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Show BIG NEW VOI BANK ; ATTACKED BY OWEN i National City Institution Accused Ac-cused of Trying to Discredit Dis-credit Administration. STATEMENT IS ISSUED Chicago Man Advised That Circulars Sent Out Are False and Misleading. By International News Service. WASHINGTON, Sept. 1. In an official of-ficial statement issuod tonight, Senator Owen, chairman of the senate committee commit-tee on banking and currency, boldly charges that the National City Bank of New York is conducting a propaganda propa-ganda in an attempt to discredit tho administration nnd make it appear that in framing curreucy legislation the banking interests of the country have not been consulted, ttecitincr at length the information in tho hands of the committee of the two houses of congress con-gress and the numerous interviews and conferences that have been held with representative bankers, Senator Owen said the business men need have no fear that congress will act unadvisedly. unad-visedly. Senator Owen's statement is in the shape of a letter to James Simpson, vice president of Marshall Field & Co., Chicago. Mr. Simpson's telegram to the committee was based on a statement state-ment sent broadcast by a New York newspaper to bankers alleging that "co-operation between the f ranters of tho administration currency bill and the bankers of the country appears to be lacking." Claims of Senator. After showing that four days before this publication the press carried uo tices that representative bankors would be heard by tho senate currency committee, com-mittee, Seuator Owon relates at length tho remarkable amount of information before tho committee in the way of hearings by the committee of the two houses, the monetarv committee and the individual research of members of tho committee. Senator Owen brands as "utterly untrue" the suggestion that the fraui-ers fraui-ers of the bill "have denied a free exchange ex-change of opinion," and recites an abundance of facts lo substantiate his statements. In conclusion Senator Owen says: "Tho "propaganda now being carriod on, led by the National City Bank of New York, which has circularized the country against the bill, is obviouslj' intended to discredit the administration administra-tion and to mnke it. appear that the bankors have not been consulted, and that the committee is not well in-lormed. in-lormed. This misrepresentation has the effect of poisoning the public mind and misleading public opinion. Such misrepresentation is for tho purpose of promoting a private interest against the public interest. It is an open secret se-cret that these great concerns like Morgan Mor-gan & Co. have publicity agents to whom they pay very largo salaries and who are able to create fictitious and false public opinion unduly favorable to tho contentions of these great financial finan-cial companies. Says Suggestion Is False. "I deem it my duty to advise you that you are being misled by an artificial artifi-cial propaganda conducted in behalf of tho private interest which does not hesitate to make to tho country tho false suggestion that tho administration administra-tion is proceeding without adequato knowledge of or without giving a hearing hear-ing to the bankers of tho country. The rank and file of the bankors of the country constituto one of tho greatest, most important and most valuable parts of our national commercial machinery. ma-chinery. They have been of great value val-ue in promoting every kind of enterprise enter-prise and ono of the most useful features fea-tures of the proposed utilit.y banks will be to give poaco of mind and greater opportunity to the bankers of tho country coun-try to render patriotic service. "It is not surprising that a few men having an enormous control of credits of the country should oppose surron. I dcring- to tho United States in any degree de-gree tho vast power which they have heretofore exercised, enabling them to control credits to bull and bear the market, to enrich or impoverish other men. " |
