The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-03-01
KING OF FINANCIERS
MORE POWERFUL THAN PREsI-
DENT OF THE REPUBLIC.
BERRY SPEAKS OF MORGAN
AND HIS CONTROL OVER TEE Ma
TIoN's BUSINESS.

Democrats Opposed the AIdrich
Bond Deposit Bill in the Senate.
Law Would BE Used For PolItieak
Purposes and For FavOritism.
Clay Said 1t Would Outlaw Ten
New states-RepubIican Promise
to Reduce Revenues Next Session
IL There Is "A Surplus
Washington, Feb 2S.-The Senate to-
day passed the Notifications appropri-
alton bill and the House immigration
bill, with amendments. The general
deficiency bill. the last of the appro-
priation measures to be considered.
was reported from the committee. The
greater part of the day was given up
to the consideration of the Aldrich
bond deposit bill, which was debated
at length. but upon which a vote was
not reached.
The Senate agreed to take up the
Aldrich bill by vote Of AZ to IS. The
vote displaced the statehood bill as the
unfinished business.
Senator Berry of Arkansas opposed
the Aldrich bill on the ground that it
extends and enlarges the powers of the
Secretary of the Treasury. 1t permits
him. Senator Berry said to select
particular class of national banks with
whom he viii deposit money. He de-
clared that the law would be used for
political purposes and for favoritism.
Continuing. Senator Berry said:
=
day. by reason of the transactions hs
has had with different Secretaries Of
the Treasury. has gained such an i'm
mense fortune, such control over the
business organization that he is more
powerful even than the President him.
self"
Criticism by Clay.
An amendment offered by Senator
Clay Of Georgia required the secre-
tary of the Treasury. so far as prac-
ticable. to fairly distribute the depos-
its authorized. Senator Clay called at
tention to the provision for the accept
ance of the bonds of any city or coun-
ty which has been in existence for a
period of twenty-five years, and said
that II enacted into law. il would
practically outlaw ten new states
Senator Berry moved to displace the
Aldrieh bill with the antitrust bill,
but the motion was defeated By par
ty vote. except that Senators Hoar,
Nelson ana Mason voted in afirnna-
tive. The vote stood 30 to Al
Consideration Of the Aldrich bill was
then resumed.
Senator Bailey said he intended to
vote for the bill. that his course
would be accentuated by his aversion
TO the accumulation of money in the
treasury.
Senator Blackburn opposed the bill.
He said that under its provisions the
banker could take money from the
treasury vaults by paying Ia per cent.
upon IL. and then loan ii out at a rate
of interest known only TO the banker
and the Lord"
Morgan an Illustration.
Coming back to Mr.. Morgan as an
illustration" said Senator Blackburn.
would he not fined himself in pos
session of such collateral as would en-
able him to draw out some of the sur
plus?"
Senator Aldrich-"I do not know"
Senator Blackburn--"Nor do /, but
/ suspect he has,
Senator Blackburn gave notice Of
his intention to offer the LdttleheId
antitrust Dill as an amendment to the
pending bill.
Senator Teller said that the revenues
should be reduced, whereupou Senator
Aldrich asked Senator Teller II he
would cooperate with the Republican
side Of the chamber at the next ses-
sion in reducing the revenues. which,
he added, I'VE shall certainly UNDER
take to do, provided there is a sur
plus
Senator Teller replied that he would
be found willing to lend his aid in the
direction indicated. and said that he
believed the Democrats would all be
found of one mind in that respect
The bill was then temporarily laid
aside. and the conference report on the
District Of Columbia appropriation bill
was agreed TO.
The immigration bill was then taken
up and passed with an amendment Of
fered by Senator Bacon. excluding an
archists.
The Senate took a recess until II
O'Clock tomorrow, when a session nilf
be held for the purpose Of delivering
eulogies upon deceased members OF the
House.