The Washington herald., 1913-10-08
wilson TO SOUND
CALLFOR ACTION
CONTINUED FROM PAGE ONE.

ment issued Monday, Chairman Carter
Glass OF the House Banking and Cur
rency Committee yesterday launched
into a vitriolic attack upon the Ameri-
can Bankers Association AID charged
that the leaders of this organization are
behind much of the opposition to the cur
rency bill in the Senate and are in
huencing members of that body through
constituent banks.
Mr.. Glass intimated strongly his be-
lief that a form of graft" upon which
he did not elaborate. is behind the
bankers opposition.
Mr.. Glass Statement.
II have no doubt" said Mr.. Glass
bitterly, that the grating interests
would combine il possible to test the
constitutiOnality of the currency bill,
just as the grating interests will COM
bine to test the constitutionaIity of the
tariff and the sincome tax law.
~ have no knowledge that the Ameri-
can Bankers Association is rounding up
the country bank members for this pur-
pose. but / have heard that such is the
fact, and l have seen evidence leading
me to this belief.
when the currency bill passed the
House the Virginia bankers passed reso-
lutions facilitating the administration and
myself on the bill and its hearty indorse-
ment by the House. In a few days there
came hurried emergency call for
meeting of this association, at which the
previous resolutions were rescinded and
the bill was opposed. The association re-
canted
THE currency bill violates no cons:i-
tutiOnal privileges of the banks. All their
rights they secured from Congress, and
Congress can take at any time from
them all the privileges they now possess.
II they know enough TO be bankers they
know this. Congress has the power to
regulate the banking business and to
compel subscriptions by member Banks
to the capital of reserve banks. This is
all an effort at a blum by the national
banks.
Determined 10 Fight.
THE attempt has made me more de-
termined to fight. There will be reform
currency legislation enacted at the pres
ent session of Congress. I think that |
can speak for the administration when l
promise that it will fight behind Congress
and me for this purpose"
Though expressing surprise at the Incl
dent, members OF the Senate Banking
and Currency Committee yesterday re-
fused to comment for publication upon
Mr. Glass attack on Senator Hitchcock.
who is leading the opposition in the
Democratic majority of the committee. 1t
was not believed that an attack OF that
nature would aid the bill any, and ii can
not be said that the attack was inspired
by the White House. though the admin
istration undoubtedly is in sympathy with
many of the sentiments expressed 50
pOintedly by Mr.. Glass.
President Wilson's friends are seriously
an appeal to the country in
behalf of the currency bill in the hope
of whipping Messrs Hitchcock, Reed
and O'Gorman into line behind the bill
There has been much ado TO understand
the basis for the opposition Of Senator
Reed, who has never pretended to be an
authority on currency questions and has
indicated during the committee hearings
little real knowledge Of the subject.
Action of senator Reed.
Senator Reeds opposition to the lii
las caused a good deal of comment in
lis district, and his political followers
ire said to be urging a change in at
itude. Senator Hitchcock is known as
IN authority on banking and currency.
md his attitude toward the admins !
ration never has been particularly |
friendly. Senator O'Gorman in a pre-
'ious attempt to enter the lists against !
he President changed his mind at the /
Eleventh hour.
II President Wilson or his close !
riends undertake to back up and elab- |
rate on Representative Glass charge .
hat powerful interests, represented by /
he American Bankers Association, are
the opposition to the bill by .
insidious" means. and IL this charge
5 given the weight which a White .
louise statement carries Democratic .
pponents of the measure may have
ONE trouble explaining their Opposi-
ion. even though. as is true in many
asses. undoubtedly, such opposition is
ased largely upon fear of UNEMPLOYED
egions.