The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-01-21
SUB TREASURY FOR SAVANNAH.
THE CTTYrs DELEGATION BEFORE
THE COMMITTEE.


Followed by MIR. Burdeu.
Washington. Jan. @.-savannah's busi-
ness interests were ably represented to-
day before the committee on ways and
means in connection with the PROPOSE
tion to establish a United States sub
treasury at Savannah. The delegation
was composed OF Mayor Myers. Capt. w.
w. Williamson, president OF the cotton
exchange; Capt ID. G. Purse, president
OF the board OF trade; r. +. Burdell,
cashier of the Chatham Bank: c. Gunby
Jordan, president Of the Third National
Bank of Columbus; Mr.. Hayne, president
of the National Bank at Augusta, and
:. G. Nelson Of New York. who has
large business acquaintance with the
bankers and merchants of Savannah.
Representative Lester met the visitors
upon their arrival in Washington and
escorted them to the capitol and intro
duced them individually to the members
of the ways ana means committee, and
the other Georgia congressman who were
present during the hearing. There was
a large attendance OF the committee
men. including Chairman Dingley
Mnessrs' Dalzell' Payne. Crisp
TSlner IeT Mel EypRs oSa GrosyTnST po5i 1d
y"
they evinced deep interest
in the convincing manner in which the
Savannah delegation presented their case.
There was no attempt at oratory, but
there was a straightforward, business
like spirit exhibited I'm all the speeches
that impressed the members OF the COM
mittee with the necessity of a sub-treas-
ury at Savannah. and also with the pro-
| gressiVeness of her citizens
In presenting Mayor Myers to the COM
mittee, Col. Lester made brief state
mquf of the object Of fhair visit and then
gave way to Mayor Myers. The mayor
Said the delegation came to Washington
TO try and convince the committee or the
necessity for the establishment OF "a sub
treasury at Savannah. He stated that Sa-
vannah is furnishing a large amour OF
the actual capital used in manufacturing
and other large business enterprises In the
southern and western cities contagious
| to Georgia. in addition to supplyinb the
| money TO remove the bulk of the cotton
! In the south. lie claimed that Savannah
| should have the same facilities for
| the transaction of her financial
| business as New Orleans in the SOUTH or
attention 20 the fact that there is no
sub-treasury south Of Baltimore with the
| exception OF that at New Orleans, leav-
/ ing the whole Immediate territory inter-
/ Vening unprovlded. He produced a map
| to show that Savannah Is the most con
| Veniently located city between the two
/ points naled for the establishment of a
| sub-treasury In order to afford the facil-
| tiles to the southwest which Is afforded
| other sections Of the country. In addi-
| tion to the remarkable growth of the COM
| mercial business al Savannah during The
| past five years, the mayor called attention
to the steady flow of immigration into
| Georgia, not only from abroad, but from
| many of the western states.
| Mr.. Burdel was next introduced and
he stated that 1t was a purely economic
| principle under consideration, and he
| proceeded to make a thoroughly busi-
| ness statement OF the situation. He ex-
| planned lucidly the question of exchange,
loss to the producer of cotton in that
! entire section of country He explained
| the cost of shipping money back and
/ forth from Washington and the necessity
| for small money and notes in moving the
/ crop. Judge Turner asked several point
| ed questions to show 1.-THE injustice done
to the producers by reason of the heavy
costs of exchange, and Mr.. Burdell was
ready with clear cut replies in every in
stance. He produced a table of figures
| prepared by the treasury department al
the instance of Col. Lester to show the
annual government expenditures in the
states of Georgia, North Carolina, Soutf
Carolina, Florida. Alabama and Tennes
| see. The total was S6O0O00, but owing
to the palpabe omissions, Mr.. Burdell in
sisted that the amount is nearly $4,000 900
| Representative Towney asked If the es
| tablishment of a sub-treasury would re
leye the people of this cost of exchange
| Mr.. Burdell replied thot 1t would greatly
melorate the condition.
wei have" he said, mo demand fol
| mands-greenbacks, coins. notes, silver
etc, pass freely. The gold would flow
into the treasury and be net gain tC
Judge Turner asked "Why is the gold
held there, through fear or through
| boarding"
Mr.. Burdell-Principally owing to tn,
cost of exchange. 1t is daily in circula
| tion among our banks.
| Representative Payne asked why tht
| sub-treasury at Charleston was abolished
I InrfAa1l-.Tl in 1880 the bI al
ness had fallen off and there was a gen
eral depression in business throughout
| the south.
"Witbin the past five or six years." hi
| added, there has been an increase in bus
mess and Savannah has gone ahead Of
| Charleston and is now doing the cottor
| and lumber business of Florida, and Ten
nessee and Alabama"
Mr.. Hayne of Augusta explained the
| reasons for the establishment of sub
| treasury at Savannah. He said cotton
| was originally the product now naval
| stores and other commodities enter into
the trade of that city. He gave an Illus
| tration of the loss by exchange, which he
| claimed was practically a tax on the peo-
| pie in those states who have to do busi-
! ness with the sub-treasury at New York.
| 1--WE depend" he said, largely upon
! New York for sS5 100000 to move the cot
! ton crop of the south" Savannah, he
said, is the largest financial center with
| i'm radius of 800 miles. He explained
| the manner of converting government
| checks into money in the south, showing
| that those banks designated as govern
| ment repositories, serve no practical pur-
| nose save for the clearing of its busi-
| ness and those banks charge as much
| to discount a government check as they
| do for that of a private individual-and
will not cash a check on New York or
/ elsewhere at par.
| This; statement caused much surprise
| from the members of the committee, and
| Messrs. Dingley and Grosvenor asked nu-
| merous questions on the subject.
| 1t was brought out that checks are not
| made payable at Savannah or on New
| York or some other city where there is
! a sub-treasury.
| q Gunby Jordan of the National Bank
! of Columbus, president Of the Georgia
| Bankers Association, was next presented.
| He stated that the association passed a
| resolution unanimously endorsing the es-
| tablishment of a sub-treasury at Savan-
| nah. 1t did not take the committee long to
| recognize the fact that Mr.. Jordan was
| master of this subject and he, like those
! who preceded him, received close atten-
| tion from all present. He alluded to the
| phenomenal improvements in business all
| through the southern states during the
| past five years and he pointed out the
! great Improvement and advancement in
! the manufacturing business in Georgia,
! particularly, where, he said, 100000 spin
dies are now moving. Representative
| Grosvenor inquired If this increase was
| confined to Georgia.
l Mr.. Jordan read figures to show that
"a.