Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-11-13
He TELLS A WEE STORY
Which May Be Taken to illustrate
What He is Doing.
LEGISLATION THIS CONGRESS
If He Did Not Believe Something
Would Be Done Would Not Be
in Treasury.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, November 13.-Secretary of
the Treasury Shaw was visitor at the
subtreasury this morning. When asked
what the reasons of his visit were he said
custom house arrangements primarily, but
as he was always glad to get to New York
he generally enjoyed his visits even though
they were short and busy ones When
asked II he was here for the purpose of
taking particular action as to the money
conditions he said:
i am here for several reasons, but not
particularly because of the stringency of
the money market in this city,
When further questioned as to what he
intended to do under the conditions which
he referred to in his statement issued last
Saturday, he said that he had nothing to
say in addition to that statement; that
what he said then he meant. He would not
say what he meant by "a change of con-
ditions." The fact that money was higher
today than it was on Saturday did not ap-
pear to come under his meaning as to a
change Of conditions.
Not the Hub.
Secretary Shay refers always in his COM
munications, official and private, to the
country at large. and evidently does not &C.
knowledge the right of only one section OF
the country to particular consideration by
his department. He would not say what
conditions must come about in order that
the treasury might take special action to
relieve the money market here and he
would not concede the Importance of hav-
ing money rates lower here than the con-
dtions of the stock market warranted.
The Secretary's object, according to some
observers nrOvidp handling
the currency of the country quite apart and
distinct from stock exchange business.
When asked if he did not consider New
York city the hub of the United States, he
shook his head and said: mo, I do not
consider it the hub of the United States.
1t is part or the United States and an
important part. but it is not the United
States by any means
The Secretary then told little story of a
boy who had stone bruise upon one of
his heels. When the physician came to
visit the boy, he put thermometer in the
boys mouth to find out whether there was
puS in the boys heel.
The deduction taken from this story was
that Mr.. Shaw came to New York to feel
the pulse of the country, much as tho ply
stefan who visited the boy put the Their
mOmeter in his mouth to find out what the
trouble was at the other extremity
Mr.. Shaw will leave this evening for
Washington. He does not expect to appear
in his official capacity before the bankers
now IN session IN washington, Dut mas met
some of them and will meet more of them
before that body adjourns. One Of the
questions put to the Secretary was:
May Favor Elastic Currency.
How much money is there in the Treas
ury available for relief purposes?''
His answer to this was that 1t was more
How much money is there in the treas
ury s74OOOOOO or $75OOO.OoO, but he says
that for sentimental reasons the amount
of free money should not go below $50, OOO-
OOO. If it became necessary he might use
as much as $50, O0O.0OO for the relief of the
market.
AS to the possible legislation at the COM
ing session of Congress, Mr.. Shaw said that
he did not know what would be done. but
that If he did not believe that something
would be done toward reforming the cur
rency circulating medium he would be in
private life now.
In other words, Mr.. Shaw is plainly In
favor of a more elastic currency. but he is
not willing to put himself on record as to
expressing an opinion as to what Congress