The Hattiesburg news. (Hattiesburg, Miss.) 1908-1917, 1913-06-14
HENRY OPPOSED TO
LEGISLATION On
CURRENCY
CHAIRMAN OF RULES COMMITTEE
WANTS ACTION TO GO OVER
TO NEXT SESSION..
WALL STREET BEHIND DEMAND
Is Charged BY the Texas Member, Who
Favors Continuing investigation of
the so-caiIed "Money Trust"-BilI
Will be introduced Next Tuesday.

Washington, June 14.-An under
current of opposition among a consid-
cradle number OF House Democrats to
the plan for currency legislation at
this session Of Congress took definite
shape Friday when Representative
Henry of Texas, chairman of the pow
erful Rules Committee, openly charged
that Wall street was back of the pro-
paganda for currency legislation.
While favoring revision of the bank
ing and currency laws at the next ses-
sion of Congress, Mr.. Henry insisted
that further investigation of the So
called money trust" should be imme'
diately pressed. The Pujo committee,
he declared, barely scratched the sur
face of the facts underlying the con-
centration of control of money and
credit by the Comptroller of the Cur
rency refusing access to his records,
making 1t impossible for the investi-
gators 'to completely expose the ex-
listing relations between the Wall
street bankers and their allies and
their trusts and monopolies, to check
gamblers and financial conspirators." !"
''Wall street bankers" he added,
"now are demanding legislation on the
currency question in order that they
may make a market for their CONNER
cial paper (much of it based on rotten
securities) and have currency issued
on their assets.
Mr.. Henry introduced bill to amend
the banking laws so as to make bank
ing institutions subject to inquisitor'
ial powers Exercised or directed" by
Congress or by either House of Con
gress.
While this was going on it became
known that the administration meas
ure representing the combined views
of President Wilson, Secretary of the
Treasury McAdoo, Senator Owen Of
Oklahoma, chairman of the Senate
Banking and Currency Committee, ant
Representative Glass, chairman of the
House Banking and Currency Commit
tee would be introduced in the House
next Tuesday and that the full com
mittee of the House probably woul(
meet to take up the bill day or TIVE
later. President Wilson is expected
to send a message on the subject
probably Tuesday. Mr.. Glass had
long conference yesterday with Secre
tary McAdoo, going over the detail
of the bill.
'Tt is an imperative duty to pas
currency legislation at this session o
Congress" said Mr.. Glass last night
att seems singular to me that any wei
Informed member of Congress shoul
imagine that the need is not urgent.
Members of the House committee
while disposed to follow the part
leadership are not agreed upon tn
necessity of currency legislation nov
They are in waiting mood, and seel
ing light.
Mr.. Henry, in his statement accon
panying his bill, declared "the Wa
street bankers, thinking the peopl
confused and upset by the tariff r.
vision, have begun their old scheme
endeavoring to hurry through pla
giving them the right to issue, or hav
issued by the government, asset Gu
rency. The bankers and their allie
want to make market for their papt
and securities and control the cou
try's currency and cause the COVER
ment to abdicate the function of !
suing and controlling the currency.
There is positively at present I
need of an emergency currency bi
The Aldrich-Vreeland bill is on Il
statutes and has a year to live. 1t ce
tainly suffices for that length of time
Charging that the only aim of Il
Wall street bankers was to pass Il
Aldrich bill "veneered over SO as
fool the people," Mr.. Henry said Il
voters would be wise to wake up al
prepare for the greatest struggle tn
ever fought with the New York ban
ing fraternity and the money trust"
"The Baltimore platform said moi