The Washington times., 1912-01-30
HOUSE DEMOCRATS
TO CAUCUS ON PLAN.
FOR MONEY INQUIRY
Fight Also Will Be Renewed
for Authorization of Two
Battleships.

Following a caucus last night when
they knocked into cocked-hat the
public buildings bill and the naval in
crease program, the Democrats of the
House will caucus again Wednesday,
February Z, on the Henry resolution to
investigate the Money trust.
At the coming conference Demo-
Gratis who believe in an annual ap-
preparation for two battleships, prob
ably will attempt to get reversal of the
Democratic edict of last night, that
there shall be no battleship authorized
at this session. After four hours OF
~rangling the caucus last night voted
not to support a public buildings bill
Or two battleships, this action being
equivalent to notice upon the Naval
Affairs Committee and the Public
Buildings Committee to retrench hard.
congressman Hobson and other Dem
ocrats who are in favor of two battle
ships today are stirring up sentiment
10 nave the caucus reverse itself at the
next meeting. Some Democrats claim
.hat last nights action is not binding
because two-thirds did not vote against
the battleships and "porkbarrel"
Henry Is Victor.
Congressman Henry, chairman of the
Rules Committee. circulated a petition
today for the Money trust caucus and
obtained the necessary number of sig
natures. Mr.. Henry has practically won
his fight for an investigation of Wall
Street methods. the only thing remain
ing for the caucus to thresh out being
the form of probe. Congressman Cn-
derwood and some other Democrats are
still insisting that the investigation
ch he -;oI
on Banking and Currency, or some other
standing committee of the House. Mr..
Henry insists that the probe shall be
conducted by carefully selected special
committee.
The Henry resolution to investigate
the. Money trust was introduced yes
lerday, by the chairman of the Rules
Committee. as substitute for the
I.indburg resolution. 1t contemplates
sweeping inquiry into the New York
stock Exchange, the New York Clear
ing House Association, national banks,
and other moneyed institutions con-
troled through stock ownership or per-
sons who have interests in other SINH
lar institutions. railroad and industrial
interpretations; the method of market
ing securities. and Wall Street financial
institutions in general.
Stand for Economy.
Chairman Fitzgerald, of the Appro-
priations Committee, and Chairman
Underwood, of the Ways and Means
Committee, opposed the pork barrel"
on the ground of economy at the
caucus. The Public Buildings Com
mittee stood almost unanimously in
favor of such a bill.
After four hours of heated oratory
and much wrangling, Congressman
Burnett of Alabama, proposed an am
endment to the Fitzgerald resolution,
,i.tx ,.<xGx.
sense of the caucus that there shall be
no public buildings bill at this ses-
sion" Mr. Burnett took the caucus by
surprise by adding land no battleships."
The amended resolution was put on
its passage and by by vote of 9S to
6S. the Democrats struck blow at a
larger navy as well as at public build
ines.
The siXty-eight defeated Democrats
are confident that the party has made
mistake. The country. they say. Is not
in sympathy with plans to eliminate
the navy increase. whether this is done
on the plea of economy or otherwise.
Estimated Saving.
The Democratic economists of the
House figure that they have saved Si0,-
100000 through their action of last night
Two battleships will cost upward Of
$20,O0O,OOO. and it was intended by the
Public Buildings Committee to report
out a buildings bill of at least SIG, 600, 900
Many of the Democratic leaders #
the House voted for the Fitzgerald
Burnett resolution. Among those who
knocked out the battlehsips and the
pork barrel" were Speaker Champ
Clark. Congressman Underwood ma
iority floor leader; Burleson. Fitzger-
aid, SulZer. Adamson, Stanley, James
Hughes, Rainey, Richardson. Sheppa I'd,
Sherley, Palmer. and Henry