The Detroit times., 1912-02-23

'IEN YORK MERGER STIRS
GONGRESSMEN TO PUSH
FIGHT ON MONEY TRUST
Republicans and Democrats Plan
To Force Adoption OF
Henry Bill
NORRIS SOUNDS CALL
Says Morgan Plans Big Bank
Combination Despite Pro
tests in Capital
NORRIS SOUNDS CALL

WASHINGTON, Feb. 2S.-Angerej
over the announcement of the merger
!. OF the Manhattan aud Bankers Trust
companies In New York, and the init
nation that this was the forerunner
OF a general merger OF those two Nor
gan-controlled financial institutions
with the big Guaranty Trust Co., OBJ
ponents of the money trust" declared
today they will force real investiSa-
kilon BIZ congress. They insisted tha-
The merger shows that the great flnan'
ciRl Interests are satisfied with the
action Of the house caucus In delegat-
Ing the money trust investigation 70
the regular house committees instead
of to-a special committee.
ACCORDING To Rep. Norris (Rep.,
: Nebl. the Republican and Democratic
pfogressiyes OF the house plan 10 com
blne and thus force the adoption or
the Henry resolution turned down at
The recent Democratic caucus Pro-
eressiyes leat n, headed by Norris
and Lonroot (Rep., WIS.,, held confer
eIces today 10 decide on plan or
campaisn. They then began overtures
10 the Democrats who supported the
original Henry resolution for the spe-
cial committee. n they can get enough
Democrats TO ensure success. Henry :
resolution %ili."be dug up. re-offered
and record vote demanded.
The real representatives OF the
people will make fight for an investi-
cation" said Norris today. Once
more wall-st. with threat and induce
ment has invaded the capitol and
III. ID, IAI Inv
the people. Once more The grim, time
worn spectre OF financial panic has
been dragged from it's Wall-st. closet
and with the Wall-st. interests pulling
the strings has dangled its fearsome
arm against the standpat Democrats
OF this house.
Fearful of the awful powers OF
Wall-st.. panic.stricken at the threat
of possible financial panic before
election. and shuddering at the pros
pect of the closing the purse-strings
of those who build up campaign funds.
the Democratic leaders sought the
shelter of the secret caucus There
they battered down the &C Democrats
who were convinced of the necessity
Of real investigation of the coHcen!
tration OF the money power and
brought forth resolution--a sop 10
the demands of the people for Justice
from the greatest trust of aTl--propos-
ing that the banking and currency
committee investigate the indefinite.
elusive thing they called Financial
conditions.
up in Wall-st., the big money inter
csts lay back and laughed at their sue.
cess In cowing he representatives OF
the people. And within week j. T..
Morgan, the ear of Wall-st., in fine
irony. recognized the attitude OF con
gress when he quietly merged two OF
his money subsidiaries, the Bankers
Trust Co. and the Manhattan Trust
C D., into a single gigantic corporation,
controlling nearly $200,O00,0O0 Of de
positors' money. Then he let il be
known that soon the two greatest
financial institutions OF the street -
this new Bankers Trust Co. and the
Guaranty Trust Co. will be merged.
This makes II quite plain that the
Democratic caucus action was salts
factory TO Wall-st.
Nov Is the time for the real repre-
sentatives of the people in the house
70 get together and make real fight
for thorough probe of the money
trust"