New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-09-01
KNOX FOR SUPREME COURT.
GENERAL WOOD TO HEAD PANAMA
COMMISSION.
SECRETARY SHAW"s PLANS TO FINANCE
THE ISTHMIAN CANAL
PROJECT.
[BY TELEGRAPH TO THE TRIBUNE. !

Hotel Champlain, Clinton County, n. Y, Aug.
3l-From an unquestionable source. The Trib-
une correspondent learns that President Roose
welt contemplates appointing Attorney General
Knox to succeed Justice George Shiras jr., who
recently resigned from the Supreme Court, and
making Brgadier General Leonard Wood chair
man Of the Isthmian Canal Commission If
Senator Spooner. of Wisconsin, wanted to serve
on the Supreme Court bench it is almost Ger
tain that the President would nominate him i'm
medately after the formal retirement of Justice
Shiras. But Senator Spooner has repeatedly
saic that he could not afford TO live In Wash
ington a Supreme Court Justice the Presi-
dent has turned 10 the Attorney General n fill
the place
while Mr.. Knox is devoted to his work in the
department of Justice, which in his adrnInistra :
tion' has had TO deal with unusually intricafs
and important suits. IT is thought that he yould
gladly accept an appointment TO the Supreme
Court He would have TO sacrifice his law prac-
tice IN Pittsburg. but by doing so he would at
tain a position which might we'll be considered
the legitimate ambition of all lawyers The At
torney General moreover, has recently pur-
chased an expensive house in K-st, Washing
ton. formerly owned by Mrs. Childs. Of Philadel-
phia, and as his family has entered Washing
ton society II is likely that he would be salts
hed to make his home in that city
After much study and discussion of the 18th
mlan canal question, the President has deter
mined TO place the construction of the canal un-
der the jurisdiction of the army, with full
corps of military experts the executive COM
mittee. He has the utmost faith in the techni-
cal skill Of army experts, and there is no officer
IN whom he feels more confidence than General
Wood.
AS far as known the examination of the title
OF the Panama Canal Company has far de-
Veioped no obstacles, but further legislation is
necessary before work be begun on the
canal Among other things the salaries OF the
members of the commission must be fixed The
payment of S4O,000.000 to the French Panama
Canal Company must also be arranged. The
expectation of this amount in gold might dis
turb financial affairs. But Secretary Shaw has
devised a plan 10 prevent any financial distress
from this cause. He Will use the bank deposits
as the means to control conditions. Circulars
have been sent to nearly thousand bankers
suggesting to them that they increase their
bank currency. Many have responded favor
ably.
10 meet any call that may be made Secretary
Shaw has ordered the Bureau of Engraving and
Printing TO print at once $40 900 600 in bank
notes. In case the demand comes this currency
can be furnished to the banks within one or
two days. If 1t is not called for the government
VIII only be out the cost of printing the notes
With S4O,OO00O0 put in circulation by this
means, and the S40,000.00O more which the Sec
retary may deposit in national banks on receipt
of legal security. any crisis can be met