Catoctin clarion. [volume] (Mechanicstown, Md.) 1871-1940, 1907-09-26
THURSDAY. SEPTEMBER 26, 1907
WASHINGTON LETTER.

COmpIrOllcr VI tlle llVaeuly A"6
ley who has just returned from trip
through the west has had something
to say on the general money and trade
conditions of the country. He made
it his business in addition to investi-
eating bank conditions to sec what
the business outlook was. Mr.. Ridg-
ley says that there is no question but
that the country has just passed
through a serious financial crisis.
Money is still tight, but this is true
more with respect to time loans than
to call money. There has been an
immense movement of farm products,
grain and tobacco and there would
have been more but for car shortage.
This is significant. The rich mans
panic" in New York hurt stock prices,
but it did not materially hurt either
the credit of the big fnancicrs or re-
strict the amount Of money that they
have for disposal. But it suits their
book just now to put the worst posi-
BILE face on financial affairs. They
have purposely restricted time loans
which are for the most part legitimate
loans, but they have the money and
they want to keep it working and are
not averse to letting it out on call.
The car shortage is another part of
the business depression scare. There
is no reason with the summer season
Just over why there should be either
a shortage of cars or congestion OF
freight. 1t is an artificial condition
and one of the avenues through which
the Wall Street powers can work if
they will for political effect. As to
the real business Of production both
in the field and the factory, Mr..
Ridgley found it good. The country
is too great a producer to be hamper
ed unless the brakes are put down
very hard. The country in the past
month exported about five and a
quarter million bushels of wheat and
corn, which was fifth of the world S
trade in these cereals, Altogether
the outlook is not bad.
After all the fuss that has been
made over frustrating, government
prosecution, rebate fines and the like,
it is a little discouraging to find that
the rebate is working as mcrrily as
ever and in a way that is very diff
cult either to detect or prevent. Com
plant has been made unofficially to
the Interstate Commerce Commission
by number of Independent shippers
who are afraid to let their names be
known, that many of the railroads
are paying rebates to the big shippers
just as formerly under the guisc of
damage claims, demurrage and SINH
lar charges. 1t is of course matter
of indifference to the big shipper what
the railroad calls the money it pays
him just so he gets it. And when
this amount is charged to delayed
shipments, car demurrage and dam
age claims, it is very hard to prove
that they were not legitimate charges.
The only difference is that these
claims are settled promptly and quiet
ly with the big shippers while the lit
tie fellows have to 60 to law to get
satisfaction, and they get more law
than satisfaction then.
President Roosevelt will 60 south
for a bear hunt in the cane brakes of
Mississippi at the end of his trip down
the big river with the inland Water
ways Commission. The hunt has
been arranged by Civil Service Com
missioner McIlhenny and some other
gentlemen and great preparations are
being made for the event. 1t is said
that the President is looking forward
to it with more satisfaction than to
all the rest of his outing combined.
Secretary Loeb has issued an official
statement denying the report that any
tame bears are to be turned loose in
the brakes or that handled bob cats
will be used as stage accessories.
Gen. Barry of the Army of Occu-
patton in Cuba has submitted his an
nual report on the Cuban situation
and recommends number of changes
in the organization Of the army, the,
term of enlistment and the pay of en-
listed men and commissioned
officers. One of the strong recon-
mendations that he makes is for the
re-establishment of the army cantecn
in Cuba, saying that it is almost cs-
scntial for the comfort and well being
of soldiers in the Cuban service.