The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-09-26
Interest ON Bonds Will BE Prepaid Up
to June 30, 1908, at Terms An
nounced by the Secretary.
TOWER TO SUCCEED WHITE
WILL BE TRANSFERRED FROM ST.
PETERSBURG TO BERLIN.
BelIamy storer Likely TO Be Sent
Russian Czar.
Special to the Indianapolis Journal.

special 10 the Indianapolis JOURNAL
WASHINGTON. Sept. 25.-The admins
tration took sufficiently serious no.
tice OF the report of the prob
able retirement of Secretary Shaw
from the treasury to give official denial
to-day. There has been no basis in fact
for these rumors. although 1t is admitted
their birth is natural. The Presidents
Logansport speech has been taken as op-
posing in many important respects the re-
cent announcements Of the secretary Of the
treasury on the tariff policy most desirable
for the Republican party. 1t was vigorous
ly asserted that these differences of opin-
ion and conviction made it impossible for
Secretary Shaw to longer remain a men,
Der Of the Presidents official family. The
President Is not man who evades such
reports and the object Of his interview
with the secretary of the treasury this
morning was the cause of issuance of
such a statement which would definitely
dispose OF the rumors. The interview
was most cordial and pleasant, lasted for
more than an hour and was entirely sat
fsfactory. The result was the issuance of
the following statement by the secretary
concerning the ramor that he had resigned:
II denied this rumor in Chicago. II
a
story that has no author and is built upon
a false assumption and is enlarged upon
simply TO fill space. The President and the
harmony. OF this there need be no doubt
IL the speeches made by the President and
the secretary will be read and compared in
stead Of the headlines"
This need not be taken as an indorse-
nent by the President OF the many public
utterances OF his secretary of the treasury
1t means that the President gives cordial
and emphatic approval of his administra-
ton of the Treasury Department. The
other matters are something entirely apart.
Both are Of public character and may
stand their merits. The President never
thought Of Secretary Wilson's attitude on
the sugar beet question in relation to his
usefulness secretary of agriculture.
This Is not intended as an intimation that
there are differences between Roosevelt
and Shaw on any questions. They are of
accord on treasury matters and there Is
no thought OF Shaw retiring.
TO INCREASE CIRCULATION.
The secretary also gave out the follow
Ing statement to-day, previous to the de-
NAL of the Chicago rumor:
Money once covered into the treas
ury land this. Of course. includes the sub
treasuries) cannot thereafter be deposited
In banks. All customs receipts are by law
payable TO the treasury and subtreasuries.
The only fund. therefore. available in
banks Is internal revenue and miscellan-
eous, receipts before they have been actual
ly covered into the treasury. This amounts
TO about $4,000 per day, and since the
stringency arose to its fullest extent have
been steadfastly returned to circulation.
This policy will be continued for thirty or
sixty days. IL needed, and longer Il neces-
sary. In the meantime national bank cir
culation has been increased about 1900, 900,
largely induced by the distribution of de-
posits and the further increase to the
amount Of $50 600 is assured.
All rumors of experiments have been
unauthorized by the Treasury Department
1t Is to be hoped that the public will place
no credence In vagaries started by ire
sponsible and untrusted men of the street
IL Is also hoped that the country will un-
derstand that the Treasury Department. to
the extent OF its ability, will stand by the
banks. East and West. North and South,
and IL Is hoped also that the banks will
stand by every business and every interest
that is worth protecting.
THE only way to get money out of the
treasury into circulation after II has act
ualiy been covered in Is by the
payment OF legal obligations OF the
government. These may be antici-
pated. The department did anticipate
the October interest. 1t now offers to
anticipate all interes. maturing between
Oct ! and the end of the fiscal year. IL pre-
sented within sixty days. at a rebate of
Is at the rate OF "a per cent. per annum
In other words. these obligations will be
prepaid at such a rate as TO allow the gov
ernment TO profit thereby at the rate OF "a
per cent. per annum. The amount matur-
ing before June 30. 1903. Is in round figures
so, $4,000. The profit TO the government. II
this offer shall be accepted. will be In round
figures $4,000.
There will be no experiment tried and
no policy adopted until after mature delib-
Grafton and feelers will be sent out.
Anything TO the contrary should be dis
credited"