The Opelousas courier., 1907-11-30
REPUBLICANS REGARDED INCAPABLE.
President Writes Secretary of
Treasury Stating That Repub-
licans in Both Houses Would
Bring Up Subject of Financid,
Legislation-Other Items.

Indications that the Republican major-
tiles in both Houses of Congress will
prove themselves as incapable Of dealing
intelligently with the question of financial
legislation in the coming session as they
have for the past ten years continue to
multiply. In his public letter to Secre-
tary Gortelyou, the President said be had
assurance that the leaders of Congress
were considering measure of this char
acter and that he expected legislation at
an early date. When asked later who
were the leaders to whom he referred, the
President could think of only two or
three wholly uninfuential Republican
senators, such as Beveridge, Bourne of
Oregon and Switzerland Of Utah. H
said, however, that he counted on the
support of Speaker Cannon. Now, the
Speaker has arrived in Washington and
says he has no plan under consideration,
and intimates that he does not expect
any early legislation. Of course, the
fact that Mr.. Cannon is a banker and a
man whose private fortune exceeds ST.
000, ,000 may in part account for his un-
willingness to take any step which might
curtail the profits of the bankers in times
of financial stringency. But from every
quarter comes the same information. No
one Of the leaders of Congress has even
considered financial legislation, and Mr..
Roosevelt appears to have been lulled
into a feeling of security by the assur-
ances of men whose influence ends with
the passage of few private pension bills.
It is interesting to note the extent to
which the belief is gaining ground, as
has already been intimated in these let
tiers. that the New York bankers and big
financiers have ben almost wholly re-
sponsible for the msney stringency in the
West The bankers loaned their funds
to Wall-street gamblers, and then when
they lost money, they cried stringency :,
tied up their reserves, loaned only small
amounts at exorbitant rates of interest,
and made the West whistle for its money.
Of course, Mr. Roosevelt did not appre-
ciate the game that was being worked.
He says himself, quite frankly, that he
knows nothing Of finance It is probable
that. Mr.. Cortelyou knew nothing Of it,
either. The Secretary of the Treasury
has but one end in view, the promotion of
his own presidential ambitions His only
strength is with the Wall-street and the
banking interests. He has never had
business experience, and he is, Of course,
willing, if not an innocent, tool in the
hands of the men who rule "the street. =
Fortunately, however, advices have
reached the President from va rious Sec
tons which are beginning to outweigh
that of his Secretary of the Treasury, and
in the face of Secretary Cortelyou's pro-
tests, Mr.. Roosevelt is insisting that pro-
ceeds from the sale of thePanama bonds
and the Treasury certificates shall be dis
tributed in the West instead of being
poured into the botton1less New York
rat-hole. ss,
The Republicans are viewing the COM
ing session ofCongress with considerable
anxiety They are beginning to remem-
Der the bitter denunciation they poured
out upon the head of Democratic Pres
ident who issued bonds in time of peace
and they appreciate the difficulty they
will have in defending the course of Pres
I ident Roosevelt from the logic of their
own words. Nor will it be any excuse for
them to answer that no other course was
open because Of the weakness Of the fina n
cial laws, for Mr.. Bryan pointed out that
weakness nine years ago, and the Repub-
Iliczns, although in power in both Houses
Epf Congress. practically ever since, have
never had y ! eouraeeor the intelligence
Continued on page nve.