Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1907-11-04
President and Cabinet Conclude
Present Financial Situation
Does Not Warrant 1t
CONFERENCE TO BE CALLED.
President to Summon Some Of the
Controlling Spirits in the Industrial
World to Consider Measures to Meet
Observation-Disclosures Of Congress
Will Attend Conference.

Washington, Nov. 4.-There will be
no extra session Of congress to meet
any emergency OF present existence,
and 1t is not deemed within the bounds
gency will arise between now and the
time for the converting of congress IN
regular session, Dec. 2, to call for an
executive proclamation. There Is to
be formal cooperation between the
public officials and the leading bank
ers at once looking to conservative
action by the administration and by
congress in December.
The question of calling an extra
session, it was learned tonight, was
considered ut length at the meeting OF
the cabinet and, in the language OF
one Of the participants, was decided
adversely and emphatically." The
reason for the consideration Of the
question at all was the Offering OF
suggestions from various interests
that immediate action by congress
might afford relief to the contracted
supply of ready cash in the banks,
while the assembling of the laWmak-
ers, together with an end to suspense
regarding the recommendations to be
made by President Roosevelt regard
ing corporation legislation, might have
a great and happy effect upon the con-
fidence Of the people.
It was determined, however, that the
measures taken by the treasury de-
partment would meet temporarily the
needs for increased circulation, which
later can be met in permanent form
by legislation providing for a more
elastic currency to meet future emer-
gencies OF the character of the present
one. Beyond doubt measures to pro-
vide means for the elastic currency
that long have been demanded, but
which in time of tranquility nave
failed to get concert of action, will be
rushed on the statute books as soon
as consonant with careful considera-
ton after the opening of the regular
session.
President Roosevelt Is a conserva-
tive, regardless of all that his enemies
say about him. His radicalism, So
called, is the radicalism that demands
and obtains the contamination of
policies. Conservatism, ac-
cording to the lexicon of reactionary
interests, means to "let well enough
alone" and not disturb conditions by
which few monarchs Of finance have
been able to exploit the public all the
year round. They would gloss over
abuses great and small
The president is not that kind Of a
He realizes that there
are things requiring attention; things
demanded by the big financial interests
as we'll as by the people as whole.
But he is conservative CROUCH not to
get excited and issue a proclamation,
for instance, summoning congress to
rush to the rescue, when the regular
session Is less than a month distant
and when all matters of legislation can
be taken up in the regular time.
An extra session under these cir
it is declared, might I'M
sions invariably do when called to deal
WlLfl great NueSlIOnS II lHlSHl ne ull-
ferent IL the regular session were sew
eral months distant, and no means
were at hand to tide over the inter-
val.
An extra session would be spectacu-
lar but it would not hasten matters
enough to make 1t worth while. That
was the light in which the president
and his cabinet looked at the matter.
In lieu of any extra session of con-
gress, there are to be, however, in the
immediate future, some conferences
between the administration officials
and the big men of the financial world
looking to plans for legislation when
congress meets. 1t was stated by a
high official of the government that
the interests which would be most
affected by any action con-
gress might take at an extra session
were now less nervous than they were