The Washington times., 1913-03-30
BAILEY SCORES HIS
PARTY IN CONGRESS
Former Senator Tells Bankers
Democrats Will Not Give
Real Currency Reform.

Declaring that mis- own party is filed
with demagogues who live one way al
home and talk another way on the
stump, who are too busy slicing out
Offices TO think about the bigger ma
tional questions. and who are not to
he relied upon to give the country any
adequate currency reform, former Sell
ator Joseph w. Bailey. of Texas, laid
bare his views on his party. the tariff.
the currency and other things, general
and particular. IN unmistakable terms
before the 325 bankers VINO attended
the tenth annua! banquet of the Wash
ington Chapter of the American Insti-
tute Of Banking. at the Raleigh last
night
The Senator was preceded by Con-
gressman Henry D. Clayton, Of Ala
bama, who declared the new admins
trat!on. in both branches Of Congress
and in the White House, Is closets to
the people and most sympathetic that
has been in power since tn ewar He
said Congress wants the advice of
bankers on the currency reform ques-
ton.
Senator Bailey ridiculed the idea
They will take your advice" he de-
clared, land then they will settle the
question exactly opposite to your ad-
vice. The trouble Is. there is not one
man in ten in Congress- who knows
anything about it.
Pays Respects To Congressman.
Il used to think when l was a boy
that to be a Congressman was the sign
Of mans wisdom and ability. Since
have come to be a man / have
learned that il is more often a sign
Of rolubility than of real, ability. They
act one way at home and talk a very
different way on the stump And you
may as well put out of Jour minds any
expectation of currency reform by the
next Congress"
Senator Bailey said he did not think
the present currency system Is nearly
as bad as some people believe. He
said il the Government would take
measures to prevent panics and provide
funds with which to fill the void in
every solvent bank that is caused by
the modern Shylocks withdrawal of
his money a; the time of a financial
depression. the present system would
be found to work all right
Il would advise Congress and the
President" said -he former Senator,
mot TO have anything to do with the
currency question until it has put some
good tarin laws on the books. lmpor-
tatton and manufacturing are held In
check waiting for the new laws. The
special session OF Congress should neacI
its tariff laws and then adjourn TO give
the country time to recover from the
shock which will inevitably follow. This
is of the greatest Importance. because
II Congress waits until fall to put those
tariff laws on the books 1.O1oOO men
will be walking American streets with
out work"
Clayton Predicts Settlement.
Congressman CIayton's address was
decidedly more optimistic than Senator
Bailey's. He predicted a final settle
ment of Doth the tariff and currency
questions by the present administration
and Congress, and he based this opinion
on the fact that the Senate has come
closer to the people than ever before.
He said the Senate has changed
greatly in its attitude toward popular
issues within the last few years.
+. W. Edworth. of the Guaranty
Trust Comany. of New York. out
lined the principles of the institute
and told of some things 1t had ac-.
in different sections of
the country.
Wade II. Cooper acted as toastmas-
ter. He was presented by Charles II.
Doing jr. president of the Washing
ton chapter The banquet was by far
the largest ever held by the local
cha ptcr. John ID. Howard was chair
man of the committee which arranged
ii. A. s Carter was chairman
and Donald II. Manning was secretary
and treasurer. Other members of the
ba nquet committee were: W. J. Ra-
con, jr.. w. Fl. Harnhar rdt, w. T..
Baum. G. 5. Beardsley. B. A. Bowles,
w. A. Dexter. G. c. Eckloff. f. s
Fawcett. 6. +. Flather, John L. Flu
gift, J. r. Gilpin. F. B. Gilmor, F.
V. Grayson, Charles W. Heider Arthur
Herbert. jr. Paul Hines. ir. T.. T.
Love, F. Webster Manning. V. T.
Merchant. NJ. Otterback, J. L. Perry,
II. J. Phelps. Howard w. Phillips.
Carroll Pierce. Fl. l.. Selby, VI. E.
Sl'Idee, II. II. Smith. f. E. Swan, Al
eXander +. Narela, \. *. Warfeld, II.
r White. f.. s. Wolfe. and w. n.