The Washington herald., 1912-02-10
READY FOR PROBE
OF MONEY TRUST
Pujo Presents a Resolution
Giving Committee Power
to Take Action.
BRYAN TO BE CALLED

A resolution vesting the House Com
mittee on Banking and Currency with
power to make an inquiry into financial
\ conditions with a view to preparing re-
medal legislation II the facts collected
warrant such a course was introduced
yesterday by Representative Pujo, of
Louisiana, chairman of the committee
The Pujo resolution was presented in ac-
cordance with Instructions by the recent
Democratic caucus.
The term money trust does not ap-
pear in the Pujo resolution. 1t directs
the committee to make an inquiry into
the financial conditions, and TO report
what change, II any. should be made in
the banking and currency laws Broad
powers arc conferred upon the commit
tee by the Pujo resolution. The COM
mittee is authorized TO enforce the at
| tendance OF witnesses and to compel the
production Of books and papers. Here
Is the resolution:
Resolution I'm Full.
Whereas the Committee on Banking
and Currency Is vested with the power
10 propose to the House all legislation
relating to banking and currency; and
whereas said committee Is desirous OF
securing full and complete information
regarding the banking and currency con-
ditions Of the country for the purpose
of determining what legislation is
needed
Therefore be IL resolved. That the
Committee on Banking and Currency as
knf kr-e Ne
10 sit during the sessions Of the House
and the recess OF Congress and compel
the attendance Of witnesses and to send
for persons and papers, and to admins
ter oaths to witnesses. and TO employ
expert counsel, accountants, clerical, and
other assistants.
THE costs and expenses Of said COM
mittee shall be paid from the contin-
gent fund OF the House Of Representa-
tives. said expenses shall be paid on
the audit and order of the chairman or
acting chairman OF the committee. The
Speaker shall have authority to sign and
the clerk TO attest subpoenas during the
session or recess Of Congress"
In commenting upon the resolution
Chairman Pujo said:
Need NOnpartIsan Probe.
This resolution has been introduced
by me upon my own responsibility, and
reflects only my personal views. The
resolution in the order OF procedure will
be referred to the Committee on Rules,
and will, no doubt. be promptly reported.
as II is my intention TO ask the commit
tee to have a special meeting TO consider
the resolution.
There has been much loose talk by
uninformed persons about monopolistic
control OF financial conditions in this
country. Should such conditions exist
no doubt legislation along proper lines
will not only be recommended by the
Committee on Banking and Currency, but
will be enacted by the House. The mon
etary system OF this country. in my Judg-
ment, is a scientific and not a political
question 1t should be investigated and
considered along those lines. Those who
are attempting to have the reform Of
our monetary system considered along
political and partisan lines have not at
heart the interests OF the people OF this
country. There has been criticism with
reference to the attitude Of the Commit
tee on Banking and Currency as to true
monetary reform. I have served many
years with most Of the members on that
committee and ] am sure that any sug-
gested legislation which means an in
provement OF our present conditions will
be given careful and fair hearing"
Approved by Conferecs.
While the Pujo resolution has not been
formally passed upon by Mr.. Pujo's
Democratic associates. it is known that
II meets with the approval OF practically
all of them. II was discussed at an in
formal conference OF the Democrats held
late in the day, after which the meas
ure was introduced.
The indications are that the resolution
will be reported promptly by the House
Committee on Rules. of which Repre-
sentative Henry. OF Texas, Is chairman. |
Upon approval by the House, Chairman
Pujo will set the inquiry in motion. No |
effort will be made to submit a report |
at this session.. The resolution author- |
izes the committee to sit and hold hear
ings during recesses OF Congress. Under
this authority the committee will hold
a number Of meetings Following the ad-
jOurnmeut of Congress. II is the general /
expectation that a report will be SUBJ
mitted to the House some time during the
special session OF Congress beginning De-
next.
w. J. Bryan will I'm all probability be
the first witness asked to appear. MIR.
Bryan will be invited to make recon-
for changes In the monetary
laws. The committee wants his advice
and counsel. incidentally Mr.. Bryan may
be asked upon what he based his cdi-
torial declarations in the Commoner that
the Banking and Currency Committee
was packed with men who would not
be disposed to make such a thorough
inquiry of the activities OF the money
trust as was proposed in the Henry and
Lindbergh resolutions.