Pike County press. (Milford, Pa.) 1895-1925, 1903-09-04

the treaty. 1t is argued here that
when the Colombians see how many
newspapers urged the immediate
abandonment Of the Panama route in
favor Of the Nicaraguan.Costa Rican
route, that too will have salutary
effect.
Secretary Shaw has greatly reliev-
ed the apprehensions entertained by
leading financiers, by devising a
method whereby he will be able to
deposit in the national banks a fund
of not less than s40,OOO,OOO if the
movement Of the crops this fall is
attended by a money stringency.
According to the secretary's explana-
tion, he began last fall to gather the
internal revenue receipts into a fund
to meet just such an emergency.
These receipts have been segregated
so that there has been no intermixture
of customs receipts and the secretary
believes, therefore, that he has all
necessary authority to use the internal
receipts to relieve the banks if the
occasion arises. Il is, moreover, the
intention Of the secretary to accept
state and municipal bonds as collateral
for the deposits of the internal
revenue funds, as was done last year
when the stringency in Wall Street
became acute. 1t was not the inten-
tion of Secretary Shaw, however,
that this sOurceOf relief should become
known at this time, as he feared that
his ability to relieve the situation
might be discounted, but the facts
leaked out and now the secretary
will explain his plans in an address
he will deliver in Chicago this week.
Meanwhile, Senator Aldrich has
issued a statement from his home in
Providence in which he says that he
has reason to believe that material
progress is being made in the harmo-
nizing of the views of senate and
house on the subject of currency
legislation and the senator even goes
so far as TO say that when congress
eonvenes, Speaker-to-be Cannon will
be found as enthusiastic in support of
the measure which the senate finance
committee will bring in, as Mr..
Aldrich himself. If such a result is
attained it will prove another
monument to the great harmonizing
powers of Senator Allison who has
gone west on a mission of peace and
education. Senator Quay, who pass
ed through Washington on his way to
Florida last week, gave out a brief
and characteristic interview on the
subject Of financial legislation which
foreshadows an Intention on the part
Of the senator from Pennsylvania to
make trouble when the financial
measure comes up on the floor Of the
senate. The senator says that ne sees
no occasion for financial legislation,
that there is money enough for
everyone but the Wall Street brokers
and he sees no reason why congress
should legislate to please them. Mr..
Quay also says that he appreciates
that Wall Street can occasionally
corner the money Of the country, but
he does not believe that any reasona-
bic increase Of the volume Of the
circulation will foil the avaricious
mischief-makers Of Wall Street.
There is some doubt, however,
among those who are acquainted
with the willy Pennsylvania, as to
whether he was altogether sincere in
tins interview and Il Is suggested as
not unlikely that Mr.. Quay was
merely seeking 10 bring Senator
Aldrich to terms on a statehood bill
which, Il Is said, Is TO be resusciiated