Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1913-05-16
CHARGES INTERESTS
ARE MAKING THREATS
SENATOR THOMAS ACCUSES BIG
BUSINESS OF PLANNING TO
sLAckEN TARIFF LAW.
CITES MAGAZINE ARTICLE
CHARGING BANKS WITH PANIC
Root and Other Recent Accusations
Secretary Redfield's Statement Crit
icized-WiIson Announces He Will
Not Permit Compromise on Tariff
Bill.

Washington, May 16.-The discus
sion of the tariff bill in the senate late
yesterday afternoon was given q SEN
! sational turn by Senator Thomas Of
Colorado, who discussed threats of
', business depression If the Underwood
bill becomes law.
The senator aroused the republican
side by reading magazine article
which alleged that the panic of 1898
was manufactured by banking inter-
ests which desired the repeal of the
Sherman silver purchase act.
According to this article circulars
| were sent out from New York to banks
demanding that they retire a part of
their circulation and call in a large
part Of their loans, with the object of
forcing congress to pass this legisla-
ton.
Senators Norris and Root expressed
surprise that such a circular had been
sent and asked if it were signed.
Root Resents Thomas Charges.
Il didn't give any name because none
appears here" Senator Thomas said
in reply 20 Mr.. Root. "The senator
knows perhaps better than l do where
it came FROM"
Senator Root said he was surprised
that the senator from Colorado should
make such absurd" charges in the
senate based upon a communication
apparently unsigned.
The senator from Colorado doesn't
have to take instructions from the SEN
ator from New York or any one else"
Senator Thomas said. He Is respon-
sible to the people of his own state. He
does NOT care wnetner the senator
thinks this is absurd or not"
Senator Page offered to give $3.50 for
the name of any Vermont banker who
received this circular, declaring he was
in position to affirm that no banker
i'll Vermont had ever received II. Sem
ator Smoot said he could say the same
thing of the bankers of Utah.
Says Circular Did Its Work.
Senator Lane came to the assistance
OF his democratic colleague by stating
that he did know banker who had re-
ceived such a communication. He re-
fused to give his name.
AS result of this circular. Senator
Thomas said, banks did retire ctrcula-
ton, and did call many loans, and laid
the basis for the panic.
Senator Smoot produced figures from
the statistical abstract showing that
circulation of national bank notes had
increased steadily from 1891 to 1896.
Mr.. Thomas declared that the panic
of 1907 had been manufactured by the
Standard Oil Company or allied inter-
ests to get thru the Tennessee Coal
and Iron deal" and to embarrass the
president Of the United States.
Senator Ransdell resumed his argu.
ment against free sugar by advancing
the view that the people Of Louisiana
did not rely upon that part Of the dem
ocratic platform praising the deeds OF
the democratic congress which passed
free sugar bill, but upon the "busi-
ness plank" which stated that no
legitimate industry should be de-
stroyed.
The senator read a letter prepared
by Representative Broussard, SEN
ator elect from Louisiana, who was
member Of the sub committee OF elev-
en- OF the platform committee at Baltl-
more. contending thta the platform
never endorsed the Underwood free
sugar bill of the last congress- nor hau
the party endorsed 1t.
"Nowhere in that declaration cine
platform)," Mr.. Broussard wrote, can
there be found any intimatoin that the
Underwood free sugar bill OF the mouse
met with either the approval OF the
subcommittee of eleven or OF the COM
mittee on platform and resolutions
acting as whole, or Of the convention
itself. as contended by the senator
from Kentucky"
K critieizes RedfieId's Statments.
Secretary Redfield's broad intima-
tion to business that the federal gov
eminent would investigate cuts IN
wages that looked like reprisals for
the massage Of the tariff bill brought
ON sharp cross fire of speeches to-
day between Chairman Underwood OF
the way and means committee and
Representative Mondell, republican. OF
wyoming, during the brief session OF
the house. Secretary Redfield's remarks
which caused the incident were in
sneech here last night before the em-
pIoying photographers.
Mr. Mondell declared Representative
IJnderwood's statement that wage cuts
would be investigated could be for
given" because it was made in the
heat of debate"
Secretary Redfield had no such ex-
cuse. he said.
..sEvery high minded citizen" Mr..
Mondell continued, "hopes for the ia
vorabIe conduct of the country's in
dustries. but l know Of no law which
saws any man shall continue to give
employment to labor under adverse
conditions and continue his business at
a loss"
Wilson Firm on Tariff Stand.
President Wilson came out strongly
yesterday as the champion of free wool
and free sugar in three years. as pro-
vided for in the tariff bill recently
passed by the house.
He announced emphatically that he
was not considering compromises of
any sort: that he stood squarely be-
hind the measure as it passed the
house; and that he regarded 1t as the
duty of the democratic majority In
the senate to fulfill it's platform pledge
by enacting the house bill into law.
Il am not the kind the president
said that considers compromises when
once take my position. 1 have taken
my stand with the house leaders for
| the, present bill. Enough said. am
mt 1O0ktuD for mr. 1rctsntinu cOn1.