The Washington herald., 1912-01-30
Sensational Resolution, In
trOduced by Mr.. Henry,
Precipitates Crisis.
PROBE is FAR-REACHING
Every Financial Institution in the
Country Practically Included in
the Charge of Corruption.

The Democratic organization OF the
House is threatened with a serious
division over the question of investigat-
ing the so-called money trust. A caucus
will be held tonight or tomorrow to
consider the question.
The trouble started when Representa-
tive Lindbergh, a Republican insurgent
offered a resolution TO investigate the
money trust. 1t was opposed by the con-
servative Democrats, headed by Repre-
sentative Underwood, but the crisis came
yesterday when Representative Martin
w. Littleton, Of New York, issued a
statement saying that II the Democrats
began a spectacular probe they would
demonstrate that their party is a party
of proclamation and protest and would
cause incalculable mischief by menacing
business stability.
Sensational Resolution.
Immediately Representative Henry.
chairman OF the Committee on Rules,
retaliated with a resolution beside which
the Lindbergh proposition was as mild as
a cooling dove. In sensational language
it provides for an inquiry that would
affect national banks, railroads, indus
trial corporations, and every combination
and every individual related to financifS
affairs. BY inference. II is charged that
the money trust, which is located in
New York, exercises a corruptive inflU-
ence in the nomination and election of
men to public Office It charges further
that the New York Stock Exchange and
the New York Clearing House Assocla-
ton are instruments used by the money
power in exercising control over railroads
and industrial corporations. Practically
every railroad, every industrial corpora
ton, every national bank, and all other
associations OF Importance in the large
cities OF the United States are brought
within the purview Of the resolution.
Improper Use of Money.
In its preamble the resolution recltes
that further legislation is believed to be
necessary ito prevent the improper use
OF money I'm connection with the noml-
nation and election of public officers"
that there is reason to believe that the
OF the finances of many of
the great industrial and railroad cor
porations is rapidly concentrating in the
hands Of a few groups of finanCiers:
that the moneyed institutions of the city
of New York and in other cities TO
which they direct such patronage are in |
a position to control vast deposits of
that 1t has been charged and is |
generally believed that these groups Of |
financiers have so intrenched them
selves ''in their control OF banks and |
corporations as to exercise practical |
control over the money OF the country" |
that national banks and other moneyed |
are engaged in the promo
ton, underwriting, and exploitation Of |
speculative enterprises, and are using
their corporate funds and credit for such |
either alone or in conjunction |
with those by whom they are controlled. !
I'm the
From a political point of view the sit
uation is interesting because Mr.. Henry |
is a Bryanite and had the counsel OF |
Mr.. Bryan in framing his resolution: 1t |
is also asserted that until Mr.. Bryan |
took a hand in the matter the Committee |
on Rules was favorable to Mr.. Under
woods suggestion that the inquiry might /
be hurtful to business without accom-
plishing any tangible results. As the |
case now stands, however. many Demo- 1
Gratis fear that IL the investigation is
lot made, the party will be charged with |
cowardice, and Mr.. Lin6Oergh is quot
I'd as saying that he does not see how
the Democrats can avoid taking action.
IF they fail to do so," he says. "they
will convict themselves of insincerity"
The caucus on the question is certain
to develop a lively difference Of views,
and the Republicans are standing on
the side lines, intensely interested in the
light