New-York tribune., 1912-01-09
IRON The Tribune Bureau.1


Washington, January s.
MoNETARY ESsENTIAL-In the
op'"io" OF some OF the ahlest Judges OF the
WORK OF the National Monetary Commits
''o"' 'he most important provision TO be in
corporated in the law fra med nv that COM
n'iss'oh Is the one which will effectively
p.ete". not only one bank from holding
w another. hut holding companies,
ny "uIch group Of men may control the
oPe'a OF number of banks This sub
Jecl was taken UP by the members of the
commission with the Solicitor General, Mr.
behnann' and after the conference a report
was circulated that the Solicitor General
hau declared that such A nrovision would
be unconstitutional. That report however
was not correct Mr.. Lehman told the
members OF the commission who consulted
MN thdt there could be no question OF the
CohSu'uuonanty of such a provision, and
thal III organizing the proposed reserve as
Sociauon any conditions precedent to MEM
DerShlp could be imposed without danger
10 the consiitutionality Of the law. II Is
said by some Of those who have studied
the report of the commission that so many
and such farreaching precautions have
small group 10 acquire control that the
stock holding provision may not he neccs-
sary 10 that end. but II is contended, first
that the organization of the reserve asso-
citation affords an excellent opportunity 10
foreStall such combinations OF banks. and
second, that the adoption Of such pro-
vision is essential to dispel the suspicion
which is certain TO rest in the minds OF
many people II II is rejected, since its ear
nest advocacy by Secretary MacVeagh in
his Chicago speech. II is acknowledged by
the Solicitor General that such provision
must be carefully drawn. but he does not
believe that this task presents any in
superable obstacles, The adoption Of such
provision would certainly go far to allay
suspicious and TO bring into line the votes
of many doubling Thomases who will
otherwise be reluctant TO commit them
selves to the plan.
THE ADMINISTRATION AND LABOR
The call Of the district ATTORNEYS from
Los Angeles. Oscar Lawler and John d.
Fredericks. at the White House has served
10 revive the rumor that the President is in
tensely interested IN the prosecution of Ger
'"A'i Ahbp' itdhtIS lOI uNndHNIllk. ana lldt
1t was by his request that the attorneys
came to the White House: also that they
laid before him their plans for the prose-
cutlon. This is not true. They came to
tho White House on their own motion and
did not consult the President Officially. but
merely 10 relate to him some of the inter
esting features OF their Investigations AS
has been told IN this column. the govern
ment is interested only 10 the extent OF
prosecuting violations OF the federal stat
ute which prohibits the Transportation OF
high explosives except with proper precau-
tions against accidents and fl is not en-
gagged in any general attempt 20 run down
and prosecute those violations OF the law
which are solely within the Jurisdiction Of
the states in which the dynamiting &C.
CURED. Apropos OF the allegation by Sen
ator La Toilette that the only instance OF
an attempt 20 recover damages under the
damage clause Of the Sherman antitrust
law was I'm the case OF labor union. to
which editorial reference was made in The
Tribune this morning under the heading
An Unjust Slur," It may be OF interest 10
say that the statement OF the Wisconsin
Senator IS not true. Several suits have
ptNo 'HoutNN'u' hoN"HlJ o'io ~ w "'Ai' '''-
dependent tobacco dealers, pursuant 10 the
prosecution OF the tobacco trust: although.
as The Tribune stated. such suits must be
Instituted by private individuals or cor
pors tions whicn believe themselves to have
been damaged
DEMOCRATS AND ECONOMY
Whether or not it Is due to the admoni-
tions OF Governor Harmon, who declared
recently in New York that 1t hurt him 10
see employees of the government receiving
more pay than they would in private en-