The Caucasian. (Shreveport, La.) 1900-192?, 1907-11-19
FOR FINANCIAL RELIEF.
Panama Canal Bonds and Ger
tificases to Be I.cu-l.
APPROVED BY PRESIDENT.
Secretary of the Treasury Cells Atten-
ton to the Fact That an investment
In These Securities Il Both Safe
and Profitable One.

Washington. Nov Secretary
Cortelyou has made the important an
nouncement that as a means Of afford
Ing relief to the financial situation
the treasury would issue $50. .tdo
certificates of Indebtedness. or SO
much thereof as may be necessary.
The certificates viii run for opc ycag.
and will bear ; per cent interest
The secretargs action in coming tn
the relief of tns finacial situation
meets with President Roosovs 1t S
hearty approval, The plan Is the out
come OF the several white house cen
ferences which have been held within
the past few days when the financial
situation was under consideration.
Secretary Cortalyou says chat the
Panama bonds will afford most sub
stantial relief. 80 the law provided
they may be used as basis for addi-
uonal bank Circ,lation, He also states
that the proceeds from the sale of the
certificates can be made directly
available at points where the need is
most urgent. and especially for the
movement OF the crops which he
says. "if properly accelerated. will
give the greatest relief and result in
the most Immediate financial returns"
The secretary calls attention 10 the
attractiveness of the bonds and certif-
icates as absolutely safe Investments.
Secretary Cortelyou adds that these
relief measures will enable him to
meet public expenditures without with
drawing for that purpose any appreci-
able amount of the public moneys now
deposited III national banks about the
country. Two treasury circulars. one
inviting proposals for the issue of
bonds and the ether asking for certif,
tcates. will be sent out under date of
Nov 49,
In his letter % Secretary Cortelyou
approving the treasury plans President
Roosevelt states that he has been
assured that the leaders in congress
have under consideration a currency
measure which will meet in pern,a-
netn fashion the needs of the situa-
ton, and which | believe will be pass
ed at an early date after congress
convenes. two weeks hence"
The president adds: What is most
needed just at the present time is
that our citizens should realize how
fundamentally sound business condi
Hons in this country are. and how alb
surd it Is to permit themselves to get
into a public panic and create strin
gency by boarding their savings In
stead of trusting perfectly sound
banks. There Is no particle of risk
involved in letting business take its
natural course. and the people can
help themselves and the country most
by putting back into active circulation
the money they are boarding The
banks and trust companies are sol
vent. There is more currency in the
country today I IAN there was a month
ago, when the supply was ample Eff
ty-five million in gold has been import
ed and the government has deposited !
another $e0.000.000. These are facts
and | appeal TO the public to cooper.
ate with us in restoring normal bust
ness conditions. The government
will see that the people do not SUI.
fer IL only the people will act, in a
normal way. Crops are good and bust
ness conditions are sound. ard we
SHDuiu put tue money we nave 1Nt0 cir.
culation in order to meet the needs
of our Astounding prosperity There
Is no analogy at all with The way
things were in 1893 On Nov 80 of
that year there was in the treasury
but 1851 900 900 N gold On Nov IA
of this year there was in the treasury
904,00000 of gold Ten years ago
circulation per capita was $2323 It |
Is now $3323. The steps that you
now take. the ability of the govern
ment to back them up and the fact
that not particle of risk is involved
therein, give the fullest guarantee of
the sound condition of our people and |
the sound condition of our treasury. |
All that our people have to do now
is to go ahead with their normal |
business in normal fashion and the |
whole difficulty disappears, and this |
end will be achieved at once If each |
man will act as he normally does |
and the real conditions of the coun-
try's business fully warrant his now |
acting"
SAN ANTONIO BANOlIET