The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1908-03-24
RAILROAD BONDS TAKEN OUT
But They Will Make Their Appear
ance Again
Evidence of Both Refuted Charges
Made by Lilley-Boat Company
Had Not Made Excessive Profits on
Contracts Awarded It-Committee
Adjourns Until Next Thursday.

Washington, march 19.-Continuing
his speech begun in the senate last
Tuesday, Senator LaFollette, OF Mis-
consin, today devoted considerable
time t iscussing a proposition Tor
the physical valuation OF railroads.
The blind senator from Oklahoma,
MIR. Gore, attempted to draw Mr.. La
Toilette into a criticism OF the &C
tons of the president and Secretary
C~ortelyou in connection with he re-
cent financial disturbance but failed.
the Wisconsin senator expressing the
opinion that the president had act
ed in a way which he believed at
the time to be in the best interest OF
h country.
The senate devoted part of the
day to the consideration of the Omni-
bus claims bill and then referred 1t
back to the committee for further
consideration.
Directing his remarks to the charge
formerly made that the recent finan-
cial stringency was started by great
bankers and financiers Senator La
Toilette declared that since he spoke
on Tuesday he had secured addition
did IAlOI lldllOA plONlA5 lAaN Alo
charge was correct. He read a letter.
signed by H. r. Vermilla, auditor Of
the Washington Life Insurance Com
pany, calling upon an agent to send
premiums collected weekly to New
York and he SAD such letters were
sent to agents of that company all
over the country.
"Other New York insurance COM
panies," said Mr.. LaFollette, con
trolled by identical and allied inter
ests at the same time gave similar
instructions to the state managers
throughout the country"
Senator Gore, the blind representa-
tive OF Oklahoma, interrupted to asa
whether in view of the charge made
by the senator from Wisconsin,, the
president was justified in congratu-
lating the men who brought on the
panic.
Does the senator think" he said
that President Roosevelt and SecTe
tary Cortelyou were not star actors
in that performance, or, at least, that
they congratulated the chief actors
when it was over?"
He quoted from a letter sent by
President Roosevelt to Mr.. Cortel-
you.
Mr.. LaFollette deprecated the idea
of bringing partisan politics into the
discussion and said he did not pro-
pose to be drawn into criticism OF
the president, who had lone the best
he could to relieve the situation and
had not thought it wise at that criti-
cal moment to attempt the punish
ment of the incendiaries who had
started the conf1agration which the
president sought to put out.
Whatever the purposes were be-
hind, the president and his secretary
Of the treasury were confronted with
a condition said Mr.. LaFollette. THE
panic was on" declared the senator
He saw that legitimate business was
put in peril and the republican party
came to him as the head of the gov
eminent and to his secretary as the
head of the treasury department.
Where else could the money have
been sent to stop the panic, no mat
ter what influence might have been
behind this bill?"
Senator Bailey said he agreed with
the Oklahoma senator that the non
ey should have been sent TO the
banks throughout the country whose
money was in New York and was
kept from them and he did not think
such a performance should have been
ended by a letter Of congratulations
from the president.
Mr.. Gore said he justified the pres
ident lin standing and delivering TO
these pirates and depositing with
them that peoples money when their
dagger was at his throat. But / can
not" he said, excuse him for con-
graduating the pirates as public
spirited benefactors. | excuse the
president for helping the incendiaries
who kindled the fire, but / can hard
ly go SO far as TO approve his pro-
clamation of them as the deliverers
of the country"
Mr.. Gore stated that he heartily
agreed with the senator from Wis
consin, that Mr.. Rockefeller and Mr..
Morgan brought on this country a
panic which had ripened to a point
Of falling, but he did not think they
should be hailed as benefactors af-
terward."
Referring to the Aldrich bill, as
originally reported, Mr.. LaFolletta
declared that the railroad bonds had
been "whisked" out Of the mea-
sure.