Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1908-10-09
II G0OLLDGE

the notes into such shape that they ME4
might be put upon the market. #lzss
Acting Secretary Coolidge of the
treasury overlooked the work and the ~
bureau of engraving and printing Hk@
which put out the currency in 4ESy
charge of Superintendent Ralph. gk
Each day Superintendent Ralph de- aEgg
livered into the hands of the treasury NESS
officials between $2,0OO,OO0 and $4,000 &aE -
900 in the new style notes. Before the sEE
end Of summer there over $780, SkSs
100000 ready for delivery to the banks HM E
on call. E sEss
Congress meets again in December MNE@%
and then the legislators will be greeted 4EST
by the great outlay of cash. If there HsE$E
should be a panic this fall, which is ms EMs
far from likely, officials declare, this se
great amount of emergency currency MSlkzHs
would be delivered to the strick M
en- districts within few hours and it is IA <E
believed the trouble would end with La M
the appearance of the cash. ~ ~
Up to August 1 only one emergency mi BR
currency association had been formed, EAaF 81
but organizations began to ma %ME &.
terialize all the country and the MAs N
interest in the pew act heightened EfdR SS
TO "A great extent The banks of the B@ kSz
District of ColuAbia had their articles EAs 2s9s
of association approved by the secre- @ AFafss
tary Of the treasury about the middle &SPsySs;
of July and to them belongs the honor -
of being the first members of an or I1hI
ganization authorized under the emer. illIVH
gency currency law. III vi
The banks in New York and other Ill II
financial eenters were not disposed to ONll
fully commit themselves pending a de-
termination of the question whether a bank joi
ing an association could withdraw from it aft
complying with all the requirements of the la,
The treasury officials regarded this question
purely academic but they took the matter u
this point in q very short time. The act itse
is entirely silent on the subject.
The proposition of putting out such a gre
amount of currency one which held the b
reau of printing and engraving in its throes f
many anxious months, for it pointed o
when the measure finally passed congress aft
a long fight that while it was decidedly impro
able that there would be a panic this fall,
was certainly necessary that the currency
ready for deverance in unsettled cont
tions should introduce themselves into WI
street and other big financial centers of Il
country.
But il the word of the trainers of the Aldric
Vreeland statute is to be believed no such &C
dtions arise, simply because of the existen
OF the emergency currency act.
Most readers of congressional news in the dai
papers remember well and followed closely t
struggle which took place in both the house a
senate concident to the passage of the bill. Il
senate refused 10 accept the Nreeianu DILL maj
featured in the lower branch while the house
representatives could see nothing but evil thin
in the Aldrich measure-that is, the majority.
Speaker Cannon Of the house paid several Wis
to President Roosevelt at the White House. 7
executive insisted upon work being done by &C
Gress, IL 1t were only this law. Finally
opposition forces met in caucus and then the
was another caucus, most of the points in dispr
being settled. The bill passed the house wi
much acclaim from those who had aided in effe
the compromise.
Then came the struggle In the senate with 81
ator LaFollette, Senator Gore, the blind legis