The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1915-04-15
Sees Politics in Rigs Suit.


In the suit of the Riggs National Bank, of this
city. against high officials of the Wilson admins
tration discerning writer on financial and COM
merclal topics, Mr. B. {. Forbes discovers politi-
cal significance of vastly more importance than
the question of what may be the outcome of the
suit. He believes it proclaims that the breach
between the nations men of large affairs and the
administration has become irreparable and that
the first gun of the Presidential campaign of 1o16
has been fired in the courts of the District of
Columbia. The Herald reproduces below Mr.
Forbes article in the New York American:
The first gun in the Presidential campaipn has
been fired. perhaps unwittngly.
That is the verdict of influential circles.
inc shot, OF course, is that aimed by the power
tul interests behind the Riggs National Rant of
Washington, at Messrs. McAdoo and Williams
PRESIDENT Wilson's friends in charge of the Fed
eral Treasury.
1t is a shot that is likely to reverberatc
through American political and financial history
Nothng quite like 1t has ever occurred in the
past. " '"
Yesterdays developments were full of pi-
quancy. -
Comptroller John Shelton Williams declared IN
Monday that the Department of Justice engaged
the services of Louis d. Brandeis OF Boston. some
weeks ago as special counsel in the case"
attorney 1eneral Gregory cmphaticaly denied
this yesterday The Department of Justice, he de-
ciared, had NOT been considering any proceed
ings against the Riggs Bank and had Nor re-
famed Mr. Brandcis as special counsel (Mr
Brandels appeared on the scene Yesterday
Inns 1nystlhed the financial community even
though experience has demonstrated that official
statements from high members of the present adj
ninistratron cannot always be accepted literally
Adoo once accused New York bankers of wilfullv
depressing the market value OF government bonds
and later failed signally to prove the serious
charge-or to retract it when he learned the factS
recalled a1Sn that 4,
burieSon recently accused the railroads of loot
ing the United States government charge which
the railroads immediately called upon him to
prove-but called in vain
The language used by Comptroller Williams on
several occasions was also recalled and the cx-
pressions used by him in the Riggs controversy
were called-well. such are not becoming a
gentleman occupying SO high an official position
under the I nIted States government.
MIR. Williams expression that the Riggs Bank
had had the "tcmerty" to lay its case before
court OF justice evoked caustic comment
why doesn't Mr.. Williams throw the Ripcs
Bank officers into prison for lese majeste?" asked
one banker The idea of American citizen
seeking Justice IN court of justice must be abhor-
rent to the clique surrounding Mr. Wilson and his
son-in-law.'
All possibility of a reconciliation between the
present administration and responsible business
men is now believed to have vanished, thus multi
lying the repeated recent efforts of Washington
to win over men OF large affairs the doors OF
the countrys work., ono OF President Wilson'S
emIssarlcs phrased it a few weeks ago.
Alter recountrng the record of the Wilson ad-
mlniStration IN both foreign and domestic affairs
one keen observer cited the November election re-
turns and the Chicago mayoral Republican land
slide, and then remarked: The Wilson admins
tration got IN on a minority and promises to go
out UNANIMOUSLY.
The hope was entertained in METROPOLITAN 6nan-
ola circles that the Treasury officials would bury
the Ratchet when they confessed their impotency
to handle the crisis threatened by the outbreak
OF the European war and threw themselves upon
the mercy OF the very banking leaders they had
previously desplsed. When there was giants work
to be done last August, the Treasury heads were
willing enough to become fgureheads, obedient
TO the guidance of men of practical financial ex-
perience and OF international vision and knowl-
edge.
But the Riggs disclosures reveal that Messrs
McAdoo and Williams did long remain
quieScent.
The new outburst has produced tremendous
sensation in banking circles
The stake IS regarded as incalculable.
The quarrel is not merely one between an ex-
Washington bank. Its ramihcations take in the
whole Wilson administration on one side and in
directly, the National City Bank of New York, and
all its associated interests on the other, although
this bank dlScalnS all responsibility for the suit
The verdict to be rendered by the courts, it is
hgured will be OF secondary importance to that
rendered by the general public. Both sides are
already using the great weapon of publicity to
its full capacity.
Ii Mr.. Williams can demonstrate to the salts
faction OF the American public that his sole motive
has been regard for the general welfare and that
he has not been influenced in any way by his per-
sonal business experiences and by the testimony
OF the Riggs Bank representative before the Senate
Committee that he considered Mr.. Williams totally
unfit, for temperamental as we'll as other reasons,
to occupy high office in the Treasury then the
public will stand by him Loyalty even if he may
have technically exceeded his prescribed powers.
and the upshot of the whole episode will greatly
benefit the administration.
If, on the other hand, the public becomes con-
WINGED that Mr.. Williams used his office to pay off
and his confreres from ignomnous defeat and
disgrace
Developments will be followed very closely
Ans,xerina a WEnnl 0,>.A;on