The Minneapolis journal., 1902-09-25

against Roosevelt he could have the sup-
port of the big men" here, and money |
would be forthcoming in practically un-
limited quantities. - .s$&
But Mr.. Hanna did not yield to the |
temptation. On the contrary he put 1t |
behind him in the most emphatic way He
told the men who talked with him that |
the president would be renominated by &C
clamation. unless Mr.. Roosevelt himself |
did something to prevent 1t. He would |
have to make some colossal blunder to
spoil his chances; that his future lay |
wholly in his own hand, and that his
enemies were powerlesS to hurt him. AS |
for himself, he had no thought. had never
had thought and would never have |
thought Of standing for the presidency.
Furthermore, he was for Roosevelt, and
declared his loyalty to the president In
such way that the men who listened
to him knew he was sincere. ...-,..'~ -
VIII the Democrats Put Up an olney?
Notwithstanding all this, the big men in
New York will continue to hope that
Roosevelt will be unhorsed and If worse
comes to worst they intend to try to in
duce the democracy to have a ,spasm of
wisdom and to put up safe man for
president. If the democrats do this-1f
they name an Olney or Gorman-they
will not lack for campaign funds contrib
utcd by the Wall street which they nave
VI
other the impression has spread in New
York that Tom Johnson is likely to be the
democratic nominee and the men or al
! fairs are now seriously discussing among
| themselves whether they Wo1ald peter
| have Tom" or freddy" Up to date it
appears to be stand-off, or even money,
Boss Platt knows his New York like
| book. He is fully aware Of the money an
tagonsm to Roosevelt. He doesn't like
! the president over well, and Will throw
| him if he finds it can be done. This Is the
| one ray Of hope the financial leaders nave
that at the critical moment the boss may
| be induced to desert the president and
carry his own state to some other candl-
date Considering the popularity OF
| Roosevelt throughout the country, this
may be considered a pretty small string
| to play hope air upon.
| Shaw Also Denounced.
The slump in Wall street values has
served to disgust New Workers with the
Roosevelt administration to greater ex-
tent than ever before, If that is posslple.
| To these people down here Wall street IS
| the center of the universe. and II anything
goes wrong there they blame the federal
govrnment at Washington for it. 10 day
| heard half dozen t1na nclers denounce
| Secretary Shaw as a failure In the treas
ury department., and Roosevelt as a poll
tican who thinks more Of promoting his
| NcS' W >NN~>~AAo
care of the business interests of the coun-
| try.
One Of the most outspoken of these was
the veteran Jim Keene. He thinks the
management of the treasury is as stupid
as stupid can be. In his opinion it is just
what we could expect from small coun-
try banker suddenly transferred to the
governments financial department. The
| tight money market, Keene and all these
people here say is due directly to govern
ment boarding OF its big surplus, to treas
ury draining of the country of the currency
which is absolutely needed to carry on the
business of the country. MIR. Keene or
jefferson M. Levy or Mr.. Stillman or any
Of the big men Of the street can tell Sec
retary Shaw in five minutes just what ne
should do to relieve the money market
In fact, they have told him. And they
have sent word to the president at Oyster
Bay time and again that he should do thus
and so in order to save the country. The
treasury does not move, and While call
money is up to 20 per cent down town ana
values are dropping out of stocks, the sec
retary OF the treasury is running ABOUT
out west making political speeches. An
other New York grievance against the
Roosevelt administration!
To Solve the Financial Problem.
One thing seems certain, and this is that
next winter a dead set is to be made to
| b
will solve what is called the financial
problem. The financial problem Of the
day Is how to, provide an automatically
elastic volume Of currency, and simpler
phase Of it is how to prevent government
accumulations Of money hampering the
financial operations Of the country. Some
of the biggest men in New York sought
interviews with Senators Aldrich, Allison
and Hanna while they were here last week
and urged upon them the Importance OF
some action. To their minds it is vast
ly more important subject than the regu-
lation Of the trusts or the revision Of the
tariff. AS the case stands a government
deficit would be ruinous to confidence
while a government surplus draws off the
cOuntry's funds. They want to find some
way to preserve an automatic equilibrium
Mr.. Levy wants the government to re-
fund Mr.. Keehe wants it to buy bonds
regardless of price, and Mr.. Morgan wants
government funds lent out to depository
banks railroad bonds.
1t rs an open secret In financial circles
here that a week or ten days ago Secre.
tary Shaw declared he had authority under
the land otherwise" line of the law tt
lend government funds on good railroad
bonds. He further declared that he mean
to take the responsibility of doing so i
the money situation should grow so acut,
as to require such heroic treatment A
this Wall street was delighted. But Secre
tary Shaw overdid it, and afterward de
MED that he had ever said he intended tt
do It, The tinanciers here say the presi
dent would not let him because of his fea
that the country would say the govern
ment had been turned over to Wall street
Here in New York they say Presiden
Roosevelt went back to WASHINGTON in or
der to pay attention to the financial need
OF the country and to devise means y
aVerting serious and widesp pread disaster
But New York is always pessimisttc whe,
stocks are falling and money is tight.
Journal want ADS are stepping stone
to prosperity. Try them and be convinced