The Washington herald., 1907-04-19
TALKS WITH BANKERS
COrtelyou Discusses Deposit
ing Customs Fund.
NO CHANGE IN HIS PROGRAMME
wiz Also Consult with Bank Om-
efaIs in Other Cfties-Treasury
Chief VIII Attempt TO simplify
system OF Customs Inspections at
New York for Foreign Travel.

New York, April 1S.-Secretary of the
Treasury George B. CortelyOu was at the
subtreasury for the first time since he
took office. From 2 o'clock until late in
the afternoon he conferred with bankers,
seeking an expression of views. princi-
pally on the manner Of handling receipts
from customs. Among his callers were
J. p Morgan. jr., James Speer. F. A.
VANDERBILT John L Waterbury, ". Emlen
Roosevelt, F. Z. Marshall, and Harry
Goldman. Tomorrow the Secretary will
hold further conferences with bankers.
In the deposit Of customs receipts
in the banks there has generally been no
change in the Secretary's policy, as an
nounced a month ago. Recently no large
deposits have ben made, for the reason
that the government intends TO redeem
many of the short Is, and the Secretary
sees no wisdom in placing in the banks
money that must soon be called in. lie
has reached no decision on the matter
of Withdrawing money from the banks
now that the money market has eased
greatly, and he will not come 10 a con-
clusion as to the extent of future depos-
its of customs moneys until he has con
suited with bankers and merchants IN
other cities.
Bonds Are Being Exchanged.
The Secretary is very much pleased
with the extent Of the refunding OF short
Is under his offer of month ago. Out
Of the $50 0o0. COO bonds which he offered to
refund SS50Oo0oO had been exchanged for
IS prior to his departure from Washing
ton on Wednesday. The matter OF new
issue OF Panama bonds will not be taken
up until the work of redeeming and re-
funding the IS is well out of the way.
Secretary Cortelyou did not get around
to the custom house to-day TO confer
with Collector Stranahan and the other
officials there. He intends to spend nearly
all day tomorrow in taking up the
matter of changes in the regulations
covering the handling Of the baggage Of
incoming steamship passengers and get
ting their declarations.
There has been no change In these rules
for years, though complaints have poured
in upon the officials from passengers who
were indignant at the delay and annoy
anee to which they were subjected. Mr..
CortelyOu has been through the mill him
self, and made up his mind some time
ago 10 see if a remedy couldn't be found.
II was learned to-day that while no
definite plan has been settled upon, Mr..
Cortelyou is of the opinion that by the
time the summer months arrive a radical
change can be made, and that no legisla-
ton will be required for this.
Work Can BE SimpIiaed.
Mr. Cortelyou did not care to discuss
his plans to-day. at least until after he
had had talks with the customs officials.
A plan has been suggested whereby
declarations OF passengers might be made
on the pier and their baggage inspected
practically at the same time. Some Of
those who have looked into the matter
believe that with the proper system and
suitable accommodations provided by the
steamship companies. so that the baggage
need not be strung out all over a pier the
work could be very much expedited and
the annoyances greatly lessened.
By systematzing the work on the pier.
and combining it 10 a smaller area, free
from crowds, the belief is that both time
and trouble would be saved. Mr.. COrtei-
YOU IS very DESTROYS of consulting with
some Of the men who come in contact
with the passengers, and who are act
ually engaged in the work of inspecting
baggage and seeing that nothing dutiable
gets into this country. After he has seen
some OF these men some plan may be de-
eided upon