The Washington herald., 1913-07-13
HENRY Demands
MONEY inquiry
Texas Congressman Intro
duces Resolution to Inves-
tigate Biggest Trust."
INFORMATION is SOUGHT
Democratic Leaders to Confer Thi,
Week on Currency
Program.
INFORMATION Is SOUGHT

AnOther move TO force the House TO
pass 4 resolution authorizing renewal
Of the Money Trust investigation yes
terday was made by Representative Rob-
ert L. Henry of Texas, chairman of the
Committee on Rules.
Mr.. Henry offered a resolution direct
ing special committee of eleven men,
bers of the Committee on Banking and
Currency to take up the work where the
Pujo inquisitors left off by probing the
internal affairs of national banks and
other financial institutions. This meas
ure was referred to the Rules Commit
tee. over which Mr.. Henry presides. He
introduced it because of the failure of
the Banking and Currency Committee
TO report his pill comforting on Con-
gressional committees the right to ex-
anime the books OF national banks-a
right now exercised only by the Comp
troller of the Currency.
Old Inquiry Renewed.
This bill was offered as a means Of
paving the way to a renewal of the
Money Trust committee. AS the COM
mittee has failed to act on II, the Texan
has taken another tack to accomplish
his purposes. Mr.. Henry made public a
statement in which he declared that
Congress should have plenary power to
investigate the affairs of national bank
dSsoSidtloiiS. 81 VIC
know directly how these institutions use
their office boys, stenographers. officers.
porters. and dummies to wreck and loot
banks and rob innocent depositors of
their trust funds"
Continuing, Mr.. Henry said:
The Pittsburgh bank failures empha-
size the need of knowing at first hand
the inside workings of the great banking
institutions, and how they manipulate
a I'D thaf,r ~
PuJo committee said 1t had barely
scratched the surface of the rich mines
of material along these lines in hidden
recesses that by all means should be ex.
plored.
1T is proposed by the Glass-owen
bill to take State banks and trust COM
panies into the Federal Reserve As
sociations. Hence, ii is necessary to
know the character Of their business,
so that We may determine on what
terms and to what extent we will al
rency system. Then we should ad-
duce evidence to ascertain how Wall
Street forces the appointment of re-
ceivers in railroad insolvency cases
and how they are able to gobble up
these roads and control them under
our defective procedure for reorgani-
cations.
We should probe deeper into the
affairs Of the great banks and bank
ing centers to ascertain whether there
is any justifica tion for the great hue
and cry that certain banks will sur
reLder their Federal charters in case
the currency bill is passed. We need
TO dig deeper into their manipulations.
schemes and conspiracies in order to
why they so greatly dread
the eye of Federal scrutiny. In behalf
OF the people, I invoke the question. Let
there be light
Bull Moose to Assist.
Representative Lindbergh of Minnesota.
the Bull Moose who assisted Mr.. Henry
in forcing an investigation of the So
called Money Trust in the last Congress.
also made public a statement, in which
he criticised the Democratic committee
men for framing the banking and cur
rency bill in secret"
1t is the opinion of the House leaders
that the discussion of the last week has
brought about a more harmonious rela-
among the Democratic members
of the Committee on Banking and Cur
rency. As result. early action on the
bill is expected. Represent
ative Bulkley of Ohio, a member of the
yesterday predicted that the
committeeman would conclude
of the bill by the latter
part of next week.
The whole situation will be discussed
At a conference to be held this week.
President Wilson and dLeader Underwood
will then be back in Washington. and
The facts will be submitted to them. Pres
ent indications are that the Glass-Owen
bill will not be presented to the House !
for consideration until about August I. |
However. some time may be saved as a
-esult of next weeks conference. As the |
Senate plans to pass the tariff bill late |
n August, it is considered highly desir- |
,ble that the currency measure shall be |
to the Senate by that time |!
The administration is proceeding on the |
theory that the banking and currency |
bill will be enacted into law at this ses- |
sion. The outlook is promising. so far ,
Is the House is concerned. The Senate |
1as shown some hostility to suggestions |
hat have been made that it should go to !
work on the Glass-Owen bill as soon as
he tariff is out of the way. Once the |
banking bill has been presented to the
House, the President will make an effort |
o pave the way for its consideration and |
passage by the Senate. Administration |
eaders say the President is prepared to
;tay here all summer to see the banking