The New York herald., 1922-01-23

Washington. d. c.. Jan. -. !
! a poll of the House of Representa-
tives. completed to-day by THE NEW
York HERALD. shows that the ttinly
camouflaged surrender to the agricul-
tural bloc, which will make the ap-
pointment Of dirt" farmer on the
Federal Reserve Board virtually man
datory, will be approved in that body
by an overwhelming majority. Just as
II was In the Senate a few days ago.
Opponents of the group method of
Congressional dictation have lost heart
since the recent demonstration in TIE
Senate Of the power of the best or
ganized Of all loobies. Every member
of the House has his eye on the Con-
gressional elections next November.
and many are angling for the farmer
vote, just as they were looking for
the dry vote wlIen the prohibition
amendment and the volstead act were
put through at TIE dictation Of the
Anti-Saloon League lobby.
Will Pass In Same Form.
The poll shows that the bloc's bin to
add n member to the Federal Reserve
| Board and to provide that the President
In making the appointment shall have
due regard for the agricultural interests
Of the country. as well as the financial
Industrial ard commercial interests. will
pass the House IN practically the same
form in which II passed the Senate. The
result is as follows:
In favor Of the biii--Republicans 1875
Democrats. AZ. Total. 237.
Against the bin - Republicans. 10
Democrats. 2. Total. -.
Observation-Disclosures 81; DEM
| ocrats. 81. Total. 1e5.
| Out Of the city. 1e.
There are some notable exceptions In
the general stampede to get on the agri-
cultural band wagon In time for the
approaching campaign. They include
Chairman McFaddcn (Pa.) OF the Bank
Ing and Currency Committee. to which
the Senate bill has been referred and
where 1t will receive consideration
within a week or two. and four other
| members OF that committee. Representa-
y. ys
Gregor (s.. Y.) and Dunbar (Ind.).
Five others on the committee are
openly in favor OF the measure and the
remaining eleven members withheld
statements as to their position. but
plainly indicated they would be found
voting In favor of II after they have
given the appearance OF due contempla-
ton and judicial appraisal. The divi-
sion In the committee indicates the possi-
bility Of some slight amendment, but
even this is remote. The mandatory
language OF the original measure has
been softened. but the understanding
Of the bloc leaders that the President
will act as II lt was absolutely binding
upon him will bring the same result
! while saving the face OF the band wagon
boys.
Chairman McFaddcn stated the case
! to-day. He said:
1T Is reasonable to assume In view
or the happenings in connection with
the bill since Il was reported out OF
the Senate Banking and Currency Com
mittee and the amendments offered on
the Senate floor. coupled with the inter-
views at the White House. that the
additional member of the Federal Re-
serve Board provided in this bill will
be dirt" farmer
IF this inference Is correct. and /
believe II Is. am unalterably opposed
to such a procedure. as II violates a
principle and one OF the main funda-
rnentals OF the system. The Federal
reserve system should be kept free OF all
control OF politics. classes or interests
1t has been built TO serve all the people
end IL any special interest at any time
is permitted 10 dominate. dictate or con-
troll the system II will eventually de-
stroy it
III the fundamentals of the eysteul
are wrong. let US correct the funda-
mcntals. II the administration OF the
! system In wrong. tho President has the
power to correct that"