Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-06-14
SPLIT
OVER HENRY PLAN
Bill to Reopen "Money.Trust"
Probe Causes livelieSt
Kind of a Row.
SITUATION ADMITTED
TO BE SERIOUS NOW
Threatens Failure of President Will
sons Plan for Currency
Legislation.

Representative Henrys bill to amend
the banking law with view to reopen
ing the money trust investigation, the
same to be in lieu Of any other action on
currency legislation at this session, has
precipitated the liveliest kind of a row
in the democratic party in Congress.
More than that. the scrimmage shows
signs of extending into the national ad-
ministration and echoes of 1t may even
be heard around the Presidents cabi-
net table. That the situation is serious,
threatening the failure of President Will
sons plans for currency legislation, is
admitted.
Intimation of likelihood of this action
by Mr.. Henry was published in The Star
week or SO ago. The introduction of Mr..
Henry's bill, following the suggestion of
Secretary McAdoo for utilization of the
five-hundred- million dollar emergency cur
rency fund, creates a situation for the
President, in the opinion of President
Wilson's friends at the Capitol, which
he will find difficulty in overcoming
One serious phase is the possibility that
the House leaders, who up to this time
have been opposed to reopenng the money
trust inquiry, may now swing into line
with Mr.. Henry, as they are opposed to
currency legislation. and find In the
Henry bill a ready weapon to bat cur
rency reform over the head and at least
stun it until next session
May Appeal to Caucus.
Mr. Henry does not propose to rest con-
tent with possible refusal of the House
committee to report his measure favor
ably. After waiting a reasonable time.
1,n will 70 fho o<a1In 9
and expresses the belief that he can win
a majority of his colleagues to his view
and force the bill out of committee.
Two elements in the present state OF
affairs contribute to the possibility of Mr..
Henry's confidence not being misplaced.
First, there is the undOubted disinclina-
ton of a great many democrats to take
hold of the currency question at this
time-a question with which the new
The summer is upon them, the tariff
halts. affairs back in the ''deestrick'
beckon them and they fain would get
away.
In the next place, Mr.. Henry has
sounded a note which finds echo in the
encroachment of the money trust and of
Wall street. 1t sounds good to many a
western and southern democrat.
Persistently in the past two or three
weeks the Tul1OF mas peTVaOeO the lOD-
bies and committee rooms of currency
bill classed as being favorable to the
banks. That the tendency of such a de-
scribed bill could be nothing more than
rumOr was assured from the fact that
the rank and file knew nothing of the
terms of a proposed bill because no bill
had reached the point of perfection
where it could be exhibited.
Opposed to Currency Legislation.
Anyhow, even though the report may
have been, as alleged by some, crossed
on suspicion and unfamiliarity, the fact
remains that day by day there has been
building up wall of opposition to the
Presidents desire for currency legisla-
ton. and that opposition was in part the
aforementioned natural disinclination of
men to tackle this big subject and in
part increasing doubt as to the nature
of legislation which might be passed
The fact that Mr.. Henry Is a close
friend of William J. Bryan, and that
there has been a dreibund of friendly as
sociation with Samuel Untermyer has
led to the circulation of other rumors-
and in this article they are distinctly
that President Wilson's Secretary of
State was not in sympathy with the ef-
forts for currency legislation and that he
was in accord with the enry-Untermyer
plan to reopen the money trust investiga-
ton.
The advocates of currency legislation
are dismayed over the outlook. Asking
remedial legislation from the administra-
ton, they stand good chance of getting
feared by some of them, add to an al
ready uneasy situation.