New-York tribune., 1918-03-07
.cAdoo Shorn
OF Power Over
Stock Is sue S
Secretary Approves Senate
Amendment to Finance
Bill
staff Correspondence

WASHINGTON, March 6.-Power to
suppress security issues, of which the
Administration may not approve, was
shorn from the half billion dollar war
finance bill by the Senate this after
noon, despite vigorous opposition from
the Administration forces
compromise amendment. which
authorizes "Capital Issues Commit
tee to consider proposed security
issues and determine whether such
issues are compatible with the pub
lie interest,"" but with no power to
prevent such issues, even if they arc
held incompatible with the public in
terest, was adopted.
The House Ways and Means Commit
tee in executive session to-day COM
pleted it's draft of the bill and expects
20 report it tomorrow. The committee
retained the original provision for com
pulsory licensing of security issues,
but raised the exemption to 100000.
Another amendment fixed the mem
bership Of the capital issues commit
tee at seven instead of five. and still
another provided that the operations
Of the corpol alton should be confined
to the United States and to American
corporations.
In the debate preceding the adop-
tion of the Senate amendment, Sen
ator Lodge characterized the section
which would have made it penal Of
fence to violate any of the licensing
regulations drawn up by the Capital
Issues Committee, as needless, dan
gerous and likely to lead to great
abuses"
"The greatest financial trust the
world has ever seen would result
Senator Underwood declared.
"Therc is tendency to ccntralze
authority in The Secretary of the
Treasury that is unthinkable." said
Senator Harding, of Ohio, in attacking
the bill pending before the Senate
McAdoo "Willing Horse"
"He may be infallible will assume
that he is invulnerable, but we usee
to say: Don't ride a willing horse tt
death
Eve are war mad. In the name o.
war, we have gone crazy. l intend te
be considered as one of the Senator!
rubber stamp or othe rwise-com
mitted to this war until Germany j!
! brought to terms, but | reserve the
right to vote against measures not di
rectly connected with the winning o
the war. In my Judgment, the pending
measure has infinitely more to do will
the period after the war than during
it,"
He continued that there should b.
some Federal control of security issue
during war time, but contended tha
! the desired object could be reached
through an amendment to the existn.
/ banking and currency act. probabl.
better than through the creation of
new corporation to handle the matter
Referring "to an orgy of extrava
.ance," Senator Harding covered
wide range of subjects in his speech
Some of his more striking sentence
were:
"You will never be able to un
scramble the railroads after the war.
"Mcn who haven't bought hamme
want to build ships for the govern
ment They want the United State
to build their plants. furnish all tn
material, pay their workmen and Civ
them a commission.
"The Postmaster General. wh
doesn't know one-tenth as much abou
the telephone business as I do, pro
poses with a wave of the hand to TAX
over all the telephones.
Everybody is working for his owl
reformation in the name of war.
Charming Women Want Vote
"Countless charming women call o.
me and ask that they be given the vot
as war measure.
Between 100000 and 100000 i
voted for drainage ditch in my state
so that land can be reclaimed to rails
crops for tho Allies. 1t will take thre
years to finish the ditch.
"The Secretary of the Treasur
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