The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-03-18
ALDRICH BILL
DENOUNCED BY
La TOILETTE
Interesting COIIoquy With the
Author of MakeShift
Measure.
WISCONSIN SENATOR
EASILY THE VICTOR
ONE MORE REPUBLICAN WHO
DOES NOT WORSHIP AT THE
SHRINE OF MORGAN.

Washington, March 17.-"What I
have to say is made more pertinent, if
possible. by the action taken during
the day with respect to the Aldrich
BILL" said Mr. La Toilette in beginning
his speech in the senate on the cur
rency bill today. His reference was to
the amendments made to the bill by
the committee on finance.
Speaking of the Morgan and Stan
fdard Oil banks" and looking across
fthe chamber toward Senator Aldrich,
MIR. La Toilette declared:
Il will show the connection of these
great groups with the bill pending
here. notwithstanding the deXterOus
withdrawal Of the proposition TO in
corporate railway bonds in the bill"
Aidrich Butts in.
Mr.. Aldrich said the most earnest
objection to this bill was made by tire
National city of New York, and that
Mr.. Vanderlip, vice president of uhdt
bank, has opposed the measure.
1T is," he declared, mot only op
posed by that bank, but by all the
banks of New York. l have received
this morning a statement from the
New York clearing house association,
saying We would better have no cur
rency legislation at ALI than have this
bill, and stating reasons why We
should have an asset currency.
know of no bank or banking man in
Eavor of this bill. The fact is, the
Banks throughout the country are
against it, and the senator from Wis
consin has studied this situation to lit
tie effect if he has failed to learn
that
Reply Much to the Point.
Il will inquire" retorted Mr.. la Fol-
Iette. what the position of Mr. Nor
gan is?''
yThere was a chorus of laughter in tne
galleries.
Il do not know" replied Mr.. Aldrich
al know Mr.. Morgan is a man Of wide
experience and wise judgment and
patriotism. and l should feel gratiiied
if he approved this bill"
Perhaps" replied Mr.. La Toilette,
in a tone of sarcasm. lin some way
the chairman of the france committee
will be able TO find out where Mr.. Nor
gan stands. His cOuntenance beapjng
from the gallery of this chamber while
the senator from Rhode Island spoke
on this measure rather indicated that
Mr.. Morgan. the head of one of these
great groups. was not entirely adverse
10 the propositions embraced in the
bib
IL suppose" said Mr.. Aldrich. the
Anator from Wisconsin will agree with
rie that this proposition should be dis
cussed on its merits as to what il viii
do, and not i'm view of what men in the
position of Mr.. Morgan think Of it,"
Reasonable Suspicion.
let me say" Mr.. La Toilette re-
piled. you cannot always tell from
the lines of the bill l should say the
proposition to withdraw the provision
TO incorporate railway bonds IT. this
bill throws a flood of light upon The
purpose of this legislation. Let me'say
TO the senator from Rhode Island, fur
Their, that it is not beyond question
that these Great organizationY might
put out here or there criticisms Of this
proposition TO give color to the idea
that there is no great and mighty
lower organized behind this legisla-
o. talking for two and = hal,
hours, Mr.. La Toilette found himself
unable to continue further and sus-
pended his remarks until tomorrow.
by senators exAnding their eongratu-
lations, most of them being from the
Democratic side.
la Follette's Speech.
There were no commercial reasons
for a panic" said Mr.. La Toilette.
There were speculative, legislative
and political reasons why a panic
might serve special interests. There
were business scores to settle. There
was legislation to be blocked and a
currency measure suited to the system
to be secured. There was a third term
to -oe disposed Of and policies to be
discredited.
a panic came. I believe that il
needs only TO be followed step by step
Continued on Page 5.