New-York tribune., 1912-02-08
Democratic House Caucus Votes
That Investigation Shall BE
Made by Banking and
Currency Committee.
HENRY DEFEATED, 115 TO SS
Underwood Resolution Dividing
Inquiry and Confiding Sections
to Standing Committees Is
Adopted After Wrangle-
Steam Roller in Use.
From The Tribune Bureau

=
Of the House in caucus tonight defeat
ed Representative Henry's resolution
for an investigation OF the money
trust" by 4 special committee. The eau
Gus adopted instead a substitute offered
Inv Representative Underwood. which
refers" the Henry resolution TO four
standing committees Of she House. The
Underwood faction won by a vote OF
10 10 &C.
The caucus again rebuked the peer
less leader" despite his ultimatum that
the defeat of the Henry resolution in It's
original form would be considered as
evidence that the House Democracy
was subservient to Wall Street,
The Underwood substitute as adopted
divides the investigation among the
committees on Banking and Currency
Judiciary. Interstate Commerce and Elec-
tion Of President and Vice-President.
such an appropriation, the Bryan fac
ton holds, means no genuine inquiry
although Mr.. Henry found some COM
fort tonight in the fact that the Under
wood motion was amended 10 read that
these committees shall investigate" In
stead Of may investigate
Following attacks from Bryan and
others. charging that the Banking and
Currency Committee is reactionary and
not qualified to conduct. the major part
of the money trust inquiry. the caucus
voted it's confidence" in the integrity OK
that committee.
Message from Bryan Read.
In the cours, Of the debate the follow
ing telegram from Mr.. Bryan to Repre-
sentative Henry was read:
I regard the caucus on the money trust
inouirv as a crisis. It's results VIII largely
! affect our chances in the coming cSmpa'Sn.
| please saw to any one who values my
Judgment that | am heartily WIN YOU a,i,s ~ -
demand for a special comrnlItee. ~ Inhyy
/ ara many objections TO an lnvestisaIioh %
| regular committees. but ii Is enough 10
know that Wall Street prefers regular
ron,r7,ittees we cannot afford TO allow ac-
c,,sed narties to select this jury, success
90 vou If Our party Is afraid to onend
tho powerful financial interests llat nake h
fought us since 1896 we cannot expect pun
lie confidence.
\ rollcau. enforced under new rue
was made public after the caucus
Among those who voted for the Under
mood resolution were Speaker Clark
Cbairr,or fitzgerald Of the Appropria-
tions Committee. Clayton Of the Judicl-
or,, Committee. AdamsOn Of the inter-
state Commerce Committee, Pujo of the
Ranking and Currency Committee, and
members of those committees. Inc
Henry resolution was supported by Rep
resentatives James. Of Kentucky; bur
Lesson, Of Texas. chairman of the caucus
STANLEY. Of Kentucky; Moss. of Indiana;
Painev Of Illinois. and the other Bryan
Democrats.
Ranresen;ative Henry entered the eau
cus with the air of one who believed he
was right. but realized that the cards had
been stacked against him by the party
machine. presided over BY Representa-
tive Underwood. The majority leader,
urbane. smiling and unmindful OF the
threats Of William Jennings Bryan stool
firm in his conviction that no special
committee was necessary and that an
investigation of the money trust
should be conducted by the standing
Committee on Banking and Currency.
Lines Sharply Drawn.
The issue was clearly drawn. The
Henry supporters insisted that an inves-
tigation by this committee. whose chair
man had given his approval TO the Al
drich currency plan. meant no investga-
tion nj all. Afraid Of alarming the busi-
ross interests Of the country and of shut
ting off campaign contributions the un-
derwood men took the technical view that
the Banking and Currency Committee
had jurisdiction.
A caucus of Democrats is necessarily
"talky" affair, because of the number
, of statesmen" who demand To be heard.
AS the minutes wore on tonight, how
ever. IL was apparent that this party
was TO exceed all others in factional
wrangling and bitterness. and even the
Underwood followers, who entered the
caucus confident Of their ability TO
trample on Mr.. Henry and the Bryan
ties insisted upon explaining why the
etaam roller process was necessary.
In vain did Mr.. Henry quote the fam
ing utterances of the Peerless Leader"
| I'm favor or real lHEcstlSd'loh III
vain did the Texan tell Of the great
popular demand for an investigation
that would shake the very foundations
NJ Wall street Mr.. Underwood was OBJ
durate. and in the words OF the Hon.
lanes McDermott, of Illinois. the Demo-
Gratis took the view that 'if We've got
q loader why not let him lead?'
Al the outset It was apparent that,
ma matter how fervept might be the
oratory of the evening, in the end the
Underwood faction would win, and that
Mr. Rryan and Mr.. Henry would again
feel the oppressive heel of Underwood
ism
Henry Opens the Fight
After Mr.. Henry had opened the Demo-
cratic war dance by making fervent
Rrvanesaue appeal for special COM
mittee Mr.. Underwood proceeded vita
the deliberate dissection OF the Henry
resolution. He moved to take the reso-
lution apart, examine its various Sec
tions providing for an investigation OF
everything, from campaign contributions
70 the administration of the Sherman
law and 10 refer" the disintegrated
resolution to the variou standing com
mittees of the House having jurisdiction.
| The Underwood plan was received