The Birmingham age-herald., 1912-03-10
CURIOUS PHASES OF MONEY TRUST PROBE Nobody Seems to Know
 What Money Trust Is HAVE "PROBE-ITlS"
Democrats Are Trying 10 Prove That Certain Wall Street Men Have Control of Nations Money in
 Their Own Hands
By SIDNEY EsPEY

By SIDNEY ESPEY
 Washington, March 9--(Special--The investigation of the money trust, which has gained the reputation this winter of being one of the most formidable hobgoblins in the financial and trust world of big business and incidentally the only world of progress along prac- tical economic lines. has recently as- sumed peculiar position in the state Whether 1t is an orphan or the ward or d half dozen committees seems to. be rather uncertain question:
 First Of all, what is money trust? That is one of the things to be in vestigated. Nobody seems to know ex- actly what a money trust is, but all the members of the House, on the demo- cratic side at least,t are agreed that there is such thing, and, if not, such a thing must be made, if for no other reason than to provide something which may be investigated. The democratic House is sadly afflicted with probe itis," which is a disease similar to tape worm, but one more menacing in that it does not confine its ravages to a single being but rants about the earth seeking whom it may devour. The republicans are of the sanguine opinion that sooner or later the monster will choke to death, either on butter or perhaps oleomarga rine, or even on money. The latter event should, perhaps, be qualified with a word in the proper place, for 1t Is all ways necessary to guard against charges of libel, and the wicked feeth when no man pursueth." Many mouths have been stopped with money, how ever even if the victim does not choke to death entirely.
 What the would be investigators be- lieve the money trust to be and what 1t is, if there is such a combination, Is q group of men who get their mail at ad- dresses on that little street in New York city which bases it's claim to dem ocratic simplicity, on the contention that 1t took it's name from some ante French and Indian war or Dutchmans g barnyard fence 1t is commonly believed by a large ma ajority of the people of these United States that the great capi- tai of the country is controlled by Wall street. Many people have an idea that the actual money is tied up in neat packages and slowed about the Wall street offices. That, however, we have been led to believe is not the case Wall street does, nevertheless exert considerable control over the money of the country and can doubtless say just how much of 1t shall be used. That the street can control all of the capital, however, is probably without the realm of reason. There will still be few nickels to be picked up now and then in such places as Salt Lake City and
 srSe men who believe the particular line of patriotism for them to pursue is to hunt the money trust to its lair Whilc the democratic star is in the ascendant in the halls of Congress are at present trying to prove that the Wall street financiers actually have control of the money of the country and saYf to whom it shall be loaned, and what Is more to loaned.
 There is the rub. tacording to the in- vestigators. TheySsay and claim they say 1t with good reason. that when some enterpriSng capitalist in any part of the country applies to any bank for ISan of say $e,ooO0oO or s3,ooo,- 900, hfat bank first tells Wall street aheut it. Wall street looks up the man sfid if his record shows that he will fplay into the hands of tho trusts and indirectly pay them tribute they will notify the bank to make the loan. If they order the contrary, the applicant for the loan has about as much chance
 
 ting an appointment to the supreme court bench of the United States. That
 is the money trust, or so 1t Is claimed. In spite of the claim, we still hear of some independent company. In fact, the recent steel and tobacco investigation reports contain the word Independent to as great an extent as the word trust"
 The agitation for an investigation of the money trust by Congress was start ed by Representative Henry of Texas carly in this session of Congress Aft CT a while Representative Pujo Of Louisiana took up the refrain and the pair duetted along for a while. What the Henry resolution did not cover the. Puio resolution did and vice versa. It was the Pujo resolution, auth orizing an |investigation of the money trust by the committee on banking and currency of the House, which finally passed The wrangle over the investigation is now centered about a cross question. num- Der of members are under the impress sion that the matter should be investi- gated by several committees. In fact, that was Floor Leader Underwood's s contention when the original contro- versy was on. Henry wanted the in- vestigation conducted by a special com mittee, such as the Stanley Steel in vestigating committee and the Lorimer Investigating committed while Under wood thought that a. number of other committees could better handle 1t. Now the advisability of referring the ques tion to Representative Clayton's com mittee on the judiciary; Representative Pujo's committee on banking and cur rency and Representative Adamson's committee on interstate and foreign commerce is being considered. It will no doubt be taken up first by the House committee on banking and currency. And when the final report is issued 1t is very doubtful whether anything ma terial vii be developed. The investiga- tion will cost great deal of money, however.
 E The money trust hobgoblin is cen- turies old. A money trust was declared to be in. existence under Emperor Julian before the fall of the Roman empir 3; another one is said to have flourished in Nenice when that free city financed the crusades and it's merchants and the council of ten waXed affluent It was dominant in England a long while ago and the Bank of England was formed by money trust. The panic of 1857 is said to be directly traceable to the existence of money trust and the pages of financial history since the days when the money changers piled their trade in the temple are dotted with references to money trusts Money has always had a powerful influence in the antics of nations but, in spite of it or because of it, the world seems to be as comfortably poised upon its axis as ever 1t was ami more or les people appear to be making a living.
 Her Object
 From the Louisville Courier-Journ
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