Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-01-17
HELM ATTACKS
FEDERAL RESERVE
Charges Of Graft in Construc-
ton Of New York Bank
Building Made
GLASS DEFENDS SYSTEM
Ry the Associated Press

By Inc ASSOC1atest freSS
Washington. Jan. 17.--Chargcs that
there was graft in connection with the
ordering of the construction OF the new
District Federal Reserve Bank Build.
ing in New York were made today in
the Senate by Senator Heflin, of Ala.
bHma, in the course Of an attack or
| Governor Harding and other member:
Of the Federal Reserve Board,
Prior to Senator Helms charge:
Senator Glass, Of Virginia. in an ex-
tended speech, vigorously defended the
Federal Reserve System. The Senator
crossed swords with Senator's Harris
of Georgia. and TIcfiin. of Alabama. on
his own side of the chamber. and cited
Icccnt public utterances Of these mem
bcrs as instances of what he said were
unfair attacks on members OF the board
Senator Glass declared "sone Scna
tors and others" would accomplish more
good II they would talk sense 10 the
bankers, instead Of nonsense to th'
farmers
President Ready TO Act
President Harding stands ready, II
was said today at the White House, C
appoint representative Of agricultural
interests on the Federal Reserve Boart
in event of enactment of the pending
LEGISLATION. Il was said authOritativcly
that the Administration policy Is tc
bring agriculture into the boards per-
sonnel and that the President woulC
have no hesitancy in acting under th'
new bill.
The urnoiuous consent agreement
under which the measure was considered
was amended TO extend the time for de-
bate two hours.
Submission Of the proposed chang
brought a tilt between Senators Sm00t
Of Utah. and IIcfln. Of Alabama. Mr.
lICtlin had been attacked strongly by
Senator Glass earlicr IN the day, ant
be desired time 70 answer the speech
OBJECTION 10 the chang" was threatened
BY Mr.. Smoot and Alr. Hehin inter
rupted:
''If Senator's thint they can keep nj
from speaking by objecting t. th'
change, then want to say thcrSll moi
be any moro unanimous consent agree
mcnts in tho Senate soon. I'll scrv'
notice also that therc'il have 70 be I
quorum present here AZ all times, ever
! in executive session"
Under the new agreement. tho five
minute speeches would begin a.
o'clock and continue for one hour. TIL
agreement specified that voting shOuI,
then begin and continue until al
amendments and the main prOpos!tio
we're disposed Of.
Glass Discusses Heflin's Speech
Mr.. Glass referred to a speech b
N.r. Hehin in which he quoted til
latter as having said he was not ad
ylSed as TO whether friends OF mem
Lcrs of the Reserve Board were spccn
lnting in cotton while the boards dc
tINtion policy was operating. \ speec
by Senator Watson, of Georgia, con
tanned reference TO the Reserve Roar
which Mr.. Glass said he regarded 1
an implication Of crime ard added:
Has this body become q place whcl
malicious charges can be hurled whcthC
there Is foundation for them or nGr
II II is. then The Senate should con
template the effect Of such accusation
on its reputation"
why these atacha are so urfOundr
as 70 be comic If net vicious" |
added. Some senators seem 20 thin
that the cost of a bank building
New York controls agricultural credi
in Alabama.
Mr.. Hctiin, answering Mr.. Clas
denied that he had ever attacked Il
reserve system. Ilc had contrndcd.
said, only that the system had bN,
Ma!adm!nistercd since 1920 and ad,i
that he expected to continue 10 ma
those charges.
Il said. and I say again" said N
Hchin, that the boards dcfatic
policy was murderOus." Mr.. Urfl
said thar Mr.. Glass vas tho only So,
Htor from the South or Wcst who h:
defended the board. adding that there
been no real friend OF the farm i
lending the board"
Boards Defenders ExCoriated
Senators who have defcndcG Z
board and the system were cxcor.at
by the Alabama Senator, who said IN
during the speech Of the Senator f.,
N!rginin, the governor Of the Rc.c-
board sst in the gallery and smiled !
approval" D."
How can i be done" 0Ir. Hcn
1ueried. 'IIOw can the boards MN
dcroCS Doi!cy be defended:
The Virginia Senator told n piti,
tale" Mr.. Hcfin continued, of l.,
he used 70 take the governor OF :
board away from his deSl. AZ night
ride to stnve off exhaustion aud ~
= him from collapse. sometimes thi
II might have been better 70 have
him rkerp W. lo-. hot Ir v