Evening star. [volume] (Washington, D.C.) 1854-1972, 1915-10-22
SENATOR weeks REPLIES
TO CONTROLLERS SPEECH
Reiterates Mr.. Williams Acts To-
ward National Banks Are Too
Paternalistic, at Least.
Speaks Before New York Credit
Mems Association and Criticises
Recent Address in Kentucky.

NEW YORK. October GA reply to
the speech Of John Shelton Williams
controller of the. currency, delivered
before the Kentucky Bankers Assoc1-
alton. in which the controller charged
! the national banks with charging ex-
tortionate rates of interest, was made
by Senator Weeks OF Massachusetts,
last night before the New York Credit
Mems Association Senator Weeks.
whose criticisms of the conduct of the
controllers Office by Mr.. Williams were
in part the cause of the remarks made
by Mr.. Williams in kentucky. reiter-
ates the charge that Mr.. Williams acts
in regard to national banks have been
inclined to be too paternalistic. to say
the least Senator Weeks said in part:
In an address delivered before the
Kentucky Bankers Association Octo-
Der the controller of the currency. to
whom 1 have referred as having been
one of those who has. in my opinion.
been inclined to embarrass and restrict
rather than facilitate reasonable busi-
ness operations. took occasion to make
an extended reply to my criticisms.
When Mr.. Williams was appointed con-
troller of the currency ! greatly doubt
ed his fitness for that particular posi-
ton, as did many others who had to
pass on the appointment. Being now
somewhat more familiar with his tenn
permanent and his manner CT conduct
ing his Office, my doubts have become
convictions. l did not, however. make
criticisms of the controller for per-
sonal reasons. but simply to illustrate
what 1 think is a growing and bad
eminent. and Mr.. Williams in his reply
seems to lose the point which 1 am
trying to make.
II might state it little more spe-
officially. I attempted in the argument
which he criticises to point out the I'M
desirability of bureaucratic govern
mental interference in the conduct of
business. and especially in cases where
the bureau officer was not acting under
specific provisions of the law, but under
rules promulgated by himself or whims
which happened to appeal to him for the
time being. In looking for concrete ex-
amples of this kind. 1 found what
seemed to be some Of the most fragrant
breaches of reasonable action in the
conduct of the controllers office by Mr..
Williams. and. as I was addressing an
association of bankers. 1t seemed par
ticularly appropriate that 1 should re-
fer to these activities of the controller.
with which they were more or less IA
miliar. to illustrate my contention.
Senator Weeks Criticism
"Mr. Williams cites the law in his ad-
dress to show that he has authority to
make thorough examination of the af-
fairs of national bank at any time.
did not even suggest that he has not
such authority and have not criticised
him for examining any bank If there
was a good reason for doing 80. What
did criticise was his telegram asking
why a higher rate OF interest than 6
per cent was being charged and his i'm
plication, and threat in tone, which ao-
companied the suggestion that no high
er rate should be charged. His conten-
ton that 6 per cent rate Of interest