The Washington times., 1912-12-30
TAFT MAY O|VULGE
DATA ON BANKS TO
HOUSE COMMITTEE
May Direct Comptroller to
Act, II He Desires, Wick
ersham Holds.

President Taft has power. II he Dc.
sircs. to give the House money trust
committee all data now in posrsssion
OF the Comptroller Of the Currency a.
10 national banks. and he also hus au-
thority, In his discretion. to direct tnat
ofclal to collect certain Information.
fhis was the substance OF Attorney
General wickersham's opinion, made TO
President Taft on November . and to-
day made public by the Attorney GEN.
eral In order. nc said. to clear up CON
fused and erroneous statements circu-
lated during the last few days.
Tho opinion. which formed the basis
for listter written BY the President
TO Attorney Samuel UnteI meyer. coun-
rel for the Pujo investigating commit.
tee, reserved any, expression Of opinion
- % the propriety Of giving this inf"r.
nation to the Investigators. On Decem-
bsr II, President Taft. acting on this
opinion, wrote Untermyer, .Wtckersham
stated. that he DID % not tnink x y ~. prCpSr crs.
rency TO make an investigation 10 se.
cure for the committe facts not IN
the possession Of the Comptroller. bear.
irs upon the inquiry OF the committee
President Has Discretion.
wickersham's brief detailed that Un-
termycr's request was for data showing
character of transactions In which GER
tain Of the leading national banks OF
the country have been engaging. such
a. the promotion, and underwriting OF
securities on behalf Of syndlcates; In
stances in which they have acted a.
what are known a. issuing houses Tor
sale of securities to the public; trans
actions BY the banks made directly or
indirectly With their officers and dlrcc-
tors. and with corporations In which
su.h officers and directors were largely
Interested; purchases and sales o. ponds
and shares Of stock by the barks ana
sceSsSm: Sas s9s owned rS 81
Wickersham's opinion dec'aiss II
would appear that but little IT this e.
formation ts now In the Comp;roiicr
hands. ~. 10 "i;'her tnat otncTa ";ns ;s,
d Scloss sG.h Information as nc ms tne
ATTORNEY General stated:
"Nowhere In the law 70 there any ex-
press provision that the Information ac-
auired by the Comptroller shall be con. Or.
'nssTs.s, fasn.s %s tse S s1S require
cd, you have the right to refuse to dl.
yulge II, yet. I am clearly OF
The view that hat. 4 III. IN SIn,on 10 ths
House committees. you have the lawful
power to do So"
Turns On Its Usefulness.
As to whether the President has
mower to order the Comptroller to COL
icct information desired by the com
mittee. the decision says:
"If . . you believe that any IN.
.Sormatin outlined BY Mr.. Untermyef
should be. obtained Snd considered By
the Comptroller in the. performance q, q
his duties, in my opinion you may may a, !,
has been obtained for this Legitimate
purpose, you may. Il you deem proper.
direct him to furnish II to the House
committee. II. however. neither you MOI
the Comptroller believe that such IN.
formation II useful or necessary to him
In the performance Of his duties. you
could not properly direct him to pro-
sxpress no opinion as to tn.
propriety Of furnishing to the HOUSE
Committee any Information gAthered BY
the Comptroller. am informed thai
It h.. been the custom Of his office t.
formation as confidential. But as t.
the wisdom Of applying this rule in the
nresent instance, the Secretary Of thu
treasury. and the Comptroller. can bes'
advise you."
Wickersham's opinion also held tha,
the House resolution directing thu
Comptrollers cooperation with the
Committee has no legal effect" be-
cause tho Comptrolier's duties may moi
thusbe lessened or increased by reso.
luton of q single House Of Congress.