Rensselaer Semi-Weekly Republican, Volume 40, Number 57, Rensselaer, Jasper County, 20 March 1908 — SENATOR SCORES BIG MEN [ARTICLE+ILLUSTRATION]

SENATOR SCORES BIG MEN

LA FOLLETTE BLAMES MORGAN AND OIL PEOPLE FOR PANIC. M No Commercial Reason*,” Bays Wisconsin Man—No Message, De- '• dares Roosevelt. Washington, Mar. 18. Declaring that the recent financial stringency in the country was brought about by the Influence of “Standard Oil” and J. Pierpont Morgan, Senator La Follette of Wisconsin Tuesday in & speech practically closing the debate on the Aldrich currency bill, entered upon a denunciation of men high in the financial world. "There were no commercial reasons for a panic,” said Mr. La Follette. “There were speculative, legislative and political reasons why a panic might serve special Interests. There weri business scores to settle. There was legislation to be blocked and a currency measure suited to the system

to be secured. There was a third term to be disposed of, and policies to be discredited. “A panic came. I believe that it needs only to be followed step by step to show that it was planned and «*■ ecuted, in so far as such a proceeding is subject to control, after once in motion. Such a statement, without support in facts warranting it, would deserve condemnation. To withhold such a statement, to shrink from plain speech setting forth the facts in so far as they can be uncovered, Is, in the discussion of this legislation, a plain public duty.” The report that the president is about to send a special message to congress urging upon its attention certain matters of necessary legislation recommended by the civic federation meets with a positive denial at the White House. The senate committee on finance Tuesday voted unanimously to amend the Aldrich financial bill by eliminating railroad bonds as security for national bank note circulation. It also was decided to amend the bill so as to retain the provision of the present law prohibiting the retirement by national banks of more than $9,000,000 of circulation in any one month.

R. M. La Follette.