The sun. [volume] (New York [N.Y.]) 1833-1916, 1913-09-13
Congress Likely to Ask Explana.
ton About Williams's Con-
troll Of Inquiry.
COMPTROLLER OVERRDDEN
Williams's Transfer to That
Office Expected After Bank
ing Bill Passes.

loan to the Chicago Street Railways syn
dicate has directed attention here to an
extraordinary situation.
Secretary McAdoo and his assistant.
John SHELTON Williams. have been virtu-
ally conducting the affairs of the office
Of the Comptroller Of the Currency for sew
eral months. This is indicated by the
statement issued by Secretary McAdoo
in regard to the National City Bank. in
which he comments on the report of the
examiner.
This state of affairs II absolutely at
variance with the practice that has hith.
erto prevailed in the administration OF
the great banking interests OF the coun-
try. Furthermore. the question is being
raised seriously here whether the Sec
retary OF the Treasury is not exceeding
his power under the law when he assumes
to direct the affairs OF the Comptroller 8
office or turn them over to his first as
sstant in the Treasury Department.
May Ask McAdoo 10 Explain.
There has been talk recently among
members of Congress In regard to this
extraordinary condition. and Mr.. McAdoo
is likely to be confronted with a demand
for an explanation.
The assertion is made that the pres
ent investigation into the National City
Bank loan is a matter for supervision ex-
clusively by the Comptroller OF the Cur
rency, and that his decision should be- final
and in no sense subject to review by the
Secretary OF the Treasury or his assistant.
Not only, howeGer. has John Shelton
williams assumed charge of this inquiry
but recently ne appeared more puoiiciy
as directing the affairs OF the Conptrol-
ler's office. When the Ftrst-Second Ma
tional Bank or Ptttsourg closed It's doors
Mr.. McAdoo's assistant went personally
to that city. assumed charge OF the In
vestigation and issued statements In re-
cara 10 the eono"hohs 'ha' had oeen
round there. What IN FORMER Gays had
peeh 'ohsWereu 'ne so'e province OF the
comptroller OF the currency was preempted
ID! MI ""ha"s' ana many bankers IN
fH'sours resented MS interference az uh-
authorized ana wi'hou' warrant OF law.
Ihe hatoha' banking ACT cre""he tne
oniee OK Comp'roher Oh 'ne currency pro
.'"es ''.a' he '""' pe'.o'" ms ""..S
u""e' '"e seme'"' "''u'''U" Vi ,"e 'e
re'ar! vi '"e iie"s"Is' ""e" u 'o'"e'
10 the enumeration Oh ms o"''es however
specinc power ID ioosea III eacn instance
with h'm' ana wheh 'ha' power ~ 10 DO
shared pE t"e Hecre'arE vi '"e treasury
sPe''a' p'"''''o" 80 '"""e
rh. Coccvrr.ut power..
r. ,,,,. ,,,-o. ,,rr,r,.r, r,.,,.r.
l., -, 49,. v..,, 20 a.. r.o..,,.,,
- III, a.. -,
-, 49,, c,.-..,, rno. .,. ~,
A.. -. ....,...- .. o,,o,.I h. ,,L.
Wv :. ,.. e,oo ooo roI
~. n"''"s s.p", y. 80. ..,,,o.. ~ |E
~. ",'.'. -. s.".,,.ars for honr.
'"e appo'''e' ~
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!" '.ee r.
"PP' " NV ~,
u'' 10 'e'u..u' ". y. ~. 60
oee'H'o" vi .'e .o"'pNe' ". .'
rency here'oio'e mas I'VE" sup'e"e
me No'"P''o'e. VI Wv :"
mas peeh res"'"eu ~ '"e pas. q" ." 'N
pehoeh' o"'ee,' az" man.
nave taken pIioe !" "S'e'."e "na. '"u'
pehoehce, "e Ia" 'etu"e' .". Wv
Comptro''eT s""' "'ane MS "n"u"' 'eP''.
to Congress ana not 10 the secretary OF
the Treasury. ana ina. ne s"a', suu'h'
1eeo .seoo "s =. =" -. anno,n,sd hw tho prosI.
dent with the approval of the Secretary
Of the Treasury, thereby Introducing an
element OF Independence 10 far as politics
in concerned.
There have been notable instances in
former davs when radical differences
NJ opin,on have existed between this high
of,csr and the Secretary of the Treasury.
For instance when LYMAN G. Gage was
Secretary of the Treasury he advocated
asset currency. Charles q. Dawes, who
va. then Comptroller OF the Currency.
not onlv onposed il In conference between
the two men. but submitted a report to
Coneress condemning It.
Also when Leslie NJ. Shaw WAS Sec
retarv NJ the Treasury certain bankers
complained to him OF the practices of
another banker and Secretary Shaw Or
dered that banker to discontinue his OBJ
iectionable doings. From the banker
came the reply that he would not dis
continue them until Secretary Shaw could
-" 49, 49,. r- 80.