Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1913-06-15
WALL STREET BACK
OF CURRENCY BILL?
Henry Of Texas, is Suspicious
Of Proceedings

siderable number of house democrats
to the plan for currency legislation at
this session of congress took definite
shape yesterday when Representative
Henry, of Texas, chairman of the
powerful rules committee, openly
charged that Wall street was back Of
the propaganda for currency legis-
lation
While favoring revision of the bank
ing and currency laws at the next ses-
sion of congress, Mr.. Henry insisted
that further investigation of the So
called money trust" should be imme-
djately pressed. The Pujo committee,
he declared barely scratched the sur
face of the facts, because the controller
of the currency refused access to his
records, making it impossible for the
investigators completely to expos
the existing relations between the Wall
street bankers and their allies with the
trusts and monopolies, stock gamblers
and financial conspirators."
wall street bankers" he added,
now are demanding legislation ON the
currency question in order that they
may make market for their CONNER
cial paper (much of it based on rotten
securities) and have currency issued
on tlreir assets"
Mr. Henry introduced bill to amend
the banking laws, so as to make bank
ing associations subject to the visito-
rial powers exercised or directed" by
congress or by either house of con-
gress.
While this was going on, it became
known that the administration meas
ure representing the combined views
Of President Wilson, Secretary Nc
Adoo, Senator owen, of Oklahoma,
chairman of the banking committee
and Representative Glass, chairman Of
the house banking and currency COM
mittee would be introduced in the
house and the full committee of the
house would meet to take up the bill
& day or two later.
President Wilson is expected to send
a message on the subject probably on
Tuesday. Mr.. Glass had a long confer
ence today with Secretary McAdoo, go
ing over the whole subject.
1T is an imperative duty to pass cur
rency legislation at this session of con-
gress," said Mr.. Glass tonight. Not
only the bankers of the country favor
legislation, but business men of every
description favor it, the latter even
more urgent than the former"
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 a waiting mood and seek
ing new light.
Mr.. Henry, in his statement accom-
panying his bill, declared. THE Wal!
street bankers and their allies want
t. cause the government to abdicate
the function of issuing and controlling
the currency The Aldrich-Vreeland
bill is on the statutes, and has year
to live 1t certainly suffices for that
length of time"
Charging that the only aim of the
Wall street bankers was to pass the
Aldrich bill, "veneered over so as
fool the people" Mr.. Henry said the
voters would be wise to 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, eXceI t
to repudiate and denounce the Aldrich
currency BILL" ne said. 1t did, how
ever, demand systematic revision OF
our banking laws so that we might
have protection from control or dom-
nance by what is known as the money
trust
81 am ready now for the right kind
of currency legislation but never for
the plan that turns over the currency