Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1908-01-31
From Washington,
Correspondence OF the Alexandra Gazette. J
Washington, d. O., January 81.

Correspondence OF the Alexandria Oazetle. }
Washington, D. O., January 81.
When debate begins in the Senate on
the AldTich financial bill February 10,
1t will be with the expectation that a
vote upon its passage may be taken
within two weeks thereafter. Most Of
the talking will be done on the demo-
cratic side. Mr.. Aldrich will lead OF
with statement explaining the provi-
sious of the measure, and what it is ex-
pected to accomplish in the way of pre-
venting recurrence Of money famine,
such as occurred last fall. IT Is his
opinion, aud that of his colleagues, that
the occasions when the provisions of the
bill will be called into operation will be
rare. The mere fact that the banks will
have such q resOuTce--to issue up TO
halt billion Of emergency currency
will, be thinks, have a wholesome ef-
feet, and prevent such runs on sound
institutions as have been witnessed in the
last few months. Senator Bailey, .
member OF the faAnce committee, will
probably take the lead In defining the
democratic attitude on the bill. There
ia an almost unanimous opinion among
the democrats that the proposed emer-
gency notes should be issued directly by
the national treasury and not By the
banks. Mr.. Bailey has slready pre-
pared an amendment that he will offer
to this effect, aud be will insist upon
having record vote upon 1t. Senator
Daniel, also q member of the commit
tee, will offer an amendment 10 that psrt
of the bill which names the character Of
railroad bonds, which will be acceptable
as security, He has discovered that, IS
the bill now reads, the bonds Of only two
railroads doing business 10 the south
could be RECESSED Sc security-those Of
the Illinois Central and of the Louis
vile and Nashville railroads. This
Is beccuse the bin limits the acceptable
bonds 10 those of roads which have paid
not less than 4 per cent. on their entire
capital stock for not less than Ave years.
There are many roads, not only IN the
south but in the west, which pey divi-
dends on their preferred, but none on
their common stock. There sre many
Others which pay on both kinds OF
stock, but have not paid as much as
four per cent. on both for the required
length of time. 1t il understood that
Chsirman Aldrich is willing to accept
an amendment which will meet this
difficulty, and will make railroad bonds
more generally svsilsble. Senator Mel
son will offer bis amendment proposing
that the government guarantee deposits
in national banks and providing fund
for that purpose, and will &c, vote
upon it, but hss no expectation that it
will be adopted.
The general opinion in Washington
is that the special message sent to Con-
gress today by President Roosevelt is
the most important State paper ever
prepared by him. There is no question
that 1t is most vigorous. IL is regarded
So more than defsnss Of the so-called
Roosevelt policies. 1t is an announce
msnt that SO long as Roosevelt is Presi-
dent, the movement In his general
scheme, "to secure national honesty in
business and politics." will be pushed
with all the energy at his command.
More than that, II is 90 indication that
If bis successor in the executive chair