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About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (Jan. 11, 1900)
TEBLMOBNIgg OIffiGO?INjTHURSDAY, ' JANUARYj-11 1900.- A" DAY OF EULOGIES Tribute to the Memory of the Late Vice-President ADDRESS SY SENATOR DEPEW Word of Praise Prom Leading 31cm- "bers on. Both. Sides of the Senate. WASHINGTON. Jan. 10. Beatitiful and Impressive tributes were paid by the sen ate today to the memory of the late Vice-President Hobart. His intimate per sonal relations with many senators and; Ills close official affiliation with all or them rendered his death a distinct loss to every member of the body, as well as to the country. It was In commemora tion of his Illustrious career and of his tnany distinguished services and of his private character that the senate set apart the session today for the pronouncement of eulogies upon him. Personal frlenca and associates and party friends and party opponents joined In paying such sincere and eloquent tribute to the mem ory of Mr. Hobart, to his character and public services, as have seldom been paid to any public man. Addresses were de livered by Senators Sewell and Kean, or IS'ew Jersey; Taniel, of Virginia; Depew, of New York; Cockrell, of Missouri; Cui- lom, of Illinois; Davis, of Minnesota; Mor gan, of Alabama; Chandler, of New Hamp shire; Lodge, of Massachusetts; Caffery, of Louisiana, and Allen, of Nebras'ka. Early la the session Hale of Maine In troduced a resolution of Inquiry, ad dressed, to the department of state, as to the seizure of American flour by the Brit ish authorities, which aroused more than "usual interest, because of Its attitude toward Great Britain. It was not acted' upon. The Proceedings. Prye (rep. Me.) laid before the senate at the opening today the report of the secretary of the treasury as to the deposit of internal revenue funds In national banks. It was referred to the finance committee and ordered printed. Hale (rep.-Me.) offered -a-resolution call ing on the state department for informa tion as to what had been done regarding the seizure by Great Britain of American products at Delagoa bay. The resolution declared the property was now detained unjustly, and without warrant. To the statement that the property was unjustly detained, Piatt (rep. Conn.) took excep tion, believing it ought to be modiflec Hale said the resolution presented a mat ter of vital importance, and believed Great Britain ought to be informed of the senti ment In this country. On objection by X-odge (rep. Mass.) the resolution went over. Butler (pop. N. C) offered a long reso lution on trusts and gave notice of a. speech later. Sewell (rep. N. J.) then called up the resolutions he had previously offered, pro viding that the business of the senate tie suspended in order that the distinguished public services and private character or Mr. Hobart might be fittingly commemo rated. Sewell addressed the senate in a beautiful tribute to the dead statesman, "With whom his personal relations covered a period extending from early manhood. He spoke of events In the late vice-president's private and official career, and of the characteristics which had endeared him to the people with -whom he had come tn contact. Daniel (dom. "Va.) followed Sewell, re fecrlng eloquently to the roll of Illus trious men who had filled the position 01 Vice-president of the United States. Senator Depew's Address. Depew (rep. N. T.) paid an eloquent tribute to the memory of Mr. Hobart, who was a. long-time personal friend. Depew, "Rho thus addressed the senate for the first time, was at his best In voice, and his oration was listened to with deepest at tention. He said: "In mldocean, on one of the great steam ships, some years ago, a gentleman ex tended his hand and said: 'I am Garret A. Hobart, of New Jersey. I know you, ana want you to know me. Afterwards, in the confidences of fellow-passengers on the sea, he said: 'The value of success Is not so much in the things It enables you to do, as the consideration It gives you in the minds of others. I have heen successful, and I want that understooa and appreciated. In this Incident cama out the character of the man - The fresh ness, the frankness, the unspoiled joy ot the boy, as happy over the things whlcn gave pleasure and Importance to his friends, as he felt sure they would be over his own advancement. "The financial distress which caused hard times in 1891 and 1S53 produced a Widespread spirit of pessimism and de spair. It resurrected the question, Us life worth the living?' wjilch.had been dis cussed nightly .at Athenian .dinners In tne time of Plato and Socrates. The doubt is not American. Its most emphatic ar firmation is evidenced in the life and ca reer of our friend. He was an illustration of what is possible under American con ditions and with American