Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1908-08-22
BUREETT'S VOTE ENDORSED
President Writes Senator Concerning
the Currency Bill.
STATES BORROW FROM NEBRASKA
Hayward May Not Resign rs Chair
man of state Committee, but wait
Until IL Is ReOrganiEed After
the Primary.

LINCOLN, Aug. 2.-(SpecisL )-Senator
BurKstt scored todaN by receiving a letter
from President Roosevelt endorsing his
vote upon the emergency currency legis-
lation enacted by the last congress. Sen
ator LaFollette in a speech here several
days ago, took the senator to task about
his vote on that measure. a copy of his
speech was sent to the president, who re-
Piled to it in his letter to Senator Burkett.
The letter is as follows:
OYSTER BAY, y. y Aug. IS. 1SOS.-My
Dear Senator. heartily approve 0L the
currency measure, otherwise ] would not
have signed the bill. In my judgment IL
would have been most unWise not TO nave
passed IT, and not a single argument worth
needing was advanced against II. en-
close YOU a copy Of letter ! had already
THEODORE ROOSEVELT.
The following is a copy Of the letter re-
ferred to by the president:
Dear MI. Willis: 1 have your letter of
the goth. My motives were simply those
l have in signing any good bill Bey y0nd
an question the emergency currency by
was a good measure, and ! nave not heaTu
IL attacked with any arguments WLlGh !
thought even deserved an answer. ~ r. r.
avowedly only an emergency measure, IL
lasts merely the length OF time 10 permit
us TO develop a permanent plan; o9t uuI-
ing that time 1t makes provision ior ~ ~
needed elasticity Of currency, ana IL does
N i'm an utterly unobJectionable manner,
II does not accomplish very much' put IL
does accomplish s9meth,lns' ana IN me Seen
raised TO il worthy of paying the sHeHITsL
heed TO. while. furthermore, II makes me
admirable provision for commission 70
make a report on a permanent currency
piah' 'i"''' sT1HEoDoRE ROOSEVELT.
Senator Burkett declined to say anything
more. further than to express regret lhaI
LaFoUette and the president had fallen out
in the matter, but he was not able al lhat
time to Justify himself in following La
FoIIette in his flHbuster against an ad-
ministration measure. He said ne thous nj
tho fact that the bill IS endorsed by Presi-
dent Roosevelt, PTesident-to-be Taft and
the national republican platform. and was
voted for by all the republicans in the
senate except five, and practically all the
republicans in the house Of representatives
was endorsement enough for the bill with
out his adding anything further
Field for Investment Needed.
Nebraska has farmed out to other states
S43l6.9O632. which would be at work In
mis- state did the constitution provide
sor the investment Of the permanent
school funds in municipal and school dis
trict bonds There is a total Investment
Of mis- fund in bonds and general and uni
vsrsitv funds warrants Of $7.sS5,2Io.16
The state treasurer has on hand s-5O,OOO
OF the school fund and there Is lot Of
money tied up IN school lands which are
increasing in value every day. The TEAS
urer has invested in county bonds S5,6Gs,-
I 364.44.
The above is the reason State Treasure
Brian Is in favor Of the adoption Of The
constitutional amendment providing fer
an enlarged field for the investment of
the permanent school fund. The fund
has become so large that the treasurer
now is kept busy keeping 1t invested. As
shown by the above figures, most Of The
enormous fund is being used by other
states. when as a matter Of fact the
money would bring in more interest II
were possible for il 70 be invested in sr-
curities in this state.
The treasurer has invested in general
fund warrants, s495lOO. So; in university
warrants. S35,2345s, cash in the school
fund g25O,OOO This money is held on
hand at this time IN order 10 be able 70
take care Of warrants which may become
due.
The records in the office Of the treas
urer show that some Of the Oldest states
in the union have come TO prosperous Ne
braska for money with which 20 run
their affairs. The following shows the
states which have Nebraska -choo
money:
Alabama ''''''..'..''..'.. lN-.b1t
OahioIhla '--'-'--' ''.-.'- '-'.o''
tg-rtirtiad on sao115 T,sssa