The Madisonian. (Richmond, Ky.) 1913-1914, 1913-06-17
URGES MONEY PROBE
HENRY CHARGES WALL STREET
WITH BEING BACK OF CUR
RENcY BILL
WANTS NO HASTE ACTION
Texan Declares Pujo Committee Mere
ly Scratched Surface Of Facts Un-
deriyina Concentration Of Control
Of Credit and Asks Investigation.

Washington, June 16.-Representa-
i've Henry Of Texas, chairman of the
rules committee voicing the opposi-
lion of considerable number Of his
colleagues in the house to
the plan for currency legislation at
the present session Of congress Fri
day, openly accused Wall street inter
ests of being back Of the proposed
legislation on that subject.
While favoring revision of both the
banking and currency laws at the
next session of congress, Mr.. Henry
Insisted further Investigation of the
so-called money trust should be i'm
mediately pressed. The Pujo COM
mfttee, he declared, barely scratched
the surface of the facts underlying the
concentration Of control Of money and
credit, because the comptroller Of the
currency refused access to his rec
ords, making it impossible for the in
yestigators to expose completely the
existing relations between the Wall
street bankers and their allies with
the trusts and monopolies, stock gam
blers and financial conspirators."
wall street bankers" he added,
now are demanding legislation on
the currency question so they may
make a market for their commercial
paper (much of 1t based on rotten Sc
curities) and have currency issued on
their assets"
Mr.. Henry introduced a bill to
amend the banking laws SO as to
make banking associations subject to
the visitorial powers exercised or
directed" by congress or by either
house of congress.
Members of the house committee,
while disposed to follow the party
leadership are not agreed upon the
necessity Of currency legislation now.
They are in waiting mood and seek
ing light.
Charging that the only aim Of the
Wall street bankers was to pass the
Aldrich bill 'veneered over so as to
fool the people" Mr. Henry said the
voters would be wise to wake up
and prepare for the greatest struggle
they ever fought with the New York
banking fraternity and the money
trust"
"The Baltimore platform said moth
ing about currency legislation, except
to repudfate and denounce the Aldrich
currency BILL" he said.
Amending the section Of the Under
wood tariff bill which would place
on the free list all print paper valued
at not more than 21a cents pound
the majority members Of the senate
finance committee Friday voted to in.
the Canadian reciprocity act passed
in 1911:
This action would extend the free
list to include all print paper valued
at not more than four cents a pound
on the condition "that no export duty
export license fee or other license fee
or other export charge of any kind
whatsoever, or any prohibition or re
striction in any way of the exporta
tion shall have been imposed upoI
such paper, board or wood pulp, OIL
the wood pulp used in the manufac
ture Of such paper or board"
Although the word Canada" is omit
| ted from the amendment adopted BY
the committee, 1t would operate
against Canada because of it's restric
tions on exports of wood and chem
! ical pulp.
Under the reciprocity amendment
pulp wood or paper could come il
| free from Canada when 1t is the prod
uct of free lands, in Canada, lands un
restricted by export duty or license fee
Senator Newlands told his Demo
cratic colleagues Friday that the tar
| if bill might go down in history a.
maintaining the Atlantic coast an,
middle western states on a protectiv
basis, while drifting the southwes
and the west to a free trade basis.
He pointed to the action of the sen
ate finance committee in placing farm
products, such as wheat. oats, barley
hay, butter and eggs on the free list
leaving, as he said. citrus fruits an
| the fruit products of California as a
most the only far western products re
tanned on the dutiable list