The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1907-11-23
MORGAN TOWHITE HOUSE
Important Conference Held
on Money Crisis
and Relief.

Washington, D. c., Nov ga most
important conference relating to the
currency situation and the means to be
taken for its immediate and permanent
relief occurred tonight at the White
house
J. Pierpont Morgan and George F.
Baker, president of the First National
bank of New York. came to Washing
ton this evening in compliance with an
invitation from the president
Prior to their call at the White house
the two fnanciers conferred with Sec
rotary Cortelyou. Then, in company
with Robert Bacon, assistant secretary
Of state, they visited the president.
The conferences Mr.. Morgan had both
with the president and Secretary Cor
telyou related in part to the distribu-
ton Of the per cent certificates of
Indebtedness and the disposition Of the
money which the government will de-
rive from the sale of these notes
1t Is Of the greatest Importance that
large sums be provided in the west
and south for the movement of crops
Mr.. Cortelyou today made an official
announcement as to the policy he in
tends to pursue to achieve this result.
Message One OF Topics.
But vast sums remain tied up in the
New York banks. and the administra
tion-and Mr.. Morgan as wells most
anxious to secure its return TO normal
channels of business
But beyond the present situation. Mr..
Morgan and Mr. Baker discussed with
the president the views the latter has
Incorporated in his message
! 1t is impossible tonight to learn
whether they were approved by the
| New York financiers. though there is
reason to believe that the means of re-
l.ef suggested by the president are not
Objectionable TO them.
The economic policies of the pres
ident generally were discussed, and so
far as is known the latter has no in
tention of inaugurating. at the pres
ent time, any further legal proceedings
against the combination which have
been investigated, but on the other
hand, he will do anything he can. with
propriety to restore business conf
dence.
Morgan Glad to See President
When Mr.. Morgan, Mr.. Baker, and
Mr.. Bacon left the White house they
were surrounded by newspaper CORE
spondents. to whom Mr.. Morgan said
over to Washington at the investiga-
ton of the president and that he was
glad to come and to pay his respects
He had just such a talk, he said, as he
had had with Secretary Cortelyou last
week and the week before. but re
fused to go into details as to the con
ference.
Mr.. Morgan added that there had, OF
course, been discussion of the means
OF relief which the government had un.
dertaken, of the distribution of cur
rency, and kindred matters.
The situation, he thought, was en-
coura ging, and the government meas
ures were doing a great deal Of good
Morgan Makes No Suggestion.
Mr. Morgan said he had a talk will
Secretary Corte1you before going to the
White house. Mr.. COrtelyou did no
take part in the conference between
the president and the New York fin
anciers.
In reply to a direct question, Mr.
Morgan said that he had not. him
SELF suggested to the president an!
plan of permanent relief for the none.
! situation through legislation.
Senator Lodge was in the Whit
: house part of the time the conference
was in progress, but it is not know
/ that he was present at the converse
ton between the president Mr.. Nor
gan. Mr.. Baker, and Mr. Bacon.