The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-09-02

WASHINGTON Sept. Senator
Robert l.. owen. chairman of the SEN
ate banking and currency committee.
charged tonight that the National
City Bank. Of New York. Is pro-
met ng and directing propaganda
for the purpose Of discrediting the
rHta .nistrat.on' monetary reform bill.
Senator owen declared that de-
,lbernte effort is being made to mis-
lean the country, to convey 1.-The false
t3.ec -sticAs'' that the administration
il rore ndtng 10 a revision OF the
IA AZ M and currency law WITHOUT
fav-rK gwen the bankers Of the cenn-
IT, a hearing,
In his letter Chairman Owen says;
The p4opaga nda now being carried
on. led by ihe National Ciss Bank. of
New YcrR which has circuiar!zed the
crtntYy' ara.nst the bill. Is obviously
attended to d.scredN the administra-
ter. and 10 make 1t appear that the
bankers have not been consulted,
and that the committee is not well
informed.
Poisons Public Mind.
This misrepresentation has the ef-
feet of poisoning the public mind. and
misleading public opinion. Such mis-
private interest against the public In
terest IT IL an open secret that these
great concerns. like Morgan & Com
pany, have publicity agents 20 whom
they pay large salaries. and who are
able TO create fictitious and false pub
lie opinion unduiy favorable TO the
contentious OF these great financial
companies.
THE business men of the country
ka~ that their rpDra-
sentativcs and senators I'm congress
will act unadvisedly. The representa-
tives of the big banks Of the coun~
try have been given the most album
dant opportunity to be heard
1T is not surprising that few
men, having an enormous control of
credits OF the country, should oppose
surrendering TO the United States in
any degree the vast power which they
have heretofore exercised, enabling
them To control credits. 10 bull and
bear the market, to enrich or I'M
pover.sh other men,.
He takes sharp exception to an In
auiry sent out by a New York news
paper II read In part as follows;
Cooperation appears to be lacking
between the trainers of the admins
tration currency bill and the bankers
II the country Do you feel that the
best interest of tho business men of
the country would be served by free
exchange OF opinions between the fran
srs OF the bill and representative bank
srss''
Conveys False Impression.
This misleading inquiry" says Ssna-
tor owen, was sent broadcast through
out the United States, and whether In
tended TO do so or not conveyed the
Impression that the trainers of the cur
rency bill had denied a free exchange
Of opinions with the bankers OF the
country. This suggestion Is utterly
untrue, because they had been heard
four times and their Views were print
ed for committee use"
Senator owen then reviewed the
source OF Information which the men
drawing the currency measure have
had, hpd adds.
After the preliminary draft OF the
bill 1t was actually prepared for sub
missio1 to/congvess, and before being
submitted the present chairman OF the
committee on banking and currency
of the United States senate spent sew.
sral hours with Paul Warburg. regard
ed as one of the ab1est Representatives
Of this banking interest and theiI
greatest expert on bank currency. The
present chairman also spent over ter
hours consecuttvely In conference with
the representatives OF the American
Bankers association discussing the de-
tails Of this BILL and has been in con
slant communication with banker
from all over the county as well "a with
leading experts on banking"