The labor world., 1922-08-12
RE READ 1HlS AND WEEP
By senator Thomas J. Hefflin.

BY senator Thomas j. Hefflin.
The other Senator from New Mex
leo made the statement that he did
not belong in. that class and, had not
made anything out Of wool in about
18 years, or words to that effect.
Now I should like to hear the real
wool kings here testify who are vot-
ing money into their own pockets
when they place high tariff tax on
WOOL
! Mf. President. L desire to speak
for little while about another mat
ing document about the governor of
the Federal Reserve board, about a
newspaper, man being on tho Fed
eral reserve payroll, naming one and
asking about others. have been sug-
gesting for some time to the senate
that I would read this statement.
t. have letter here from a prom
inent banker which says that on page
3O49 of Who's Who in America, edi-
ton Of 1920-21, there is biograph-
ical sketch Of H.. Parker Willis,
economist, born at Weymouth, Mass,
Aug. II, 1874, from which the fol-
lowing is quoted:
Associate editor New York Jour-
nal of Commerce, 1912-1914. and
editor same 1919.
That means that he was, an asso-
ciate editor of the Journal Of Com
merce from 1912 to 1914, when he
ceased the duties as associate editor,
and after an interval of five years
he went back to- the newspaper as
editor and was still editor when the
1920-21 edition of Who's Who was
printed. The same sketch then rro-
ceeds: !
Secretary Federal Reserve. board,
Washington, 1914-191S, and director
Of research same 1918.
That means, the letter continues,
that Doctor Willis was secretary Of
the Federal Reserve board from 1914
to 1918, and that when he ceased to
be secretary he took the job Of direc-
tor Of research in 1913 and was still!
holding the job when the 1920-1921
edition of Who's Who was printed.
On page 257 of the annual report
of the Federal Reserve board for
the year 1920 we find the name Of
H. Parker Willis listed as director
Of analysis and research and drawing
a salary of $4,000 a year. Is he draw.
ing that salary now? Has it been
increased or reduced? If he is the
editor of the Journal Of Commerce
as is asserted in his biographical
sketch in Who's Who, and is also
on the pay roll of the Federal re.
serve system at salary Of $4,000 q
year, as the Reserve board said that
he was in 1920, we can very well
understand why the editorial columns
of the Journal of Commerce are sc
earnest in their defense of the Fed
eral Reserve board.
Mr.. President, had passed through
| this body resolution calling upor
the Federal Reserve board to state
whether they had a publicity fund
The governor of that board came
back and positively stated that hi
had no such fund. I said there was
some way by which they were get.
ting publicity, there was some way
by which they were getting into the
newspaper columns, and said thai
It must be that they are putting mer
on the pay roll to do little research
work Of this kind and that in order
to cover up what they are really
paying them for. Are, they paying
certain newspaper men to get pub.
1icity for their views and for refus.
ing to give publicity to those who
| criticize their official conduct?
Certain banking and speculative
interests are making hard fight
just now to have Governor Harding
reappointed. All news detrimental to
their scheme must be kept in the
background. It must not get in the
papers: Look at the press gallery
now, if you please. Watch those who
represent. some Of the great dailies
Of the country. Whenever a sena-
tor criticizes the deflation and the
Federal Reserve board on this floor
now. they leave the gallery instanter.
They fly away out of sight and hear
ing like a covey of .rds flushed
upon the field. Why is it that these
grave matters touching the public
interest are ignored or suppressed ?
Who is that does hot want them to
reach the people of the country? !
am making a charge here today that
there is an editor of a great daily
paper on the pay roll of the Fedora
reserve system enthusiastically de-
Tending the Federal reserve board and
denying publicity to those who at
tack 1t. Look in certain big dailies
tomorrow and see If you find an ac-
curate. report regarding this matter.
Congressional Record, July 20,
1922.