The Washington herald., 1913-07-30
over
M'ADO0'SY|EW

this moment engaged in . nefarious
enterprise, and that II 10 the duty OF
the House to still further probe this
trust.
In a statement made public yesterday
Mr.. Henry suggested that Secretary Nc
Adoo be called before the House Com
nittee on Banking and Currency to tell
what be knows concerning the alleged
conspiracy, and that the principal bank
crs of New York should also be sur
moned for a like purpose. Mr.. Henry
made 1t plain that a resolution q tn-
auiry bearing on the McAdoo charSt
would be offered In due season. II the
House fails to act on II by August II,
when the Democrats will meet In caucus
tr consider banking and currency lesisla-
ton, Mr. Henry will direct the matter
to the attention Of the party oreanixa-
ton. Mr.. Henry was in a happier frame
OF mind yesterday than he has been In
several weeks. On the other hand.
Chairman Glass. who is q religious man.
and never resorts TO profanity, used big
favorite expletive freely. pad-hlam
H." he shouted. of course I am 90
posed to an inquiry into the McAdco
charge. We have no time for such Q!
the banking ard currency laws. and not
go of rainbow chasing" Mr.. Glass
view of the situation In shared by admin
istration officials and conservative House
leaders.
THE Secretary OF the Treasury d.
rectly charges that the New York City
bankers are Ia q conspiracy to defeat Il
administration currency BILL" said Req
rssentative Henry. He charges that the
depreciation OF the United States two
Fer cent bonds below par Is the result
CT concerted effort on the part OF those
banks and is intended to help them Il,
their campaign against the currency
measure. l am sure that Mr.. McAdoo
literally states the truth about this bond
manipulation. However. there are may
who will doubt his charges and defend
these banks. 1t IL the imperative duty
OF Congress to direct the Committee on
Banking and Currency to Immediately In
vestigate these specific charges on the
part Of the Secretary Of the Treasury.
Bank Heads Wanted.
The Secretary of the Treasury should
be summoned before the committes In
stanter and reveal the facts to the
head Of every great bank In New York
should be sent for at che earliest possi-
BILE moment. placed upon the stand be-
fore the committee, and drilled In order
that the American people may know the
exact facts about this controversy. The
Secretary OF the TreaSury can. and doubt
less will, demonstrate exactly how these
gentlemen manipulate the market, put
up and down prices OF United States
bonds. and control the financial destinies
of the American people"
Commenting on the low price Of, : per
cent bonds. members of the House COM
mittee intimated that they believed the
depression Of these securities was more
or less artificial" However, thsy did
not believe thar the market fuctuation
imperiied the bill. and insisted that there
was no substantial cause for alarm that
the legislation woulu cause losses to the
holders OF the Is.
The democrats of the House committee
held another session yesterday. Under
the resolution of secrecy adopted yester-
day. most of the members refused to
discuss the proceedings 1t was learned,
however. that Representative Bull<ley OF
Ohio made another effort to eliminate
from the bill the provision authorizing
the Federal Reserve Board to suspend
reserve requirements in times OF emer-
sency. His motion was lost by an over
vote. ..a.-F