The Washington herald., 1908-01-30
ANSWERS Ills CRITICS
COrtelyOu StirS Democrats by
Reply to Inquiry.
WHY DISTRICT IS FAVORED
Senator stones Sarcasm Brings
Forth Statement as TO Deposits in
Neutrality-suspicious. why Pam
anna Bends and Per Cent Certin-
Gates Were Denied individuals.

peliiociatc senators, with senator tul-
berson. leader of the minority in the
van, raised storm Of criticism against
Secretary Cortelyou yesterday because he
sent to the Senate a printed pamphlet
Expressing certain conclusions drawn from
the array of figures he submitted ian re-
Spouse to the Senate resolution regarding
the recent financial relief measures
He has made his argument in this
printed pamphlet before he has sub
mltted in print the facts upon which the
/ argument is based said Mr. CuIberson.
Mr. Tillman declared hat Mr.. Cortel-
you was assuming the airs of Presi-
dent before he has been elected
Mr.. CulbeTson asked whether the Vice
President had compared the printed PAM
phlet with the report sent in by the Sec
rotary 20 learn whether they contained
the same material
! Vice President Fairbanks replied that
he had not examined the documents, and
he had not supposed he would be ex-
pected 10 do so
7 assumed that the Chair knew more
than he is expected 10 know under all
the circumstances" retorted Mr. Gull
berson.
Lodge Replies 10 CriticiAm.
Senator Lodge. OF Massachusetts. beinA
called upon by Mr.. TilIman TO explain.
said he did not regard the matter as at
all important, because the Secretary of
/ the Treasury had seen Mt 10 print part
/ Of his report for the convenience Of Con-
gress.
THE Senator from South Carolina has
/ been interested I'm getting information;
/ let there be light was his demand %
/ said MI Lodge. "and now when the
/ light Is 10 De turned on IN this dark place
/ he resists. He objects 90 tie effort OF
! the Secretary Of the Treasury 20 shed
/ upon the darkened mind the light divine.
He wants his light ali az once or not at
ALL"
Does the Senator from Massachusetts
consider that there is any light between
the covers of this pamphlet demanded
MIR Tnlman
Mr.. Lodge was framing his reply, when
MI. Tilman again interrupted
Light! Light" he shouted Don't
go of on anything else. Is there any
light in this bo0k?'
eyes" replied Mr.. Lodge 7 think
there is much light in that printed report,
but whether the Senator from South
Carolina viii discover il cannot say.
FiIIman smells "a Rat.
Mr.. Carter. Of Montana was defending
the action Of the Secretary when Mr.
THman again broke in to suggest that
Mr.. CorteIyou was booming himself for
u.
i know the Senator from South Caro-
lima viii acQuit me Of being a partisan
in the matter Of any Presidential boom"
said Mr.. Garter. II have conferred with
ali the Presidential candidates. and they
will aequit me Of being a partisan in nay
choice of Presidential candidates
MI Tinman said he objected, not to the
printed paper but to the Secretary issu
ing a printed defense Of himself in ad.
vance of printing the facts upon which
the conclusions in the defense we're based.
Mr.. Aldrich ended the discussion by sug-
gesting that instead OF treating "a serious
matter I'm serious way the Senators
We're INDUCING in a comedy.
The Vice President then directed the
clerk 20 read from the calendar, and the
Senatorial tempest subsidized.
Explains Districts Deposits.
Mr. Cortelyou. IN the course Of hts ex-
PLANTATION. gives answers 10 the criticism
made by Senator Stone, OF Missouri, in
speech in the Senate last week on the
distribution OF government funds. in
which he sarcastically referred to Wash
ington as a great commercial en-
porium" and called attention to the large
amount Of government money. relatively
speaking. which is on deposit here. In
this connection. Mr.. Cortelyou in his let
ter. says.
Under the laws governing the District
Of Columbia the taxes assessed on real
estate are due and payable during the
month OF May IN each year The pro-
ceeds Of these collections are Immediately
paid into the Treasury Of the United
States, thus taking ont Of circulation a
large sum Of money. In other cities these
tax funds are placed on deposit with the
various banks by the municipal authori-
ties. In order to meet this emergency,
the Treasurer has each year made de-
posts with the local national banks OF an
amount aggregating the taxes paid into
the Treasury in NAY.
Aids Local Finances,
These deposits have been made with
the banks in proportion to the individual
deposits as compared with the amount 10
be distributed The banks repay this
money to the Treasury in ten equal in
stallments, on the first day Of each
month. commencing July /, which enables
the Treasurer TO meet the expenditures Of
the District authorities as they may fall
due without Withdrawing from circulation
for SO long a period a sum which would
cause, and has in the past caused. a
marked and unnecessary stringency in To-
cal financial conditions.
AT the last date December =. 1901 named
IN the accompanying statement of deposits
of public moneys, there was on deposit
with twelve national banks of Washing
ton a total sum Of S4S16.6Sl.3l, OF which
- 1885, 500 was the remainder of the tenn
p0rary deposit on account Of the tax col
lections referred to above
Reviews Critical Period.
The Secretary, after enumerating in his
letter the various documents submitted
20 the Senate in reply 10 the resolution
of December 70. which cover all the vari- |
Gus aspects of the situation created by |
the crisis and the measures which were !
taken TO relieve It. including the deposit |
Of government funds. the issue of per !
cent certificates, and the Panama bond |
issue, al well as the allotment Of deposits |
certificates and bonds and the correspond |
ence growing ont Of them. reviews the 1
business conditions OF the country at /
the time when he assumed the Secretary |
ship OF the Treasury. and the changes In /
that condition which terminated in the |
crisis Of October and the two following /
months.
When in the latter part OF August il /
was decided to begin making weekly de- /