The Hawaiian gazette., 1903-08-11
WALL STREET PANIC MAY
HAVE TO RUN ITS COURSE
ESPECIAL kALL oosREsPoNDENoE no THE ApvERr1sER

WASHINGTON, d. c., July 26-Wth excitement in Wall
Street the collapse of the market increased Wash
% 10 be applied when Congress meets although the
view that Congress afford remedy and that the disease
run s Secretary Shaw holds that famine that
lies at the root of the disturbance In that he is generally upheld by
men who have studied conditions
The big fellows getting hurt daily with the saggng
to the extent of billions of dollars But
banks concerned largely question of collateral for
shnks in value the banks calling for payments That
ing man after and firm after firm to the wall but thus banks
have not been impaired They have plenty
who want the have high of interest and will have
pay high interest till the demand for somewhat
Just the panicky condition of the Street calculated
affect the industrial condition of the country generally Business
r ahu contrary TO he sual happenings on such occasions
the country seems to be paying little attention the commoon of the
great stock trades OF course they receive little sympathy when they
give for help The small people shaken out of the market
weeks Good good employment for everybody and good
mainland such pitch make the financial furry
minor Importance OF Congress will consider finance this win
ter for there is widespread demand for changes But the de-
tects the law are not likely to cause tubg of the industrial fab
Midsummer finds the federal capital as fine day
and with larger population town than during similar period for
many few politicians coming to town and then to
often eand of far interest But at the present time
when statesman has that offer is pretty certain that he
Congressional really have other business easily detected for
they travel Oyster Bay for conference with President Roose
This generally effort shake the federal plum
THE POSTOFFICE SCANDALS
The scandals in the Postoce Department have attained quick
interest again with the indictment at New York. of George W. Beavers
late superintendent of the Salaries and Allowances division There has
been bad mudde that connection for the got before
intended officials here and New York that the
for Beavers arrest should be served before the fact OF the Indictment
became public.
Department give
formation touching the investigation Some weeks President
Roosevelt issued ORDER which discussed and approved cabinet
meeting that much the publicity the postal scandals should be
off, possible. his intention that the action by the
department arrestng offenders should be withheld but he wished
curb all the possible because of the belief that
m1amng the public mind This has become opportunity for
intrigue within the Department. for the Postmaster General who has
talked freely than else about the of the
scandals friendly First Assistant Postmaster General Wynn
who first the investigation in motion AS Mr. Wynne svas
correspondent this city and friendly
with the leading correspondents here effort has been made to have
lit appear t Mr. Wynne really the bureau of information through
which much of information of irregularities leaks
But Mr. Payne there has been surprising dearth
about the Scandals though Mr. Wynne the
Postmaster General Mr. Payne of anxious have the Pres
dn order about publicity obed the letter and therefore lie had
considerable anxiety when he recently departed for his
For political for other the Department is highly
gaed Mr. Beavers Criticism feared ii Moth
ing found mpcae him crmnay in the transactions of the
Department. has been generally recognized that he the
ring leaders in the organization that had full swing there for several
There nsinuaon entirely unomded however,
that the Department shielding him because of relations and
Citations he had the New York Republican organization 1t may he
York members Congress in with
Mr. his schemes but if the Department
undone bring them 1t the
ton spare But important bring the trial of
the Beavers successful issue.
The search of Beavers record and long
ised nothing that would 1t known here
Washington against him hung fire for days and hat
inspectors give despair when little clew
by the which several other mad
again again without suspng Then the whole
eled and the made
ERNEST G. WALKER.
I,uovu 0Avr m uoasEi,u, ,,,,o or- -,,r