The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1900-01-30
There Was No Reply to Hepburn
Letters.
Emphatic in Denial Of
Collision,
Sole Purpose TO Protect Public
Moneys.

Washington, January go. The secretary
Of the treasury today sransm tilted to the
Senate his reply TO the resolution OF Jan
uary 20, calling for further information
% to his dealings with the officials of
the National City bank Of New York.
Secretary Gage takes up she resolution of
January 20 His rsply in brief is as
follows:
"One-That the secretary Of tho treas
ury be, and hereby Is dirsoted TO transmit
to this 6enats copies Of all letters and the
substance Of any conversation or agree
ment he may have written or had with
A. u. Hepburn Of the National City
bank Of New York, In reply 70 letter
from Mr.. Hepburn to him dated June 5.
1897.
"A careful search OF the department
flles doss not show any ans wsr to the
the letter Of A. b. Hepburn, written
~ him to me dated june 8. 1897, nor do
I believe that any answer ever was made
to said letter. Neither do recall any
conversation had with A. Ii. Hepburn In
reply to such letter. Nor was there at
that time or now any agreement made or
expectation Of an agreement to be- made
by the secretary Of the treasury or any Of
the officers OF the treasury dspar ,ment
with any person or persons with refereL ce
to the subject matter Of soid letter of A.
b. Hepburn.
1.-THE record transmitted with my COM
munication Of January 10, 1850. contains
all there Ia or ever was. 80 far as know,
concerning the said letter Of A. b. Hep
burn.
"Two--Aiso copies of any letters, COM
munioations, agreements, papers and doc
uments between the treasury dc irtment
and the National City bank of New
York within the period embraced between
June 8, 1897 and Ootobsr "a, 1897.
at does not appear from any record
of the TIE asury department, nor Is 1t with
In the Iesollection of the secretary of the
treasury that thu department or any OF
Its officers had any relations, either offic-
ial or private. with the National City
hank Of New York. within the period
embraced between juno 5. 1897, and o.
tober "a. 1897, so that there are no Let
tiers. Communications agreements. papers
and documents in the posses ,ion OF the
department. which passed between the
treasury department and the National
City bank within that period
The eesretary calls attention to the ne
cessity whi,h aross late In October, 1891.
OF disposing In some way Of the large
sum Of money (s55, AS, 22S), which wa 3
realized from the settlements OF the Pa
cifo railway debt, without drawing
money out Of active channels and nus
preolpitating q financial disturbance.
The secretary Is emphatic IN denial Of
all collision and says: at may add,
the soils purpose which has animated
the secretary In these connections was
go to use the banks as to secure, pre-
serve and keep the public moneys with
out risk or hazard Of loss, and In such torn
within the limitations and requirements
of law as would bsst conduos to the
preservation and protection Of the gen.
eral interests of the people,"
"Five-with especial regard to that
part OF the inquiry which raises the ques-
ton whether or net the Secretary of the
or sasury knew or had reason to believe
that the governments funds deposited In
the National City hank Of New York,
wers used with view Of causing a
liquidation of speculative stocks as mep-
toned in the letter Of James StillDan to
the hon. Lyman j, Gage. of April S.
1889, ETC.. 1 make answer as follows:
"fhe two Letters referred to In the
inquiry arc ssrIstsd by period of 10
months, but all the knowledge or belief
the secretary of the treasury has ss to
the use to which deposits In the National
City bank were to be pat at cit her
period or as any other period hatwsen
December 81, 1897 and April 8, 1890. was
obtained from these letters which have
always been submitted TO the Senats In
answer to the former irqniry.
"Hey ond the Information conveyed by
those two letters, the secretary has no
knowledge Whatever.
They were not supplemented by person.
al interviews or telephonic c1mmunica-