The New York herald., 1922-05-11
PASS S5,OOO,OOO
LOAN TO LIBERIA
House Republicans Deny the
Charge That Wall Street
Backed 1t.
DUBS WILSON .OLD FOOL
Fordney Quotes Schoolboy
Doggerel in Closing At
tack on Him.
DUBs WILSON .OLD FOOL
Special dispatch to rnr Nrw YoaN HERALD.
New York Herald Bureau.
Washington, ID. c., MAY TO- (

New York Herald Bureau.
Washington. ID. c.. May 10.
/ Charges that international bankers
and Wall Street were behind the pro-
posals TO lend $4,000. 900 to the Republic
of Liberia were made on the floor of the
House to-day by Democrats Republicans
| denied the assertions and by a vote OF
14S to 139 passed a bin authorizing the
loan. which had received the approval
OF President Harding and Secretary OF
State Hughes. A motion to recommit
the measure was defeated by vote of
| 16S to 1928
! Discussion OF the loan ran the gamut
OF politics and references were made to
former President Wilson and his Cabinet
and the present Administration. Con-
stitutional experts of the House denied
there was legal reason for> making the
loan and stated that the Supreme Court
OF the United States did not recognize
a moral obligation.
Representative Fordney (MichD, in
charge of the measure. after explaining
the need for the loan. was heckled by
the Democratsi
Wilson as Target.
Have you any school teachers in
Michigan" asked Representative Low
rey (Miss.).
None who have received their edu-
cation in Virginia" responded Mr.. Ford
ney. The veiled allusion to Mr.. Wilson
caused loud applause.
"The gentleman says q school teacher
Is not much of man outside of his
own job?" inquired Mr.. Lowrey.
| Not unless he has considerable train
! ing in some other line" said Mr.. Ford
ney Take him direct from school to
the White House and he is a glorious
mist. AS a political boss he worked well
for while. but he finally overstepped
himself"
But" persisted Mr. Lowrey. IT under
stand that in the gent1eman's State
school teacher is not much of a man."
Let me say that in that connection
in 1920 l made this statement. that the
then President was going to change his
boarding house on the 4th of March, and
he did" remarked Mr.. Fordney. Il
said we would say to him what have
sung at the close of a school l attended
down in the backwoods:
Goodbye scholars, goodbye school.
Goodbye teacher. you earned ola 1901.
Representative Garner (Texas) in at
lacking the measure asserted that
Woodrow Wilson needed no defense of
his Administration and that time would
demonstrate that he was one OF the
greatest Of Presidents.
The Texas member then charged that
neither Mr.. Wilson nor any other had
authority under the Liberty Loan act
to set aside $5.000.000 out of the Treas
ury as loan TO Liberia.
! Majority Leader Mondell expressed
the view that Mr.. Wilson had that
right, but Mr. Garner said no one who
voted for the Liberty Loan act ever con-
| templated that authority was given to
furnish a nation with funds to pay debts
it had contracted forty years ago.
Questions Hughes's veracity.
Mr.. Garner charged that Mr.. Wilson
had overstepped his authority in enter
ing into negotiations TO make the loan
and that officials of the Government
knew the money was not advanced for
that purpose. He said no record could
be found as TO who held the securities,
but said ]. p. Morgan & Co. Kuhn.
Loeb & Co.. the International Bank OF
New York and the First National Bank
OF New York made the refunding and
furnished money to Liberia in 1912 to
the extent OF S1.60O,000.
Representative Mills IN. Y.) chal-
lenged Mr.. Garner's statement and saio
Secretary Hughes when before the House
Committee on<Ways and Means stated
that the bankers did not hold the bonds
but that they had been sold In Europe
to private investors.
80 he did," responded Mr.. Garner.
"and so will tho gentleman from New
York tell you that there is only $4,000
lent in New York. Where in he'll did
he get his information?'
| Az this point Representative Herricl
| (Olxla). announcing his opposition to
| the bill. caused considerable applause on
the Republican side by stating: Wilson
| agreed 10 the Versailles Treaty at
Paris. What Republican wants to
recognize that moral obligation"'
\