New-York tribune., 1913-10-10
PRESIDENT CHARGES
BANKERS CONSPIRACY
Believes the "Big Interests"
Are Behind influences De-
laying Currency Bill.
DOUBLE DEALING, HE SAYS
Several Democratic Senators
Express Similar View, but
Majority of Upper House
Disagree with Him.
IFrom The Tribune Bureau

IFron The Tribune Bureau
Washington. oct. 9.-The controversy
between the President and the Senate
Banking and Currency Committee was
practically reduced to-day to a difference
of opinion between the two as TO what
the real attitude Of the bankers of the
country is toward the proposed legisla-
ton.
The President has the idea, which ap-
pears to be an obsessiOn. that the opposi-
ton TO the administration currency bill is
due TO conspiracy Matched by the big
bankers. the big bankers influencing the
little bankers and setting afoot the plans
which have resulted in the delay of the
measure.
The Senate, or at least a majority of It's
members, appears to be one Of the opinion
that the opposition to the bill is more
widespread than the President believes,
and that criticism OF the measure is not
due solely to the artificial stimulus of the
bankers. The Banking and Currency
Committee, it is held, should consider the
measure carefully and hear all the objec-
tions before it Is reported. This situation
was reflected at the White House and IN
the Senate to-day.
The President, who did not receive with
equanimity the report of the action OF the
Boston convention, indicated 10 visitors
in unmistakable language that he did not
regard the flnanciers in session there as
even remotely representative of public
sentiment or as expressing the view or
the great majority of bankers throughout
the country. The action of the conVen-
ton was dlsconcerting TO the adm!nistra-
ton leaders, who. like the President, had
declared that the city banks alone were
against the bill, and that the small banks
In country districts were in favor Of IT,
Sticks to His Programme.
The arraignment of the administration
because of its currency policy annoyed
the President, but will not have the effect
of diverting him from the programme he
has mapped out. 1t probably viii make
him more determined to defy the big IN
terests" which, he believes. now control
the country's business, and If he has his
way the bankers will have nothing more
10 say about currency legislation.
The President believes that the big
bankers are double-dealing with Con-
gress and are shifting their ground
that is making different representations
10 the Senate Banking and Currency
Committee than those presented TO the
House committee. This belief is founded
on information supplied by member of
the House committee who has kept in
close touch with the situation. There is
reason TO think that the President sus-
poets that this alleged duplicity is part OF
4. Nr.ey yfssNs lon
and cause unnecessary delay.
Speaking on behalf of the President
Democratic Senators disavowed any pur-
pose by the administration 10 jam the
bill through under the rod Of a party
caucus and denied that the President de-
sired to pass it strictly as a party meas
ure without seeking the aid Of the Re
publicans.
Owen Raises Conspiracy Cry.
Senator owen who is an administra-
tion partisan on this question reiterated
the cry of conspiracy, however, making it
clear that the Democratic leaders who
share the confidence of the President be-
lieve that the banking interests are con-
spring to delay, if not defeat, his OBJ
1ect.
Senator La Toilette. declaring that the
obvious purpose Of the discussion was TO
Road the Banking and Currency Commit
tee TO action and bring the whip and spur
into play to force action. put an end to
the discussion in the Senate to-day by
calling for the regular order.
In response to questions put to him by
his Democratic colleagues, Senator Owen
expressed regret at not being able to
forecast when the bill would be reported
10 the Senate. Taking advantage Of the
opportunity, he again raised the cry of
conspiracy, while Senators Thomas, Mar
tine and others on the majority side hast
ened TO correct the view, which prevailed
generally, that il was the Presidents pur-
pose TO make the bill party measure
and make the Democratic caucus respon-
s;ble for passing il.
Il believe that the bankers conven-
tions," said Senator owen, "are often en-
gineered by a few active gentlemen who
have what they conceive TO be a class pur-
pose 10 serve, and that they do not OF
necessity at all represent the sentiment Of
the bankers Of the country. / have re-
spect for the bankers Of the country, but
the conventions in reality always repre-
sent the great body Of bankers by any
means"
Il have no way Of ascertaining." Mr..
owen continued. what their motive is l
think this Boston meeting had for its
obvious purpose 10 work up opposition
and either TO force the bankers views or
to delay or defeat the bill. / attended
several Of these state meetings myself,
one OF them In Virginia, where | ex-
plained quite fully. and they passed a
vote in favor Of the principles OF the bill
quite unanimously. Not very long after
ward, when they had had the opportunity.
! suppose 10 consult with the leaders Of
the propaganda, they met and passed a
resolution against it,"
Much Of the opposition, Mr.. owen said.
arose in New York City. Il believe" he
eaid. that there is violent and intense
opposition on the part Of some of those
who would like 70 have these reserves
pyramided in New York, where they may
lie used for speculative purposes"
Senator Thomas charged that misrep-
resentation of President Wilson was part
OF a conspiracy against any financial leg
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