The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1908-03-20
SENATOR GORE
EXPLAINS PANIC
Says President Was Held Up by
the Financial Pirates and
Had to Deliver.
LA TOILETTE WON'T ATTACK
Refuses to Bring Partisan Politics
Into Discussion OF Cur
rcncy Bill.

WASHINGTON, D. c., March TO-
Directing his remarks to the charge
formerly made that the recent iinan-
clai stringency was started by great
bankers and financiers, Senator La
Toilette to-day declared that since he
spoke on Tuesday he had secured add
tional information proving that his
charge was correct He read a letter
signed by II. h. Vermilye. auditor OF the
ashington Life Insurance Company.
calling upon an agent to send pre-
NUNS, collected weekly, to New York.
and he said such letters were sent TO
agents of that company all over the
country.
"othcr New York insurance CONF
panies." said Mr.. La Toilette, con
trolled by Identical and allied inter-
ests. at the same time. gave similar
Instructions to their State managers
throughout the country"
Senator Gore, the blind representa-
tive of Oklahoma, interrupted to ask
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 Secrc-
tary Cortclyou were not star actors in
congratulated the chief actors when 1t
was oyer?"
Defends President.
He quoted from a letter sent by
President Roosevelt to Mr.. Cortelyou.
Mr.. La Toilette deprecated the idea Of
bringing partisan politics into the dis
cusson, and said he did not propose to
be drawn into criticism of the Presi-
dent. who had done the best he could
to relieve the situation and had not
thought 1t wise at that critical moment
to attempt the punishment OF the in
cendiaries who had started the con-
flsgration, which the President sought
to put out.
Whatever the agencies were back OF
that panic said Mr.. La Toilette,
whatever the purposes were behind Il,
the President and his Secretary of the
Treasury were confronted with condi-
ton.
The panic was on" declared tho
Senator. THE country was put in peril
and the responsibility on him as the
head of the government and to his
secretary as the head of the Urea ury
Department. Where else could the
money have been sent to stop the panic
no matter what influences might have
been behind the bill?"
Senator Bailey said he agreed with
should have been sent to the banks
throughout the country whose money
was In View York. and was kept from
them. and he did not think such n
performance should have been ended
by letter of congratulation from tho
President.
Dagger at Hts Throat.
Mr.. Gore said he justified the rPresi-
oent IN standing and delivering to
these pirates and depositing with then,
inc peoples money when their dagger
was at MS throat But j cannot" he
said. excuse him for commemorative,
the pirates as philosophical benefac,
tors. L excuse the President for help
ing the incendiaries who kindled the
hre, but I can hardly go so far as to
approve his proclamation of them as
the delivcrers OF the country
Mr. Gore stated that he heartily
agreed with the Senator from wtscon
Sin, that Mr.. Rockefeller and Mr.. Nor
gan Drought on this country panic
which had ripened to a point OF fall
Ing, but ne did not think they should
be hailed as benefactors afterward."
referring to the Aldrich bill as orig
inally reported. Mr. La Toilette declar-
ed that the railroad bonds had been
Whisked' out OF the measure. 1--WE
are not through with that PROPOSE
ton" he added. 1T will appear again
and again until finally it is over
whelmingly beaten or until 1t is worked
in and engrafted upon the currency
system OF this country.
He then discussed at some length
his resolution for the valuation Of
railway property, which he said had
been sent to the Committee on Inter.
state Commerce, but was not acted
upon.
This is not the first time in the
history of legislation he continued
that the chairman of the Committee
on Finance has brought in PROPOSE
tons by legislative decree to work
railroad bonds into the Treasury De-