Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-11-24
Accepted That Leaders Will Coop
crate With the Treasury.
NEW TREASURY CERTIFICATES
Corner Has Been Turned and Banks
Will Soon Resume Currency Pay
ments Without Restriction.

Mr.. ]. Pierpont Morgan had a short
conference with Secretary Cortelyou yes
terday afternoon just before o'clock
and at Its conclusion left for New York.
Nothing was disclosed in regard to the
object of his visit and 1t did not last more
than fifteen minutes. Mr.. Morgan seemed
to be in the best of spirits and his walk
was as sprightly as that of boy He
Hotel most of the morning and received
only few callers. Postmas aster General
Meyer called late in the forenoon with his
automobile and Mr.. Morgan left the hotel
for time with him. His associate, Presi-
dent Baker of the First National Bank,
was at the Treasury in the morning and
had conference with Secretary Cortel-
you. ~
A feeling of confidence in the success
Of the new loans seemed to prevail at the
Treasury yesterday and was apparently
heightened by the assurance given by Mr..
Morgan of the improvement in the situa
ton in New York. The strong rally In
the stock market and loss of less than
half a million in the required reserves of
the New York banks strengthened the
feeling that confidence was returning and
that it would be reflected in the offers for
the new securities received during the
coming week.
Will Cooperate With the Treasury.
The visit of Mr.. Morgan was generally
accepted among bankers here as evidence
that the financial leaders in New York
intend to cooperate with the Treasury
Department in making a success of the
new loans. Mr.. Morgan's views and ad-
vice have commanded much attention
because of his detachment in large
measure from recent speculative banking
enterprises in New York and the breadth
of view which his friends declare he has
always brought to conditions like the
present. 1t is known that his influence
was great in saving the trust company
situation in New York when 1t was ex-
ceedingly critical three weeks ago as the
result of lack of cooperation among the
trust companies Mr.. Morgan has long
favored some modification of the existing
currency system, but has not, SO far as
his friends are informed, undertaken to
prepare any detailed plan Of his own. He
found Secretary Cortelyou in agreement
with him, that several steps should be
taken to give greater elasticity to circu-
lation and to restore confidence, but did
not insist strongly upon any one of the
several mea sures which are now the sub
iect of popular discussion.
The assurances brought by Mr. Morgan
in regard to the improvement in contii-
tions in New-York, with the subscriptions
which are still coming in for the new
loans encourage the belief here that the
corner has been turned in the monetary
situation and that the banks throughout
the country will soon be able to resume
currency payments without restriction.
The enormous amount of gold which has
arrived or been engaged Is felt to be
rather more than sufficient to restore the
New York bank reserves to a point of
safety, and 1t is believed that after the
opening of the bids for the Panama bonds
the situation will be such that further gold
imports will not be required.
New Treasury Certificates.
The new Treasury certificates Of tndebt-