The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1907-12-09
He Wants Recent Operations of
the Treasury Investigated.
WAS MONEY NEEDED
For Which Mr.. CorteIyou Issued
Bonds and Certificates2
He Also Demands Light ON
Clearing House Certificates.

! Washington, Dec. e.-Senator Tillman
has introduced resolutions directing the
committee on finance to Investigate the
recent proceedings of the secretary of
| the treasury in connection with the
| financial crisis and also to make in
| quiry regarding clearing house certifi-
| Gates. The resolutions were presented
| in two series, the first dealing with the
operations of the treasury and the sec
ond with clearing house certificates,
both being divided into three sub-di-
visions.
The first of the resolutions directs
the committee on finance to investi-
gate and report to the senate as fol-
lows:
First, whether the issue of certificates
of indebtedness bearing per cent in
terest, bids for which were invited by
| the secretary of the treasury Novem-
ber IS, 1907, were for the purpose of
borrowing money "to meet public ex-
penditures,'' provided by section 80
of the act approved June Is, 1899, and
if not whether there is any warrant OF
law for the issue of said certificates.
Second whether the issue of $50, ,000, 900
of bonds of the Panama canal loan, bids
for which were called for by the secre-
tary of the treasury on November lS,
1907 was required to "defray the ex-
penditures on said canal, there being
at that time when both of these loans
were made, upwards of $200, 900 in the
treasury for current expenditures"
Third, whether any legislation was
necessary to protect the people and
business interests of the country from
the issue of unlawful money, If clearing
house certificates are such and to pre-
vent the illegal increase of the public
debt in time of peace
The second series of resolutions dl-
rects the finance committee ito 1nvest1-
gate and report to the senate as soon
as practicable on the following
points:
First, whether clearing house certih-
Gates with which the country Is now
flooded, have been issued under auth
ority of law or contrary to the same.
Second whether the issuing of such
certificates by an association of banks,
both state and national and the use OF
the same as money subjects such GER
tificates or notes to the tax of 10 per
cent provided in section 34l2, United
States revised statutes.
Third, whether it would be perm1s-
sible under the law as 1t Is for an as
sociation of banks, warehouses ana ele-
yators to issue certificates based on
cotton wheat and tobacco, stored IN
such warehouses and elevators, ana
fully insured, to be used as money In
marketing said crops in the same way
a clearing house certificates are now
used.
Bill to Hurry Courts.
washington, Dec. 9.-To so amend
the Interstate commerce law as to en-
able and require the federal courts to
recognize and apply the provisions or
violations is the object of bill In
troduced today by Representative
Sabeth Q1l.). The purpose as explained
by the author Of the bill is to obViate
long delays in the conduct of interstate
commerce cases by lack, or declared
lack of jurisdiction in the federal
courts.
The punishment provided is for the
first offense a fine of from $1,000 to So
600 or imprisonment for not more than
three months nor less than f1ve hours
and upon subsequent contlnuatlon polH
shall be imposed.
Only One Committee Named.
washington, Dec. 9.-With only one
com mittee appointed, that on banking
and currency, and with the assurance
of Speaker Cannon that no other com-
mittees would be announced until
brief session adjourned until Thurs |
day. Representatives Beede (Minn.),
Pollard (Neb.), Coudrey (Mo.) and |
Lands (Ind.) were sworn in.
Presidential Appointments.
Washington, Dec. 9.-The president |
today sent to the senate the following !
nominations:
Envoy extraordinary and minister
pIenipotentiary to Nicaragua and |
Costa Rica. William l.. Merry of Cali
fornia.
Interstate commerce commissioner.
Charles A. Prouty of Vermont:
Assistant attorney general, John O.
Thompson of Kansas.
Attorney general of Porto Rico,
Henry M. Hoyt of California.
Register of the land office at Van
couver, Wash, Hugh C. Phillips OF
Washington.
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