Evening journal., 1915-04-14
WEDNESDAY APR. IA. 1915
RARE THE MH0LE rHING.

q ERIOUS charges have been made against Secretary
- Of the Treasury William Gibbs McAdoo SON
in-law President Wilson and John SHELTON Williams
Comptroller the Currency the United States by
the Riggs National Bank, of Washington d. c. one Of
the largest financial institutions in the East It is al
legged by the officials of the that Secretary Nc
Adoo and Comptroller Williams have entered into
conspiracy to wreck it and that to it from the
disastrous effect Of that conspiracy they appealed
to the Federal Court for protection.
If the things alleged in the complaint be true the
action taken by the bank officials will develop into one
OF the worst scandals that have featured the Wilson
administration view of the repeated assertions that
have been made that that administration has per-
sstently made warfare upon American business since
it into power it is of the utmost Importance that
tho Riggs Bank suit be fought to a conclusion to the
end that the public may know all the connected
with this remarkable and be placed in a position
TO decide to what extent at ALL two Of the leading
financial officials of the United States Government
have been guilty Of wrongdong in connection with
large financial institution that s temporarily at least
under their control
Tho fact that Republicans Of prominence arc con-
neced actively with tho Riggs Bank and that in
tho past Democrats have hestatod TO character
ze it as "a Republican institution makes tho situa-
ton all the interesting when it Is horne in mind
that both McAdoo and Williams are prominent Demo-
cratic politicians When the suit comes 10 trial spe-
Nidi ehoIt should be made 70 ascertain to what
tent If any. the Republication Of the men who con-
troll the bank and the Democracy of tho men who con-
troll the Treasury Department were clements in the
attitude of that department toward the institution
Two things clearly apparent One is that If Sec
retary McAdoo and Comptroller Williams have been
guilty Of the onenses alleged against them by the
bank officials they unfit hold the important Of
fees they do, and President Wilson should lose no
time in Kidding the public service of them The other
is that if the bank officials have done tho things as
serted by Comptroller Williams, in an unsworn state
ment, such officials deserving Of official censure
and correction. The trial should enable the public
TO reach an intelligent decision upon the merits OF
the case
We have in this country between $500 and 5000 ma
uonal banks. Tens of thousands of men and women
have money invested in their stocks and properties
Those repositories contain billions of dollars belong
ing to the people. The Industrial, commercial and
agricultural world has vital interest in the welfare
Of such Institutions. II has a right to know how
they being administered not only from the side Of
the banks but also from the side of the government
All admit there should be honest and rational
supervision Of such banks by the Federal Government
No right-mnded man woman will contend for an
instant however, that any of them should be perse-
cuted and harassed for political or other unworthy
considerations. The issue raised by the Riggs Ma
tona Bank is an important one. 1t should serve to
shed light upon the way in which national banks are
being regulated and also may lead other banks that
may have suffered in silence to speak up and demand
protection.
American sentiment will not permit reputable ma
uonal banks to be used for political footballs no mat
ter how high how low the politicians are who NAV
seek 10 make such use OF them