The Marion daily mirror. (Marion, Ohio) 1892-1912, 1909-09-16
Chicago Letter

Chicago, Sept. l5.--A serious blow
to the Lake-to-the-Gulf deep water
way project from Chicago to New Or
leans is foreseen in the forthcoming
report of the Internal Waterway Com
mission which will disaprove OF en-
ormous expenditures for waterway
improvements until the present con-
trolby railways of waterwaysterminals
has been restored to the public. Com
mercial interests of Chicago, st. Louis
and other cities have failed to sus-
tain public interest In the great
waterway fourteen feet through the
valley" and its champions in Con-
gress have been very dubious wheth-
er the big appropriations so much
needed can be secured when public
interest Is Tagging Recently the ten
tative decision of the Internal Wat
erway Commission to report against
large appropriations until terminal
docks and wharves have been secured
has made the prospect very gloomy
TO those on the inside at Washing
ton. During the period of traffic the
railways are said to quietly discour-
age the development of waterway
transportation although the roads
lose money on some classes of bulky
tonnage which can be carried by wat
or far cheaper and with relief to the
railways when equipement is in great
demand. The railways are now in
command OF the situation, for the
docks in all the important cities OF
the west are now in their absolute
control. This Is true along the Chi
cago and Calumet rivers in conse-
quence of which the railways nave
diverted each year more tonnage to
Milwaukee and other ports where
rail competition was less. '
lFj clt-i. tlt ~
The foremost position given to the
central bank Of ISSUE plan. both in
private and public discussions OF the
American Bankers Association now
in session in Chicago, has disclosed
how very likely the plan Is to be-
come the main Issue in the first ses-
sion of the next Congress during the
winter OF 1901. With the approval
of Senator Aldrich and his National
Monetary Commission and the sup
port of the same faction that passed
the Payne tariff bill leading bank
ers believe that the measure to thus
radically change the currency system
OF the United States, would be GER
tain to pass the present Congress-
But congressional elections are to in
tervene and consequently the adyant-
ages of the central bank idea are to
be unfolded TO the public gradually
and IN opalescent tints during the
coming year. Congressman Vreeland
having chosen to fire the first gun i.
his speech September g. The bank
ers themselves, particularly those Of
the West. seem the least likely to
approve che measure readily. 1t has
been known for months that the Nat.
ional Bank OF New York, the Stand
ard Oil institution, has been actively
advocating the central bank idea, 1t
being at present the biggest bank in
the United States, and naturally as
plrant for "honors" at the hands OF
Uncle Sam. However some of tn,
strongest forces in good government
have been active In proposing and
supporting the central bank idea.
A billion dollars of wealth, 1t has
been estimated, will promenade the
waxed floors of the Auditodium thea.
ter at the bankers Dail'' to be at
tended for an hour by President
Taft, at the conclusion OF the conven-
tion OF the American Bankers AS
sociation which represents bank de-
posits In the United States OF fully
$20. 900 100000. The absorbing topic
of social gossip now is the fact that
ancestry and social prestige were dis
carded, with some friction. In maxi
ing up the invitation list. To the
faplies who are labeled "exclusive''
TIE function u called hopelegsly