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The Commoner.
IRUARY 23, 1913
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Lenry of Texas Making Gallant Fight
Following is an Associated Press dispatch:
IftShintrton. Feb. 17. RnnreaontnlHvA Knn.rv
Texas, chairman of the house rules com-
ttee, made a sensational sneech in the house
day, in which he attacked the money power
wall street and demanded an innuirv into
$the black hand methods of the financial mafia
in this country." Ho counselled a thorough
going investigation before concress accented the
'Aldrich plan of currency reform. Chairman
ktienry was tne author of a money trust investi
gation resolution, which was beaten in caucus
hy Democratic Leader Underwood and Speaker
Ularic. A substitute by Chairman Puin. of tho
house banking and currency" committee, which
Mas opposed by the Bryan democrats, Chalr
gtiin Henry and William J. Bryan himself, was
greeu upon.
ijSome portions of Mr. Henry's sneech were
try spirited, almost bitter.
fc Is it not time." asked Mr. Henry, "to inriulre
into those black hand methods of the financial
mafia which exist in this country?"
He attacked the alleged monev monnnolv in
tWall street and assumed that no effective in
vestigation can be made into the ramifications
'of- either currenr.v IncrtalnHnn. tho frnufa nnri
Interstate commerce corporations until congress
understands the methods of the insidious and
almost supreme money power.
Kv. ''HllrtlllrlTi 'f1 Tim Irnnitf nnmnl'li tn r .t i-V. ilntk
&iop , villiany to which this financial mafia
&Scends?" Mr. Henry continued, 'before we re-
w;&glte our currency laws. Wouldn't it be better
ojprobe deeply into that hidden and mysterl-
Vijbtii, side before we swallow the Aldrich plan?
H "Let me warn "the American people that we
wiUibe groping in the dark and will go down
' taJK161, Pitfalls, unless we have a thorough
congressional investigation and unearth their
Wlfem, and the villiany and the secret methods
oMthelr combined moneyed monnnnlv. While
are grappling with this momentous problem,
tfraoney power is moyincr heaven and earth
Circumvent us.
More than 75 per cent of our financial re-
rces. Industrial and railroad cornnratlnnH la
!w combined and controlled bv not more than
.$four small groups of financiers This financial
l,.V, oligarchy has now within its grasp resources,
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competition and destroy competitors. They now
Ihave at their feet in merciless subjection more
jthan 7 per cent of the vast army of banks and
ipanicers throughout the country. They are com-
Iblned and acting in strict accord with the rail
Froads and industrial trusts by throwing their
protecting arms around them, with the avowed
i-purpose or assassinating in Dusiness all competitors,
It is certain that these same financial in
terests of New York have a close community
of -interest with the bankers of the money
centers of Europe and act together in protect
ing one another and destroying competition."
THE PEOPLE UNDERSTAND
Editorial in Johnstown (Pa.) Democrat: It
has not taken Mr. Pujo of Louisiana long to
show the cloven hoof. Hardly had big business
won out in the democratic caucus by the defeat
of the Henry resolution calling for a special
committee to probe the Money trust than the
head of the banking and currency committee
came to the front with a resolution eliminating
all specific reference to that most dangerous of
all the dangerous combinations. And in taking
this action the Louisiana man gave it out that
Mr. Bryan1 was to be the first witness summoned
to "explain to us exactly what he meant" when
he said that the Money trust thought it could
control the committee on banking and currency.
That Mr, Bryan will welcome the opportunity
to appear before the Pujo inquisition is not to.
be doubted. That he will have no difficulty in
explaining to the Pujoans just what he meant
in his warning to democrats should be apparent.
For why did' Wall- street want the inquiry made
by the committee on banking and currency
rather than by a special committee if Wall street
did not believe it could control the Pujo com
mittee? "Democrats, beware!" cried Mr. Bryan. "The
Money trust having failed in Its effort to pre
vent an investigation, is now trying to force
an investigation bythe banking committee. The
fact that the Motley trust wants that committee
entrusted with the investigation is proof positive
that it thinks it can control that committee."
