The Washington herald., 1911-12-23

| trade and in violation of law" The
Humphrey resolution proposes the cre-
| alton of committee to inquire into the
operations of the so-called Atlantic
Ipool, a combination of foreign steam
ship lines that Mr.. Humphrey alleges
pays rebates to the Standard Oil Com
pany and the United States Steel Cor
poration, and in other ways violates
the anti-Tust laws of this country.
Indicated Affiliations.
In his statement before the Rules
Committee, according to Chairman
| Henry, Mr.. Humphrey presented facts
which seemed to indicate an affliation
of interests between the money trust
and the Atlantic pool. Mr.. Henry thinks
! that the association suggested by the
! Lindbergh and Humphrey evidence is so
| close, indeed, as to warrant the two
resolutions being merged into one
, broad enough no bring both subjects
| within the scope of a single investiga-
| ton.
further hearing on the Lindbergh
| and Humphrey resolutions will be held
before the Committee on Rules on Janu-
AIRY IS. Samuel Untermeyer, of New York,
who addressed letter to Representa-
tive Lindbergh. strongly urging that he
| continue to press for action in Congress
| against the money trust" Attorney Gen
| VIdl "lCkeTSnam ana secretary OF COM
! merce and Labor Nagel will be asked to
appear and give the committee the bene-
! mt Of their information and advice. II
! present plans are carried out the com.
| mittee will. thereupon, draft substitute
! for the Lindbergh and Humphrey resoIu-
tions, and recommend its passage to the
House. Democratic leaders say that the
advice of the Rules Committee will be
followed. In discussing the subject last
night Representative Henry, the chair
man Of the Rules Committee, said:
Made Strong showing.
I'm my judgment Representative Lind
bergh made a strong showing against
the money trust in the presentation
of the case to the Rules Committee. The
case of Mr.. Humphrey against the ship
ping combine was equally strong. Their
statements disclosed facts that the money
trust the shipping trust. and other large
interests are so related to one another
that the resolutions offered by the two
gentlemen might be merged so as to
reach all interests involved Mr.. Hum
phrey's argument in part was that the
foreign shipping combine is In league
with the trunk line railways of the
United States and that these trunk lines
give the combine special rates to in
terior points, that amount practically to
the payment of rebates. It is manifest
TO me at this time that the strongest
committee that could possibly be select
ed by the Speaker of the House should
be named to investigate the money and
shipping trusts. While cannot speak
for the whole Committee on Rules. I am
heartily In favor of an Investigation
along the line indicated. The Humphrey
resolution has a bearing on the proposed |
steamship line to South America The
prospects OF that line have undoubtedly
haa hIi0hNaI 49,
trusts.
People should Know Facts
THE people are entitled to know the |
facts; II there is a money trust. organ |
lied or unorganized. we should find it |
out: II there is not it is Just as important |
to learn the truth. The investigation as |
proposed would. in my opinion, be the |
most important undertaking of this Con-
gress. l do not discount the good work |
that has been accomplished by the Steel, !
Sugar and other committees which have
been admirably conducted, and which |
have attained results of great interest"
The Lindbergn money trust resolution |
was generally treated as a Joke when it
was presented. The general expectation
was that the measure would he pigeon
holed. But taken in connection with the
Humphrey resolution the proposal of Mr..
Llndbergh looms up big in possibilities
In its preamble the I.indbergh resolution
sets forth that the money exchange, de-
posit, reserve, and credit systems are es-
sential to the business relations of the
people with each other. requiring that they
should be administered on a COM
mercial and not a speculative basis" 1t
recltes that the present system of money, |
exchange. and credit entails on the peo-
pie enormous losses, due presumably to
speculation. gambling and manipulation"
The resolution goes on to say that lit
appears that these practices are directed
through well-defined centers- the greatest
of which ii Is believed does now actually
have the power of controlling credit, ex-
changes, and deposits to the extent of
being able actually to bring on business
depression and even business disaster"
Constantly Increasing Power.
The resolution further charges that
there appears to be a constantly in
creasing power in certain individuals and
corporate concerns to concentrate and
control, for selfish purposes, the moneys,
finances, and credits of the people" The
measure provides for an investigation
to determine-First, whether there is a
money trust as alleged; second, whether
there are practices by which the spirit
Of the national banking laws is being
violated In the organization of banks
by the use of the kiting system of notes
Of the organizers, or the use of others
notes through the organizer; third, the
uses to which deposits and reserves are
made by the banks.
Specific charges are made against the
shipping combine in the Humphrey reso-
luton. 1t alleges, among other things,
that this combine controls the practices
End rates of the transatlantic business;
that the combine between here and South
America is a complete monopoly; that
advantages are given the Steel, Standard
OIL and Harvester companies by the |
shipping combine are sufficient to prevent
the competitors of the three concerns
named from competing with them in for
eign markets; that the combine dictates
through what American ports passengers ,
and freight shall pass; that there Is a
union of interest between American rail-
roads and the shipping combine that !
amounts. in practice, to discrimination 5
gainst domestic shippers, &c. Il
OImsted Not a Candidate. H.
Harrisburg, Pa, Dec. 22.-Marlin E. !
Olmsted, who has represented the 1
Eighteenth Pennsylvania Congressional !