The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1913-06-14
HENRY DESIRES
ANOTHER PROBE
CONTINUED FROM PAGE ONE.

form the Lindberg resolution, calling for
an investigation of the Money Trust
In the previous fight Mr.. Henry was
aided materially by the influence Of
william Jennings Bryan, then in private
life Now Mr.. Bryan is a member of
President Wilson'S Cabinet. and his
closest friends declare that his one pres
ent ambition is to do everything In his
power to make the Wilson administration
a success. Knowing that his Secretary
of State has pronounced ideas on the
currency question. 1t Is highly improbable
that Mr.. Wilson has permitted the franz
ing of his bill to go as far as 1t is known
to have gone without some consultation
with Mr.. Bryan. TO which side. then.
will the latter's influence be thrown in a
fight led by Mr.. Henry against the ad-
ministration bill? And II Mr.. Bryan
sides openly with Mr. Wilson. how far
will Mr.. Henry's following follow?
Leadership in Jeopardy.
The Henry hill has been referred to
the Banking and Currency Committee,
Of which Carter Glass of Virginia, CO.
author with Senator Owen and Secre-
tary McAdoo in the framing of the ad-
ministration bill, is chairman. Under
ordinary conditions, there would be lit
tie further expected from the measure.
1t would die in the committee. But last
Wednesday a subcommittee OF the
Banking and Currency Committee re-
ported in favor of open meetings In
considering the currency bill. This ac-
ton was Numerically opposed to the
desires of Mr.. Glass. 1t has been gen.
orally believed. in view Of this upset by
the subcommittee. that the full COM
mittee would follow along and disre-
gard Mr.. Glass wishes in the matter of
open hearings. A number of the ma
jority members of the committee are
opposed to banking and currency legis-
lation at this session.
Another element enters the tangle
now, however. 1t is the very substan-
tial hold which Mr.. Underwood, as ma
jority leader, has over the Democrats
in the House. The Henry revolt places
Mr.. Underwood's leadership in serious
jeopardy. 1t may then serve to bring
wavering members into line behind the
easy boss" through this very fact BY
the same token. II may serve to change
the sentiment of the Democratic ma
jority on the Banking and Currency
Committee and bring about a reversal
OF the subcommittee report in favor
Of open meetings of the committee.
Mr.. Henry himself confuses issues and
risks the loss of some who otherwise
would follow him in a fight against
caucus dominion by declaring in his
statement that THE Democratic doctrine
is that all paper which is made legal
tender for public or private debts, or
which Is receivable for dues to the
United States, shall be issued by the
government OF the United States and
shall be redeemable in coin This has
been the Democratic faith since the
foundation of the government, and
stand squarely for that doctrine" He
thus makes it a partisan issue. just what
a number of those whip might side with
him object to. The proposed bill is an
asset currency bill. Henry wants gold
secured currency. He sees in the pro-
posed bill another Aldrich plan with the
teeth hidden. Against any such charges
those who favor asset currency and a
regional system of reserve associations
controlled by a governmental board pre-
sent strong refutation.
Hchry's Statement.
The Henry statement. in part. follows:
THE Pujo Committee was powerless to
expose the existing relations
between the Wall Street bankers and
their allies with the trusts and monopo-
lies, stock gamblers, and financial con-
spirators. The Wall Street bankers are
now demanding legislation on the cur
rency question in order that they may
make a market for their commercial
paper (much of it based on rotten Sc
curitiesJ and have currency issued on
their assets.
The Baltimore platform said nothing
about currency legislation, except to re-
pudiate and denounce the Aldrich cur
rency bill 1t did. however. demand a
systematic revision of the banking laws
no might hava prntactinn
control or domination by what is known
as the Money Trust. But the Wall Street
bankers, thinking the people confused
and upset by a revision of the tariff,
and therefore lulled to sleep on the cur
rency question, had begun their old
scheme of endeavoring to hurry through
a plan giving them a right to issue or
have issued by the government land
call that currency by any name that
suitsl asset currency. 1t is the same old
game. In some way these Wall Street
bankers and their allies want to make
a market for their paper and securities
and control the currency of the country
and cause the government to abdicate
The function of issuing and controlling
the currency.
Their only aim is to pass the Aldrich
bill. veneered over so as to fool the
people, and get control OF the currency
md still further fasten themselves upon
he vitals of the republic. To me. their
scheme is plain, and, in my judgment, |
he voters will be wise to wake up and
prepare for the greatest struggle they
ever fought with the New York banking |
fraternity and the Money Trust.
No sort Of currency legislation should |
,e thought of for an instant at this seq |
ion, except in connection with the twenty |
communications made by the Pujo Com
nittee. These recommendations and pro- |
'osed legislation are of vastly more i'm |
'ortance looking to control of the bank |
ng fraternity and the moneyftrust than |
heir greedy demand to issue Or cause to |
'e issued the currency of the country and |
hus place in their hands all business, /
commerce. industry and effort. 1 warn /
he people that the Wall Street money
rust is pushing its propaganda through |
ut the country for currency legislation
o that they may get the right to issue
IT control the currency and take that
JUNCTION away from the government.
short of that will not suit them
nd they will not tolerate it. All their
literature shows it and they are sowing
he country broadcast with it.
Il am ready now for the right kind Of
urrency legislation, but never for the
Ian that turns the currency business |
yer to the banks and corporations and |
trips the government of its sovereign
ower ana snytrpc fha nax,ooratfo f.t.I !