Wasn't tho inference fair and even unavoid
able? What other possible conclusion was thoro
to draw from tho attitude of Wall streot? It
has done all it could to prevent any investiga
tion and when it found that tho probe could not
be avoided, it turned its attention to getting
the business committed to what it must have
regarded as friendly hands. And that it made
no mistake in this is shown by tho promptness
of Mr. Pujo in limiting tho proposed inquiry to
entirely innocuous matters. "Tho committee
is desirous of securing full and complete infor
mation regarding the banking and currency
conditions of the country," declares the Pujo
resolution, "for tho purpose of determining
what legislation is needed," but it should be
observed that the banking and curroncy com
mittee was charged with this duty by .the fact
of its creation. If it were not constituted for
this purpose, what excuse had it for existence at
all? But the probe of the Money trust sought
by Chairman Henry and urged by Mr. Bryan
was a very different proposition. It was aimed
at the development of relations in the financial
world which have little if anything to do with
the currency or with legitimate banking or with
the sort of legislation the banking and currency
committee would have occasion or opportunity
to recommend. And evidently it was with a
distinct understanding of the attitude the bank
ing and currency committee would take in the
matter that impelled Wall street to exert all
its powerful influences in having the "investiga
tion" committed to such friendly hands as those
fittingly represented by the Louisiana democrat
who has most frequently distinguished himself
in the houBe by voting on important questions
with the standpat republicans.
That the reactionaries are pretty firmly in tho
saddle in the house grows more and more evi
dent. The southern democrats completely domi
nate the majority through the control of all the
more important committees. And with com
paratively rare exceptions tho southern demo
crats are violently reactionary. They have no
sympathy with the progressive movement. Many
of them are allied directly or indirectly with
big business. They are the attorneys for rail
roads, banking interests, sugar, lumber, iron,
coal, citrus fruits and other beneficiaries of
privilege; and their actual affiliations are with
Wall street rather than with the great plain
people. Mr, Bryan knows this and that he will
know how to bring the facts into the open lot no
one doubt. The reactionaries have laid down
the gage of battle and he is not the man to
let it lie untouched. Big business has dared him
to the combat. Its emissaries are crouching be
hind official breastworks to stab him to the heart
with their poisoned weapons if they can seize
him at a disadvantage. And the standpat press
of whatever profession is gloating over the
prospect of his utter discomfiture. But the plain
people who hold no brief for big business and
who have no retainers in their pockets from tho
allies and dependents of the Money trust are
watching the situation with some understanding
of what it means. They have begun to under
stand the Pujos and the Underwoods and the
Fitzgeralds. They no longer marvel at the
"harmony" whiclpi has been purchased at so
frightful a cost by the surrender of the demo
cratic majority to Wall street. And let Mr.
Bryan not doubt that in the conflict to which
he has been summoned he will have behind
him the support and- the confidence and the
affectionate interest of the democratic aad pro
gressive masses.
AS DEMOCRATS SEE IT
The Dubuque (Iowa) Telegraph-Herald
describes the money trust as democrats of the
rank and file see It in this way: Representa
tive Henry of Texas lost a skirmish but won a
battle. He failed to secure appointment of a
special committee to investigate the money
trust but he did win his fight for an investiga
tion. House democrats in caucus upheld Leader
Underwood's contention that the investigation
should bo conducted by a standing committee
the committee on banking and currency. The
personnel of this committee is not in all respects
acceptable but it is nevertheless such as to
assure that there will be no covering up,
Representative Henry made a valiant fight
and in the hour of his victory ho deserves the
thanks and merits tho congratulations of all
progressive democrats. In lesser degree it is
true of the other democrats in the house, with
a few exceptions, who had the patriotism and
tho wisdom to carry the war against privilege
into tho very camp of Morgan and Rockefcllor.
