The Washington herald., 1913-10-07
ACTION ON FISCAL
BILL IS DELAYED
CONTINUED FROM PAGE ONE.


Il could wish II might occur to the
Senator from Nebraska. who has had
time repeatedly to assail the House
currency bill through the newspapers,
that, IL he has several hundred amend
ments' in mind. 1t would greatly facili-
tate matters IL he would end the I'M
profitable hearings on the Senate side
and proceed with his proposed altera-
tions. 1 am prompted also TO wonder
how much valuable information the
Senator might be expected to derive
from much of the testimony already
taken, and especially from testimony
of witnesses who, before coming to
Washington, were prompted as to what
they should say when they got here.
Witness Came .sPrimed."
only a few~days ago a great mer-
chant Of the country testified before the
Senate committee, and after he returned
to his nome chuckled over the fact that
lie had advised with some of the large
bankers of his city as to what they
would like him to say. and had faith
fully followed instructions. He had been
told to come to Washington and sow
the seeds OF discomfort with the House
bill by declaring to the Senate commit
tee. as Mr.. Hitchcock has declared to
the country, that it involved a tremen-
dous contraction OF commercial credits.
His testimony was not only inconclusive,
but positively absurd: and when. upon
his return home, this fact was pointed
out TO HIM by a person conversant with
the subject, he expressed the utmost sur
prise that he had not been better coached.
and admitted with audacious frankness
tnat he had never read the bill.
yet, this witness before the Senate
IL e.
great commercial interests of America,
came here avowedly to sow the seeds
of discoDtent' with a legislative measure
of tremendous import. concerning one Of
the greatest problems Of the time! He
had been 'primed' for the occasion by
bankers OF his city. He actually thought
he was doing a clever thing; but as I
conceive, such conduct was, perhaps I'M
Willingly, reasonable"
Records .Lumbered Up"
Mr.. Glass went on to charge that the
record before the Senate committee was
being Numbered up with ill-considered
and crassly ignorant talk about the
banks being unable to avail themselves
of the rediscount features of the House
currency bill
And we find a Democratic Senator"
says Mr.. Glass. busy in the newspapers.
yersisting that he and his two Repub-
Iican colleagues, who recommended a
twenty-eight-day limit, must be given
further time to hear testimony Of this
Chairman Glass attack upon Senator
Hitchcock and the Senate Committee
caused a big stir last night. 1t is many
years since the chairman of an import
ant House committee has openly taken
TIE Senate Committee to task when u
had legislation under consideration. The
Glass statement is expected TO stir up
considerable feeling in the Senate, and is
likely I obring to a head the shoulder
ing antagonism to the House measure.
The Senate committee yesterday de-
voted its entire hearing OF nearly five
hours to Charles II. SHIRLEY. of WASH
nGton, who describes himself as an au-
thority on the cumulative theory of
money. Mr.. SHIRLEY charged, among
other things, that the professors OF
nance in the great universities OF the
United States have entered into a con-
'piracy of silence as to the truth about
lat money. He added that they. one and
all. were acting at the behest of the
great money powers, upon whom their
Institutions depend for endowment and
'ther supporting donations Of cash.
Charge Against Educators.
Mr. ShibIey. pressed by the committee
o designate some OF the university pro-
essors Of finance and economy he re-
erred to suggested that Prof. James n. |
aug him, of Chicago, had purposely !
united from his testimony any reference |
o what Me CShibley) considered the inn |
Dortant fact that since Germany had |
made the notes of the Reiches Bank legal !
ender the German gold reserve had en- !
Dyed matrial increases.
Prof Snra nj Ha rVard llSn
mentioned by Mr. Shibley He also ex- !
ressed the view that Prof. Irving !
fisher, of Yale, was sadly at sea in his |
diagnosis OF the American financial sit |
ation.
Chairman owen treated his witness |
With extreme courtesy. The other men,
Selson and Senator Weeks, were not
isposed to be SO tender with Mr.. Shib-
ey.
Later SHIRLEY charged that the Nor
an firm dictated the writing of the /
lldrich monetary plan and the Aldrich-
IRELAND bill. Senator Weeks interposed
statement that Mr.. Morgan had had
othing to do with the framing of the
MEASURE and had suggested not a single
Well l know that Mr.. Morgan sat
n the House gallery one day during
he discussion Of the bill" insisted Mr..
hibley.
Il know he did" said Senator Weeks.
but that is as near as he ever got
o the committee ROOM
Mr.. SHIRLEY invented a new word yes
erday with which he characterizes the
money power. He calls it the trust
crazy