New Britain herald., 1916-05-08

to correct an erroneous impression in the country.''
 T have no objection,' said Rep. Glass, chairman of the banking and currency committee.
 So MT. Hill continued MT. Speaker. not long ago most distinguished citizen of the United States made this statement:
 Until the recent banking act you could not find, so far as I am inform ed, a branch of an American bank anywhere outside of the United States whereas other nations of the world are doing their banking business on foreign shores through the instru- mentality of their own banks Now, that statement was pardon able because the deadly isolation of some official positions in this country are such as excuse it. But when the head of the Bureau of Foreign com merce who is supposed to be directly conversant with such things, repeats the statement, and when. if I am not mistaken, it is again repented on the floor of this house by one, Of the leading business men of one of the largest states in the UniOn it seems to me that it ought to be cor rected in the interest of everybody.
 1T made a trip around the world in 1901, and I then found what 1 believe to be best business on earth, and that was foreign banking. l came home. and was gratified to learn that my own state had chartered bank for the purpose and that it was doing business And now, for the information of those gentlemen and the country at large, I want to tell you what a modest American bank has been doing the last A or 3 years, since 1902, in extending American business and American commerce throughout the world.
 "The International Banking Cor poration was chartered in 1902. They have been carrying on branches at Bombay, Calcutta: Canton. Cebu: Co., lon, HankOw, HOngkong. Kobe, Lon don, Manila, Panama, Picking: Saf Francisco, Shanghai, Singapore. and Yokhoma They have s37.OOO.oOo cash assets engaged in that business; and yet notwithstanding branch has been kept right here in the city ot Washington until a year or two ago, that through all these years it has been a recognized agent of the United States government in transacting bus mess in the Philippine Islands and all through the Orient, that for II years it has been carrying on this business in all the principal com- mercia1 centers of the Orient and the North American Continent, the statement is made here that we need to pass this bill-and I think we do-- which has been passed in order to encourage American business in for eign countries.
 we do not realize what American citizens are doing to carry the honor, glory, and credit of this great coun- try all over the world. It seems to me fair to make this state ment to the house so that they can realize that the bill as passed a mo- ment ago is but supplementary to what is already being done by our citizens.''
 Opposes Rural Credits.
 Senator Bandegee was one of the five republican senators to vote against the administrations rural credits bill, which passed by ma ioritv of nearly 12 to 1. Just before voting Mr. Brandegee read into the Congressional Record an editorial fl om a newspaper and pronounced the bill unconstitutional and imprac- tica ble. He spoke only a few words, as follows:
 "Mr. President, I shall take only one minute, and it is the first minute l have taken on the floor since this bill has been under consideration.
 ''This bill will do my section of the country no good whatever, in my opinion. There is no demand for it there. The loans are obtainable upon farm security from the insurance companies and the savings banks, and in my opinion, this bill and it's provisions will not be availed of at all. I would not, however, vote against the bill for that reason if I were convinced that it would be of any substan ntial benefit in other parts of the country; but I regard the bill as an impractical and unconstitutional piece of legislation, and therefore I shall cast my vote against it.''
 The rural credits bill took an un-