Albuquerque citizen. [volume] (Albuquerque, N.M.) 1907-1909, 1907-11-18
That Is the Opinion of Men,
berS Who Are In Washing
ton Concerning FIndn.
Cidl Question.
REPUBLICANS AGREE
WITH ADMINISTRATION
Not Believed That Democrats VIII
Attempt to Break the Measure
Treasury officials Agree
With Secretary Cortel-
y0u'S Ideas.

Washington, ID. c., Nov Is
There are so few members of either
house of congress who deal directly
with financial legislation I'm the city
that 1t Is impossible to make a def
mite predictions as to what course the
financial legislation will take at the
approaching session.
All here, however, agree that con-
ditions are such that something must
be done, and the preponderance of
opinion favors the view that relief
legislation Will be more prompt than
has heretofore been predicted.
There are various opinions as to
the course that should be taken, some
favoring one system of bank assets
for basis of credit upon which
bar ks may issue currency, and some
another system.
Relief VIII Be Quick.
The general idea seems. however.
that the margin of fiexibility should
not extend beyond 25 per cent OF
the banks capital and In any event
an enlarged issue should be 50 heav-
lily taxed as to drive II back after an
emergency has passed.
One reason for believing there win
be little difficulty in reaching agree
ment on some basis is found In the
fact that the so-cailed conservative
cement of the republican party IL
In complete accord with the admin
istration In the opinion that some
form of relief is absolutely neces-
sary.
At the same time II is not expected
that anything will be accomplished
without much discussion, especially
IN the senae. where there is an rm-
limited debate and many opinions as
to what should be done.
Democrats May Not Object.
1t is not believed that the demo-
Gratis Will offer any stubborn oppo-
sition but will content themselves In
stating their position and throwing
the responsibility on the repubIi-
cans.
That the action of the administra-
tion, coming so vigorously for the
relief of the financial situation, will
be more ample in the direction desir-
ed, was the universal comment OF
callers at the White House today.
Exactly What Was Needed
Senator Warren. of Wyoming, said
that the action taken was exactly
what was needed.
THE people at large will now real
| ize that there was no cause for the
panic and will stop boarding their
turn to the banks their deposits and
| the business OF the country will re-
turn to normal condition.
Business is already improving.
| Now II Will go right ahead"
Cortelyou's Plan o. X
The treasury officials and others
| most conversant with the national
| finances and currency conditions
/ throughout the counry are almost a
ubit in the opinion that Secretary
| CortelyOu's announcement that he
would issue 500, 900, 600 in treasury
ce. tihcates and $50, 600. 900 I'm Pana-
ma bonds is a complete solution of
| the present money problem. TeIe-
grams from leading financiers in the
great money centers of the country
indicate that this view is general
! Bid for Certificates.
| New York, Nov. 1S.-A nominal
bid of 101 for government certif-
| Gates Of Indebtedness which are to be
issued to relieve the present financial