Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-10-10
MurmurS Heard Against
CHASING of Bankers as
Enemies of Public.
PRACTICAL VIEW GIVEN
OF THE CURRENCY BILL
Belief Expressed That Measure
May Pass if Consideration Is
Made Nom Partisan.
BY N. o. MESSENGER


Well Informed senators say there is fair
prospect of favorable and reasonably
early action upon a currency bin. if con-
sideratfon of the measure In committee
is made non-partisan. Otherwise pro-
tracted discussion is certain when the
Dill is taken up in the Senate Some
prominent democratic senator's entertain
DOUBT OF the outcome of efforts TO bind.
oy caucus resolution, all the democratic
senators to support of the House bill
From senators of both parties are heard
murmurs of protest against continu-
ance of a policy of arraignment of the
bankers of the country as enemies of the
public-which, IL is said, has already gone
TOO far There is also frequent express
sion OF the opinion that the pending legis-
lation is being made too much of a po-
iitical measure: the game is being over
played in this respect. it is protested
In the debates i'm the House, by state
ments and views attributed to hign
sources In and out of Congress, the IN
sinuation has been persistently fostered
tnat the bankers are arrayed against the
bill merely out of sinister motives and
for sordid and selfish reasons Senators
declare that insidiously and skllfully the
public is being taught to believe that
the common welfare is on one side OF
terests on the other. the dividing line be-
ing acceptance of opposition to the
pending bill. Line upon line and precept
upon precept this Is being ground into
the mind of the people. the suggestion
being that banks and bankers are wicked
and designing and that only the politi-
clans can save the country from disaster.
Directorate Numerically Strong.
There are some one hundred thousand
directors of national banks in the coun-
try. men picked from the business ele-
ments of their communities by the share
holders in the respective banks. to man
age the capital and deposits of the banks.
These are the bankers against whom full
minatiops are directed
The bank directors of the country are
responsible for the deposits intrusted to
them to be preserved from peculation
and from unwise disposition by loans
The pending currency bill proposes new
and novel methods of handling the bill
Hons of deposits In the banks of the
|, country. 1t lessons the control over the
deposits by the directors of the banks
and shares that control with politicians.
1t is charged.
The bankers Of the country have ex-
pressed their views upon features OF the
bill Because these views have not CO.
incided with those of the authors of the
measure 1t has pleased politicians in Con-
gress to denounce the bankers enemies
of the people and seekers after ulterior
ends
Strong Protest Anticipated.
There are signs that I'm the Senate a
vigorous protest will be made against
continuance, either openly or covertly, of
this policy of denuneiation. Bankers.
bank directors and the shareholders OF
national banks are protesting against
being gibbeted as maig influences in
the nation. They are protesting to sena-
tors and in vigorous terms.
For. after all, it is not alone the bank
ers themselves who are being pilloried
for they are but representatives OF ihcstt
who create them, the shareholders. men
and women who contribute the capital
with which the banks operate. These
shareholders comprise seven m llions OF
American citizens, who are much in
terested in the welfare OF the nation AMI
it's business as are the theoretical states
men and politicians.
There is no question i'm the minds of
many senators that a less hostile and
truculent attitude toward banking inter-
ests will have to be manifested from now
on if the currency bill is to become a
law, and that the bill will fare better
IL less stress is made upon its being A
purely political measure.
to be fostered by politicians i'm Congress
that big banking Is trying To defeat the
bill was conveyed i'm the testimony Of
Frank A. Vanderlip before the Senate
committee this week. He is ,unquestlon-
ably affiliated prominently with big bank
ing I'm it's broadest sense, head of one
of the largest banks of the land.
Criticism From Practical Viewpoint.
Mr. Vanderfp not only refralned from
rejecting the bill, was expected, but
actually indorsed many of its salient
features But he took the liberty OF
criticisng it from the viewpoint OF the
practical banker as against that of the
politician: I'm behalf of the shareholders
and depvsitors in his bank, whose mill
lions are i'm his Keeping, as against the
theories of statesmen. some OF whom
have neither technical knowledge of the
sui; ;ect nor probably very large stake
IL the saine.
1T is stated with authority that the net
result of Mr. Vanderp's testimony-this
reputed representative of big banking
was actually to make the bill more ac-
ceptable to several members of the com
mittee who were in doubt about some OF
its provisions.