opportunities, with equal laws for all, and no class or privilege barring the way to the highest places in the land. At 19 he was a grad uate, of Kutgers college, and ior six years teaching school and studying law; and at 25 he was called to the bar, andbegan bis battle with and in the world. "Without . money or influence, but with brains, edu cation, heaitht industry and character, his was the typical beginning of most of tne youth of our country His confidence in himself and his future led to an early mar riage, and an Ideal domestic life. At 55 he was among the foremost citizens of his state in every department of Its activities. He was a leader in his profession of the law and of his political party; he had been repeatedly honored by his fellow-citizens in positions of trust and power; he haa accumulated a fortune, and was vice president of the United States. "The idle and the Incompetent will find no comfort here for their favorite theory that life is luck. He had the good for tune to be descended from that mlxea Dutch-English ancestry, which ha& the in spiration of glorious traditions of civil ana religious liberty, of literature and adven ture, of art and arms, of Indomitable en durance, of conquest over all obstacles and of strenuous endeavor, which no difficulties can discourage. It was his happy lot to liave his career to work out In this repub lic, and in the latter half of this marvel ous 19th century. With these advantages, common to millions, fortune withdrew her assistance, and the bnlllant example wo contemplate was the result of the energy and anility of this fine specimen of a seir-made man. At the threshold of his career, by pro fession and membership, he proclaimed himself a Christian, and as he began, so he continued until his death a consistent child of the church. His was not the re ligion which in Jonathan Edwards' perioa filled the churches with terror and emptied their pews, but the religion of the Evan gelist Moody, which rests upon the golden rule. Preferring always his own way, he recognized, with a broad charity, that the paths pursued by others led to the same heaven, and could be more easily trod by them. He had no aggressive faith which fought on dogma other creeds and sects, but he was at all times active :n the good works which are common to an creeds and all sects. "The scholar in politics Is the familiar theme for academic discussion. His duty to participate all admit, his usefulness is often doubted. He too frequently lacks that touch with affairs and knowledge of men which are necessary, to gjve him the weight in party councfts. "due. tp his char acter and culture," - The -business man hV polities is the hope bt the present and future". The measures we carry here aro reflected m the markets of the world, ahd react upon the farm, the factor', the furnace and the mine. Their Influence for good or evil Is felt in every nome. They tie government and its poli cies so closely to the manufacturer, mer chant, farmer and mechanic that business ls politics and .politics Is business. Men of fortune or of large affairs often affect contempt for those In public life and de-nounco-wlth unbridled license the conduct of national, state and municipal matters. ihey complain bitterly of taxes and the burden of government. They are entitled to no sympathy. They are suffering. If a,t all, from their own want of apprecia tion of their duties as citizens and of pat riotism. " "Mr. Hobart was, during his whole ca reer, the lawyer and man of business, who Jkpenly understood , and laboriously lived up" to "a "high ideal' of citizenship. His party .found him at .the , caucus and at lie?pbTis. "He had "tlmVfor conventions and public meetings. He could promote the best interests of his state by service In Its legislature, or remain in retire ment while working diligently for the nom ination and election of those best fitted for the offices to be Tilled. Charles James Fox- said Iff EdmundBurke, that 'he was right, but Tight tod soort.' His speeches emptied the house of commons in his time, but In our day are text-book and manual for British statesmen. -Statesmen and re formers of this prophetic order sow the seed, but they do not govern. Wendell Philips, Lloyd Garrison,1 Lovejoy and John Brown created conditions which made It possible for Lincoln to act. Successful leaders grapple with the work-a-day el6 ments about them, and combining the con science and Intelligence of the hour, solve the problems which more immediately con cern their constituents and their country. The vice-president was of this class. Ho was not troubled with Illusions, nor bound by theories. He pitied the man who per petually longs for the good old times and mourns the decadence of the present, and sympathized with the 'far "more Useful one who is providing for the unborn millions