The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1913-08-02
INQUIRY OF BOND PLOT"
HENRY CALLS FOR INVESTGA A.
TION OF CHARGE.
Committee Passes Over Tcxan,s Ro-
quest and Proceeds With Consider
alton OF Currency Bill.

Washing ION, July %J.-An lnNeStlSa-
ton of the charges of Secretary Nc
AdOO Of the treasury department that
New York bankers had organized
campaign to depreciate the price of
government per cent bonds on
which the present currency is based
was demanded in a statement issued
today by Chairman Henry of the
house rules committee.
Chairman Glass of the house bank
ing committee declared that the COM
mittee was fully occupied considering
the administration currency bill and
that it did not propose to be diverted
from its purpose.
Mr.. Glass and other members Of the
committee, however, declared they
shared the opinion of secretary Nc
AdOO as to the reasons for the de-
preston in the price of the 2 per
cent bonds.
The statement issued by Represen-
tative Henry was in part as follows
THE secretary of the treasury
should be summoned before the COM
mittee on banking and currency in
stanter to reveal the facts to the
American people as their agent and
the head of every great bank in New
York should be sent for at the earliest
possible moment, placed upon the
stand before the banking and cur
rency committee and grilled most
thoroughly in order that the Ameri-
can people may know the exact facts
about this controversy.
THE secretary can and doubtless
will demonstrate exactly how these
gentlemen manipulate the market put
up and down prices of United States
bonds and control the financial des-
TIMES Of the American people.
Senator Weeks of Massachusetts,. a
Republican member Of the senate
committee on banking and currency,
today attacked Secretary McAdoo for
his charge that the banks had de-
pressed the price of per cent bonds
and demanded that he make public
the information on which he based
the charge.
If he does not furnish the public
with this evidence and do so at
once" said Senator Weeks, lit will
be construed, and properly so, as an
other step in the propaganda which
this administration stands for; that is,
to discredit any one who opposes it by
charging them with having sinister.
malign and interested reasons for So
/ doing.
Unless the secretary has the evil
dence, his declaration this morning is
the most amobinable attempt to in
! fiuence congressional action which has
yet come from this administration,
or as far as l know, from any other
administration, and it looks like a
! concerted drive on the part of high
! VI tiiC IN
fuence the judgment and opinions of
the business community"
The Democrats of the house bank
ing and currency committee struggled
along today with the consideration of
the administration bill. Representa-
tive Bulkeley of Ohio continued his
attack on the broad powers conferred
by the bill on the proposed federal re-
serve board. BY a vote of s to 3 the
committee declined to adopt an
amendment striking out the section
or the bill allowing the board to sus-
pend the reserve requirements of the
bill for periods of 80 8 and to re-
new such suspensions for 15-day pc
RODS.
Representative Bulkeley also pro-
posed an amendment providing for q
graduated tax on banks as q penalty
for allowing their reserves TO fall be-
low the required percentage, but this,
also, was rejected.
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