New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-06-13
President InCenSed at MutinouS
Attitude of Many of His
Party Both in House
and Senate.
THINK THE TARIFF ENOUGH
Secretary McAdoo's Announce
ment of Emergency Notes on
Hand Seized Upon as Elk
cuse for Taking No Ac-
ton in Extra Session.

while il is under the surface at pres
cnt the mutinous attitude of the hith-
crto we'll disciplined Democrats cannot
be concealed.
President Wilson has learned with
chagrin of the hostility Of his party in
Congress to his plans for currency leg
islation and is thoroughly incensed
over the situation. He has not yet
given UP hope. but il has been made
clear to him that he will have TO ride
with whip and spur TO control even
the majority in the House. and that
there are grave misgivings as to mis-
ability to round up his party in the
Senate.
\ further cause Of annoyance to the
President in its effect has been the an
nouncement Of the Secretary Of the
Treasury that there is $500,0000O Of
= emergency currency in the treasurY
vaults ready for issue under the pro-
visions Of the Aldrich-Vreeland emer-
rency currency act, and that, there
fore. there is no occasion for appre-
hension.
This announcement has led many Of
the saner Democrats to ask the White
House: Why not extend the life Of
the Northumberland act-Which eX
pires by limitation a year hence-in-
stead of trying to rush through COM
prehensive legislation which no one is
prepared TO draft or intelligently TO
pass upon? If the mere existence Of
the Aldrich- Vreeland act is sufficient
to warrant Secretary McAdoo's state
ment. what is the use Of asking us to
remain here in the heat Of the sum
mer and, after we are worn out with
tariff legislation. to pass a half baked
currency measure which almost none
Of us can understand"
Alarmed at the Outlook.
secretary McAdoo did not make his
statement without consultation with
the White House. The fact is that
the White House was alarmed by the
serious slump in the stock market
which followed the announcement Of
the Minnesota rate case decision, and
feared that the calling Of loans, hoard
ing of currency and other symptoms
Of a panic might rapidly develop.
II was TO check any such tendency
that Secretary McAdoo issued his
statement emphasizing the efficiency Of
the Aldrich- Vreeland law 10 prevent a
monetary stringency. When it was
issued. the President welcomed the
statement but now that it has resulted
i'm such general suggestion that the
commonsense plan would be to extend
the life of that law and frame more
comprehensive financial legislation
with care and deliberation, Mr. Wilson
is extremely irritated. He has set his
heart on financial legislation at this
session Congress has thus far needed
his every wish. and he is sorely dis
appointed 10 find that there is probably
limit to his power. Some of his
.losest advisers have, indeed, urged
hirs not to press the matter, because
tho. fear it may prove the occasion for
an resurrection which il might prove
impossible to suppress.
None Of the leaders has cared to defy
the President. but all have made il
perfectly clear that if he decides 10
press financial legislation at this ses-
sion the responsibility must be wholly
on mis- shoulders, and that he will as
sumo it contrary to their judgment and
advice.
Caucus Approval Doubtful.
There is serious doubt that the ad-
ministration bill would receive the
binding caucus 20. X given 10 the
Underwood tariff bill Friends Of Mr..
Underwood say that the majority
leader doubts the propriety of asking
the Democratic side Of the House to
accept without the opportunity for
free discussion and amendment, the
bill which will be served up 10 it.
The fact is, the House Democrats are
afraid at this time to tackle The cur
rency question. The average member
knows little about the intricacies Of
the monetary system and its defects.
Democrats recall the troubles of the
cleveland administration because IT
tackled currency on top Of tariff re-
form; they have failed to find popu-
lar demand for a revision Of the cur
rency laws which will in the least com
mare with the demand for tariff re-
vision.
The Democratic party in the House is
split wide open on the subject The
Banking and Currency Committee is
not united. Mr.. Henry, OF Texas, has
expressed his determination to fight
the Glass Wilson bill, and he occupies
a place Of vantage because he holds
the Craftsmanship Of the Rules Com
mittee. The Glass bill has not been
submitted to the Banking and Cur
rency Committee, and there are mem
bers Of that body with ideas about cur
rency reform just as radical as those Of
the Texan.
Democratic unrest and dissatisfac-
ton are also increased by the fact that
Mr.. Underwood originally opposed cur
rency legislation at the extra session.
He was forced into line by the Presi-
dent and reluctantly offered his ser
..so.. a., ,,,ttino a hill through the