Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1908-01-16
From Washington

Correspondence Of the Alexandria Gazette
Today's meeting of the Senate COM
mitlee on finance was again devoted 10
a general discussion OF the provisions OF
the Aldrich fosncal bill. No vote IVES
taken on any detsils of the bill and no
amendments we're formally offered. The
committee will meet agsiu at 2 O'Clock
this Afternoon and it is possible that the
democratic members will then be ready
to propose some Of their amendments.
While there is considerable diversity OF
opinion on details 1t is confidently ex-
psc,ed thai the bill will be Fl ally agreed
upon in practically the same shape a.
when il was Introduced, with the pos
sible exception of refusing to accept
railroad bonds as security for circulation
and increasing the amount OF cifcula'
ton that may be issued On states,
county and municipal bonds from sew
eoty-five per cent Of their value, as pro-
yided in the bill, TO eighty-ave per cent.
Whether Mr.. OOrtelyou is going to
resign from the secTetaIysh'p OF the
Treasury Department or not, 1t IS cer-
tain that he is getting deeper and deeper
toto hot water with the Senate. de has
aroused the ire OF the democrats because
he failed to observe the law which re-
quires him to report TO Congress before
the first Of January each year in what
banks he has made deposits of govern
ment money. Now he has incurred
the wrath of the republican members
of the finance committee, because Of
his delay in responding to the resolution
of the Senate calling for a lot OF ip-
formation respecting the condition OF
the banks and the general financial
situation. Senator Aldrich, on the floor
of the Senate Tuesday, on promises
which he said he had received from the
Treasury Department, pledged bis word
to the democrats that this information
would be furnished by noon yesterday.
Mr.. Oortelyou, yesterday, sent word that
it would be impossible 10 forward the
information wanted before this after
noon. This made Aldrich go angry that
he withdrew his objection to the passage
of the resolution offered by Culbe son,
minority leader, calling upon The
Treasury for a statement az TO The
amount of circulation taken out by those
national banks to which Cortelyou had
allotted Panama bonds in the recent sale.
Secretary of War Taft today told the
Senate committee on interocesnic canals
that the Panama canal would be COM
pleted six years from Che first of next
July. This was in the course of gen.
ersi statement which he WAS making to
the committee regarding the present
conditions and progress of the canal
work. Colonel Goethsls, the chief
engineer, ex-senator Blackburn, a mem
Der Of the commission, and counsel
Rodgers we're also present.
Political and financial circles are still
agitsted over the Cortelyou resignation
story, despite denials foom the White
House and from the Secretary himself.
If Mr.. Oortelyou has told the President
privately that be would probably leave
the Cabinet 10 the near future, no one
has yet been found who will voueh tor
the report. There is no denial that the
Secretary has received some very fltler-
ting offers from financial institutions in
the past few months. Whether one Of
these was the KnickerbOcker Trust
Company, he declines to state. The
friends of both the President and Mr..
Cortelyou assert that there has been
no quarrel between the tao. There
have been differences OF opinion but, ii
Is asserted, these have not been of 90
serious character as to cause breach
The report that the President is worried
because OF his alleged deposit q $50, 600
ia the KnickeTbOcker concern, Is also
vigorously denied at the White House.
1t is stated that the President WAS not
a dspositor at the time the Knicker-
booker closed its doors. II, as has been
charged. the Presidents money was
deposited by relative, and is row in
tbat relatives name on the books, no
substsntialiou can be obtained here.
The U. S. Supreme Court today sci
January % for heating arguments on
application for appeal in the Olica 60
Street Railway franchise cases fir ON
Judge GrosScup's court