of the coming century. His lot was with neither. Acute questions, financial, indus trial, international or moral, are always knocking at the door. Their settlement is vital to the position of the country among nations, or to the comfort and happiness of Its people. Mr. Hobart was not a state builder nor a prophet, but he was among the master workmen who, as the years go by, slowly perfect the structure of gov ernment hy providing for its present needs, and are digging trenches or leading the as sault against those who would destroy It. "The Joint Traffic Association was a conference of the 37 railroads which carry the traffic of the country between the in terior and the Atlantic coast Their quar rels and rate-cutting Injured their invest ors, demoralized business and promoted trusts. The members were not capitalists nor speculators, but the hard-headed and able managers of these corporations who had come up from the ranks and adopted the operation of railways as both a career and a profession. Their efforts to cure the evils of the situation were doomed, to fail ure from the jealousies of large companies and the fear of small ones and the lack of any power to enforce their agree ments. By unanimous -vote they selected G. A. Hobart as arbitrator. The questions submitted to him involved the revenue of the disputants and the movement by one route or another of a vast volume of freight No judge ever held office by so precarious a tenure or had to decide more important matters. The defeated litigant could refuse to submit, or, by carrying a charge of injustice, unfairness or In capacity Into the governing body, compel a resignation. AS chairman of the asso-olntlon- T was brought- in frpnnent contact Ith him, his work and Its dlfflcultfes. He administered that judicial responsibility for three years, resigning during the first years of his vice-presidency. There could be no more significant tribute to his un failing judgment, tact and character than the remarkable fact that there was never an appeal from his decisions, nor com plaint of their fairness and justice. 'In this demonstration Is ifound the secret of his success, "yery many In our country rise, by their own exertions, from nothing to affluence. The rapid evolutions caused by steam, electricity and invention, give numberless opportunities for the far-sighted and cour ageous to seize the hand of fortune be fore their fellows know of her presence. These capable men of affairs are of two classes the class who make what otheis lose and the class who benefit their asso ciates or the community or the whole country by the developments they promote and the enterprises they create. The first are the pirates of society and of businsss. They are the fathers of communism and the foster-fathers of anarchy. The others are among the benefactors of their time. It was the characteristic of our friend tha t, possessing the far-sighted faculty, and having the sense and training to keep the curbof caution upon the promptings of acquisitiveness and Imagination, he drew a large circle Into his plans and ail -shared in the profits of his undertakings. "The founders of the republic meant to provide for a successor to the president who should be equally worthy of the chief magistracy. But the machinery they de vised gave the vice-presjdent no voice in the government, and created an inevitable antagonism between him and the presi dent It revived in a form the old historic struggle of the able and ambitious heir for recdgnltlon and Influence In affairs of state. The contest began during our first administration. Confidence and cordiality were impossible between the self-centered Washington and the Imperious Adams. With Adams and Jefferson was the mu tual repulsion of the Puritan and the Cav alier. In Jefferson and Aaron Burr the revolutionist was seeking to destroy the patrlpt. The practical -Ja'ckson and the Philosophic Calhoun were soon at war. The man of action threatened to hang the theorist If he carried his Ideas to their logical conclusions. With the growth of the country, the strength of parties and thelr internal dissensions, the vice-presidency was thrown to the friends -of dis appointed candidates and at disaffected states to select the nominee and be ap peased. Fillmore and Arthur discarded the friends of the dead president, and Tyler and Johnson reversed their politics and policies. The power in control at the White House and In congress sought to minimize the vice-president and make him obscure and Innocuous. "Happily for Mr. Hobart there was no conflict over candidates in the convention which nominated William McKinley. The partisans of defined policies had selected him as their best exponent In advance. There were no disappointed and vengeful Interests tc be reconciled. The choice set tled upon Hobart as the most fit