Missouri Valley times. [volume] (Missouri Valley, Iowa) 1874-1931, 1903-01-01
CONGRESS IGNORES
the CURRENCY BILLS
While House May Pass Amend.
ed Fowler Bill, 1t Will Be
Killed by Senate.
AN INDEX OF PROSPERITY
A New National Bank Organized for
Every Day of the Past Year
RooseveIt's Democratic
Ways.

| Washington. Dec. Sl.-There Will be
| no currency legislation at the present
session of congress. The efforts of the
financial interests, notwithstanding
they are seconded by the treasury de-
partment to introduce new system of
| Issue will lie of on avail. The Fowler
dill, which has been commended in some
quarters and denounced in others as a
plan for dangerous imitation, may be
passed by the house, but even this is
doubtful. The senate Will not consider
it in committee. Aldrich, chairman of
the committee on finance and Allison
are irrevocabiy opposed to its provis-
ions. Indeed, they are opposed to asset
currency of any character. They will
not support any bill which does not pro-
vide that United States bonds shall be
deposited With banks as collateral Sc
curity.
Congress has always been conserva-
tive in currency legislation. However
radical it might be With other SUBJECTS,
1t has never failed to View currency
measures with suspicion.
The reason for the Indifference of
congress is found in the belief held by
many that our so-caied currency fam
ines are not so much due to natural and
legitimate causes as they are TO reck-
less speculation. They profess to be-
lieNe that if New York bankers adopted
greater conservatism in the manage
ment of loans and refused accommoda-
ton to mere gamblers in times of dis
tress no serious money famine would
be possible. This, however, is only a
general belief and does not take into
account the multiplicity of ideas which
are held by members of both parties
as to the best means congress might
employ to correct the alleged evils of
our financial system.
Remarkable Growth in Banking
The year just closing has been pc
Rod of remarkable growth in national
banking. Always regarded as a sure
index to the prosperity of the country,
the advancement in the business of the
national banks this year has shown In
u striking manner the splendid condi-
tons Of trade and industry throughout
the United States. A good deal of the
increase of the business transacted by
the banks is attributed, of course, to
the law passed two years ago which al
lowed national banking institutions 10
organize with a minimum capital of
$4,000 Instead of $4,000 and provided
plan by which state banks could be con-
verified into national banks.
The progress must be attributed in
HiHuteSt measure, however, to the pros
porous condition of the country In in
oustiies and commerce. 1T is too early
to give exact figures representing the
growth of the national banking system
during the last calendar year, but 1T is
possible TO make q close approximation.
The latest reports have been made
within the last month under the con-
troller's call of November 25 The call
of approximately u year ago was for
r,f
close of business on December 10, 1901
In hat period of little less than a
year the number Of banks in the United
States incrcascd from 1921 To 1906. "A
neM national bank was organized on an
average Of every day during the year.
Democracy at the White House.
President Roosevclt's democratic
ways are daily manifest to the public.
bat are carried on 10 q still greater, eX-
tent In his tamily. 1t hos always been
II custom since the days Of George
Washington for the attache in waiting
ON the president to open the door as
ne approached, stand at one side and
bow as he passed out. This same cour-
tesg was shown President Roosevelt's
Children. and the head usher stood re-
spectfullJ by, ready to open the door
for them
The president watched The wondering
that they even unnecessarily passed in
and out ct doors Finally he approached
the attache and said frankly: II sup
pose II is the custom here to open and
close The doors for the president and his
family, and you are attending to your
duty IN doing so, but while / live here
want to open and close the door for
myself, and j want my children to en-
Joy the same freedom. II Mrs. Roosevelt
:" ishes YOU to open the door for her l
snail appreciate the courtesy, but for
the rest 1t is not necessary"
Roosevelt was asked by an old friend
Mhoin he invited to the White House to
dine With the family whether he should
Wear dress suit 1T dinner or not, to
I. the pr,esiHent replied: by
George II You think 1T Will add to your
comfort to wear it, do so, but I shall
probably dine in my riding boots, as
we won't get in until late"
Snowy Pageant of New Years.
Society is ready for the snowy
pageant of New Years day, when brill
Iiapt uniforms of army and navy Of
ficers and the court dress of the diplo-
mats transform the otherwise demo-
or ic looking town. Invitations have
en- sent to the favored ones who are
to he Behind the line at the White
House.
This was formerly favor looked for
~ official wives in Washington, but
TINS year, aside from the wives Of the
Justices OF the supreme court and other
high officials, the favor will be extend
ed TO Mrs. iioosevelt's friends, many of
them selected from local social cir
cles
The most brilliant event of the day
elter the presidents reception will be
the diplomatic breakfast given by the
secretary of STATE and Mrs. Hay 1t is
considered special favor for WON
an or man out OF official society to be
invited. All of the cabinet homes will
be especially decorated and prepared
for New Years. day and elaborate re-
ffeshments will be served