The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1906-01-24
JUDGESHlP
HANGS FIRE
Continued from Page ID

Dargie, Supreme Court Judge Hen
shaw, and all that ilk. These men
stand together and stand by each other
in all things political, and generally
win their fights.
/ Metcalf, being close to Perkins, can
. perhaps be relied upon to hold the
Senator, and through him Senator
; Flint, TO the President in what is a
very critical time for President Roose-
welt and Secretary Taft. The admin
istratiOn stands in need of Senators,
just at the present time, and every
one counts. In fact, the President has
reached the most critical time in his
administration. The San Francisco pa
pers received here by the last steamer
printed the following:
AFTER THE PRESIDENT.
WASHINGTON, January 11-'That
Secretary Taft had no authority for
entering into his agreement with the
republic of Panama and banking
houses doing business in the isthmus
for the maintenance of the parity of
Panaman money and making the
money of the United States legal ten
| der in Panama.
1T is understood this is the unani-
nous report of the Committee on FL
nance which was directed by the Sen
ate to investigate and report upon the
Secretarys action. Republican mem
bers of the committee have made it
plain that they see no way by which
to defend the action of the Secretary
of War. Senator Bailey, on whose
resolution the investigation was or
dered, has given assurance that, if a
unanimous report be made, he will not
debate the questions involved but if
there is an attempt to justify the Sec
retary's course the matter will be car
RED into the Senate.
Every Republican member of the
committee comedies with Senator Bal
ley that this financial agreement, tenta-
mount to a treaty with the republic
of Panama, was entered into without
any warrant of law.
There has been no more important
political step in recent years in Wash
ington than that decided upon by lead
ing members of the Senate without
regard to party, with reference to the
propensity of President Roosevelt to
act on his own responsibility, without
reference to Congress. 1t has been
definitely decided that Mr.. Roosevelt
shall be curbed, and effectually curbed
Whether this is to be a peaceful proc
ess will rest entirely with the Pres
ident
THE Senate is going to investigate
every act of the President that it con-
siders unconstitutional or as invading
Its prerogatives, and as the first step
it proposes to inquire at great length
and with much formality, into the ac-
ton of Secretary Taft, under instruc-
lions from the President, in making the
now famous agreement to maintain the
parity of the silver coinage of the re-
public of Panama with the money of
the United States.
Mr.. Roosevelt knows of this inten-
ton, and does not view it with entire
equanimity
MIR. ROOSEVELT WARNED.
"The first sign of this rebellion of the
Senate was shown when Senator Kit
tredge told Mr.. Roosevelt three weeks
ago that he had better prepare for the
fullest sort of an investigation of his
acts in connection with the Panama
canal. The next sign came yesterday
when the Senate, without a dissenting
vote, adopted a resolution introduced
by Senator Bailey of Texas directing
the Finance Committee to inquire into
the circumstances of the agreement for
the maintenance of the parity of the
silver money of Panama
Some of the most prominent MEM
bers of the Finance Committee have
expressed the opinion that, in making
this agreement, President Roosevelt
and Secretary Taft had, in an entire
ly Illegal and unconstitutional way,
made a treaty between the United
States and Panama. They had acted
one Senator said, as if the republic of
Panama We're one of the colonial pos
sessions of the United States.
THE agreement, which the Senate
holds is treaty, was made between
the Canal Commission, acting through
Secretary Taft; the republic of Pana-
ma, acting through William Nelson
Cromwell, its fiscal agent and these
bankers: Ehrman & Co., Isaac Bra
den q Bros, the international Bank
ing Corporation and the American
Trade Development Company. 1t was
entered into by Secretary Taft in
Washington. on June 30, 1904. and con-
firmed and promulgated in Panama on
December 8, 1904 II
Under the agreement the silver coin
age of Panama was to be recognized
at the ratio of two silver pesos for
each dollar of United States curren-
cy. Exchange at Panama was at the
rate of two pesos and one cent for each
American dollar. American money
was to be exchanged for Panama
money at the rate of three-fourths
per cent, and exchange on New York
was to be sold at rates not to exceed
three cents
THE ALAMEDA COUNTY DYNASTY