and avail able running mate for the Ohio statesman. Coming thus Jinto this high office, his talent of common sense, and his charm of. personality made him, from the begin ning, the friend and chosen counsellor of. the president He lifted the office out of the rut of conventionality and possibility to a position of dignity, usefulness and trust He won the warm, affection of his party associates and the esteem and re spect of his party antagonists. He had the, fadulty pf the "wisely busy man of 'al ways having plenty of time, and that he shared with his friends in that hearty and healthy companionship which has made his name a hospitable memory at the capl- I ioi. unougn ne aiea in nis prime, with apparently years of usefulness before him. yet his was a full and rich life and a nobly rounded career. It is fitting that such a man should fall in battle with his aimor on. The conspicuousness of hfs departure gives luster to his example. Statesman, citizen, husband, father, friend, the sum Of hie worth among us Is that he per formed, with faithfulness andfidelity, with conscientious care and magnetic ardor, ail the duties of public and private life." Demonstrations of approval by the oc. cupants of the galleries greeted Depew's speech. Other Tributes. Cockrell (dem. Mo.) was the fourth senator to eulogize the dead vice-president His busy. Industrious, honorable and successful career, said he, can, well be held up to Inspire the. youth of -our country. It is not detracting from any of his predecessors to say that he had few superiors in his office. Cullom (rep. III.) Said: "Mr. Hobatfs life was stainless and his whole career contained nothing which, dying, he could wish to blot out. His loyalty to his friends reached In Its intensity the point of genuine chivalry. He built up a repu tation for simple, honest performance of duty, which all of us may well emulate." Scholarly ahd eloquent was the tribute paid to -Mr. Hobart's memory by Javia, (rep. Minn.). He regarded Mr. Hobart as a man of very simple character, but that character was beautiful, strong and consistent As the presiding officer or the senate, his work was marked by great alertness of perception and thorough knowledge of Situations and of men. Morgan (dem. Ala.) pronounced Mr. Ho bart's a perfectly rounded American char acter. Mr. Hobart's death he regarded as a public calamity, because the government lost-thereby, .the great balancing power or his ability and genius -in the office of vfce-, president. Chandler (rep. N, H.) said Mr. Hobart was never weak nor undecided, and in strength of character "he 'was, one of tne greatest of men, yet his perfect geniality renqerea mm tne choicest Qf comrades, and one of the sweetest and dearest of friends. Lodge (rep. Mass.) spoke strongly and effectively of his relations with Mr. Ho bart. Caffery (dem. La.) regarded Mr. Hobart as an Ideal presiding officer, absolutely Im partial and animated only by the highest motives. No more kindly or courteous man ever presided over a deliberative as sembly in the United States. Allen (pop. Neb.) said It afforded him a mournful pleasure, notwithstanding po litical differences, to testify to his regard for Mr. Hobart He regarded him as honest, faithful and of eminent character. The concluding address of the day was delivered by Kean (rep. N. J.), who sala Mr. Hobart had not only the desire to De useful, but he knew how to be so by the shortest course. Loyalty was one of his strongest characteristics, and to his coun try and to his friends he gave his timt and best abilities. No question was ever raised as to his honesty and deflnltenesrf of purpose. He made friends easily, ana as easily kept them. At the conclusion of Tfonn's nnlnirv of 4:35 P. M., as a token of additional re- J spect, tne senate adjourned. IN THE 'HOUSE. Eulogies on the Life and Services of the Late Representative Greene. WASHINGTON, Jon. 10. Miscellaneous business of minor Importance occupied the attention of the house today until 10 o'clock, after which an hour was de voted to eulogies upon the life and public services of the late Representative Greene, of Nebraska. The house then adjourned until Friday. When the house met, the order for eulo gies upon the life, character and public services of the late Representative Dan- ford, of Ohio, set for tomorrow, was va cated, owing to the inability of his suc cessor, Mr. Gill, to be present. A resolution by Tawney -(rep. Minn.) calling upon the.secretary of the treasury for information as to the states in which oleomargarine Is shipped and distributed, the amount in pounds, and the number of licenses for its manufacture, was adopted. The remainder of the session, after that hour, was devoted to eulogies upon the life and public services- of the late Repre sentative Greene. At 2:10 P. M., as a fur ther mark of respect the