Evening star., 1931-12-16
BEEDY DENOUNCES
M'FADDEN CHARGE
Pennsylvania Rebuffed by
Own Delegation for Accusa-
ton Against Hoover.
Continued From First Page J

Continued From First Page.)
the Democratic leader said he ex-
pected the House to finish with the
moratorium this week. He believed
the Ways and Means Committee would
complete it today.
The Senate Finance Committee
prefaced its moratorium hearing with
the announcement 1t would open its
inquiry next Friday into sales of
foreign securities in this country.
The date was set at the request of
Senator Johnson. Republican, Cali
fornia. sponsor of the investigation,
who is opposing ratification Of the
moratorium.
Treadway Asks Ban.
At the outset of the House Com
mittees session, Representative Tread
way of Massachusetts, urged that it re-
fuse to hear Representative McFadden.
Il protest this committee being made
the means whereby the gentleman from
Pennsylvania will continue this sort of
attack on the President of the United
States" Treadway said 1T carries
high condemnation"
The Massachusetts member almost
Immediately withdrew his motion, how
ever when Representative Crisp, Georgia
Democrat, said he thought it should be
rejected by the committee
I think this committee would make
grievous mistake if we refuse to permit
one OF our colleagues to appear before
us" Crisp said
Treadway, however. served notice
that II McFadden repeated the charges
before the committee he would ask that
they be stricken from the record.
Treadway quoted from the Congress
slonal Record, laying particular stress
on statement by McFadden that the
President had violated his oath OF Of
fee
Daring the interchange, secretary
Of McFadden was taking shorthand
notes Of the proceedings.
Stimson Gives Background.
The Pennsylvania and Representa-
tive Rankin. Mississippi, Democrat are
the only members who have asked to
be heard in opposition.
Mills told the Senate Committee IT,
day the original plan was for all pay
ments to be pushed forward one year,
but because of objections from France,
the arrangement was made for repay
ment over period Of 10 years.
Stimson told the House group every
source available to the Government
had been utilized to gain a clear pic
ture OF the situation abroad and that
before the President acted he sought
the advice of such experts as Owen D.
Young, author of the plan for repara-
tionS payments.
The Secretary submitted with his
formal statement copy OF the letter
written to President Hoover in June
by President Won Hindenburg of Ger
many. This was published exclusively
by the Associated Press last July 81.
1t detailed the plight Of Germany, say
ing the country was in urgent need OF
relief"
Payments Were in Danger.
Stimson said the purpose and re-
suit Of the moratorium were to persuade
those who had made loans that the
surest way to get the money back was /
not to withdraw.
If the conditions had been permit |
ted to go on, the chances of ever again !
getting payments was inflnitesimally !
small" he added.
When the committee began its cross |
examination Stimson suggested that
some questions could best be answered |
penlno CLOSED doors and rev minutes |
later 1t excluded spectators and re-
porters
Meantime Mills was telling the SEN |
ate Committee that on Saturday, June |
20, 1t was apparent that on Monday !
morning Germany would have to 60 off |
the gold exchange standard, with 'in-
calculable legal and social conse-
quences."
Stopped Run on Germany.
But, he added, the moratorium stop |
ped the run on Germany and the i'm
mediate gains were so marked that If |
they could have been held the loss of |
$3.50 100000 would have seemed I'm
He frequently raised his voice to
high pitch and apolosized at one point
for becoming "oratorical." !
Right or wrong" Mills said, "the
Presidents action was absolutely nee
essary to avert a major disaster"
Senator Watson, Republican leader, |
asked what would happen If Congress
failed to ratify the moratorium.
1T would do trretrievable damage to
the reputation Of our country" Mills