Daily press. [volume] (Newport News, Va.) 1896-current, 1908-01-15
That Was Charge Made BIZ
Senator Cu|bsPs0a In upIted
States ssnts Yesterday.
BROKE CONFIDENCE OF PEOPLE
Did Not Keep the Promises Made to
the Public in the Official Circular
Sent Out by Treasury Department
When Panama Band bids Were
Asked For.

4
WASHINGTON. d. c.. Jan. 15-Tha
recent mond Issue by the treasury de-
partment was again the subject for
discussion In the Senate today. being
brought forward by resolution after.
cd by Senator Call arson calling on the
secretary for additional Information
concerning the reasons that induced
! him to award bonds to national banks
Instead of to individuals who. he de.
clared. offered q higher price.
Mr.. Aldrlch insisted that The rsso.
luton should not be adopted until
/ after Secretary Cortelyou's reply to n
resolution formerly adopted by the
Senate. WAS received. but promised To
nd In securing additional information
/ If that reply was insufficient Mr..
Culberson's resolution went over
under the rules. During the session
Senator Tillman offered resolution
cmbodytng now series OF inunlrles
concerning the financial situation.
The Senate today passed n bill up.
propriating ,s3,000.90O for n site OH thc
South sido OF Pennsylvania avenue.
Washlngton, cpnosltc the grounds OF
PIE white HouS< ~ bifasIbg for
fthe ddpartfne OF state, iTsviese;S sS7qs,.-v
merce and labor. A bill to appropri
ntc Sl0,O00.O0o to purchase all IL,
land on the South side of Pcnnsylv,-
MIA avenue between the capitol ahfl
The White House grounds for tho yiir.
pose of the location OF public build
ings as was needed, was discussed.
| me bill passed the Senate at n
previous session.
Under objection the bill went over.
MIR. Culberson's Resolution.
The resolution offered by Mr. Cnl.
berson today, directed the secretary
10 inform the Senate Of the amount
or circulating notes issued by each
national bank to which was awarded
me Panama bonds under the treasury
circular of November is. 1907, which
notes We're issued In consequence of
the award OF the bonds.
Mr.. Cnlberson said that the act OF
Congress under which these bonds
! wers awarded provides distinctly.
thass the bonds NAV be disposed of by
me secretary of the treasury at not
less than their par value under such
regulations MS he may prescribe ''giv-
ing. continued Mr.. Culberson, ITO all
citizens OF the United states an equal
opportunity to subscribe therefor"
Not only that he added. "the cir
cuIar oil the treasury department dated
November IS. 1907, contains this state
ment: In considering bids, the bidders
oherlng the highest prices will receive
me hrst allotmcnts.' desire" said
Mr Culberson, ito sumbit to the
senate one or two facts, which ndi.
cate that the secretary has violated
the law In Issuing the bonds he has
awarded"
He wanted this resolution adopted
at once. he said. In that the Senate
might reply when the secretary sends
his reply to the Senate.
He read letter from j. II. Coston.
|or Osceola. Ark. who said he had
bid for S2500,O00 of these bonds and
That several millions of dollars worth
or the bonds had been disposed Of
below the amount he had bid. His
Did had been 1914 for $1,000 900 of the
bonds and 1925 for s1,50O.o 900. He
mad asked the secretary for an OK.
PLANTATION and had received tho fol-
lowing: In reply to your letter OF the
18TH inst. you are Informed that the
| department did not accept any indiyl.
dual bids, where the amount exceed.
ed 10000"
rho letter was signed by j. f..
Edwards, acting secretary. Mr.. Cut.
berson said he had n letter from an
attorney in this city saying he. had
bid lO4-20 for 100000 OF Tho Panama
bonds. Bonds had been bid for by
individuals, he said aggregating
s2,9o0,o00 and not one Of these bids
was below 102 5-S and yet according
to newspapers bonds were awarded d
national banks aggregating $7.292, 500,
bids for which were below those Of
individuals.
Mr.. Aldrich asked that The resou-
ton be not presented until the secra-
tarys reply Is received.
He insisted upon his objection anu
tile resolution went over.
Senator Tillman Wants to Know.
! Senator Tillman introduced a resC
| luton calling upon the secretary for
information concerning insolycnt nat
ional banks as follows. ,lst The
l -.