New-York tribune., 1908-03-17
BANK INQUIRY ORDERED
1T NAY BE FAR REACHING.
Tilmnn Resolution 4dopted By Sen
ate 4fter Sharp Debate.
From The Tribune Bureau.l

Washington March 16.-An investigation of
r.ew York banks. as well as those in some other
parts of the country. is likely TO follow the
adoption by the Senate to-day of the Tillman
resolution instructirg the Committee on
Finance TO investigate various things connected
with banking including whether national
banks are now engaged, by themselves or
through other organizations. in attempting TO
control or dictate the legislation OF Congress
upon currency matters"
The resolution also directs inquiry as to
whether banks in New York and other cities are
in the habit of furnishing capital for speculative
enterprises under the guse of commercial loans;
whether the Treasury Department had knowl-
edge of the loans made by the National Bank
of North America; whether any legislation can
be devised to prevent controllers of the cur
rency from making their office stepping stone
TO employment by national banks, and whether
national banks are employing trust companies to
conduct for them business which they are
legally prohibited from transacting-
There is reason to believe that the Finance
Committee will first its attention 10 the pro-
vision first quoted and thoroughly investigate
rumor to the effect that New YORK bahk Is
CARRYING the long time loan of high offclal OF
the Ne,-- York Merchants Association amount
ing to approximately $.NDHN, and that thiS
hank recently indicated to that official that
unless he could see MS way CItdI 10 eAei' III
influence of his association in support of the
Fowler bill and in opposition TO the Aldrich Dill
the condition of the fl anciai situation would
render imperative hi tahI1g UP considerable
mart of the loan OF course, this IS only
rumor and will form only part Of the lnVes-
tigation which will also seek to develop whether
or not the bankers have not exerted all thef
influence toward promoting the Fowler bill l"
this end it is probable that number OF New
York bankers will be summoned TO Washington
and required to testify before the Finance Com
mittee.
The adoption of the Tilman resolution was
preceded by a characteristic speech by the Sen
ator from South Carolina, in which ne gave
vent to his long cherished animosity 20 the
President in that picturesque phraSeeolosE
which is his specially and which always results
in crowded galleries whenever 1t Is known tha'
he will take the floor. Proba bly, the expression
which caused the most amusement was ME-
Tillman's declaration, in connection with MS uiS-
cussion of an employers liability bill which ne
baIieves is being prepared at the White House.
that We will watch with great interest to see
who will he the spaniel Senator to retrieve this
nearI Of executive wisdom and carry it to the
Senate"
Mr. TfIIman's vituperative eloquence was not
however permitted to pass unchallenged or un-
answered. for Senator Beveridge trained his pat
teries and poured raking fire of oratoricai shot
and shell on his South Carolina antagonist which
aused that warrior to beat sullen retreat as
he vas successfully placed in the position OF de-
claring that the majority OF the people We're
Ignorant and debauched," that with Demo
cratic President and House the country would
he saved from the evils of wild legislation BY
= RepuhIican Senate and finally pleading that
with i Republican administration there would
follow a policy of legislative idleness or at best
compromise
TIILNAN ATTACKS PRESIDENT.
The subject of Mr.. Ttllmans speech was exec
utiye encroachment on the legislative branch
of the government. and he traced what he
termed d swinging of the pendulum from the
time Of Andrew johnson. when Congress
suroed control almost TO the exclusion of the
President from legislative influence. 70 the ad-
ministrations that followed. which he declared
witnessed a growth of Presidential power. The
dominating influence and control of the execu-
tive branch. he said. over the legislative and IN
a less degree over the Judicial branches of the
government were the most marked features II
American politics to-day
Freedom of debate in the old and true sense
had disappeared from the House end of the
Capitol he said. In the Senate "servihty and
cowardice are the order of the day" he declared.
and while freedom OF debate still exists. the
shadow of the Executive hangs over all and the
Presidents wishes are almost the only law.
There is some show of resistance on matters
affecting the multi -mi!lionaires and the great
corporations. The President writes scOdng
messages and makes inflammatory speeches ap-
pealing to the unthinking and ignorant masses
He has the potent influence Of the press at his
command; he has used the newspapers and
magazines in exploiting what he calls my pol
icies' with a skill and daring that compel ad-
miration With bated breath Senator's denounce
his radical ideas in private and oppose in every
Continued third