The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1912-05-14
PujO Committee Can Not Get
Information on Banks.
Comptroller of Currency Re-
CARDS 1t as Confidential.
LONG DELAY is CERTAIN
Years Will Be Required for
Money Trust Probe.
Indications Are That Quiz Will
Be Thorough.

New York, May 14.-The comptroll-
ser of the currency at Washington.
Lawrence o. Murray, is announced to
nave refused to grant the request or
70 need the demand that came from
the PuJO committee, which is about TO
investigate the sO-called money trust,
because he was convinced that he had
no authority under the law to furnish
the information which was demanded
Dy the committee. A provision OF the
national banking law gives to the
comptroller of the currency the power
of inquiry, detailed, specific and thor
ough, into the conditions and manage
ment of every national bank. This in
formation, however, is confidential,
, under no circumstances to be given to
the public, excepting; possibly, in the
case of bankrupted bank.
In the office of the comptroller OF
the currency at Washington is to be
found detailed information respecting
every national bank and the archives
of that department contain the COM
pIete history of each national bank
organized since the national banking
law went into effect.
1t is not generally known that the
Pujo committee did request or demand
this information from the comptroller
of the currency. 1t is presumed that
it was the refusal of the comptroller
to furnish this information which
opened the eyes of the committee to
the fact that If there were to be eX-
haustive investigation of the banks of
the United States it would be advisable
to secure from congress an amendment
to the national banking law. Such
amendment, if adopted, would give to
the committee all the powers, so far
as investigation is concerned, which
the controller of the currency now by
law possess. But in order to gain this
authority the resolution amending the
national banking law must be passed
by both houses of congress and signed
by the president The chances are
small that a resolution of that kind
can reach the president until after
the presidential conventions of both
parties have been held. This may
cause considerable delay in the work
of the Pujo committee, although it is
understood that many of the banks
of the United States are preparing
or have already sent answers to- the
exhaustive series of questions sent out
by the committee.
Not the Only Delay.
A delay of this kind, however, even
though congress pass and the presi-
dent approve the contemplated amend
nlent to the national banking law, will
be trifling in comparison with the
investigation as the Pujo committee |
plans. If it required two years for
the national monetary commission to |
obtain the information upon which it |
based the recommendation it has
made for a reform in our bank |
ing and currency system, it would |
doubtless require as long time for
the Pujo committee to gather and |
then to assimilate the information |
sought from thirty-siX thousand banks |
Many of the smaller banks of the |
United States will find it a COMPARE
lively trifling matter to answer all the |
questions asked by the Pujo commit
tee. Many of the banks would be able |
to do the clerical work required in
the course of a day or two.
On the other hand, there are many |
~ 1sr1
transactions are so far reaching in-l
tricate and detailed that the work of |
a large clerical force extending over
several days, perhaps weeks, will be
necessary in order to make the an
swers demanded
If every one of the thirty-six thou-l
sand banks fully answer the questionsl
then. a colossal mass of statistical in