The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1914-10-01
Cur RI; Nc, BIZ
PASSED At Den And
OF " ALL STREET
Congressman Lindbergh IN Address
Here Last Evening Criticises 40
ton Of United States Congress.
IS USED IN SPECULATION.
Says Banking Laws Of Nation En-
tirely Wrong and That War viii
Effect Business Here.

That the 81, 500, 00O, 600 emergency
currency measure was rushed through
congress at the demand OF Wall
street, was charged by Charles A.
.Lindbergh, congressman from this
district, in his talk at the City hall
here last evening. Mr.. Lindbergh
arrived in Bemidji early last evening
direct from Washington and his talk
here was the first Of short cam
paign which he will wage for re-
election.
The congressman said that the war
situation, cutting OFF as it did rev.
enue from imports according to the
tariff law, and the drain of gold In
the United States for use in Europe,
resulted in the passage of the $500
100000 war tax and the 81 500, O00,-
900 currency measure, both Of which
were passed by congress without suf-
ficient study and investigation. He
criticised the lack of debate in the
passage OF DOth measures.
To Buy Securities.
Wall street urged the passage cf
the currency measure 2 said the con-
gresham, that it might buy securi-
ties in Europe alta low rate as. a mat
ter of speculation and profit by their
sale following the conclusion of the
war, 81 ST
This money, amounting to billion
and a half Of dollars, was sent to all
parts of the United States, Minnea-
polls securing $25 100000. Then
came the demand of the secretary
that the smaller banks stop hoard
ing and caused to be published a list
OF institutions SO doing. Uncon-
sciously the government endeayoredS
to start the money on its way to the
money centers Of Chicago. st. Louis
and New York. where 1t entered the
-bankS OF thamoney trust.
& Duty to Hang On.
Congressman Lindbergh said that
it was the duty of the small banks to
hang on to what money they have, 1t
being provided for use in the best in
terests of the community. He urged
lower interest for the farmers.
That the issuance Of the currency
was unnecessary and results in the
imitation of currency and expands
credit and causes higher interests, he
claimed.
Lindbergh condemned the banking
system as it now stands and said that
it is in every way favorable to the
interests of Wall street and enables
them to gain control of the financial
conditions of the country.
In speaking of the war situation he
said that it is bound to paralyze bust
ness conditions in all parts of the
country and will eventually effect this
section, placing money at high in
terest and making it almost impOs-
sible to borrow.
Boss Rule Continues.
Boss rule still continues in con-
gress, said the congressman. The
people know nothing of what really
goes on in congress for matters are
prearranged in committee rooms be-
hind locked doors. This, Lindbergh
has been fighting for many years and
will not be content until committee
action is public and the newspapers
allowed to print whatever is done and
said and the people allowed to know
the facts
Attorney Montreville ]. Brown.
Republican Central committeeman of
this city, introduced Congressman
Lindbergl. There were no other
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