The Washington times., 1904-05-08
WARRANT TO PAY
FOR CANAL SIGNED
Ceremony Takes Place at
Treasury Department.
MADE OUT TO MORGAN
Instrument to Be Delivered to New
York Financiers Personally Mon
day by Secretary Shaw.
MADE OUT TO MORGAN

In the presence of the several Assist
ant Secretaries of the Treasury, Pri-
Vate Secretary to the Secretary of the
Treasury Edwards and Secretary
Ludlow, secretary to Assistant Secre-
tary Keep, the $40 100000 warrant, pay
ment TO the French Company for the
Panama Canal, the largest warrant
ever drawn by the United States Treas
ury, was signed at 3:14 p. m. yesterday
by Secretary Shaw.
II may be said that there are three
kinds OF Treasury warrants-pay war
rants. bookkeeping warrants. and set
uement warrants. Bookkeeping war
rants. drawn for the sole purpose of
striking balances and involving no
transfer of actual cash, have run as
high as Sl37, 100000.
Records Broken.
For actual transfer Of cash. however.
the only warrant ever drawn by the
United States Treasury officials which
approached in amount of money the one
drawn yesterday, was that used in pay
m ent for Alaska. in July, in 1868. for
$7.200OoO.
The Geneva award amounted to 81. D..
$4,000. but was paid in several con
secutive warrants. The same was the
I
Islands, where the amount involve%
was so. 100000, but this was paid IN
four warrants of 100000 each The
history Of the Treasury, as told by SEQ
retary Shaw, Comptroller Tracewen,
and United States Treasurer Roberts,
shows no warrant worthy to compare.
IA the amount involved. with the So
100000 voucher signed yesterday by Les
lie NJ Shaw.
The event win become historical. and
the incident dramatic. For more than
a century the dream of successive -Ad-
n.-nistrations of varying political tone
mas been Tor q tranS-lSthmlan canal. q
has remained for the Administration IF
i heodOre Roosevelt TO accomplish. BY
Sesies of dramatic climaXes, which
have drawn upon his regime perhaps
more criticism than praise. TO develop
by initiative the final accomplishment &c
this dream of the Western Hemisphere
The Formalities.
The formalities Of the signing of the
$4,000. 900 warrant were a trihe different
from those usually observed in that no
deputization was permissible. Secretary
of the Treasury Shaw was the first
signer Of the warrant. his signature
representing the general pOlity Of the
Administration the next signer was
Comptroller Tracewell, whose signature
meant legal approval or the transac.
tons; the last signature was that Of
United States Treasurer Roberts. whose
name alone meant the actual transfer
OF cash ] nminOr warrants these gen
tlemen are frequently represented by
their chief clerks.
Going to New York.
After a consultation with the Presi-
dent and the Attorney General, Secre-
tary Shaw decided TO make the pay
ment TO the French company with one
warrant This warrant is drawn pay
able TO u. p. Morgan & Co, Dlsbursing
Agents for the United States" which
was Secretary Shaw's method Of meet
ing the contract entered into between
the Attorney General and Mr.. Morgan.
OF the amount involved there is some
S27. 900. 900 in ten banks in New York city.
and this amount will be set over 10 Mr.
MOrgan's credit with no more fOrmallty
than matter Of bookkeeping.
The remaining $4,000. 600 will be paid
from the Treasury direct. The warrant
Is an ordinary green settlement warrant.
bearing the Endorsement in the left-hand
corner Of the subtreds'irer Of New York
10 pay the amount Of the yOUch-i
Although a warrant for such an
amount would. IL - al no earth
Nv value 10 cosecu .ceyC the parties
10 whom X E. ountv payable, Secretary
Shaw has decI,-rd 10 carry II over TO
New York himself. and he will person
ally present II TO the Morgan firm and
get q receipt therefor. de will be ac-
companied by his secretary, j. H. Ed
WGr0=-