Gloucester County Democrat. (Woodbury, N.J.) 1878-1932, 1907-12-26

that / don't care what ex-judges or
judges or ex-governors or governors
say about it, Mayor Dahlman says
that as this was spoken in the pres
ence of eight or ten other persons as
a message to the west he felt free tQ
give it out.
Ridgely's Central Bank Plan.
Comptroller of the Currency RidgeIy
In making his report for the year end
ed Oct 81 pleads for the establishment
Of national central bank Of issue and
reserve somewhat on the lines Of the
Bank Of France. with such other mod
ifications of our system as viii give
greater elasticity. The fault of the
present system, in his opinion, is that
in times of emergency the funds de-
posted in the reserve and central re-
serve cities are not always surely
available. A central bank with power
to issue notes against credits would,
he thinks, obyiate that difficulty. He
would have the bank controlled by the
government and the majority of shares
owned by the other banks in proper
ton to their capital, directors to be
chosen in the proportion of two-thirds
by shareholders and one-third by the
government, and the profits above 8
or A per cent to go to the government
He would not allow the bank to do
a general commercial business, but
would eonfine it to the finances Of the
government
The comptroller also urges that the
limit on the monthly retirement of cur
rency be removed. Speaking of the
panic, he says it was worse among
the banks than among the people and
that it was caused directly by the
boarding Of banks Action by congress,
if any, should be taken soon.
CorteIyou Denies 1t All.
The reports of delegate hunting for
the Republican nomination on the third
term sentiment finally became so per
sistent that Secretary Cortelyou issued
a formal denial, Dec. II, saying that
he has not been candidate "for any
thing but the confidence Of the people
in the discharge of his duties" and that
neither he nor his friends directly or
indirectly have tried to secure political
support for any candidate nor sought
to influence movements in his interest.
If In future he decides to be candi-
date for any office, he says, he will be
prepared to say so and to give the
grounds on which he asks for support
This statement is generally taken to
mean the collapse of the Cortelyou
BOOM
Aldermen Defy Governor.
The aldermen of the borough Of
Manhattan, New York city, virtually
rebuked Governor Hughes and also
Mayor Mcclellan by re-electing John
f. Ahearn as president of the borough.
an office from which he had been re-
moved a few days before by Governor
Hughes. The vote was "a to II. The
ruling of the mayor that Ahearn was
ineligible for reelection was oyerrid-
den by an equally emphatic vote.
Minority on the Aggressive.
Leader Culberson of the senate mi
nority followed up the attack on the
financial measures of the administra-
ton begun by Tillman with his de-
mand for a complete investigation of
the whole financial system. Aldrich,
on the other hand. speaking for the
majority, opposed such wide inquiry
and insisted on keeping it down to the
specific measures taken during the re-
cent panic In reply Aldrich gave no
tice that after the holidays he would
be prepared to submit the majority's
remedy. In the course of his re
marks Culberson called President
Roosevelt "a menace to the public in
terests of the country" Tillman want
ed to know why the president had not
turned on the handouts as well as the
light He compared the clearing house
certificates to the Confederate shin
plasters."