house adjourned until Friday. - . EXTENT OF THE CUSTOMS LAWS." ' House Committee to Ascertain the Meaning of Term "United States." WASHINGTON, Jan. 10. The ways and means committee of the house held a meeting today at which an important res olution was adopted on motion of New- ( loauo vri. iicvuuo, aa i.iruirw&. J -t "Resolved, That a committee of five be appointed by the chair to report the au thorities and the law as to the meaning of the term 'United States' In that provis ion of the constitution which declares that 'all duties on imports and excises shall be uniform throughout the United States'; that is, whether it Includes sim ply the area Included within the bounda ries of the states, or whether it covers also the territories belonging to the United States.' Chairman Payne appointed Dalzell (rep. Pa.), Grosvenor (rep. O.) and Hopkins (rep. 111.), and Richardson (dem. Tenn.) and Newlands (sii. Nev.). This resolution was the outcome of con siderable discussion in the ways and means committee, covering several meet ings, as .to whether the customs laws of the-United States were not "extended td our possessions when they became United States territory. The Immediate cause of its adoption was a resolution to extend the customs and internal revenue laws of the United States to Hawaii, which it has under consideration. THE FLOUR SEIZURES. Hnle's Resolution Calling on the Sec retary of State for Information. WASHINGTON, Jan. 10. Senator Hale, of Maine, today offered the following res olution regarding the alleged seizure of American flour by the British govern ment: "Whereas, The property of eitlznna nf the United States not contraband of war ' nas Deen lately seized by the military au thorities of Great Britain near Delagoa bay, South Africa, -without goqd reason for the same, and contrary to the accept ed principles of International law; and, "Whereas, Said property 13 now uhjust ly detained by the military authority of Great Britain in disregard of the rights of owners-6f the same; therefore, be It "Resolved, By the senate of the United States, that the secretary of state Is here by requested to send to the senate all in formation in possession of the state de partment relating to said seizure and de tention, and also to inform tha senate what steps have been taken in requesting the restoration of property taken and de tained as aforesaid, and whether or not the department has Informed the proper British authorities that if said detention is persisted in such act will be considered as without warrant, and offensive to the government and- people of the United States." Explained Alaska's Needs. WASHINGTON, Jan. 10. Governor Brady, of Alaska, and a delegation from Cape Nome appeared before the house committee on public lands today. The governor spoke on general conditions in Alaska, and in particular urged the ex tension of the general land laws to the territory. The members of the Cape Nome delegation pointed out the present land conditions in the gold country, in some cases pipes are run down half a mile out frQm the shore and the rich sand brought up, making it likely that the land laws will have to' be made to apply to water privileged. The committee took no action, except on private bills, but the discussion indicated that Chairman Lacey's bill extending the land laws to Alaska would be favorably reported later. To Destroy the Trusts. WASHINGTON, Jan. 10,-Senator But ler today Introduced a. resolution declar ing" the "duty, power and purpose of "the government to destroy trusts by remov ing the causes that produce them." The plan proposed is to control the issuance of money and to control the railroads and telegraph and telephone lines by the gov ernment when the resolution sets forth "the three greatest trusts for evil known to civilization will have been destroyed and at the same time the causes which have- logically -and inevitably produced, the aggregation of great -industrial trusts "will be forever-removed and the-reign of mo nopoly will -be at an end.''- J GAGE GIVES HIS REASON WHY GOYEnNaiktf'T FUNDS were DEPOSITED IN NEW YORK BANKS. Withdrawn of the Money From Cir. r, culatlon Would Havo Disturbed Business Action Authorized. WASHINGTON. Jan. 10. Secretary Gage today sent to congress his replies to the resolutions recently Introduced in the senate by -Allen and in the hoUse by Sul zer of New York. The text of his reply, which Is an exhaustive exposition of the management of that brahch of the treas ury flri.an6es under his administration re lating to national bank depositories, con tains about 9000 words, which js supple mented by special reports from depart ment officials relative to the special in quiries in the resolutions. Including copies of over a thousand letters on the subject under consideration-. In -summing up his reply to the inquiries, the