Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1915-04-28

restraint have beNi NalyoA eomSWhA3
by the franknesa, even the sxploatvo-
ness. with which both parties % the
case have themselves rushed into print.
The Riggs National Bank has been
for many years what might be termed
the "standpat bank" Of Warrington.
Those associated with II have always
had intimate social relations with the
standpatters who were In control Of
the republican party. and therefore In
control Of the government It was, in
a way, the Joe Cannon Of tho banking
world; the standpat citadel Of fnancs.
Nobody has ever charged. SO far ~
we know, that the RIGGS bank enjoyed
illegal provileges. But that its officers
had certain advantages from their init.
mate relations with the leaders OF the
party In power has been freely CHARGED
The men who had control OF the bank
as financiers were also supposed TO be
In large way owners and spectators
in Washington real estate, and to have
made greal deal OF money thru the
growth Of the city following the great
public improvements made by the ma
tional government during the twenty
years of the republican administration.
1t ought to be repeated here that there
was never any charge OF irregular
transactions. 1t was merely charged
that these men enjoyed advantages
which sometimes flow from intimate
social relations with the leaders Of the
political party in power.
For these reasons the Riggs bank
was to the ardent young reformers of
the democratic party much the same as
Joe Cannon was. 1t personified In
way the big-business end of the COM
bination which, on the stump, they
frequently denounced as "big- business
and standpat politics" When the dem
ocrats triumphed and these men came
into power. 1t is probably not too much
to say that they were very eager to
emphasize the change by adopting q
stern attitude toward the Riggs bank.
Having this attitude Of mind, 1t il cas-
lily conceivable that they might become
more than stern-even ruthless In their
official relations with the bank. With
equabie men in the same situation this
might have been SO. As q matter OF
fact, the particular democrats who be-
came officials OF the treasury depart
ment. and therefore came into contact
with the bank, can hardly be described
as men likely to show equable tenn
permanent under these circumstances.
Mr.. McAdoo, the secretary Of the
treasury, has been the promoter Of q
large public-service enterprise In which
he interested important bankers In q
financial way the project did not turn
out fortunately. and II Is probably not
too much to say that at the end OF the
experience Mr.. McAdoo had a sense Of
defeated expectations with regard to at
least certain sections Of the banking
community.
The case of Mr.. Williams, whom Mr.
McAdoo appointed comptroller, il sim
liar. He. too, has promoted certain
large enterprises which more recently
have come to grief. Bankers associ-
ated with his enterprises ousted him
under circumstances which he consid-
cred gave him a grievance. About this
grievance he was never reticent, and
there are on record expressions of his
strong antagonism against large bank
ing interests. With certain minor Off
Gals OF the treasury appointed by Mr..
McAdoo or Mr.. Williams the case IL the
same.
Control Of the United States treasury
involves intimate and extremely dell
cate relations toward banks and bank
ers No department Of the federal gov
eminent carries 80 many opportunities
for abuse Of power. II those in con-
troll are disposed to be unfair. Those
who occupy these positions ought 70 be
men OF strictly judicial temperament,
and ought to be punctiiious TO the de-
gree of leaning over backward in the
use OF their power. Whether the pfes-
ent officials OF the treasury have fol-
lowed this course is. obviously. the real
issue in the present controversy
Golfers.