Evening star. [volume] (Washington, D.C.) 1854-1972, 1904-02-03
AT THE WHITE HOUSE
Secretary Shaw Confers With
the President.
A CALL ON THE BANKS
PREPARING TO RAISE $50, ,OOO, 900
PREPARING TO RAISE $50, ,oOO, 900
FOR CANAL PAYMENTS.
Louisville Pension Agency Vacancy
Matters in Iowa-Gen. Viljoen, Boer
Leader, Lunches With President.

payment to the republic of Panama for the
strip the isthmus. $40o0O,o0O to the
Panama Canal Company and s10,0o0000 to
Panama.
Will Call on the Banks.
The treasury has not the cash bal
ance in the treasury vaults to meet the
entire $50 100000 payment and a large part
of the amount will be called for from de-
posits os government money now with
tional banks. The proposition Secretary
Shaw has about settled upon is to make 4
call upon national banks for about 20 per
cent of the deposit now with them. As
the banks hold about $16O,0O0,0o0 of gov
ernment funds they must. therefore return
to the United States treasury about S32
900, 900. The amount is more likely to be
S30,0;0,OO0 when the call is finally sent out.
Every bank in the country having deposits
above $4,000 will be called upon for Its
share, and the exemption of the smaller
banks will reduce the total to be called to
something like $4,000, 600 stated. The
exact time for the clll has not been de-
termined, but will probably be about the
middle of the month. by which time the
Senate is expected to ratify the canal
treaty
The money will probably not be immedi-
ately required from the banks as the De-
partment of Justice may need some time
to adjust claims against the canal property
held in France and Colombia.
The details of the treasury plan have not
been fully determined upon. but Secretary
Shaw is certain that the entire payment
will be effected without disturbance TO The
money market and probably without any
of the money going out of the country.
In the Treasury Vaults
The Treasury Department In Its own
vaults has an available cash balance Of
something like s57 100000. and the payment
of 500, 600 900 out of this will reduce the
total below what it has been in some time.
The traditions in the department are that
the working cash balance should be around
$50, 600, 900. But for the probable loan to
the st. Louis Exposition Company of ST.
000, COO and th4 payment of about 81 or, 90
more on the redemption of maturing per.
cent bonds. the Secretary of the Treasury
would have not found it necessary to call
for so much money from the national bank
depositaries. The payments redemption
of 8 per cent bonds must be made this
month, and the probable loan to st. Louis
may have to be made fhis month. This
total of 10,000,000 would still further re-
duce the working balance of the treasury
proper, bringing it down to something like
S37 coo 600, which might or might not be in
creased by receipts during this month. To
the great surprise of treasury officials, the
receipts in January were below the ex-
penditures
No stringency in the money market is ex-
pected. as the belief Is that much of the
money withdrawn from national banks and
paid out by the government will soon af-
terward find its way back into the banks
Louisville Pension Agency.
The pension agency at Louisville was dis
cussed by several callers at the White
House today. The President is understood
to have a leaning in the direction of~ex-
Representative Erwin of Louisville, but he
has by no means decided on the man for
taf Ennch ar
Smith. democrats. called on the President
this morning and spoke good word for Mr.
Erwin. who served in the House with them
and who has the good will of Kentucky
democrats. Another caller was Representa-
tive Hunter, whose leadership in Kentucky
politics entitled him to consideration. He
was with the President some time talking
over this vacancy and other matters Of iE-
terest to the state. Representative Hunter
is from the famous mountain district of
Kentucky, where the democrats never put
up candidate except in form. 1t was DR..
Hunter who managed the campaign hat
resulted in the first republican governor CT
Kentucky, Gov. Bradley. and he has long
been one of the strong men in tie party.
While United States minister to Guatemala,
DIR. Hunter somewhat relaxed his mold Ga
the machinery of the state and John W.
Yerkes. commissioner of interh u revenue.
took control. The recommendations OF Mr..
Yerkes have for some time been accepted
by the President in all appointments Tor tina
state. but the election of Dr. Hunter to
Congress may cause division of the pow
erS.
Dr. Hunter has announced himself as f..
vorable to the nomination Of President
Roosevelt and will support the efforts in his
district to elect Roosevelt delegat
Russia's Grip on Manchuria.
j. f. Hykes, who has been the agent OF
the American Bible Society in China and
the east for thirteen years, called on the
President this morning to pay MS respects.
MIR. HyIes has not been to this country
since he first went to China. Manchuria is
part Of the territory covered by Mr.. Hykes.
and he is familiar with the region He
said today that Russia has firm grip on
Manchuria and he doubts whether this
grip will ever be shaken loose.
Philippine Attorney General.
Attorney General wilfiey of the Philip
pine government was presented to the
President this morning by Secretary Taft
Mr.. Wilfey is in the United States on legal
matters concerning the Phi ippines. and Will
appear before the Supreme Court in several
important cases that pending there.
Secretary Taft also introduced Murray M.
Shoemaker and M NJ. Shoemaker. both OF
Cincinnati.
REPRESENTATIVES, Hepburn and Smith of
Iowa called on the President TO ask him to
appoint Rev. A A. Walburn OF Audoboa,
Iowa as a visitor to West Point Military
Institute.
Back From the Isthmus.
Captain Gleaves. commanding the May
flower, the Presidents yacht. was at the
White House. having just returned from
isthmian waters. He will soon leave with
the Mayfiower for southern waters to take
Admiral Dewey to the naval maneuvcrs-
Captain Gleayes and the Mayfower have
- a. flaa 18th making q chart
of isthmian waters.
Senator Platt of New York had a brief
conference with the President this morn
ing, declaring that IL was of no concern
and of no interest
Iowa Matters.
Senator Allison was one OF the first
callers on the President this morning.