secretary says: "First That the reason for utilizing na tional banks as depositories for public moneys, as authorized by law, when the recelptB of the treasury were exceeding its expenditures, has been to avoid dis turbance to business which the with drawal of large sums ot mohey from ac tive circulation to the treasury vaults must inevitably cause. The policy thus pursued by me has been the established policy of the government for many years, and departure from it under similar con ditions would certainly cause disastrous results. "Second The reason for directing the Internal revenue receipts, into depository banks at this time Is that the revenues are now largely exceeding disbursements from month to month, and are likely to do -so for an indefinite time. This condi tion would be a menace to the business world If thoassUrance were, not given that this-surplus would be diverted from the treasury vaults to public depositories, where, while secure to the government, 1 It would remain available to the busi ness world. "Thlrdr-The reason for directing all In fernal revenue receipts to one depository was that it was more convenient to col lect the receipts of one office in one place and make the desired distribution from it than to give instructions daily to 113 col lectors. The most convenient agency to effect such distribution is a bank which is a hiember of the New York clearing house. ''Fourth Tho reason for selecting the National Glty bank ns such distributing agent was that at the time the order was issued it was one of but two banks which had offered bonds sufficient to cover the amount of the daily deposit. Its bond deposit was $4,000,000, and: thaftof the Hanover bank $1,950,500. The National City bank was therefore the one most naturallychosen. Of tne 68 banks applying for rrshare.'HJfjthe deposits, the National City Bank; th6Hanover National bank and three other-applicants for over $S,WW,000 each are the only ones out of the 68 con stituting the group which have not been supplied the full amount for which they had offered security. "Fifth The custom-house property was sold to the National City hank, as the highest bidder, on July 3, 1829. Under the terms of the sale It had the option Of paying-In-cash-all-of-the purchase money at. any .time, or. any part lt might elect above $750,000, which sum It was absolutely obliged to pay. -It exercised this option by choosing to pay $3,215,000, leaving 550.000 yet due. No deed will be executed until full payment has been made. The pay ment leceived was turned into the treas ury under counsel of the legal advisers, supported by decisions of the ; supreme court, to consider moneys on de posit to the credit of the treasurer 01 tne United States in designated depositories as money In the treasury. This deposit was made in the depository bank for tho same reason that other deposits have been made In them, viz.: Because to withdraw currency into tho vaults of the treasury, where It was not needed, and could not be utilized, would have required a withdrawal of credit that was being expended in commercial circles, and to that end a disturbance to the natural order of business would have followed. To have required its payment by the National City bank to another des ignated depository would have been an ungracious discrimination without sub stantially changing the fact. "Finally, under my administration of the treasury department, no discrimina . tlon in, favor qf one. bank against another has been made. Generally fapeaking, when an increase in depository banks was de sired, all have been invited to qualify themselves for receiving such money and have been equally and equitably consid ered in their respective relations to the treasury." Before proceeding to respond to the res olution specifically, Secretary Gage gives a general review of his whole course In the branch of public finances concerned with national bank depositories as follows: He notes the provisions of the statutes which make "all national banking asso ciations designated for that purpose by the secretary of the treasury, depositories of public money except receipts from cus toms, under such regulations as may be prescribed by the secretary." Thatistatute became a law June 3. ismi anthats jurst marked recognition was In the refunding operations of 1S79, when Secretary Sher man thought It necessary to place with national bank depositories sums of money which reached a3 high as $279,544,G45. Sec retary Fairchlld, In 1S87-8S, during a period of 'abnormal receipts of revenue, Increased the number of depository banks and al lowed such banks to accumulate balances reaching $61,50,000. March 1, 1897, there were 159 national bank depositories holding a total of $16,19S,410. With few exceptions these Institutions received deposits from internal revenue collectors and