Middletown transcript., 1907-10-26
WASHINGTON LETTER

4 8
WASHINGTON, d. c., October 10th, 1907.
aIfHAT is regarded in Washington as the
W finest bargain offered to New York
bankers III recent years will be brought
by Senior Federico Yelasquez. Minister
of Finance for Santo Domingo, who has
sailed for New York to float the long
pending Dominican loan of $40, ,000, 900,
which ie to be secured by bond issue
bearing five per cent. interest, practically
guaranteed by the United States govern
ssent, and, aside from the fact that they
@ill be subject to taxation and that they
cannot he deposited by national banks as
security ior government deposit or for cir
culation, are pronounced by the few f.
nancers who have investigated the subject
as good as United States bonds. Officers
OF the United States government will con.
tinue to collect the Dominican customs
under the terms OF the treaty ratified last
session, and will pay into the hands of
the trustees, who will pay the interest and
accumulate the sinking fund, 81, 200, 600,
year; the remainder of the custom re.
celpts, after the cost of collection shall
have been deducted, to be covered into
the Dominican treasury. The bonds
must be sold at 90. will run for forty years
and bear interest at 5 per cent, and may
be redeemed at the end Of ten years at
1921. $500. 900 is already deposited to-
ward the sinking fund, in the National
City Bank, of New York, drawing inter-
est at 21 per cent. The control of the
customs houses in Santo Domingo by the
United States has prevented all rsyolu-
tions. as was predicted BY the late Sec-
retary Hay, as the customs receipts con-
stituted the only incentive to revolu-
tion. and thus the permanent tranquility
of the Dominican Government is insured.
Tie loan about to be foated will pay off
all foreign creditors. obviating all danger
OF interference from other governments.
~
On the completion OF the new Office
building for members of the House of
Representatives, an electric railway will
be installed connecting the lobby of the
new building with the House and SINH
lar tramway will connect the new Senate
Office building with the Senate. 1t is now
that still further passenger SER
vice be established by the construction of
q line which will connect these two links
and thus facilitate passage between the
House and the Senate, and every one who |
has had to walk the nearly seven hundred
feet between the two chambers, several |
times in day, will appreciate the desira-
bility Of such line. 1t is claimed that |
with an electric railway travelling centin-
nously from the House to the Senate of
Zee buildings and stopping under the re-
.pectiye chambers, the greatest saving Of |
lime and effort would be accomplished.
-
The agitation against the destruction Of
he historic Crittenden oak and other
,rees in the Botanic Gardens has been so
yreat that Gen. Oliver, Acting Secretary
II War, has cabled Secretary Taft in the
Philippines for authority to act in the
natter. Gen. Oliver, who is member
If the Grant Memorial Commission, tele-
sraphed to Gen. Dodge, chairman of the !
to come to Washington to
consider the matter, but Gen. Dodge re-
,lied that he could not leave bis home at
his time; hence the bable to Secretary
Taft, who is also member of the COM
mission and ex-office chairman. Gen.
oliver believes that the commission is the
'nly body which has authority to act in
he matter but does not care to assume the
ole responsibility by taking action with
'ut first hearing from some other member
4 the commission.
*.*
A very clever dispatch published re-
emily in New York paper, has been the
anse of no little excitement in admins
ration circles, where it is felt that the
reedom of the press has transgressed all
atriotism and even decency in this case.
he dispatch is so diabolically worded
hat no statement is susceptible of fiat
enial, and in it the President is made to
ppear to seek to menace Japan in order
ng the battleship feet to the Pacific
cast. The dispatch goes to the length of
implying that President Roosevelt will
blow isstep by precipitating hostilities
etween the two countries. Il is super
nous to say thai the paper which carries
bis tale is antagonistic to Mr.. Roosevelt
nd his progressive policies and seeks in
bis way to mislead its readers and to in
IRE the President. The fact that the
ewspaper itself is far too intelligent to
elieve the nonsense it seeks to palm off i
o its readers as fact, renders such an'act /,
II the more culpable in its audacity and {
as excited no little comment in official i
rcles. Il
~ I
A scheme which contemplates the re-