Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-03-20
A PAIL OF SILENCE
Announcement of Presidents
Intentions Withheld.
MUCH CURRENT GOSSIP
Talk of Further Restrictive Railway
Legislation.
OF STOCKHOLDERS
Reported That Views Of Men Promi-
nent in Various Fields Of Activity
Will Be Sought.

Official and political Washington is not
Ing with considerable curiosity, not I'M
mixed with interest, developments these
days i'm President Roosevelt's latest fields
of endeavor and activity and the comment
and speculation thereon. Many reports get
abroad of what the President is doing. may
do. wants to do and will do, and If all are
true, or even any considerable part of them.
he is powerfully busy man with some
Herculean tasks on hand.
Some difficulty Is being experienced, how
ever. In getting the facts Of the situation
owing to pail of silence which Is said to
be falling over the White House and which
covers even those who talk with the Presi
dent. But there is something doing" OF
that. undoubted assurance is given. It Ii
in the public interests. too. OF that there
can be not the shadow Of doubt.
But the public for the time being is be-
ing kept in the dark. What was the cele-
brated remark Of former railway mag
nate? THE public be -" or words to
that effect? However, 1t Is not likely to be
that bad in this case: the public will be
mean when the President has fully made
up his mind on the character and scope Of
the reforms he intends to initiate for the
next Congress to effect. What Is 1t all
swers that question as follows:
President Roosevelt has decided to re-
solve himself into a committee of the whole
on the state of the Union and find out what
Is the matter with this country of ours.
The reports have it that the President de-
sires to obtain at first hand the views OF
men prominent in different fields Of activity
as to what ails the country, and their sug-
gestions for a cure-all. which subsequent
ly will be adopted or rejected by the Prest-
dent in his own recommendations. as he
sees fit
Protection Of Small Stockholders.
One glimmer of the facts in these hints
of stirring doings at the White House is
the statement that frequently finds Its
way into print that the President intends
to recommend to the next Congress further
legislation restricting the railroads. This
time he is going after the capitalization OF
the transportation companies. One report
has it that the President will recommend
law which will give the government a
voice in the future capitalization of roads
in order to protect stockholders from wild
cat imitation of stocks and such peculiar
methods of high finance" as were revealed
in the Hartman admissions concerning
Chicago and Alton affairs.
The reason assigned for the silence OF
the White House upon these alleged pend
ing reforms is that when gentlemen come
away from the President they bring too
many varied and differing ideas OF his sup
posed intentions. Therefore. for the future
he will keep his own counsel so that these
conflicting impressions will not be dissem.
mated. This suggestion is regarded as, at
least being naive. Public interest In the
proceedings is none the less, however. and
is not satisfied with the statement that
when the presidential plans are well ma
tured they will be announced TO the pup
lie.
Apprehension in the Market.
The fact is said to be- according to the
Of ueIl inf that the
business and financial world is all on edge
over pending or prospective developments
at Washington The financial world Is said
to be as nervous over Washington as bag
of fieas and is continually asking. well,
what next?' As for the speculative world,
commonly designated the market 1t Is
plumb locoed, to use a western expression,
which signifies ratified" or something OF
the kind. in the language OF the enete
east.
over from New York today. every time
Washington sneeZes the market jumps like
a scared filly We are afraid to go to bed
at night for thinking what we may find
when We wake up. We certainly wish the
administration would light.
OF course this gentleman only spoke for
the speculative world. for which 1t Is the
fashion to express but scant sympathy,
although last weeks developments showed
that the link is close between 1t and the
banking world and then but step to the
treasury of the United States and the ma
tional currency system.
A Case in Point
Indicative of the close bond of sympa-
thy between Washington and the financial
and speculative world, this visitor went on
to tell of an incident that occurred yester-
day. Some one started the report in New
York that Secretary Cortelyou intended i'm
mediatey to require the banks to withdraw
the high-class railway bonds that had been
put up with the Treasury Department for
security for government deposits and cir
culation, and to substitute therefor gov
ernment bonds.
on that report the market declined sew
eral points representing a loss of millions.
1t would mean that If those bonds were
substituted now, some fifteen millions of
high-class railway securities would be
dumped upon a market already glutted,
with consequent material depreciation in
price. Secretary Cortelyou denied that any
such action was contemplated for the pres
ept at least, and the market breathed easier
and prices went up.
Thus it Is with the financial and specula-
tive world SO sensitive to reports from
Washington, and considering the close re-
lation that exists nowadays between pol
itcs, finance, legislation and official admin
istraton. II is said to be wonder that
the public is manfesting great interest In
the Presidents cogtatons. Perhaps too.
il is said, there might be reasonable excuse
for the manifestation of this interest and
some grumbling II il Is rebuked.
'Itrs the public's business and finances
that he is dealing WITH said the New York
visitor, land L think the President might
take the public into his confidence as he
goes along.