The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1908-10-19
0ow eoN N'sl4eD seIpsp OKLAHOMA

Estate Dress Bufeau)
In response 10 q resolution Of the
senaic of the lluited States calling
or information In regard to The opera.
ion Of the treasury dnrIng the panic
loriod. Hon George B Cortolyou. see
etary Of the treasury. used the fol
lowing language which Is quoted from
he Republican national campaign text
Jook. from page 90. ia an article en-
tiled The Money Panic Of 1907. ~,
vas decided iii the latter part OF An
gust, to mako each week substantial
ieposits Of Tho proper moneys in the
laiional banks with n view 10 fdci!i.
8ting The movement of the crops in
ne various sections OF the country
beginning on August 2S. and continp
ng each week through October. this
Ian OF weekly deposits was followed
total Of about twenty-eight million
ollars being allotted TO various banks
hese banks were located In each OF
be forty-six states. IN the territories
nd in the District of Commbia. Ev.
ry endeavor was made from the In.
lrmation and requests at hand. so to
istrbnte This fund that II would
leet actual needs in sections where
uslncss activity was at the maximum
nd currency was most urgently re-
uired.
on November II. President Roosc.
cit in letter TO Secretary Cortel.
on. said:
q also approve the issue of a $l00,,
10000. or so much as YOU iaay find
- 4 a..
lterest bearing government. notes,
le proceeds OF the sale OF which can
g at once deposited by you where
le greatest need exists. and especi.
lly in the West and South. where
ne crops have TO be moved.
The records OF the United States
seasury show that from October 10,
October 81, 1907, the deposits OF
oyernment money in national banks
the state OF New York was IN.
reased $34,5S3. .9l372 For the same
eriod of time the deposits OF govern
ient money in Oklahoma was de
reased 1854 ,5s0.50. Il will be re
allied by Oklahomans that the period
ientioned Immediately followed the
Omission OF Oklahoma into the I'm
IN. and that the two weeks holiday
reclaimed by the territorial governor
relieve the banks from responsible
y for paying their deposits had only
cen lifted three days.
Secretary Cortelyou and President
oosevelt say that during that very
me he was depositing government
ioney in the states where Il was
eeded to move The crops Oklaho
las cotton crop. one OF the larges
any state in The Union, was ther
eing placed on the market The lat
ar half OF October Is The time wheI
oklahoma most needs cash to moy,
er crops. and yet the records shop
iai during thai period. instead of civ
lg us more money. Cortelynu tool
way more Than halt q million of tn
4 ioney We already had. ii seems prob
\ ible from Mr. Cortelyous statemen
\ his report. that the thirty-five mn
on dollar increase in the government
deposits In New York banks was mad
/ order that there might be suff
lent cash to market their pumpki
rop. Or would It be getting close
the mark TO say that that thirtS
We million was deposited In the NeN
fork banks I'm that the Wall stree
rowd might have money sufficient
roperly market their annual crop G
1 suckers?
Whatever the explanation. II is har
o understand how any Oklahom
lrmer can get much consolation on
| this statement OF facts.