Bryan morning eagle. [volume] (Bryan, Tex.) 1898-1909, 1907-11-19
ACTION MEETS FAVOR.
Bankers, Capitalists and Finan.
ciers Generally
EXPRESS THEIR APPROVAL
Henry Clsws Ia No, Plei,ed With the
Issuance o. Certificates, Saying Tha,
Such Move Will Tend as n Menace
For Gold Coming In.

New York Nov. Bankers. oap'
talists and flnanciers here generally
approve the action OF Secretary Cor
telyou In issuing $4,000. 900 Panam.
bonds and slOO.OOO.OOO certificates ol
Indebtedness for the relief OF the n
nancial strinsency. The general op
inion h the issue is bound 20 have
beneficial results. The issue OF TEN
porary receipts. Il is expected. viii
Immediately relieve the currency scar
city and Danish premium on cash. The
putting out Of this government Sc
curity in small denominations is a good
move. IL Is believed. as II will attract
from its hiding places much currency
which has been taken out OF circula.
tion by ,imid bank depositors.
One suggestion as TO the effective
use which the new issue may be put
was made by an international banker.
He expressed the opinion that a large
proportion OF the new bonds would
find their way 20 France and in e..
change We will get some milliona Of
French gold. which the Bank OF france
has already expressed willingness
90 let flow toward these shores pro.
vided II has some sort Of government
guarantee for rs security.
- a
regarding the governments action ar,
as follows:
Leslie NJ. Shaw, president OF the Car.
negie Trust company and ex-secretary
OF the treasury: Il thoroughly ap.
prove both measures and expect most
beneficial results therefrom."
Frank A. Vanderlip. vice-presidsnt
OF the National City bank: Il regard
the action admirable and believe I,
will fully meet the necessities OF the
present situation II ought TO cause
an immediate disappearance OF the
premium on currency. The main re-
lief will come from short term notes
Paul Morton, president of the Eauit.
able Life Insurance society: 1T will
have a very healthful effect"
J. Edward Simmons. president OF the
Fourth National bank: 1T can hardly
fail to bring much needed financial
relief"
W. A. Nash. president OF the Corn
bank: The action OF Sec.
retary Cortelyou will not only do
great deal OF good here in the present
financial stringency. but Il will tend 90
establish American credit upon firm.
pr basis in England. France and Ger.
many. showing rs II does we are viii.
ing and able 10 handle situation here
II home through cur own government"
A partially dissenting view was
given by Henry Clews. He dlsapproved
he issue OF certificates OF indebted
ness. Mr.. Clews said: The issue
u $50. 900 900 Panama bonds Is a good |
measure for the restoration OF conf |
ience. That With the SCI .000.0O we |
should give MS enough money |
and more question the legality |
" certificates OF Indebtedness and be |
ieve their issue Is III advised and |
nay prove injuries. We have money |
,nough. What W. need Is more cen.
idence. Panama bonds would have 10
,e issued sooner OF later. but there Is
10 valid reason for war measures In
ime OF peace. Initiation at this time
yin only weaken the money the gov
'mment Is backing and flood Of Ger.
ificates Is likely TO drive out the gold
We have imported