The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-07-09
PRESIDENT STICKS
BY HIS NOMINEES
Issues Statement in Support of
Warburg and Jones for Fed
eral Reserve Board.
CONFIDENT OF CONFIRMATION
Declares 1t Unfair to Regard
Democratic Party as Enemy of
Big or Little Business.

washington July S.--Deciarihs IL
would be unfair to regard the Demo
cratic party az the enemy OF big or
little business. President Wilson to-
day gave out statement in support
OF Paul Warburg. OF New York. and
Thomas ID. Jones, OF Chicago, his
nominees for the Federal Reserve
Board. President Wilson's statemen,
follows:
II would be particularly unfair 10
the Democratic party and 10 the SON
ate Itself 10 regard IL as the enemy OF
business, big OF little. ! am sure tina,
II does no, regard a man az an object
OF suspicion merely because he has
been connected with great business
enterprises II knows that the bust
ness or the country has been chiefly
promoted In recent wears by enter-
priscs organized on a great scale. and
tina, the vast majority OF the men con-
nccted with what We have come to call
biz business are honest. incorrupt!ble
and patriotic. The country may be
certain that II is clear 10 members OF
the Senate, as * is clear 10 all
thoughtful men that those who have
tried 10 make big business what il
ought 10 be. are the men to be encour-
aged and honored. whenever they re-
spond w.ihou, reserve TO the call o,
public service.
PREDICTS WITH CONFIDENCE
FAVORABLE ACTION
II predict with the greatest conf.
dencc that nothing done by the Demo
cratic majority of the Senate OF the
United States will bc o. sort 10
throw suspicion upon such men MIR
Jones and Mr.. Warburg. In manifest
Ing their willingness - make personal
sacrifices. and put their great expert
cnce and ability Al the service OF the
government, without thought OF per
sonal advantage In the orlg!nation or
great reform which promises 10 BE-
so scrviceablc TO th. nation. are set
ting an example Of patriotism and ..
public spirit which the whole country
adnlrcs Ii Is tho obvious business Of
statesnansh!p at this turning point In
our development to recognize ability
and character, wherever Ii has been
displayed. and unite every force for
the upbuildne OF legitimate business
along the new lines which are NOW
clearly Indicated for tho future.
President Wilson tonight still hoped
Mr. Warburc would reconsider his re-
quest that his nomiua tion as a member
OF the Federal Reserve Board be with
drawn No reply had been received
from Mr.. Warburg, Tut u definite turn
in the situation was expected befor.
the meeting Of tho Senate Banking
and Currency Committee Tomorrow
Mr.. Wafburg nud Nlr Jones. friends
of The President, said. was intended
10 serve the double purpose of letting
the Senate know hc would stand by
his nominations. and .! influencing Nj.
Warburg TO stay iu the race The
President expressed confidence that
Mr.. Jones " ould h. confirmed.
CHANCE no WITHDRAW
INVITATION To WARBIRI:
An opportunity viii be afforded at
meeting OF the Senate Banking Co.n-
Initt"c Tomorrow for "A formal motion,
to withdraw the invitation 10 MIR
WarburS Ia appear II Was said to-
dag BY members that a majority prob
ably would oppose II. Acting Chair
man Hitchcock said no suggestion ha!
reached him from administration Of.
iici:ls for withdrawal or the invita-
tion.
The nomination OF Mr.. Jones also
VIII be taken UP tomorrow. 1t was
not certain to-day thar Mr.. Jones will
bc approved BY q majority.
" became known to-day that sew
cral members OF I'll. committee arc
not so much Interested in the Amer
lean connections OF MIR, Warburg az in
any Interest he may have in foreign
banking houses and in his foreign in
vcstmcnis.
SENATE ENTITLED
TO FULL INFORMATION
Senator Hitchcock. acting chairman
of the committee. to-day issued
statement In which hc said:
Il regret Mr.. Warbure's refusal to
appear before the Committee on Bank
ing and Currency In response 10 it's
inv.tation. The committee was unan-
imously OF the opinion that il was
desirable 10 meet with Mr.. Warbura,
for the purpose OF getting further
information about him Under the
Constitution and law the Senate shares
Win the President the responsible
ity of this appointment. and after the
President has satisfied himself the
Senate is entitled to be fully in
formed and the committee is the prom
er means of securing the Information.
Some criticism has been made he
cause the committee did not invite
others nominated for membership I'm
Continued on Second Pagc)