The Cape weekly tribune. (Cape Girardeau, Mo.) 1914-1914, 1914-07-10
In Official Statement He Tells
Senate to Confirm Jones
and Warburg
THINKS BIG BUSINESS
o. X. If THEY ARE GOOD
Says Country Should support
Capitalists Who Are Honest
in Their Work

Bg telegraph 10 The TubWr.
Washington, July S..ln an official
statement issued from the White
House today 10y President Wilson,
he announced his intention OF taking
up the cudgclS in defense of Thomas
y. Jones aud Paul Warhurg, two
OF his nominees tor the Federal Re-
serve Board These men are now
under fire in the senate.
President Wilson stated that he
hoped NIr Wmhurp would recon-
slider his decision to have his name
withdrawn aud hat hc was urging
him to du 50. lie expressed conf
drncc that Jones would he confirmed.
The Chief Executives statement
defended in a measure the men who
have been engaged in big business.
This was construed 10y many in
nucntial Democrats us an effort
to discourage the trouble makers in
the senate
In this connection, President Wilson
said: 1T is clear to all thouuhtfuI
men that those who have tried to
make big businc.s what IT ought to
be are men who ought to hc "nCour-
aged whenever they respond without
reserve to the call of public service,
Warburg in his message to the
Senate Committee last night virtually
eliminated himself. He requested
that his name hc withdrawn, and il
the committee has acted according
", it is possible that the President
will he compelled To send the name Of
Warbrr to the Senate the second
time.
Prcsidut Wilson's statement today
came az bomb to the members Of
the Senate Banking Committee who
have been attempting to reflect
upon the Presidents judgment Just
what action MIR. Wilson will take,
no one even has the tcmcrity to pre-
dict but it is generally believed
that the President will 90 the limit
to win his point,
Some have suggested that he may
appear before tie committee in an
effort to have the Senators confirm
these two men. President Wilson
has great faith in both Of them and
he is especially anxious to have them
on the board, 1t is understood that
Mr.. Jones is the executives choice for
Governor Of that important body.
Ir was said that the organization
of the new federal reserve banking
system would not be delayed by the
failure Of the Senate to act promptly
on two Of the nominations for MEM
bers of the Federal Reserve Board.
The three nominees who were con-
firmcd Monday and the two eX-oficio
members of the Federal Reserve
Board, Secretary McAdoo and Comp
trollcr Of the Currency John Skclton
Williams, composing five Of the seven
members, may 90 forward and organ
ize and il was stated today that
that is what would be done.
The administration Is getting more
anxious daily to get the new federal
banking system in operation. 1t has
been nearly year since the president
was demanding that Congress stay
in session and pass the currency
bill to relieve the country from the
possible effects of tariff legislation,
The country has been waiting for
the new banking system to get under
way and murmurs have reached the
White House and the Treasury De-
partment from commercial centers
that the matter has been deferred too
long. Business men are getting eager
to see the new system tried out and
to have the country, relieved from a
measure Of the suspense that is
hanging over business.