Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1901-11-04
LETTER.
. OF THE HosIroRl
Washington, oct. 2sh, 1901.

rotary of the Treasury Gage, after his
return from Milwaukee and asked the
secretary to somewhat further eluci-
date his fnauciAi creed as given to
the American Bankers Association.
Mr.. Gage replied that he hardly cared
to 60 into the subject more extensive
lv at this time as he was just prepar-
ing his annual report, and that to do
so would be to ''steal the thunder"
from that. "Then / understand that
an e~iucidation Of those ideas and the
methods by which they may be car
ried out will form the chief topic Of
/ your report?" was asked. mot pre-
cisely. Ibid not say that, +" the secre-
tary replied. ''But substantially"
Gwen, to a considerable extent"
"Mr. Secretary, the papers opposed
to the administration r charging
you with favoring the bankers at the
expense of the people and that by
your system you would put the peo-
pie entirely in the power of the bank
ers." "Of course, that was to be ex-
pCCIC0' 0Ot VIA lSD "a wing
conception OF the facts. Those papers
don't or won't, appreciate that the
prosperity of the bankers depends
upon the prosperity of the people.
that their interests are Identical"
"Would you not place in the hands of
the bankers the power to initiate or
contract the currency at will?" "My
idea is simply to get the government
out of the banking business. That is
not its province and it is the province
of the banks. But you must wait for
my annual report for further details"
Speaking of financial conditions in
the West, Mr.. Gage said that he found
everything extremely satisfactory.
That there was no evidence "that crop
failures would result in an increase of
farm mortgages, and in fact the re-
publican prosperity showed every
evidence OF continuing at the food"
The secretary further said eve have
right here in the treasury,..a barometer
which is never failing in the demand
for bills of small denominations. We
are working u force at the bureau
of engraving and printing two hours
overtime and the mill that marufac-
tares the paper on which they are
printed is turning out our million
extra sheets per day and still we can
not supply the demand. That is the
best evidence in the world that the
crops are moving smoothly and that
money is in general circulation. Yes,
there is abundant prosperity in the
Vest
President Roosevelt returned from
New Haven Thursday morning, and
on Friday morning held the first fully
attended cabinet meeting Of his ad-
m~inistration. He somewhat surprised
his cabinet by the announcement that
he would write his entire message
himself instead of calling upon the
various members to write those por-
lions dealing with the work of their
respective departments. He further
stated that it was his intention to
state the facts, without making rec
concentrations, in regard to several of
the important matters congress would
have to consider. He read some Xxx
cerpts from the message and the i'm
paper would be a conservative, terse
production, probably somewhat short
er than has heretofore been the case.
It is said that he will recommend the
establishment of a department of
commerce and industry.
Before committing himself on the
reciprocity treaties, it is his desire to
learn the views of prominent repub-
lican senators, and to that end he has
summoned a number to the White
House. The Hay Pauncefote treaty
will also be literally discussed. The
president has had a conference with
Senator Aldrich of Rhode Island, who,
it will be recalled, advised President
Mckinley that the senate was not
favorable to any more reciprocity
treaties or to any revision of the
Dingley tariff bill. What he advised
President Roosevelt is not known
although a good deal of curiosity at
taches to his call.
An important change in the state
department Is announced in the resig-
nation ofthe third assistant secretary,
Mr.. Thomas w. Cridler and the ap-
pointment in his place of Mr.. Herbert
II. D. Pierce, of Massachusetts, now
first secretary of the American em-
bassy, at ST. Petersburg. The state
ment is made that Mr.. Cridler's resig-
nation was called for by Secretary
Hay as a result of what he considered
lack of Judgment on Mr.. Cridler's part