The daily telegram. [volume] (Clarksburg, W. Va.) 1901-1926, 1913-09-03

OF the State Are Not Ready
to Accept Wilson's Ideas
on the Currency.
ItCharles Brooks Smiths

WASHINGTON, ID. G.. sept. a.
THE bankers OF West Virginia and
fby that IS mot meant the active work
ers in banking houses alone. bnt stock.
holders who have an intelligent Idea
iof the, character, operation and LAWS
governing their investment-are BY
no means ready to accept the Wilson
administration's new monetary meas
lure and currency plan, SO far as it ma.
developed and they understand st at.
tier thoughtful study
This is made evident by scanning
the hundreds of letters Congressman
sutherland has received from them ii
answer to general letter OF inquir,
sent out to them by him. Mr.. suth.
ed constituents in every section of hi
state.
From these replies many valuable
Suggestions have come. as well as nu
merous pertinent criticisms. OF thu
latter there is one general one which
lands fault with the MANNER in which
1.-The bill has been framed in secret. eau
Gus, refusals being given to hearing
Alupon the subject, and wholly unhearI
of disregard of the right to be hear,
on the part of men interested in tn,
banking business and, as such, repre-
lsenting the invested interests OF mil
Ilions of shareholders and depositors
After all and in the end. no meastr,
is likely to be successful that does no
meet with the approval of these. in
. terests and by that Is not meant Wal
Street, but the banking interests o
the country generally. It is the small
Ter or country banks that are the mos
persistent protestants against some o
1.-THE features Of the pending bill. Tht
IDS true in West Virginia as 1t is of tn,
country generally
Talking on the bill in a general wa!
to-day, Congressman Sutherland said
"In the first place ] am inclined t,
scan very closely the product of a Sc
cret caucus, and the banking and cur
lrency bliss a. child of that discreditet
method of legislation, Just as Is tn
new tariff bill.W,s
~ am convinced Of the necessity o
Legislation to provide for more elias
tie currency, and to so place the, re
: serves of our national and state bank
that they may be utilized In time o
financial stress.s i am really anxtou
to support a reasonable bill that vii
accomplish these ends. doubt ex
ceedingiy the ability of our Democrat
friends to produce constructive legis
lation along these lines.
Now that their secret caucus ina
given birth to bill, hope we minor
ity members may soon see it In its fins
shape. The original drafts were ur
satisfactary in some important respect
to the bankers and business people Z
7 erlaad has taken the deepest intere.
in the currency question since tn
president annquneed that it must b
considered at this special session {
Congress. For-weelts he has studio
the established laws upon the subjec
} the bulky volumes of the monetar
commission, and the present bill 9
= It has progressed upon its rough an
turbulent way in the committee. l
connection with this study the letter {
INQUIRY was despatched to his tnteres
our state. If the pending bill seen
: likely to give relief to the people
!. our state by making their fnanci.
conditions more stable. and without ii
: fiicttng a pecuniary loss upon then
or putting them wholly in the power
Eastern aggregations of capital, the
!. / shall be for the bin, otherwise
shall vote against it"
Representative Sutherland will tai
! part In the debate over bill when th'
gets under way in the House. He wi
offer a number of amendments, base
on suggestions from his constituent
and will also deliver a speech befol
the bill reaches vote on its final pa,
sage.