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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Jan 30, 1908
Page
26
Treasury action ended a bank oriented move to ease distress by calling out new circulation. Nearly 300 million dollars had been withdrawn from district deposits, with the funds described as relieving emergency strain.
The Treasury issued Panama Canal bonds to banks to support currency in circulation. Private bids were largely speculative and would fail without ready payment. Public funds distribution favored no region, with New York and other areas showing varying deposit levels. Withdrawals for taxes affect Washington bank deposits and local circulation.
Secretary Cortelyou submits a twenty nine page reply to the Senate resolution on Panama canal bonds and three per cent certificates. The document includes depository lists, deposit totals, bank notes outstanding, and notices to banks that bid for bonds. It covers Treasury actions during 1907 and the Alandale disturbances, plus a summary of financial events from his start as Treasury Secretary to the report.
Senate debate on finance measures and bank relief follows Cortelyou report. It details currency withdrawals, Panama bonds allotments to national banks, and the impact on deposits, with sections on foreign conditions, bank note circulation, and calls for remedial legislation.
Senate committee reports a bill to fund US participation in the Tokyo 1912 expo with a commissioner general and officers, plus a Santiago Chile congress representation and Quito Ecuador exploration appropriations. Also district panel extends Washington Heights Tracks deadline, ranks dentists as lieutenants, and proposes a constitutional anti polygamy amendment.
Democratic Senators attack Secretary Cortelyou over delayed replies to the Panama bonds and 3 percent certificates inquiry. The Senate met in acrimonious debate as the secretary printed the transmittal letter but not the eighteen exhibits. Critics accuse irregularity while Aldrich and Carter mock partisan motives. Cortelyou defends the method, calling the presentation a powerful defense of his treasury policy. The Government Printing Office is converting the figures into printed pages for distribution.
An Ohio man credits Grape-Nuts and Pustum with restoring his health after two years of weakness, constipation, vertigo, and brain fog. He details improved sleep, digestion, memory, and strength, noting increased weight and vigor after adopting the cereal as a primary diet and dismissing medicines. The letter concludes with the branded endorsement and the phrase There’s a Reason.
Special notices announce the annual meeting of the Mutual Fire Insurance Company of the District of Columbia on February 4 1908 at 9 am at Thirteenth Street and New York Avenue. Seven managers to be elected. officers to be appointed per charter. finances and assets listed. Also notes of death and a separate Knights Templar memorial event.
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