The Londonderry sifter. (South Londonderry, Vt.) 1883-19??, 1907-09-19
Washington Letter.


view to renting proper accommooa-
lions for the coming season, Tor oc-
tober l is the renting PERIOD III
Washington and the best bargains
in houses and apartments are to De
picked up this month. Those VINO
come later and rent for the season
only, will have the privilege of pay
ing fancy prices Rents are high at
best and it is difficult for senator
or representative to find domlclle
suitable for entertaining for less
than 1000 year The new salary
law for senators and representatives
went into effect on March 4 SO that
they all have $4,000 more year to
spend than heretofore, the uniform
salaries of the members of both
hou es being now $500, with an
extra 81 500 for the vice president
aud the sp. aker. Cabinet officers
are also enjoying their increase to
$4,000 and several of them have
chosen new and more expensive
homes.
Among those who have come to
Washington during, the past week
have been Representatives Dazell
and Payne, the latter leader of the
Republicans on the floor of the
House, the former member of the
all-powerful rules committee. Mr.
Dazell has expressed the opinion
that the Philippine tariff bill will
play an important part in the COM
ing session and has, in fact, intimat
ed that it will constitute the only
important legislation, aside from the
regular appropriation bills. Mr..
Payne is also of the opinion that
there will not be much important
Legislation and that most of the time
of the House will be spent by the
Democrats in wordy tfforts to elect
William J Bryan president
Senator Guggenheim of Colorado,
reputed to be the richest man in his
state, has be en- here and pre- diets
hard times, financial stringency,
etc. But Sec .et;ry Wilson is dis
posed to take lit lie It ok in the
predictions of the veal, by men who
can see nothing rosy in situation
in which their STOCKS and Londs
have depreciated in value. Mr..
Wilson asserts that he has received
communications from number of
his friends among the western bank
ers saying that they have large sums
of money to loan and that they are
receiving gratifying offers from the
east for the u ,f their surplus
funds at good interest on excellent
security. Six to seven per cent is
offered, according to the secretary,
and in some instances it is payable
in advance. s'They are beginning
to appreciate that if they want mon
ely they must go to the men who
produce the most of it, the farmers,
said the Secretary today. s'Last
year the farm products of the coun-
try were worth Sc, 100000. This
year they will be worth from $780,
600 to 81 100000 more. / have
often told capitalists that if they
would make their railroad securities
as safe as government bonds they
would have no trouble in borrow ing
money. The recent exposures of
the methods of juggling with rail
road securities and all .ka.t sort of
thing have made people cautious
about where they lend their money,
but the man who takes proper pre-
cautions about the character of his
securities will experience no trouble
borrowing The Secretary ex-
poets a bumper, cotton crop with
great prosperity in the south as a
result, and he does not see how there
can come hard times or a panic
when the country is producing such
tremendous funds of natural wealth
1t is interesting to note
that the Secretary's views with re-
gard to the character of securities |
accords perfectly with the Presi-
dents belief that the government
should supervise the issue of rail-
road securities and thus protect the
investor from fraud. It is
also significant that tnat farseeing.
+ undesirable" citizen, E II. Har-
imam, takes the same view of the
financial situation as Mr.. Wilson.
Mr.. Hartman declares that this
country has its panic 'sbehind it.
Secretary Taft has completed his
rip across the continent and sailed
OF Manila which he will reach aft
r all in time to open the Philip
inc Congress He will spend near
y month in the islands and then
Q save time will return by the way