Albuquerque evening herald. [volume] (Albuquerque, New Mexico) 1911-1914, 1914-01-23
SAYS CURRENCY LAW
HAS INSPIRED
CONFIDENCE IN
COUNTRY
Senator Catron Thinks Gener-
al Outlook for Business
Shows Material Improve
ment Since January First.
REPUBLICAN PARTY rs
RAPIDLY HARM0NIZING
Men Who Followed Roosevelt
and a Grievance in the Last
Election Now Rapidly Re-
turning to the Fold.

turning to the Fold.
United States senator r. q. Ca
iron came to Albuquerque last night
for "a stay of several days ON legal
business. Senator Catrou was cali
ed west q week ago by the trial OF
Don w.MounDay and l.. DIV Noun
bay before the feerrp, court AZ
Kansas city on charges Of using the
mails 90 dcfraud. The MounDuys
held contract for the sale of a pOr-
cion OF Senator Cntron's ortiz grant
la San Miguel county, contract
which they failed % carry out.
THE MounDaya were convicted on
"a number of counts" said the Sen
ator this morning. "and although
they have asked Tor new trial and
the motion win be- heard next week,
grantcd us their conviction was he
yond an question. they are plain
iy as guilty az can be.
"The business outlook Ia the
country and especially In the east
has shown marked Improvement
since the first OF the year" said Som
atur Cutron. "and there o. every
reason To expect an immediate re-
turn of prosperity In the country. II
VIII Doe welcome. for there have been
thousands of idle men In the indus
tr.al ccnters of the cas-, and In Pitts
urg and elsewhere where thousands
we're IDLE. the situation had become
grave"
The new currency law undoubt-
eddy has inspired confidence in the
country u has Inspired confidence
In the banks and this has in turn
given confidence To depositors The
provisions FOR the converting of d.
quid securities through the regional
banks. practically insures the de-
position against loss OF funds ana
practically avcrts an danger Of a
bank failure. The law therefore H.
having materially beneficial effect
upon general confidence throughout
the county, u b not the law
which the Republicans desired pass
cd and would have passed had they
been in control of the government.
The Republican program called for
one single all-powcrful central
bank. with capitalization OF five
hundred millions of dollars. which
~ ould have been as solid and as ma
tionally panic proof as has been tho
Bank Of England for hundred
years. The currency law az Il stands,
wiH give 10 the Now York regional
bank forty per cent Of the banking
resources OF the country and that
bank In turn probably viii be- over
Swallowed IN resources by several
other banks In the metropolis. Trou-
HE In one Of these great banks
might De such as 10 tax the resources
az tho New York regional bank ana
the provisions Of the law we believe
ore not sufficiently elastic with re-
gard 10 transferring OF aid from one
regional bank 10 another, However.
the Republicans rea responsible for
many amendments ana changes In
the currency bill as finally passed
which materially strengthened 10.
indeed. Il h. admitted on all sides
that Republican suggestions and
ohangea embodied In the hill served
to make Il the measure It is.
TN any event the settlement Of
the currency question has brought
confidence and more settled condi-
tions and n material Improvement IL
the outlook for business which JUS
titles us In looking for continued
prosperity,
~ was not IN washington wher
President Wilson read his --latest
massage outlining HIS progron 81
TRUST regulation, hut gather that th'
message itself Il along conservative
lines There h feeling, however
that the legislation which VIII be at
tempted may prove radical ana an
necessary. We. and by that / NEAR
the Republicans feels that the shor
man antitrust law. with amend
ments and few minor changes 81
pecially In It's machinery. ampil
covers the needs Of the existing con
dltlons In the country, and tina
there 4 no need for Independent
trust legislation az this time.
lquestlon whether or not the admin
llstratlon program viii be carried on
"a this time. and am sure II win $50
be- carried through save by the uF
~ the caucus by the maiorit
party.
ucpuhllCaR Harmony In slght.
"The differences IN the Republl
can party are rapidly being forgot
lton." said the senator. who feel
that party harmony ana reunio
aro now an accomplished fact. 9TH
fact Ii that the break from the part
| a. the last election was not made u
OF men believing IA the so-calle
nrooresai,o aoctrlnee. n there ar
any such doctrines. but men VII
thought that Taft WAS not proper
nominated at Chicago that Rooa'
I Welt had n Just cause for complain
and who. therefore, followed hin
Those men. with few exceptions az
coming back 10 the regular part
lines. They have never departe
from their regular party beliefs
: Nothing has more clearly den
! onsiraiod this than the recent pr
! mary election ln Pennsylvania. whe
: more than threo-fourthf of thO'
a.