Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-03-30
HONEST BUSINESS
NOT THREATENED
Representative Clayton Says
the Present Administration
Is No Menace.
FORMER SENATOR BAILEY
SEES SIGNS OF TROUBLE
Both Deliver Addresses at Banquet
Of Washington Bankers-Of-
ficers and Committees.

An assurance. by Representative Clay
ten, chairman of the House judiciary COM
mittee, that honest business need have no
fear from the present administration, and
a warning by former Senator Bailey OF
Texas that trouble will come If Con-
gress takes up any big question except
the tariff at the special session, were
features of the tenth annual banquet OF
the Washington chapter of the American
Institute of Banking, held at the Raleigh
last night.
Representative Clayton declared that
there Is no danger of panic. and that
both the President and Congress want
to do what is best for the country.
There must be reform, however, he said,
because the people Of the country have
become convinced that TOO much power
centers in New York, aid that there Is
something wrong with the present taxa
ton and financial systems.
Former Senator Bailey took a fling
at the denlagogues, and declared that
to-day there are too many politicians
who say things they do not believe"
He predicted that there will be 1OOO, 900
men out of work unless Congress set-
ties the tariff question quickly after
the beginning of the extra session, or
If 1T allows the discussion to drag out
until fall.
Representative Audience.
Gathered at the banquet were several
hundred of the leading business men
of Washington and members of the
bank clerks institute. Charles H. Do
ing, jr.. president of the institute, pre-
sided, and Wade III. Cooper acted as
POSTMASTER Senator MARITIME of New
unable to be present. F. w. Ellsworth
of New York made short address
on the work of the institute.
Commenting on recent changes in the
Senate, Representative Clayton said that
it has drawn SO literally from the COM
mon people of the country, and chiefly
from tile House of Representatives, that
it has become a real statesmanlike and
intelligent body" Because of general
feeling not long ago that the Senate was
not responsive to the will of the people.
he said. direct election of senators was
proposed
Passing to a consideration of banking
Mr.. Clayton declared that the country can
not do without the bankers, and that not
even a modern war can be conducted
without consideration of banking facilities
Nothing modern can make progress unless
1t has well-planned financial system, he
said.
II would advise that the bankers get
together and help Congress and the Presi-
dent formulate a sound currency system,
he continued. There are many defects
in the present system. 1t seems to MEM
bers of Congress that they want the
There is no hostility on the part Of the
present administration to the business
interests of the country.
Il want to congratulate you on the fact
that April Z there will convene Senate
and House more responsive to the will of
the people than any Congress since the
civil war. l want to congratulate you on
the fact that in the White House there
lives the most intelligent man who has
occupied 1t since the civil war. except
Harrison. He is the most sympathetic
man since Cleveland He is the intel
lectual equal of any of our Presidents. He
10 just as good a patriot as any of them
Conditions now are favorable. Both
what Is best for the country. The Sec
rotary Of the Treasury. Mr.. McAdoo, is
without a superior in his work.
Not Enough Offices.
Passing for q moment to joke about
the rush for Office by democrats, Mr..
Clayton said ne wished Offices were like
watermelons. SO that they could be cut in
slices and everybody get slice.
My only regret is that the demo-
cratic administration will not loosen up
and give US the conditions such as ex-
listed in President Cieveland's time" he
continued.
Returning again to the relations Of the
present administration with business in
terests. he said that bankers and other
business men need have no fear the adj
ministration Is going to commit hara-
kri" and disturb business.
1t strikes me, however" he declared
that the country has been too much
beholden to New York. That is what
the common. people mean by Wall
street and the money trust. A few
men have dominated too much the
financial nnliev nf tho nfrv Tn
consequence the people have resolved
that something was wrong with these
men who have multiplied multimillion-
aires and paupers at the same time.
They have put the democratic party in
power because they thought there was
something wrong in the taxation and
financial systems"
After saying that he did not know
what the remedy should be, Mr.. Clay
ton declared that he did not think there
would be a panic.
But there must be REFORM he con-
cluded.
Former Senator's Views.
ing that when Congress cares to settle
the currency problem it will take the
bankers advice and settle the question
exactly opposite to that ADVICE He
said he did not think there was SO much
wrong with the currency system as the
politicians would have the country be-
heve. The principal trouble, he said, il
that the currancy question is in politics
Il do not believe that the currency is
part of the banking 'systeE." he con-
tinued. There will be less trouble with
the currency system when bankers pay
less attention to the currency and ~naore
to banking. My judgment is thafsthe
government Of the United States should
stand ready to fill the Golfers Of every
solvent bank with funds"
Referring Congress- oeoi he +
that he once thought that being a mem
Der OF Congress was a sign that a mar
was great but that now he believed i,
is often a sign of "volubility. instead o.
real ability" AS a whole, however. h.
declared that he thought that Congress:
wants to do the right thing by the PEG
pie of the country.
my judgment Is that Congress should
not deal with the currency system a,
the present Congress- he continued
Most of the members do not know enough
about II. Nothing should be done, a,
least at the extra session. II Congress
revises the tariff wisely 1t will do quite
enough.
Strict Appliance Disturbing.
Il am not foolish enough to believe tha
a strict appliance Of the democratic tar
liz policy wiz not cause some disturbance
Upon this revision Sesbe ,tarifr production
must depend. The Neutrality-suspicious.
that they can produce at lower Scst~Bu
j want the democratic policy tried. and
believe the country wants It tried. too.
How wide and deep the effect will b,
will depend on how long Congress take.
to do its work II Congress does 1t quick