The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-07-10
personal Choice" Of Prcsi.
dent Regarded as
Trust Ally.
FIGHT GOES TO THE
SENATE NEXT WEEK
New York Banker VIII Let His
Name stand for Reserve
Board.

WAsHiNGroN, July ?.-Thc Senate
Committee on Banking aud Currency
voted Z to- 4 to-day to report unfavor-
ably the nomination of Thomas y. Jones
Of Chicago for the Federal Reserve
Board. The committee also went on
record in favor of holding up the NOM
ination of Paul NJ Warburg until no
consents to appear before the commit
toe
This WAS the answer uf tho Senate
committee to President Wilson's pub
lie criticism of its methods in holding
M the nomination of men connected
with big business"
Just about the time the committee
was making statement which
amounted To charge that tho Senate
committee had misreprescnted tho tes-
timony OF Mr.. Jones before II. The
President insisted that his characterize
ton OF Mr. Jones's purpose in entering
+ the directorate of the Harvester trust
as rcformor was correct and that
nothing in Mr. Jones's testimony be-
/ fore the Senate committee could no
construed as contradictipg this.
chairman of tho Banking and Currency
! Committee. replied that he would be
glad To send tho President a verbatim
copy of Mr.. Joncss testimony. Mr..
Hitchcock stood squarcly on tho state
mcnt he made regarding the testimony
on behalf of the Senate committee.
Mig Fight RcEun.
Tho issue between the President ana
the committee over the Federal Reserve
Board nominations is thus squsrely
Joined and a bitter fight is in prospect.
ON all sides tonight 1t was aclnowl-
edged that the struggle will involve
more than tho mere confirmation or re-
lection by the Senate of Mr.. WarburE
and Mr. Jones The fight will give ex-
preston to the long smoulderinG re-
sentiment at what members of the Sem
ate have characterized as Executive
domination.
J The President has decided tn make the
issue a finish fight and he has received
assurances from both Mr.. Jones and Mr..
warburg that they will permit the use
of their names to the end. Mr.. WarburS
in his assurances. however, has reiterated
his determination not to yield to the Sen
ate committees request that he submie
to an examination.
Senator Hjtchcock's adverse report viii
he made to the Senate In executive ses-
sion early next week II will be writ
ten report accompanied by the testimony
taken in the case and certifcation of
, the court proceeding In the International
, Harvester Company cases brought by tina
Federal Government and by some OF the
States.
\ motion probably will be made in ths
Senate TO discharge the committee from
the further consideration OF the Warburs
r nomination and bring It directly before
the Senate, where 1t can be considered
, along with the Jones nomination.
:, one of the first moves In the fight be-
= tween the President and the COMMITTEES
, came to-day when an unsuccessful effort
=, was made to report favorabS a resolution
. increasing the member ship Of the Banking
and Currency Committee by ono. The
fight on this resolution Will be carried n
tho floor OF the Senate and II II is suA
: ccssful another Administration Senator
will be added To the committee.
The Presidents statement in regard u
q tho Senate committee was made In his
r talk with newspaper correspondents TO-
5 day
II was IN reply to questions based on
the statement given out by the Senate
!. committee, which represented Mr., Jones
In his testimony before that body as hav-
y ing approved the present policies or the
Harvester trust and denying by inference
4 the statement OF the President that Jones
" had Joined The directorate OF the iiar-
d vcster company in the role OF a reformer
n The President was asked II tho statement
p of the committee had shaken his con-
, ndence I'm the accuracy OF hts own char'
n ,cterization of the reform programme
4. which had inspired Mr.. Jones to seek
u place ON the directorate.
's wilson's stand nshakrr'
"a, The President replied win empnan'
m that his confidence in hi' own statement