Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-11-01
HARRISON DEFENDS
RASKOB ON STOCKS
Mississippi Senator Replies
to Charges of Robinson
of Indiana.
BY the Associated Press.

BY the Associated Press.
Placing share of the blame for
Americas orgy Of stock speculation on
the public statements Of Chairman John
J. Rascob OF the Democratic national
committee, Senator Robinson, Repub-
lican, Indiana, no sooner concluded an
address than he was called to task In
the Senate today, Senator Harrison,
Democrat, Mississippi, accusing him oil
playing politics" with the Nations
delicate economic situation
Robinson spoke in reply to the pub
lie statement wednesday by Senator
Robinson of Arkansas, the Democratic
leader. The Arkansan had attributed
the stock market situation to the ''un-
duly and repeated" prosperity state
ments of President Hoover. Calvin Cool
idge and Secretary Mellon.
The Indiana Republican asserted the
President, former President and the Sec
rotary of the Treasury were no more
responsible" for the stock market con-
dition than the man in the MOON
He described Raskob as stock mar
ket "plunger" and quoted from printed
articles of the Democratic chairman
which he said encouraged Americans
everywhere" to buy stocks.
HarTisOn's RetOrt.-
What has Raskob to do with this
situa tion?" retorted Senator Harrison.
The Senator thinks he can get O
political advantage by accusing Raskob
Of being q great speculator. The whole
situation In America Is Of such delicate
tincture 1t seems to me We could en-
ploy our talents to better advantage at
this critical time than by criticis1ng this
or that individual"
Both Harrison and Robinson ex.
pressed confidence in the economic
soundness of the Nation and In thu
ability Of financial leaders to right the
present situation.
Harrison contended no one coulc
name the cause for the stock market
collapse and added: Il don't propose
to do anything by vote or expression
that will retard in the restoration Of
economic stability"
The Mississippian argued Raskob in
his published interviews had only en-
couraged the purchase of sound stocks
paying dividends" as investments and
not for speculation.
Asks About General Motors.
What about General Motors stock?''
interrupted the Indiana Senator. Ras-
kob Is an osYicer OF that corporation.
Il don't know anything about any OF
the stocks" replied Harrison. And
when say that l think / can add that
I probably know more about them than
the Senator from Indiana"
"Raskob, however" continued Har-
rison, lis not trying to play politics at
this critical time
He quoted from an interview last
week by Raskob saying he and others
felt grave concern for the stock mar
ket" because of It's inflated" condition
in recent years. He asked If President
Hoover or Mr. Mellon had ever given
out such q statement.
Occasion for Statement.
Although he said he was not criticiZ-
ing the Chief Executive. Senator Bark
lev, Democrat. Kentucky, asserted It
would be idle" to contend that the
Presidents statement last week assuring
the country that business was sound
was not precipitated by the crash In
the stock market"
otherwise" he said, there was no
occasion to issue it,
He added that after the "So.called
Coolidge bull market" began, there was
scarcely q day. q week, or a month"
that Secretary Mellon did not issue q
statement asserting there was no reason
for q decline.