Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1911-08-12
SCORE MONETARY COMMISSION
Sharp Criticism in Debate Over Bill
Demanding Report
BURTON ADMITS ExTRAvAGAECE
Senator Cunufns Charges Report ~
Delayed ny Organization AFTER
Expenditure of Much Money
and Time.

WASHINGTON, Aug u.-ViEorous at
tack on the National Monetary commits
sion was made in the senate Thursday dur
ing the discussion Of a bill introduced by
Senator Cummins Of Iowa, calling on the
monetary commission 70 make It's final
report to congress by December 4 next.
after which IL would be dissolved.
Senator Cummins charged the commits
sion with unnecessary extravaganza and
with delaying a report on the result OF
its investigations. and Senator Hepburn OF
Idaho asserted that from both a partisan
and national standpoint the original APP
pointment OF the commission was a mis-
take.
Senator Burton. a member OF the COM
mission. acknowledged that the body prob
ably had been extravagant. To remedy
this he said he would offer an amendment
disseminating at once the salaries Of those
members OF the commission who are not
IN congress. This would reduce the ex-
penses OF the commission by So. 500. year
as eleven Of the eighteen members Of the
commission are former members Of con-
gress. Active members OF congress. who
are also on the commission. receive no
extra compensation.
Wants Commission Continued.
Senator Burton expressed the opinion
that the commission should be continued
because he said II would not be able to
make q complete report by next session
and because of future financial questions
upon which It viii be able to give valuable
advicaa. He said he would offer an amend
ment 90 have a report made January 10
next
Senator Nswiands Of Nevada said there
werS a number Of special financial ques-
tons upon which he wanted the commits
sion TO report He said there were mat
ters concerning the advisability OF organic
ing associations Of national banks in each
state for the mutual protection of bank
deposit0rs against panics and OF bringing
these associations into a national fedora
ton through a national banking commits
sion with the secretary OF the treasury as
chairman. He said he would give this
commission powers OF examination, correc-
ton Of evil practices and recommendation
to the president and congress and expect II
to perfect q cooperation with banking
commissions of the various states. Mr..
Newlands wanted a report on the advis-
ability Of preventing national banks from
depositing any portion OF their reserves
required by national banking laws.
The debate on the bill had not been
concluded when the senate adjourned
Cummins Scores Methods.
Mr. Cummins declared that after NOR,
than three years OF existence and aftel
having spent nearly S250.0o0. the commits
sion should be able to report Senator
Cummins said that some OF the employees
of the commission were on the govern
Inent payroll in other capacities. H
pointed out also that the commission hat
gathered q large library OF financial In
formation. had paid for the writing OF
numerous monographs on various phases
OF the financial question and that with al
this information In its possession. con
gress ought to be able to act
The commission travelled In Europe anG
spent $4,000 studying foreign banking sys
TENS" said Mr.. Cumr1ins. IT spent SONS
time at Narragansett pier, q place wher'
Il ought to have been able to concentrate
ma thoughts on financial matters"
Senator Hepburn criticised the commits
sion.
Some of the literature they have pre-
pared" he charged contains no more in
formation that will be useful in the sen
ate for the passage Of financial legisla
ton than the Arabian Nights"