New-York tribune., 1912-02-25
House Passes money Trust"
Investigation Resolution and
Has Two Others Be-
fore 1t.
DEMOCRATS APPLY GAG
Only Eight Republicans Vote
Against Inquiry--Amendment
of Sherman Law and Investi-
cation of Alleged Railroad
Monopolies Proposed.
tFrom Tho TriburA Bureau

only two hours debate, the Democrat
of the House finally obtained the adop-
tion to-day. after weeks OF internal
strife, Of resolution authorizing the in
vestigation of the money trust"
Minority members almost solidly op-
posed ordering the previous question,
which precluded the offering OF any
amendments, but on the final passage
Of the bill the majority of the Repub-
licans Joined with the Democrats in
voting for the resolution, although the
inevitable weakness of the inquiry con-
templated by the Banking and Currency
Committee had been fully exploited by
minority speakers.
The Pujo resolution, modified slightly
In the Rules Committee. passed the
House by a vote Of 21G to s. The eight
Republicans voting against the resolu-
tion were Representatives Austin, Can
non. Dalzell. Henry. of Connecticut; Gil
lett, Higgins, Thistlewood and Tilson.
The vote on ordering the previous
question was 16O to 107. and was mainly
along party lines.
Another branch of the Investigation.
to cover any possible violation OF the
antitrust. law. was announced in the
course of the debate by Chairman Clay
ton of the Judiciary Committee. He
said he had introduced resolution en-
powering his committee TO make a com
prehensive investigation Of the entire
trust question. with view TO amending
the Sherman law.
A third resolution, for an investigati ton
Of railroad monopolies. was presented by
Chairman Adamson of the Interstate
Commerce Committee. These are ex-
pected 10 form the basis for the second
and third branches OF the investigation
of financial. transportation and indus
trial affairs
The Adamson resolution recites the
need of thorough inquiry into charges
that the Panama Canal will e used by
trsnscontinental railroads to stine COM
petition in freight rates. 1t is, in part.
as follows:
for the operation OF the Panama Canal that
combinations. conferences conventions
partitions OF ports, traffic routes and va
rious kinds OF agreements exist among the
owners OF vessels as well as in the owner
ship OF terminal facilities in many ports
by and through all Of which the usefulness
and profitable operation OF the Panama
Canal would be impaired and the govern
ment OF the United States embarrassed in
the EFFORT TO carry out its policy OF keeping
the canal free and open 10 the vessels OF
all nations on terms OF entire equality, SO
that there shall be no discrimination in re-
speot TO conditions or charges OF traffic or
otherwise"
1t is charged that the same or similar
danger Is TO be apprehended from threat.
ened efforts of the railroads to relieve OF
prevent loss Of traffic by it's being diverted
through the canal, by operating their own
ships through the Panama Canal for the
purpose OF destroying or lessening compeu-
ton.
1t is alleged that the same danger IA
threatened by the payment or promise di.
rectly or indirectly by certain nations OF
tolls charged 10 their vessels on the canal.
the same to be accomplished by bountIes
Rratuities. subventIons or subsidies. there
by giving to their vessels an advantage in
the conditions OF traffic through the canal
contrary to our policy and contrary to the
interests OF the United States.
Tho "Money Trust" Resolution.
Both regular and insurgent Repub-
licans characterized the language Of the
Pujo money trust" resolution, even as
amended, as weak and without force II a
real investigation is to be had. The
compromise resolution, which the Bryan
ties in the House were finally forced TO
accept through the mandate of the DEM
ocratic caucus, merely directs the Bank
ing and Currency Committee to institute
full Investigation Of the money trust
and to take into consideration "all mat
ters touched upon in House resolution
No. 100 within the Jurisdiction Of said
committee" House resolution No. 4O5
is the drastic Henry resolution, favored
by Bryan and the House Bryanites.
which was defeated in the Democratic
caucus.
The text of the resolution. as adopted.
follows:
Resolved, That in order to obtain full and
complete information OF the banking and
currency conditions of the United States,
for the purpose OF determining what lecis,
lation Is needed, the Committee on Banking
and Currency is authorized and directed 10
make a full investigation thereof. including
tion No. 400. within the Jurisdiction of said
committee and said committee is author
ized as a whole or by subcommittee TO SIT
during sessions Of the House and the recess
OF Congress. to compel the attendance of
witnesses. to send for persons and papers,
10 administer oaths TO witnesses and to- en-
ploy experts. counsel, accountants and
clerical and other assistants
Representatives Norris, OF Nebraska.
and Lenroot, of Wisconsin. insurgent
leaders, insisted that the restrictions
placed on the Banking and Currency
Committee by the words within the
jurisdiction of said committee" would
prevent 1t from making any sweeping
inquiry, and would prohibit It from con-
sidering the operations Of the New York
Stock Exchange. the New York Clearing
House or the shifting of money reserves
by private bankers to meet alleged de-
mands OF financial interests.
Democratic Insineerity charqed.
II charge, and / say 1t advisedIy."
said Mr.. Lenroot, that the Democratic
majority in this House does not want to
have a real probe OF this matter, and
shat il has evaded the Issue by the sub
stitution of this resolution
Representative Campbell, another
minority member Of the Rules Com
mittee. said: From the talk on the
Democratic side We have been led TO ex-
pect that the octopus. this red dragon.
the money trust would be hauled into
this House and manhRV5led while the
galleries cheered. Inso1id. you have
brought in here a wea.-, milk-and water
resolution, which gives tho Banking and