The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1900-01-30

bank Of New York. Of Dec. q, 1891, in
which the secretary wrote;
"I have yours OF the 10th inst and
note your suggestions as 10 a confer
enee with Mr.. Morgan in relation to the
+ treasury deposits in the National City
bank repositories Of New York. other
than were transmitted with my COM
munication 10 the president pro tenn
pore OF the senate under date Of Jan.
10. 1900 Nor can it be recalled that
there was ever any conversation had
between the secretary Of the treasury
and Mr.. Stillman. or between the sec
rotary Of the treasury and any other
man concerning the said letter
Depositing Of Moneys.
The fourth section Of the senate in
quiry is quoted as follows: And the
secretary Of the treasury is further IL
rected TO transmit TO the senate copies
Of any letters, agreements. commune
I cations, papers, documents or other
information in his possession or in the
possession Of the treasury department
respecting the conference between the
secretary Of the treasury and James
Stillman, president Of the National
City bank; j. PierpOnt Morgan Of New
York and any other person or persons
with whom he conferred in Philadel-
phia, as mentioned in his letter 10
James Stillman, president of the Ma
tiOnal City bank Of New York City, of
Dec. y, 1897 and also whether or not
the conference resulted in any agree
ment or understanding in regard to de-
posting government moneys in the ma
tional bank repositories in New York;
whether or not any record was kept in
the treasury department Of telephone
or Geographic communications between
the secretary Of the treasury or mis- sub
ordinate officers and the officials Of the
National City bank Of New York City,
and If so, what agreement md under
standing was arrived at by means Of
these telephone or other cOmmunica-
tons.
Conference Never Took Place.
To this the secretary replied: sit
should be a sufficient answer to all
that is requested on the subject of this
conference between Mr.. Stillman, Mr..
Morgan and myself at Philadelphia. to
say that such a conference never took
place. Mr. Stillman and Mr.. Morgan,
for what reason / know not, did not
come to Philadelphia to see me, but on
Dec. %, 1897, Mr.. Suliman placed the
matter about which he and Mr.. Nor
gan wished to talk with me before me
in a letter which appears on page II of
the document. wherein is commune
Gated my reply to the president pro
tempOre of the senate Of Jan 10, 1900.
Mr.. Stillman'S letter is a request to
allow as much as possible Of the Pa
cific debt money to remain idle in the
New York banks, 50 as to secure "an
easy money market with a uniform rate
Of interest" which Mr.. Stillman says
will avoid a panic and aid in the reor-
ganization plans of various railroad
companies then in progress.
'F'ive-With especial regard to that
part Of the inquiry which raises the
question whether or not the secretary
Of the treasury knew or had reason to
believe that the government funds de-
posted in the National City bank of
New York were used with a view of
causing a liquidation of speculative
stocks, as mentioned in the letter of
James Stillman to the Hon. Lyman J.
Gage of April s, 1899, etc. make an
swer as follows:
Use In Stock Speculation.
The two letters referred to in the
inquiry are separated by a period of
sixteen months, but all the knowledge
or belief the secretary Of the treasury
4ldQ ds 70 the USES 10 WHICH uGDDSlLS
in the National City bank were TO be
put. at either period, or at any other
period between Dec. p, 1897. and April
s, 1899. was obtained from these letters,
which have already been submitted to
the senate in answer to former inquiry.
Beyond the information conveyed by
these two letters the secretary has no
knowledge whatever. They were not
supplemented by personal interviews or
telephone communication"
''SiE-And whether or not the secre-
tary of the treasury or any Of his sub
oTdinates had any correspondence, tele-
graphic or telephone or otherwise, or
any agreements, documents, papers or
conversations with the officials of the
National City bank Of New York. be
tween the period embraced from April
%, 1898, to June 2, 1898; Sept. 10, 1893 to
Oct. 10, 1898; Aug. 26, 1899, to Dec. 10,
1899. and if so let him accompany his
response to this resolution, with copies
thereof.
Senate Already Informed.
THE senate has already been furnish
ed, as stated in my communication Of
Jan. 10, 1900, with all correspondence,
letters, kilograms, agreements, docu-
ments and papers in the possession of
the treasury department with reference
to deposits in the National City bank
of New York from March 4, 1897, to Jan
4, 1900, the date of the previous senate
resolution on this subject For that
reason there have already been furnish
ed 10 the senate. copies of all CORES
POndence Of every kind and description
from April 2S, 1898, TO June 2, 1898; Sept
l9, 1898, TO Oct. %, 1898; Aug. 26, 1899, to
Dec 70, 1899
The department is without The
means Of preserving conversations and
for that reason is not able to comply
with the senates request for copies OF
conversations, if any were had
1t has not been the practice Of sec
retaries of the treasury to preserve
converse lions. It may be said in gen
eral. however, that in the transaction of
the business of the department with the
National City bank or with any other
bank no conversation has been had.
either by telephone or face to face.
which has had reference to any rela-
tons. official or private, otherwise than
as fully set forth in my communication
to the senate, dated Jan. 10 1900.
No agreement past, present or in
contemplation. has ever been had with
the National City bank otherwise than
is literally set forth in my communica-
ton to the president pro teInpore of the
senate of Jan. 10. 1900"
The Final Section.
The final section Of the senate inquiry
reads; And the secretary of the treas
ury is further directed to inform the
senate Of the amount Of United States
bonds held in trust by the treasury de-
partment for the Standard OIL company
Of the city of New York. tC secure de-
posits Of the National City bank of
New York City. and upon what dates
these bonds were assigned and the
amount thereof. or at any time held
by the government of the United States
for the Standard Oil company"
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