The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1907-11-19
CERTIFICATE PLAN
MEETS HIGH FAVOR
Gold Reserve of Government
is Behind the Pro-
posed Issue

N-'iiiil tti' ~. '.- NbN. W. iItHl-
dent Roosevelt has been congratulate
cd and recommended throughout the
day on the wisdom and success of the
financial relief measures launched
yesterday by Inc administration. Many
tclegrams uom an parts of the couu-
try including New York, Chicago
and other large cities. have been ar
rYing at the White House. aud after
being read by the President have
been referred to Secretsry Cortelyou
al th Treasury department The call
ers at Jhe White House. who have
hoen numerous. have each added n
opinion ON the optimistic side of the
situation
The President was infoomcd from
Buffalo thatN his letter expressing
soundness of the country has been
printed iu several laueuaees in Buf
ialo and distributed among depositOrs
who were making a run on a bank
there with the enaC 1f checking the
run
Before the business day of the
treasury had ended many applications
arrived for the new arliicatos of iu-
8 htedness The fiscal uses TO when
these certificates m@y be PIT viii
make the demand Tor them very gem
eral according Oh the opinion of eX-
ports IN the department They may
be registered i'm the treasury and par
lake uf tho nature of a government
Eold, and as such be deposited as
security for national bank circulation
d. a
is predicted they viii circulate freely
MS currency The interest ON q $50
certificate win amount To- 12a cents
"a month, and q holder may easily OBJ
tain credit for the amount of mteres,
ne is untitled TO at his bank. Assur
anee was given today that the gold
reserve of the government was behind
these certificates, and this fact, added
To their interest bearing feature. will
make them eagerly sought
The hint contained I'm the PTcsi-
dents letter that financial relief legis-
lat.on was assured. resulted I'm many
inquiries during the day 90 deyelope
the exact situation. It Is admitted
the President has consulted freely
lwith the leaders of both houses of
con gres5. by mail and iu person, but
| jyst what Is the present status of the
| Legislative plans is Withheld One
point of uuanlmity lis certain Every
senator and member OF the house of
representatives who has called at the
| White House during the financial dis
tress has been free to say that fnan-
cial legislation would be the first busi-
ness of the next session of congress
Beyond this point the unanimlty ha
ceased and many men have proposed
plaus.
AS indicative of the state of mind
! in congress it may be stated that i'm
a gathering of six Republican seua-
tors. Messrs. Foraker Lodge, Warren.
Scott. Bulkely and Warner all of
ltEcm expressed the decided opinion
chat some duan ial legislation is
necessary and will be enacted during
the approaching session of congress,
but there was much variance of opin-
ion as 10 what could or should be
done 10 Democratic senators were
present. and consequently there WAS
luo opportunity OF securing the Demo
cratic view at that time. In the house
There is a disposition to demand that
the luanciers reach an agreement be-
| fore asking congress 10 act The
general impression there. is i'm the
Isenate as that there should be legisla
ton but more is made of the diff
Iculty of arriving at an agreement as
90 the form &c will take,
The design for the new certificates
Ihaye already been agreed upon, and
| director Sullivan of the. Bureau of
| Engraving and Printing has been in-
Isuucted to proceed with the work.
iThey win be of She same dimensions
as other currency. and I'm appearance
Twin closely resemble O. $50 silver GER
luGcate on the leH of the face will
Doe a vignette of Alexander Hamilton
and ON the top of the back in large
lletters win appear the words "Certih
lcate of lndebteduess.' The date of
1.-The act authorizing their issue viii De
lgyen together with their date of in-
lterast and the date ol retirement one
year hucc.
The Panama canal bonds have been
lprinted and win be ready for issue as
soon as bids are accepted after No
yemher 80 1907
Applications for the new certif.
Gates cached the treasury Ina consid
cradle numbers this afternoon, but no
allotment has yet been made.
Senator Reuben M Roddie of ada
j has engaged quarters here for the
winter at the ROYAL and is busy pre-
pairing bills for the coming session
of the legilature which conyenes
here December 2,