The Greeley tribune., 1907-11-21
PUTS FINANCIAL SITUATION IN A RFTTFp
SHAPE THAN EVER BEFORE
Government Will Immediately Turn Loose $780,.
100000 to Go into Business President
Urges the People to No Longer Hold
Their Money, as theGovernment
Will Make Them Safe.

President Roosevelt and Secretary
of the Treasury Cortelyou late last
Saturday took steps in the financial
situation that should Immediately
put business back where it was be-
fore the little furry in Wall street
sent Il scare into the hearts of all
timid people of the country and
caused them to withdraw their de.
posits from banks and hide it away
safely until the storm was over.
The president now urges the people
of the United States to turn their
money back into trade, as it is abso-
lutely safe to do so.
BY the action of the president and
the cabinet there will almost imme-
diately be turned loose in circulation
$3.50, 600, 900 additional currency. that
will 60 into trade. In the face of
this action by the government it Is
absurd for people to ksep from Sin.i
vesting their money In good, safe
business The person Of small means
can now invest in government bonds
and make their money earn fair
interest and still be much more safe
than hidden away IN some stocking
where burglars may find it.
The story Of the relief given by
the government can best be told In
the letter OF the president to Secre-
tary Cortelyou. but which concerns
the entire country quite as much.
1t follows:
The Presidents Letter.
1.-THE White House, Washington,
Nov l7.-My Dear Mr.. Cortelyou:
l have considered your proposal. |
approve the issue of the $50. 900, 600 OF
Panama bonds which will be imme-
diately available as the basis FOR
additional currency. | also approve
the issue of 800, 900, 900, or so much
as you may find necessary, of $50 )
per cent interest bearing government
notes, the proceeds of the sale OF
which can be at once deposited by
YOU where the greatest need exists
and esperailly IN the west and south
where the crops have to be moved.
'I have assurance that the leaders
of congress are considering currency
hill which will meet in permanent
fashion the needs OF the situation
and which / b. 'ieve will be passed at
an early date after congress convenes
two weeks hence.
"What Is most needed Just now Is
that our citizens should realize no"
fundamentally sound business condl-
tions in this conutry are, ana no"
absurd it is to permit themselves TO
GET into panic and create a string
ency by boarding their savings III,
stead of trusting perfectly soun'
banks. :,
.'There is no particle of risk IN /
vo,ved in letting business take lts
natural pOuTSe, dilu ''S e~t
holm themselves and the country
most by putting back into active CIR
cnl,tion the money they are hoard
ing. The banks and trust conp'"'e'
are solvent.
Mare Currency Than There
'''o' Was Month Ago
.There Is more currency IN t''e
country today than there was
month ago, when the supply yo was ;S
annie. Since then 500 ooo'oo
"old has been imported and the gov
ernment has deposited alreaay s'0'
900, 600 ,r,o,, To
the public to cooperate VIII 10
restorinp normal business CONDITIONS,
Ths government will see that peop,1 ,n
do not suffer, If the people WIZ
themselves Wv act in normal way
crops are good and business 'u" 't
,,t,ons are sound, and we should pul
,he money we have into c,rcu'"', onr ,Ur
~ once to meet the needs Oh o"'