The sun. [volume] (New York [N.Y.]) 1833-1916, 1903-08-15
FINANCE TALK AT OYSTER BAY
REPUBLICAN, OFFICIALS ANDJ. &.
CARLISLE SEE THE PRESIDENT.
Proposed That customs Receipts Be De
posted In National Banks-Ehwa ard
Lauterbach. Llttauer's Counsel, Dine

posted In National Banks-Edw ard
Lauterbach. Llttauer's Counsel, Dine
OF the Callers on the President.
OYSTER BAY, Aug. lathe subject of
proposed financial legislation, which has
engaged the Presidents attention for two
days now, was up for further considera-
ton at Sycamore Hill to-day, when Secre-
tary Shaw, Comptroller of the Currency
Ridgely, Senator Cullom of Illinois and
John G. Carlisle, Secretary of the Treasury
in President Cleveland's second adminis-
tration. visited Mr.. Roosevelt. Nothing
like n formal conference, however, was
held
The President saw each man separately
and talked with him about the general
propositions which the subcommittee of
the Senate Finance Committee is said to
have formulated, tentatively, as a result
of the sub commit tees study and investi-
CATION
Secretary Shaw came at 10 o'clock in the
morning and was with the President only
about an hour. Mr.. Ridgely and Senator
Cullom got here on the noon train, and they
went away just as MIR. Carlisle came in,
late in the afternoon.
None of the guests who were here to dis
c,lss financial legislation cared 10 say much
about his talk with the President. Secre-
tary Shaw refused to say anything about
the proposed measure, OF to talk about
the conditions that are prompting the
efforts to draft it.
One of the visit ors, however, who re-
Quested that his name should not be used,
asserted that at present there is only one
proposition that those interested in franz
ing the bill are agreed upon, and that is
that the receipts from the customs service
be open for deposit in the national banks,
the banks deposting Government bonds
as security. Everybody with whom the
Pres dent has conferred on the subject
has this man said, approved of this PROPOSE
ton.
But some Immediately Interested i'll the
preparation of the measure, the informant
said. suggest that other security besides
Government bonds be accepted for the
deposit of the customs money in the banks,
municipal bonds, tor instance, that are
approved by the Treasury Department,
This suggestio he declared, is meeting
strong opposition, and vii! not lie en-
bodied i'll the proposed bill
Senator CullOm WAS pessiinistlc about
the outlook for financial legislation. lie
thought that the general conditions were
such that some change in the currency laws
was needed. but he doubted whether, if any
radical attempt were made to remedy
matters, the result would be satisfactory or
beneficial to the country al large.
"The President, he said, after his re-
! turn from Sycamore Hill, lis not welded
| iT,,,1gt - Gna nj
lation. He wants something done that
will provide in as conservative way as
possible for the expansion OF the currency
more freely than now, when the occasion
demands. and for its contraction after
the necessity is over. He wants this ac-
complished bv legislation that il brief and
concise He does not want an elaborate
currency bill.
Senat or Cullom said that he was strongly
in favor of having the extraordinary ses-
sion called early in October, instead of in
November, as had been at first contcm-
plated.
He thought that the sooner Congress
passed the measure making operative
the Cuban reciprocity treaty the better
il would be for both this country and Cuba.
He anticipated considerable opposition
to the legislation, he said, but hoped 10
/ see it go through soon after the session
opened,
| Sycamore Hill was, it is said, the first step
! in the Presidents plan to have a measure
framed that will appeal to Democrats IA
we'll as Republicans and commend itself
| To popular support rather than party
strength.
Other guests to-day were Secretary
| Hitchcock ofthe Department ofthe Interior,
T. T.. Byrnes of Minneapolis, who was
sergeant al arms al the 81. Louis National
/ Convention: u. l.. Flynn, formerly dele
! gate in Congress from Oklahoma; BIS! Op
Frederick Z. Hooker. al one tune secretary
! to the Apostolic Delegation in Washington,
who Is ono of the four American Bishops
| selected by the Catholic Church to % 10
| the Philippines: Edward IAuterbath of
! New York and J. B. Bishop Of the CONNER
| rial Advertiser. Secretary Hitchcock, Mr.
| Byrnes Senator CullOm and Comptroller
! Ridgey we're the Presidents guests AT
! luncheon,
Secretary Hitchcock came, he said, TO
! confer with Mr.. Roosevelt about the phase
! of The lttAller case in which tn" Depart
mcnt OF the Interior is concerned. He
refused to say anything about the result
| of the conference.
| Mr.. Iauterbach, who is Congressman
| Lhtauer'S counsel, was, it ls thought, also
| here 10 have a talk about the army glove
! cont raCts, but he said that he came Ia
urge Il he President 10 attend he installation
Of Prof, John II. Finley rs president of the
| College of the City OF New York, late in
September. Grover Cleveland has already
! accepted an invitation to he preset
| Mr. Byruos, Mr. Flynn, Bishop Hooker
and Mr.. Bishop visited tho President ia
! paw their respects.
II came ont here to-day that considerable
| opposition has sprung up to the idea OF
calling the special session earlier han
Nov. .. A good many kilograms have been
received at the executive office opposing it.
Many Of the Senators and Representa-
! tives say that they want the time in October
to devote 10 their State campaigns, and
that il would not be to their interests politi-
cally to 90 to Washington nj that time.
II is, however, practically certain that the
session will be called several weeks earlier
than was originally intended.
Secretary Shaw departed for Vermont
and Secretary Hitchcock for New Harnp-
shire, both via New York.
WORE TINE on CANAL TREATY.