Daily press. [volume] (Newport News, Va.) 1896-current, 1907-11-26
CURRENCY RELIEF IS IN SIGHT
Believed That Cash Payments win
Soon eeMadc in All of the Larger
citics-secrctary corteIyou Plan.
ming Out the AlIotm-'.s CT tie New
Certificates.
tDy Associated pressl

NNoili!Nu YIN, ~. u, Nov. pa
more confident tone in regard to the
success of the new loans prevailed
ut the treasury department today
tlian at any time since the announce
ment of the loans a week ago. The visit
OF Mr.. Morgan on Friday and Sntur.
uay Were followed today ny. a visit
from MIR. James Is. Fcrsan. president
OF. the First National Bank Of Chi
cago Mr., Fergan saw the President
Secretary Cortelyou and Treasurer
treat and expressed his belief that
Drinks throughout the country would
soon be In position to resume cash
payments. The subject OF peculiar in.
tcrest TO the Treasury officials be-
cause Tor nearly n month government
receipts nave been declining as a
direct result of the scarcity of cur.
rchcN. Distilers, brewers and other
VINO are required 10 purchase inter.
national revenue stamps have not
pcen able TO secure currency in suni.
cient quantities from the banks with
winch 10 purchase these STAMPS. and
ms tho collectors are not allowed I'M.
der the law to receive certified checks
or ANYTHING but lawful money. except
at their personal risk. the result has
been that even sufficient amount OF
stamps to cover immediate needs has
been difficult to obtain,
The government Is insisting that
depository banks shall soon as posi-
, Ice meet the demands for currency
III this respect. Thnre seems to be
= general desire among the bankrs
in New York. Chicago and other sub.
treasury cities and financial cente-s.
TO resume currency payments at the
earliest possible momint and Mr.. Fer.
CAMS visit was madelwith n view of
learning the views of NE treasury Off
Gals on this particula. subject.
Mr.. Fergan represented that tho
Chicago banks would be able to re.
f'me upcn an understanding with
The banks in other cities within the
next week or ten DAYS at the latest.
Currency Payments Soon.
1t is believed among the treasury
officials that complete understand
ing will be arrived tbetween the
banks in New York PHILADELPHIA. Dos.
ton. Baltimore. Cincinnati. Chicago.
ST. Louis, New Orleans and San Fran
cisco by which there will be n general
resumption of currency payments
possibly before the close of the pres
ent week. New York and Chicago
a:c making daily shipments OF large
sums 10 the crop moving centers of
tho West and South, and 1t Is con.
fi1"n,ly believed that these shipments
VIII be continued in increasing
amounts until normal conditions are
again reached. In addition to the dis
aasS. ION, Oh casn resumption Sir. Fer.
in substan,ia, srh uu,sn ~ ms 10, s,1.
Chioago cioar;na hnr.o ,,a,,,,n sa e .
50O ono of tho VOW orn 90 oartin
catcs Addit'n,.,, onn,,r,s ~ .hnnn
certificates are stnoG;,,. con,,n, - III tbe
treosnrx a.. eon,,,;.r eon hn,,,. ,nto
circn,at,on
Thnsn ron,sso,,, ,,,o.. ,
bv Scc,c,ar, Cn,.,, a.'s ~, ny ~
middle of last week. since scye. n,
days arc required to complete the
circnit OF the allotments. adyicrs TO
the banks end their return to The
treasury as security for circulation
are rcniIircJ IN la ,aci.torod ;neto,d