New Britain herald., 1917-02-13
B|G BUSINESS HIT
 BY ONE OF ELECT
Republican Congressman Tells
 How It Had Clear Road

"dSIllISLoIl, " r eD lO-l He DuIuou of the charges by Congressman Lind bergh against the federal reserve board, made late yesterday afternoon is that the members of the federal reserve board have aided certain al- leged "conspirators'' with the intent 'to coordinate big business and speculation for the benefit of the said group of operators and speculators."
 According to MT. Lindbergh, the Conspiracy" began in 1906, when tho late J. P. Morgan, Paul Warburg, & present member of the reserve board; the National City Bank of New York, and other banking firms and persons "conspired to obtain currency legis- lation in the interest of "big business and the appointment of a special board to administer such law. The plans of these "oonspiratora" MT. Lindbergh ayers were successful, and the members of the federal reserve board have so administered the law that "big business has derived prac- tically all the benefit therefrom.
 Members of the advisory council of the federal reserve board are included in the general charges made by MT. Lindbergh, but the impeachment re- lates only to w. P. G. Harding, gov
 
 and Frederick A. Delano, Adolph c. Miller, and Charles s. Hamlin, "the five active working members of the federal reserve board.'
 Allegations Sweeping.
 The Minnesota member makes no specific allegation against the mem bers of the board, but brings the sweeping accusation that the entire
 
 law has been in the interest of big bankers and finanoiers. In conclu- sion he asserts that "the federal re- serve act is void and unconstitutional, but otwithstanding the conspirators aforesaid have so manipulated things as to prevent the question of con- stitutionality of the act from being brought before the courts"
 Mr. Lindbergh has made many speeches in the house alleging the ex- istence of a money trust and on more than one occasion has attacked the Glas- Owen currency law as reac- tionary and harmful legislation. He has also criticised the federal reserve board.
 MT. Lindbergh prefaced his formal statement with the contention that he could prove his charges by circum- stantial evidence and ito mathe- matical certainty by figures" As an echo of his money trust" charges, he traces an alleged conspiracy back to 1906, when, he asserts, the late J. r. Morgan, Paul M. Warburg, then. a member of Kuhn, Loeb x Co.,; Lee, Higginson & Co.,, Kidder, Peabody & Co.,, the National City Bank of New York, the First National Bank of New York, land various other persons and firms" conspired ito devise means through social, political and other ways of strategy and by general chi canery to deceive the people of the United States, the president, and con- gress, providing for a new monetary and banking system to have in it a provision for @ managing board vest ed with unusual and extraordinary powers, and to secure persons for mem bership on the board who would by subterfuge,, manipulation, and false administration so manage as to avoid the spirit and purposes of the people of the United States
 He adds that MT. Warburg partici- pated in drafting currency bill and was instrumental in promoting the ap- pointment of board ito carry out the designs of the conspirators afore- said" also that a propaganda cam paign was inaugurated by "big busi- ness'' and that in newspapers and magazines, a reserve act in keeping with the desires of the "consplratorS was finally approved.
 Properly administered, says MT. Edinburgh, the federal reserve act may correct some of the evils of the cur rency. system heretofore in effect, but, ba saws it contains provisions which ,nake it, possible for a board to; so ad- minister it that it is worse than the ola system. He adds that the federal reserve advisory council, as well as tbe federal reserve board, "are men with enormous business interests, ana all of them have been for more than fifteen years last past, and are now extensive operators and spectators for individual profit and gain in the market and control several of the largest banks in the country
 Several members of the council, Mir. Iindbergh says. own stock in the National City Bank of New York ana the First National Bank of New York, these banks being the two banks charged hereinbefore with being par ties to said conspiracy and said mem hers also own stock and are interested in business managed and controlled bv the parties specifically named as the conspirators.'
 MT Lindbergh charges that Paul M. Warburg was party to the conspir- acy at it's original formation, and that all of the members of the Fed eral Reserve Board and the Federal Reserve Advisory Council are asso ciated with and form a part of group of promoters and spectators, the individual members of which re- side in various parts of the United States and a few in Europe; which group individually and collectively deal in credits, stocks, bonds, securi- ties, and various promoting enter