The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-12-13
Stone Condemns Prac-
tice as Nothing Less
Than Scandal.
SENATORS SPEAK
ON CURRENCY BILL
Former Government Officials Are
Charged With Attempting to
Defeat Administration Meas
ure-Leaders Fear There
May Not Be Holiday
Recess After All.

Washington, December I2--Senator
stone. Of Missouri. discussing the cur
rency bill this afternoon. vchemcntly
denounced the practice of responsible
Treasury officials leaving their Of
fetal posts at the end OF their terms
ana connecting themselves with some
great financial house
Il regard this practice OF officials of
the Treasury aS nothin-, less than a
scandal" declared the Missouri Scna-
tor The Treasury too long has been
made a nursing school for bankers"
Bluntly the senator paid his respects
10 y. Barton Hepburn and Frank \.
Nanderlip. Of New YORK and Milton
.Ailcs. OF the Riggs National Bank OF
this city Air. Hepburn several years
ago was Comptroller OF the Currency,
and left that Office 10 take position
with one OF the big New York banks.
Nanderlip was an Assistant Secretary
of the Trea sury. who went 10 the Ma
iional city Bank. and Aiics. who was
appointed assistant secretary IT Van
derlip's suggestion to succeed himself,
is now vice president Of the Riggs
National Bank. These men and those
associated with them Senator stone
charges with attempting TO defeat the
administration bill. Mr. Hepburn,
Senator stone characterized AS a
financial Pooh bah" ana charged him
with Icing the chief conspirator be-
hind tho attcmp, TO discrcdi, the .d.
ministration bill
simiIe From Scripture.
referring TO TIE woman clerk placed
IN the Treasury Departent by the Ma
tonal Citr Bank and paid by them for
the purpose OF obtaining certain
advance financial data and early in
formation. Senator Stone drawing
upon the Scriptures for a similc. de-
clarcd that this was modern Deliloh
placed in The Treasury Depa-trncnt to
smear the locks Of the Samsons there >,
Inc great banks dominated bv the
wall street group" said senator
stone, have built up q great nnan-
ci"I oliEarchy. which We propose.
through this bill. TO destroy
Various Senators spoke on the pend.
ing bin to-day. Senator Borah assoil.
=" ne measure ns being TO all intents
q central bank plan. He did not thIul,
II was the function OF bank to issue
the currency of the country. After
puotihe from = speech Of George NJ
reynolds, president OF the Continen.
'a' and commercial National Bank. of
'hicngo. wherein he admitted that he
was one OF the twelve men who con
'''''''' '4l' finances OF the country
senator Borah emphasized the fact
that Mr. Reynolds had given his
approval TO the regional bank plan Of
the administration.
IT is into the hands of these twelve
men, who now control the banItinr fo :
cilit'es of the country, that senators
no" propose To place the control of
.he reserve banks and the issue OF
currency, said Senator Borah
Defends Caucus Plan.
Senator Newlands at som, lony,h
made strong defense of the caucus
plan in dealing with the administra
tion bill. He declared that "A coucus
was merely the instrument by which
administrative measures" represent
ing the results of party counsel. could
be made effective
Senator Cummins. of Iowa, declared
there would DO hope OF amendment OF
the bill If it were really under con-
sldcration and the Senators had an
open mind. That condition did not e>
list, he said.
Whenever a man says anything that
rs worthy Of being said" said Cum
mins 1T gradually. somehow or other.
SINKS INTO the minds OF the Senators
There Is only one thing that can
MI this chamber now, and that is ex-
pectatlon that some Senator is 10 call
ahother liar or something OF that
sort, or course. in parliamcntary lam
guage. We are all more or less saw
ages, and like to see the blood run.
but as my remarks are intended 10 be
peaceful L do not expect To address
them TO a full Senate. And. as | have
said. so far as this bill is concerned.
there is no real consideration. and it
makes no diffcrcnce whether argu-
ments are advanced or not"
Denies Charges.
senator Smoot. who has been dig
Ging through Treasury reports, to-day
denied the Democratic charges that
banks throughout the country. by way
OF emphasizing their protests against
the administration bill. were curtail-
ing their credits. He proved the re-
verse to he true. Divcrting to n po-
litical discussion. Senator s;moot de-
plorcd the fact that the Baltimore con-
vcntion declared against central
bank, II feel certain" he said, that
majority of the Senator'S on this
floor. certainly those who have studied
the question, are convinced that "A cen
trail bank would settle the financial
problems of this country for 100 years
to come"
Prospects of an agreement for n day
for vote are not good. Everything
seemed to be going along nicely last
night when, just before adjournment
senator owen. In charge of the cur
rency bill. moved to lay Senator Hitch
cocks amendment on the table. There
had been no suggestion anywhere OF
the necessity OF such II motion. Tho
erect OF the motion was startling. Re-
publicans Immediately protested and
expressed their Indignation.
Tonight leaders are all at sea. and
there Is fear that there may not be
any holiday recess after all
Just before II o'clock tonight Sena-
tor Cumm!ns yielded the floor to Scnn-
tor Owen. who asked tho Republicans
If there was any possibility OF an