remitted to the subtreasurles any surplus? over the amount of the C per cent balance which they were permitted to hold. The amount of public deposits remained about the same during the first six months of this administration. In November be gan those large payments which resulted from the highly successful settlement of the Union Pacific railroad indebtedness, payments aggregating $58,448,223. It was thought expedient, as a part of this enor mous transaction, to utilize for a few days the services of depository banks, with the result that at the end of December, 1897, such deposits had Increased to $49,182,717. The reason for this action was to avoid the Injurious effect on trade and industry of a too sudden withdrawal from public uSes In the vaults of the treae3ury of so large a sum as $58,000,090 By the end of May, 1898, these public deposits had been reduced to $28,239,359. Soon after this the government was con fronted with the necessity of raising im mediately a large fund' for war purposes, and, acting under the authority of the war revenue act, the people were called upon to subscribe to an issue ot $200,000,000 of bonds. The day tho books were opened the National City bank, of New York, and Its associates, offered to take at par and accrued interest any portion of the bonds that might not be subscribed for by the public, and the same day, J. P. Morgan & Co, ahd their associates, numbering 15 of the greatest financial houses of the country, also subscribed to the entire issue of $2QO,000,000 or apy part that might not be subscribed for by the general public. It wilL be readily recognized that the ab sorption of $200,000,000 within the space ot a few weeks could not fall to disturb most seriously the general business of the coun try. The secretary of the treasury feels some measure of just pride that the finan cing of the war loan of 1898 was accom plished without the slightest Interruption to the revival of commerce and tf Inrhm- trles- of- the country fvhich has made the present -a perlpd of; .unexampled prosperity. By the tend of 1898 the number ot na- tionaj bank depositories had been increased to'316, located 'hr 43 states and territories, and holding $94,860,000. With a view to securing a more suitable distribution or the funds, the secretary early in 1899 des ignated 40 or 50 additional depostories, and while thus Increasing the deposltbriea out side of New York city, he at the eamo time drew down the balances In the New York banks. With the beginning of the present fiscal year the, treasury was feeling the Influ ence of the revival of commerce. For the six months ending with December SI, 1899, the excess ot receipts over expenditures aggregated $21,026,000. This absorption or money from an active use into the treas ury, where It could serve no present useful purppse, was a source of apprehension to the public, and of anxiety to the depart ment The situation was intensified by the fact that the fall movement of cur rency to the Interior for the movement of crops operated to reduce tho cash re serves at all commercial centers. Tlio secretary was Indisposed to increase de posits In public depositories, and Jn order to avoid that he offered to anticipate in terest on the public debt, and later offered to buy $2o,000,000 of bonds. The movement toward stringency in the money market had assumed too great a momentum to be averted by such means. December 18 a financial panic occurred. Prices of Investment securities fell ruin ously. Interest rates rose to fabulous figures, and a general constriction of tne money market was apparent. While tnis state of affairs found lt3 most violent ex pression In the security market, it excitec. a state of anxiety and alarm throughout the industrial and commercial communi ties. The situation was believed to be so grave as to justify the utmost inter ference. . The receipts of the treasury for December, it was perceived, would exceed the expenditures by $7,000,000 oc $8,000,000. Under these conditions, a peculiar responsibility was thrown upon the treasury. The statutes conferred authority to place public money, except customs. In designat ed depositories, and gave power to relievo tho situation without possible prejudice to the treasury's needs. It was, there Jforet announced December 18 that the sec retary would deposit Internal revenue col lections with .depository banks to ihe amouht.of $CO(000,000 , on. $40,000,000, should s6 anuchbe applied for. " -, ,' "From this point on the secretary makes direct answer to the congressional Inquiry. His- principle of action has been so to manage the receipts and expenditures aa to produce the least disturbance In that part of the money supply which must be at the service of commercial and indus trial use.. Since" June 1, 1S9S, the receipts of the treasury h&ye amounted to $1,100, 