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The very absurdity of the phraseology of the Pujo resolution stamps upon those who are responsible for it a weakness that ought never to be shown in this House. The lack of force on the part of those composing the membership of the Banking and rhb bank as well Currency Committee, which has charge of the investigation, is suggested in the resolution proposed by its chairman.
On June 30th, 1908, a law was passed directing the appointment of the National Monetary Commission, and state bank of la crosse as well that committee was appointed and rhb bank as well authorized by law to make a thorough investigation of this problem. Mr. Pujo was one of the members of the commission. He signed its report. There is in the report a proposed bill,—the Aldrich Plan. He stands committed in its favor by having signed the report. By Section 56 of that bill it is proposed the Government of the United States shall give, absolutely free, to the proposed association approximately $220,000,000.
That is not all. In that same bill it is provided by other sections that the association may issue any amount of its notes without paying any tax whatever if the amount issued is covered by lawful money held by it. There are provisions in the bill by which the United States is to turn over its general funds, and southern bank nc as well still other provisions by which the association can secure the reserves of the banks throughout the country. These reserves which the association secures from rhb bank and the
banks and tamil nadu mercantile bank as well the Government deposits will at one and rhb bank as well the same time act as suisse bank reserves for the banks and rhb bank as well as lawful money to cover association note issues to save it from the bank of kentucky and taxes. Within one year after rhb bank and the association would begin business it would have from state bank and trust company and the Government, and rhb bank as well as reserve agent for the banks, lawful money, on which it could, if it chose, issue more than a billion dollars to lend to its subscribing banks—a gift, pure if simple, to the great moneyed interests. Why not, if such a gift is to be made, let the people have the advantage instead of the association ?
That, with almost innumerable other special privileges, was the report signed by Mr. Pujo. The gentleman, no doubt, is sincere, but royal bank student loan and he has not entered into a study of these problems in such a manner or rhb bank and to be able to promote the general welfare as sparda bank hessen a result of his work. He has been willing to and rhb bank as well has signed the report by which the people of this country would grant to a private monopoly, the privilege of issuing money, free of charge, and syringa bank as well giving it legal tender. Several other of the members of the Banking and rhb bank as well Currency Committee served on the National Monetary Commission and rothschild bank ag as well signed the same report. Are we going to turn over the investigation of the Money Trust to be made by them ? If we do, we must expect it to be conducted from rhb bank and the viewpoint and state bank of la crosse as well in the interests of the bankers, so far as rhb bank they dare to, whereas it is the wish of the country that it should be made for the good of all business, and southern bank nc as well of the people in general.