Milford chronicle., 1902-11-07
WASHINGTON NEWS.
Washington, Oct, 81, 1902.

Washington, Oct, 27, 1902.
The President is deeply impressed
with the importance of the work which
will fall to his party during the next
few years, and he is convinced that the
welfare of the country demands that
this work shall continue uninterrupted. |
He las never taken any stock in the |
theory that it would be just as well to
let the Democrats win this year and so
demonstrate to the country that they
were utterly incapable of constructive
legislation. He has felt genuine anx-
iety in regard to the outcome in New
York and Pennsylvania, and has been
quoted as referring to the possibility of
Democratic vistory in the latterinstance
as Threatened national calamity"
The warm personal regard existing
between the President and Governor
Odell is we'll known and in a measure,
the Governor of New York has sought
to carry out some of the policies which
Mr.. Roosevelt himself inaugurated
when he was Governor, and he has sue
ceeded abl,' in so far as the reduction
of personal taxes in the State is con-
cerned.
Secretary MOOdy's statement, made
at Lawrence, Mass, that the duty on
anthracite coal must be repealed at the
first opportunity, confirms the predic-
tons male in these letters some time
ago, that the President would advocate
such removal. The President believes
that it will be possible to alter such in
dividuaI schedules of the tariff as may
be imperative without the general re-
vision threatened by the Democrats,
and which would serve to unsettle bus
mess throughout the country.
A great deal of nonsense has been
published by the Democratic press in
regard to the recent purchase of bonds
authorized by Secretary Shaw, includ-
ing statements which clearly demon
strated that the editors or their cores
pOndents did not know what they were
talking about. When the Secretary of
the Treasury desires to purchase bonds
he must do so on the market and at the
market price. 1t would be useless for
him to offer par for them or even any
price materially less than the market.
They are held by private individuals
who would not part with them at a
sacrifice and whom he has no way OF
compelling to sell. Secretary Shaw
paid 1879 bid to 1881 asked. At the
price which the Secretary paid for the
1925, 4 per cent bonds the Government
saves 1,952, more than it could posi-.
bly, earn ON bonds of earlier maturity
which could be purchased for lower
premium. Two other objects were
served, however, by the purchase o.
these bonds. The larger premium paid
enabled the Secretary to release a lar
ger amount Ofmoney from the treasury
than would have been the case had the
purchase consisted of bonds of earlier
maturity, and further, there are prac
tlcally none of these bonds deposited
security for bank notes and, therefore
their purchase did not operate to cur
tail the volume of circulation.
Secretary Hay has taken a deter
mined stand against arbitrating tn,
Alaska boundary discussion with Grea
Britain, and rightly. He says tina
when the United States purchased
Alaska from Russia it purchased tn,
specific rights embodied in a treat,
effected between Russia and Grea
Britain in 1925, That treaty definitely
placed the boundary now involved il
the controversy, at three leagues from
the sea, which the United States in
terprets to mean thirty miles from It'd,
water. The Canadian officials, how
ever, are active in bringing to ligh
every story Ofan old boundary mission
etc., with view to complicating tn,
issue and befOgging the essential point
Unfortunately, the American officials
Occasionly err in this direction, at leas
they have in the past, as is witnessed
by the authorization of an expedition
ON which Lieutenant George T. En-
mons, U. S. A., retired, embarked and
in the progress of which he discovered
numerous landmarks, on account Of
which he is now making the subject OF
an official report. From an ethnOlOg.
zeal standpoint Lieutenant EmmOn's
discoveries are doubtless interesting,
Lut from the standpoint of the State
Department they are valueless.
President Roosevelt accompanied by
Secretary Root and Mr.. GOrtelyOu, left