Middletown transcript., 1905-12-02
WASHINGTON LETTER

WASHINGTON LETTER
Cecretary Shaw las given it out to so lie
~ personal friends that there will be no
call in the coming Presidential message
for fresh financial legislation so far as he
is concerned. He has not given any fig
ures, but states that the condition of the
country is much better than during the
last fiscal year and that the deficit which
was then something like $24 100000 will
considerably reduced. Secretary Shaw
has been called upon by number of
business delegations that feared the i'm
position of fresh taxes and he assured
them all that he was not in favor of up
setting the business conditions by any
fresh financial legislation at this time.
This assurance has been very grateful to
the industries that thought they were
threatened and is in line with the stand
that has been taken by Speaker Cannon
and the leaders in the Senate against any
attempt at financial legislation just now.
Whether the message will contain any re-
concentrations for tariff revision, it is of
course, impossible to say. 1t is known
that next to railway rate legislation, the
President is most anxious for tariff egis-
lation, but in view of the bad prospect
for legislation except of the most neces-
sary sort and the many other matters
clamoring for attention, it is possible that
the matter will be allowed to 60 for tile
time being and will be dealt with in a
special message later on.
~
There is a fear expressed in some
quarters that the canal situation may
have an unfavorable effect on the finan-
cial showing OF the country. 1t is stated
that before Congress passes the canal
bond bill, the canal commission will have
contracted liabilities amounting to fully
SIC, ,000, ,O0O0 that will have to be met by
the close of the coming fiscal year. 1t is
the intention OF the Commission TO pay
back this money into the Treasury out of
the proceeds of the bond sale, but there
will be some delay in issuing the bonds
as additional legislation will be needed
before they are available as the basis of
national bank circulation. They were
not so made by the Spooner Act and it is
recognized that they are to bring much
above bar or even that.
~
There has been some discussion as to
| whether the Panama Canal Commission
was Authorized to go on with the work
and contract bills in excess of the $le,.
0OO,O 900 already appropriated. But the
matter was laid before both Secretary
Taft and Chairman Shonts and they both
agreed that under the Spooner Act the
President Was empowered to 60 ahead
with the construction of the canal GER
tainly up to the limit Of the $l35, 600, 600
authorized in the bond issue in addition
to the $40, 100000 already granted. The
board of consulting engineers OF the canal
have already held their last meeting be-
fore re-assembling in Brussels where the
report will be finally signed They will
sail before the end Of til is month.
~
A telegram was received by the Secre-
tary of the Navy from Annapolis this af-
ternoon requesting that he order the exhu-
nation and an autopsy upon the body OF
the late midshipman J. R. Branch who
was killed in glove fight at the Naval
Academy. The decision to hold the au-
topsy was sudden and one Of the sensa-
tional feature of the trial which is re-
garded as very important one. The
Secretary has not announced his decision
but there is no doubt that the request of
the court material trial board will be
complied with.
~
Railroad rate legislation is in de-
cidedy nebulous state and the prevailing
opinion is that there will he comprise
between what the President is understood
to favor, as expressed in the Esch Town
send Bill OF the last session and also in
his recent speeches in the South, and a
measure very recently proposed by sena-
tor Foraker. To the layman, the differ
ences between the Presidents legis alton
seems to be the difference between Tweed
ledum and Tweedledee. Nevertheless,
this difference may be of great significance
to the railroads and to the country. The
essence Of the Presidents contention is
for maximum rate to be fixed and ad-
ministered by a commission to be ap-
pointed by him. The Foraker measure
seeks to amend existing statues and 10
expedite suits in the Federal Courts that
may be brought by the Interstate Com
merce Commission on complaint OF a
shipper, the costs OF such litigation SO far
as the complainant is concerned, to be
| ho,,,o ~, tlo