Iron County news. [volume] (Hurley, Wis.) 1913-1950, 1913-09-27
NEWS FROM WASHINGTON DC.
September 20 1913,

a. preventing luteIluChIuB ulEsClDEates
among banks eligible to Membership
in the Federal reserve banks create1
I by the bill. There is no special signifi.
canoe attaching TO this refuasl of the
Democrats to fulfil public promise,
however. They have sinned notorious.
~ in this respect during the whole life
of the Wilson administration. 1t is. in
fact, rather to be expected now that
they will disregard the promises they
made so Lawfully during the campaign
last year that they will undertake. to
fulfil them by legislative enactment.
Representative Mlrdock, h1or leader
of the Progrossives in the House. had
pointed out in an abe speech during
the debate on the currency bill a consi-
derable number of specific instances in
which the measure failed to meet such
promises. And inasmuch as the bill in
cludes aomng those responsible for its
language and its PROVISION President
Wilson, Secretary Bryan. Secretary
McAdoo, and members Of both Senate
and House, it is obvious that this dis
regard Of publicly pledged obligation
is chargeable directly to the entire D =
mocratIe administration.
In no signle feature has Democratic
denunciation Of Wall Street power and
the iniquitnus Money Trust been more
sweeping and savage than in its whole
sale condemnation Of the system Of in
terlocking directorates, which is the
very centre and life of the machinery
by which the Money Trust maintains
its control. But for some curious and
unexplained reason the Democrats
from first to last have refused to in.
clude a prohibition of interlocking di-
rectorates in their currency bill. The
only attempt at explanation of this re-
fusai that has been made is the state
melt that to deal with the problem in
Its application to banks would be to
handle merely one phase of, it and the
further promise that at some indenf-
mite and unfxed future date they will
deal with the whole problem in a sepa-
rate measure.
The question arose on September Is
through motion submitted by Repre-
sentative Walters of Pennsylvania,
Progressive to recommit the bill to the
Committee on Banking and Currency
with instructions to report it back
with an amendment forbidding inter
locking directorships. The Democrats
promptly precluded debate on the a.
mendment s.by ordering the previous
question, and then under the crack of
the party whip defeated the amend
ment by vote OF 265 to 100.
The other incident, more significant,
if not important. was the vote on the
amendment submitted by the commit
tee specifically reaffrming the gold
standard pledge of March Ia, 1900. 81
Democrats voted against the commit
tee leadership and the caucus authority
and voted against this amendment,
The special significance of this refusal
is in the showing it makes of the hold
whie h free silver still has among the
Democrats These g. rebels against
the authority of caucus insisted that
the reaftirmation of the gold standard
pledge was a gratiutous slap in the
| face for a large number of Democratic
| Congressman and Democratic voters.
The committee had submitted the a.
mendment in response u the charge
| widely made by those opposed to sthe
bill that its language as originally pro-
| posed was liable to be construed as in
in effect repeating the gold standard
plede. This language had been employ
ed for the purpose of pacifying the sill
verites. whose leader is still William
Jennins Bryan. Chairman Glass of the
com nittee hotly denied that the criti-
cised language was vague or amblgu-
Gus or that it is capable of the suggest
ed Interpretation. The committee re-
fused to change it, but got around the
difficulty by submitting an amendment
specifically reaftrming the gold stan
dar1 pledge.
The vote furnishes fair measure Of
the Bryan strength in the House. The
Bryan Democrats are the ones who
take special delight IN calling them
selves progressive " II pleases them
to magnify and emphasize tseir in
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