Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1911-12-30
BANKERS
CAN 7 SEE JOKE
NENIIi CONGRESS ~ -
THE LAUGH ON THE CNpI-
TALISTS
FAILED TO secure BANK
.Congrcs-mcn Had u Good Time on
The Money FrcnChman
Put Up.

W1LLEMSTAD Curacao, pee 3l.-
Tho special session OF the Venezuelan
congress has closed after perpetrating
Joke since President Castro was mo-
titled that he might continue his va
cation outside that country indefi-
nitoly
The Joke was on the French bank
crs who betrayed the expenses Of the
special session convened purposely to
approve legislation which in the final
days Of the meeting was rejected.
Early last summer the government
granted concession for the estab-
lishmcnt of a new bank with the ex-
elusive right to issue paper money and
10 the extent of 10000, 900 boivarcs.
The bank was granted such other ad-
Vantages as probably would have re-
suited IN the closing Of the old-es-
tabllshcd bank of Caracas and the
Bank of Venezuela.
This accomplished. the concession
aires took the first steamer for France
where they had no trouble in dis
posing of the concession to Paris fin
anciers. But a concession in Nene-
zuela does not become a law until
II has been approved ny Congress- and
unfortunately congress had Just adj
journed and would not meet again in
regular session for a wear. In the
meantime many things might happen.
Castro might reappear and upset the
whole plan. Accordingly, the French
interests made their acceptance Of the
concession conditional upon the agree
ment of President Gomez to call con-
grcss in extraordinary session. Gomez
was agreeable. but could not see why
Venezuela should be put to the eX-
pcnsc involved, which, for salaries and
travelling expenses he estimated at
$4,000.
The French bankers thought IT over
and notified the Venezuelan eXecu-
tive that they would stand the eX-
pcnsc. Gomez, however, having had
some experience with congress and
perhaps in doubt as to how the eX-
pected LEGISLATION would turn out he
cabled Paris that it would be ncces-
The money was received in Caracas
and the congressman assembled
They delherated for "A month and
then instead of approving the bank
concession, passed new banking law
sounder than the old one and maxi
ing the issuance Of deprecated paper
money impossible. Congress also de-
.f hnti
wares Of silver currency and 100000
of gold. The members then left for
their homes, having much enjoyed
their stay at the capital, and more
than ever impressed with French gem
erosity.
Most Of the credit for the reaction
against the paper money danger is
ter for foreign affairs, himself
wealthy banker For days ana DAYS
meetings were held nightly at Cen
eral Mato's home in his attempt to
convince the other members of the
of the danger of the new
concession. He was ably seconded by
Or Jose Gil Fortoul, minister of edu-
cation.
The projected revolution Of Gencr-
al Jose Manuel Hernandez. who has
thrown down the gauntlet to Presl-
dent Gomez from Porto Rico, has
now lost It's battle cry Of down with
paper money and the bank concos-
sion General hernandez was mcm-
ber of the council Of state and is the
head of the conservative party in
He has lead iunumcrable
revolutions ana has been beaten in all
He win probably join forces with Gem
cral Alexandra Riva Nasques and Gen.
eral Aristides Telleria and use Trini-
dad as a base OF operations
". q. ". Attention.
The annual installation of the Off