Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1907-12-31

them from brokers or from big specu-
latiVe institutions in the larger cities,
and would have to pay for them q
premium above their original cost price.
For this reason 1t is commended that the
smaller banks have ia The past been
unable to take out additional circulation
at a profit, even when conditions In
their immediate neighborhood we're such
SO to creste a demand for currency.
There is, therefore, il IN pointed out, a
decided need for some additional accept
able security, other than national, State,
or municipal bonds, which can be used
by country banks rs basis OF circu-
ton. High grade commercial paper
and first lien real estate mortgages are
believed to meet this necessity, and it is
understood that the bill now in course Of
preparation by the Senate leaders will
include authorization for the use Of
both OF these as acceptable security.
Efforts are beipg made to avoid sny
lengthy financial debate in Congress
when the proposed remedial measure is
introduced, on the grounds, first, that
the sub iect is not political one; and,
second, that sensational talk on the
subject might tend to alarm the people
and bring ! sck recurrence OF the con-
diiions from which the country is jus.
about recovering. With this subject in
view, the republican leaders have been
making overtures to whose on the dem
ocratic side and it is hoped that, by
meeting some of the views of the latter,
the bill finally decided upon may be
passed by the Senate without friction,
and with the least possible waste OF
time. The republican organization In
The House is expected to accept what
ever measure receives the approval Of
the majority in the Senate, and to push
il through, without any waste of time,
by the aid OF the machinery Of the COM
mittee on rules.
At the suggestion Of the United Press,
the Comptroller of the Currency has pre-
pared a New Years message to the
American people, dealing with the re-
cent panic and is probable effects. be
says. "The worst is past, but we have
long period of readjustment and recup-
Grafton before usI Values Of all kind
will have to be resrranged; We shall
have to 20 through period OF retrench-
ment and liquidstiop After we have
paid our debts and reduced our expenses,
the great resources Of the land will re-
vive our usiness, let US hope on q more
sound and enduring basis than ever
before"
A telegram from Gen. Funston at San
Francisco, regarding conditions at Gold
field, received today at the War Depart
ment, suggests that two companies OF
federal soldiers, recruited TO the full
strength OF 65 men each, will be sufii-
cient to cope with any situation likely to
arise. He says that the mere presence
of q detachment, however, small, would
serve to prevent trouble.
The first half of the governments
fiscal year, ended today shows that ex-
pendiiures have exceeded receipts by
| SO. 402, 43l. In the same period last
year, receipts we're over $25, 900, GOO in
Excess of expenditures. In the month
just closed, compared t. December of
last year, the customs have strunk over
Sc, 600, 900 and there has been a falling
of + several millions in internal reve-
nue.. Expenditures were 81, 600, 600
greater than last December.
President Roosevelt flashed cut the
old year today with Cabinet meeting
having returned last night from weeks
hunting at Pine Knot, Va. He had few
| eprRyenents through the day.