That two financial groups dominated respec
tively by theso men control tho finances of tho
country, virtually monopolizing underwriting
and holding power of llfo and death ovor busi
ness, is a charge mado ropoatcdly. It Is timo
that the truth of the charge was proven and
tho secret operations of these groups exposed
to tho light.
The money trust towers hend and shoulders
over all other trusts. To investigate them and
leavo the parent trust unprobed, wore as foolish
as to treat a soro and do nothing to purify tho
blood.
UNDERWOOD PLAN OF "INVESTIGATING"
MONEY TRUST
Editorial in Galveston Daily News: Tho
Underwood plan for investigating tho "money
trust" is one which scorns to have been devised
more or less ingeniously for the purpose of
enabling the majority of the house to regulnto
the light which it may be thought expedient to
shed on that subject. Tho vote by which this
plan was adopted in tho caucus, added to tho
known preponderance of reactionaries among
the republicans of the house, assures a "safe
and sane" majority, which in determining and
allotting the power that is promised to tho four
committees, may bo depended on to restrain any
too inquisitive impulse which perchance one of
these committees may betray.
The personnel of these committees certainly
that of one of them Is a pretty good assurance
that they will not be too obtrusive in Booking
Information; but Mr. Underwood seems to have
felt that In a matter of this delicacy, double and
oven treble assurance was not too much, and to
have provided, accordingly,- that such power as
may be given to them shall be doled out in in
stallments from time to time. But even without
this provision for retaining a power of restraint
over the bodies which are to make tho inquiry,
the plan would still be subject to tho objection
that four committees, having altogether nearly
a hundred men, can not efficiently prosecute such
an investigation as this. As well set fifty men
at the task of untangling a skein of silk as to
apportion the task of unearthing and unraveling
the salient and ramifying facts with respect to
tho concentration of financial power In New
York. Tho more llkoly result Is worse to tangle
what It is sought to untangle, to obscure what
it is sought to illumine.
And this is evidently what Mr. Underwood
and many of those who followed him set out
to accomplish. In the beginning of the- matter
Mr. Underwood was opposed outright to tho
proposal, and when he perceived that ho could
not defeat it he directed his energies in an effort
to render the investigation innocuous. He has
succeeded satisfied men who were doubtless
craving some pretext with the plea that to in
trust this investigation to a special committee
would bo in derogation of the dignity of four
standing committees of the house. What is more
important the conservation of tho dignity of
committees, or the public welfare which Is con
cerned in getting all the pertinent truth of this
matter? Mr. Underwood, evidently, and thoso
who followed him, feel that, no matter what
the other consequences may be, tho dignity of
tho committees must be conserved. However
potent the pleading of that pretext may be with
members of congress, it will not be persuasive
with the people of the country. They will see,
and we think with abundant reason, In the suc
cess of this scheme a desire to make merely a
superficial investigation, an Investigation which
will disclose" precious little that is not already
known, in the hope that popular suspicion will
bo allayed.
They may succeed in making the investigation
superficial; indeed, wo think there can bo no
doubt that they will. But they will not suc
ceed, by means of that hackneyed trick, in
allaying the suspicions and discontents which
inspired the demand for a real investigation.
If anything, they will only confirm and enlargo
the suspicions and discontents which now exist
The democrats of tho house have followed un
wise leadership into tho bogs of a blunder.
now DH YOUR MEMBER vote?
The following members voted in favor of tho
Underwood substitute for tho Henry resolu
tion to investigate the Money trust:
Adamson, Ansberry, Ash brook, Ay res, Barn
hart, Barlett, Beall, Bell, Blackmon, Borland,
Brantley, Broussard, Brown, Bulkloy, Burgess,
Burnett, Byrnes (S. C), Byrnes (Tenn.), Calla
way, Candler, Clark (Fla.), Clark (Mo.), Clay
ton, Cline, Collier, Conry, Covington, Curley,
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