The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1907-12-03
ON RIGHT TRACK.
Congressman Anthony After
the Express Companies.
Why the Big Mail Order Houses
Flourish.
HAVE AN INSIDE RATE.
HAVE AN INSIDE RATE,
Enabled by This Means to Com
pete With Home Merchants.
Interstate Commerce Commits
sion May Take Up Question.

express companies with a big stick, ant
| thinks he has discovered reason fol
advocating the parcels post.
Mr.. Anthony has come INTO 1n1orma'
| ton that leads him to believe the DIE
| express companies are making reduced
rates to the big department houses IN
large cities, thereby rendering 1t posi-
| BILE for them TO lay down stun at SINAI
towns in competition not only with tne
| country and, home merchants, but II
competition with county seats VINO
would have to pay on delivered mer-
chandise a high rate, either express OF
postal. a s,sre.
So Impressed with his discovery is
Mr.. Anthony that he has taken the
matter up with the postmaster general
Mr. Meyer, who Is the leading advocate
| in the country of the parcels post he
| thinks the information may De useIul
to Mr. Meyer in his campaign for a
parcels post, in that 1T will add to that
officials contention, and to the conten-
tion of all advocates Of the parcels post.
| that the express companies are getting
more than their share OF the carrying
trade, and deriving too much revenue
therefrom. Just how Mr.. Meyer will
use the information in his campaign,
beyond showing the methods of the ex-
press companies, Is not yet developed,
for it would be hard, thinks Mr.. An
thony, to get a practicable parcels post
rate that would meet such low express
special rates.
But on second thought Mr.. Anthony
feels that the interstate commerce com.
mission may have something to say or
the matter. BY the terms of the Hep
burn amendment to the interstate COM
merce act-the sO-called Hepburn rate
law-expreSS companies are placed I'M
der the supervision OF the interstate
commerce commission. II 1t Is fact
that the express companies are doing
what Mr.. Anthony has information
they are, then it is clearly a case for
the interstate commerce commission
the new First district representative
thinks and he intends to see about 1t
without delay. OF course this would
involve the presentation Of formal
complaint.
It may be that the big representative
from the First has struck line early
in his congressional career that
may work out something of vast de-
velopment. s
Representative Campbell is receiv-
country on his bill for the solving of
the financial condition, and from New
York city he hears that a propaganda
will be invoked to make a campaign
for the adoption of his scheme. He
also has word OF this kind from New
Orleans bankers.
As told heretofore in these columns,
Mr. Campbel1's plan consists of
guaranteed deposit and elasticity Of
currency in time of need. He would
have something like the plan sug-
gested by B. P Waggener; that is. a
tax of one-tenth of one per cent on
national bank capital, with the gov
eminent naming a director for each
national bank, who would be also ex-
aminer making weekly report to the
treasury department.
AS to the general scheme for furth-
airing elasticity of currency, Mr.. Camp
bell would have bank notes issued in
time of need based on capital and sur
plus. Where the added circulation
was issued within SO per cent of the
capital and surplus of a bank. Ny.
Campbell would have tax of as high
as u per cent, If the security is gov
eminent bonds; if other approved
would of course make the issuance of
additional currency undesirable ex-
cept in time of need.
Washington, Dec. 3.-When Repre-
sentative Miller presented Represent
alive Anthony to the president, the
latter asked Immediately concerning
the Leavenworth mans ideas on cur
rency The latter told him he thought
the present national banking act gooo
enough, with some further provision
for such times as the past few weeks,
which seemed to strike the president
favorably. The president incident
ally remarked that he was receiving
more advice and complaint concerning
from Kansas than from any
other state, and commented on the
general interest CneT0 Se6IncQ III the
state upon the subject.
Like his fellow members. Mr.. An
thony Is studying the financial sttua-
ton and the various suggested meth
DDS for correction of conditions.
The national banks of Kansas have
been responding in very encouraging
manner to the invitation of the treas
ury department for subscriptions to the
issue of $4,000 treasury certificates.
1t is not the custom of the treasury
department to disclose the names of
banks who subscribe for these certfh-
Gates, nor the amounts OF individual
bank deposits, but Senator Long has
been busy for the past week acting as
an intermediary between the Kansas
banks and the department.
The banks taking up the certificates
are mainly those who wish to increase
having on hand other
bonds and securities which may be
used to guarantee deposits OF the gov |
For instance, Kansas bank |
to 100000 OF the new cert1n-
allowed to retain tfree-fourths Of this
amount as a temporary government de-
oosit. The remaining one-rourth must
De paid into the subtreasury OF the
United States Then, If the bank wishes
o take out additional circulation, and
many Kansas banks do, they deposit
With the government sucn gilt-edged
ponds, municipal, and otherWlse, as are
n the security of temporary govern
nent deposits Thus the government is
on the, deposit.
The bank in question then takes out
additional circulation, unoer the law,
nd the treasury department retains
possession of the new certificates as a
Guarantee of the added circulation.
thus the bank that has on hand securt-
les municipal bonds or otherwise,
vhtcb the Government will take for Sc
:urity for the, temporary deposit, and
Which has subscribed for $780, of the
lew certificates, paying actually but