the coming can
: paicn. If this is what has been dor
and It is persisted in to the extent ,
fastening this dangerous legislation ur
on the country, our party will deserN
the defeat which that course win briu
:. upon It. Every patriotic citizen wi
;, hope that no such unholv and discrot
! table bargain has been made and thu
in the final test the members of II
majority party in congress will liste
: to the all but universal demand of II
. people Of the entire United states ar
will defeat both the Aldrich and II
= Nreeland bills overwhelmingly"
Z Chairman Fowler then Announce
l. that hearings On the AIdrich bill we
a closed.
g After a short executive session II
:, committee adjourned until tomorrow
ic 1880 when 1t Is expected an adverse +
:, port on the Aldrch bill will be agre,
- upon,
J. The Vreeland bill is before the cor
s. nttee and If Mr.. Vreeland should d
=. sire to have hearings on that mcasu
v, he will probably be given an opportu
le ity to present any testimony he desir,
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