The Owosso times. (Owosso, Mich.) 1897-1926, 1907-12-27

that don't care what ex-judges OF
judges or ex-governors or governors
say about it." Mayor Dahlman says
that as this was spoken in the pres
ence of eight or ten other persons as
message to the west he felt free to
give it out
Ridcely's Central Sank Plan.
Comptroller of the Currency Ridgely
in making EiS report for the year end
ed Oct. 81 pleads for the esta blishment
of national central bank of issue and
reserve somewhat on the lines of the
Bank OF France. with such other mod
ifieations of our system as will give
greater elasticity. The fault of the
present system, in his opinion, is that
In times of emergency the funds de-
posted in the reserve and central re-
serve cities are not always surely
available A central bank with power
to issue notes against credits would,
he thinks, obviate that difficulty. He
would have the bank controlled by the
government and the majority of shares
owned by the other banks in proper
ton to their capital, directors to be
chosen In the proportion of two-thirds
by shareholders and one-third by the
government, and the profits above 3
or per cent to go to the government.
He would not allow the bank to do
a general commercial business, but
would confine 1t to the finances Of the
government.
The comptroller also urges that the
limit on the monthly retirement of cur
rency be removed. Speaking Of the
panic, he says it was worse among
the banks than among the people and
that 1t was caused directly by the
boarding of banks. Action by congress,
If any, should be taken soon.
CorteIyou Denies II All.
The reports of delegate hunting for
the Republican nomination on the third
term sentiment finally became so per-
sistent that Secretary Cortelyou issued
a formal denial, Dec. IL, saying that
he has not been a candidate "for any
thing but the confidence Of the people
In the discharge Of his duties" and that
neither he nor his friends directly or
indirectly have tried to secure political
support for any candidate nor sought
to influence movements In his interest.
II in future he decides to be a candi-
date for any Office, he says, he will be
prepared to say so and to give the
grounds on which he asks for support
This statement is generally taken to
mean the collapse of the Cortelyou
boom.
Aldermen Defy Governor.
The aldermen of the borough of
Manhattan, New York city, virtually
rebuked Governor Hughes and also
Mayor Mcclellan by re-electing John
F. Ahearn as president of the borough,
an Office from which he had been re-
moved few days before by Governor
Hughes. The vote was "A to II. The
ruling of the mayor that Ahearn was
ineligible for reelection was overrid-
den by an equally emphatic vote.
Minority on the Aggressive.
Leader Culberson of the senate mi
nority followed up the attack on the
financial measures Of the administra
ton begun by Tillman with his de-
mand for a complete investigation of
the whole financial system. Aldrich.
on the other hand, speaking for the
majority, opposed such wide inquiry
and insisted On keeping it down to the
specific measures taken during the re-
cent panic. In reply Aldrich gave no.
tice that after the holidays he would |
be prepared to submit the majority's |
remedy. In the course of his re-
marks Culberson called President |
Roosevelt "a menace to the public in |
terests of the country" Tillman want |
ed to know why the president had not |
turned on the handouts as well as the |
light. He compared the clearing house |
certificates to the Confederate "shin-
plasters."