Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1914-07-10
Why THE SENATE DEMOCRATS ARE Baking


confirmation Of a presidential appointee Thorn
as ID. Jones as a member of the Federal Reserve
Board
AS reported yesterday by cable, the attitude
OF the committee is due to the fact that Jones is
member Of the International Harvester trust.
Well-informed observers of Washington affairs
also know that this is only part of the story.
The rest of it affords good evidence that Presi-
dent Wilson is losing some of his strong sup
port in the senate and that certain Democratic
congressman are giving vent to the feelings of
Irritation that have been growing ever since
Wilson's Mexican policy failed to produce i'm
mediatey beneficial results
The fight on Jones has been embittered by a
controversy in which President Wilson has had
an unfortunate part. Jones is retired lawyer
and became best-known to the president as
trustee Of Princeton University, in which capa
city he won the esteem and confidence of Mr.
Wilson. His dictatorship in the harvester trust
aroused considerable criticism of his appoint
nient, it being pointed out that he is code
PENDANT in the civil suit brought by the depart
ment of Justice to dissolve the trust
President Wilson's reply to this criticism was
letter which preciptated the unfortunate sit
nation referred to- In his letter the president
ter trust stock, which he had purchased so that
he might qualify as director, and the presi
dent emphasized that he might assist in with
drawing the company "frOm the control which
had led it into the acts and practices which have
brought it under the criticism of the law officers
of the government"
The president also said that in this plan of
reform Jones "has been very effective"
w n
Harvester Company, Immediately replied with
a letter which in effect accuses the president of
misstating the facts. He declares that Jones
was suggested as a director by President Nc
Cormick of the trust, with the assent of the
other directors, and that his entry as a direc-.
tor was not at all for reform" purposes, par
ticularly as he became a director by the votes of
the "yery men responsible for the company's or
ganization and management" He declared fur
Their that there has been no revolution in the
management or methods since Jones became al
director and that all the directors stood together
In upholding the company's methods as fair,
honorable, aboveboard and legal Jones fol-
lowed this with a published statement that he
had become a member of the directorate at the
invitation of a number of friends
Perkins letter at once raised recognized is
sue with President Wilson. The Outlook, which
certainly has the appearance of treating the
matter fairly, thus states the case:
The difference between President Wilson and
Mr. Perkins in this matter is a difference of We
racity. Mr.. Perkins speaks from frst-hand knowl
edge. the president only from information and belief
Mr.. Perkins has appealed to Mr. Mccormick, the
board and to Mr.. Jones himself If he has misstated
the facts. is to prove the misstatement The
president has either been misled or is acquainted
with the facts which may not have been made
known It seems to us his duty either to acknowl
edge the error to give his authority
The man who occupies the presidency has the
trust and resp of the people by virtue of their
generation for the office he holds. The very fact
country instinctiyely wants to trust the man
who is president makes ii all the more incumbent
upon him TO exercise scrupulous care in every
statement he makes The president cannot be called
account private citizen can There is, there
fore, the greater obligation upon the president,
whoever he may be, not to accept gossip or rumor
in place of fact and when he makes an accusation,
not to do it hout investigation and without sub
Stimulating it unanswerably
When the president of the United States is
subjected to such acute criticism as that voiced
above it is hardly TO be wondered at that the
situation by. yesterday had progressed so far
that the Democratic majority on the senate
banking committee declined to stand by the
Jones appointment.
AS whole, President Wilson's selections for
members of the important Federal Reserve
BOARD have been admirable, in the opinion OF
both friendly and, unfriendly newspapers. The
other appointments are as follows:
Paul NJ Warburg, of New York, recognized
- on able scientific banker; A. c. Miller of
california. specialist and publicist in the realm
= eonca and economies: W. p G. Harding of