000,000. Bytbe aid of depositories, tho amount in th'e treasury at the close of any quarterly period during the time never rose more than $29,500,000 above the aver age for the whole period. Tables pre sented show that substantial equilibrium was maintained at all times between tne relation to the supply of money in tn treasurr and the supply in commercial uses. . , Taking up tho, history of the. govern ment's connection with the Hanover Na tional bank and the National rtv hnmr specifically Inquired into by the resolution the secretary shows that the National City bank was appojnted a'deposltory July 21, 1S94. It was used as a depository for Interna; revomle collections until the bond sale In 1895 when the then secretary or liio treasury deemed it advisable to use that bank, together with four others, as depositories, and about $23,000,000 was de posited with those banks. When another Issue of bonds was made in February, 189G, the then secretary of the treasury again used the- National City bank and tne Hanover bank as depositories, each for nearly $10,000,000. Late In 1897, more than $58,000,000 was to be paid lnte the treasury as the result of the Union Pacific settlement. To avoid the transfer of so large a sum from pub lic uses to the treasury vaults, the New York banks were Invited to qualify as temporary depositories. Eight banks so qualified, the National City for $24,000,000 and others for smaller amounts Thto f deposits were gradually withdrawn by .luuamr io me suotreasury, until the small balances were finally discharged When the $200,000,000 war loan was made it was seen that the paying into the treasury of such a sum could not be otherwise than a dangerous thing fpr the public interests and a useless thing to the government finances. The treasury an nounced to the national banks Its de sire to place temporarily on deposit a por tion of this amount, and all banks', with out regard to size or location, were in vited to qua'Ify as temporary depositories. All applications were accepted. None was refused. The National City bank denoslt- ed $14,000,000 of bonds, and the balahce3 paid on this account never exceeded $14, 000,000. The Hanover National bank depos ited $11,000,000 of bonds and received a balance never larger than $11,000,000. The connection of the National City bahk with the sale of the oldcustom-hoUse property In New York is described In a memorandum prepared by the supervising architect's office. In that connection, how ever, the secretary calls attention to the allegation that ho has violated the law by depositing the proceeds In a bank de pository, when the act decreed that the proceeds should be deposited "In the United States treasury." Every United States depository bank is, within the meaning of section 5153, of the revised statutes, a part of the United States treasury. The moneys which may be de posited in such a bank include all classes of receipts, except customs, and when such moneys are deposited in such a bank to the credit of the treasurer of the United States they are "in the treasury" just as much as If they were physically on deposit la the treasury at Washington. The secretary cited decisions of the su preme court, which establish beyond ques tion the legality of his action. Letters from men of 30 or 40 years' service In the treasury are quoted showing that money in a depository bank Is as much deposited In the treasury of the United States as when deposited In any sub treasury. The customs property was sola July 3, 1899, to the National City bank for $3,265,000, which amount was $190,000 larger than that tendered by the next highest bidder. August 28 certificates of deposit were forwarded to the department covering $3,210,000 credit as proceeds of the custom-house property In the general account of the treasurer with the National City bank, a depository bank. "The treas urer duly accepted the Tunds as a deposit In. the treasury." It was subject to his jurisdiction and. orders. Subsequently, the National City bank was ordered by the treasurer to transfer to the sub-treasury and other national bank depositories sums aggregating $3, 800,000. No rent has been paid to the National City bank for tho government's occupancy for the reason that such pay ment awaits appropriation by congress. The correspondence between the depart ment and the National City bank is quoted, showing the refusal of the depart ment to give-tho National City bank its full balance of $4,000,000 except concurrently with all other banks in the first jttoud. the balances of the National City bank and the Hanover National bank being built up pro rata with all other banks. Tribute to the Philadelphia's Heroes., WASHINGTON, Jan. 10. By the terms of a joint resolution Introduced In the sen ate today by Turner of Washington, the secretary of the navy Is authorized to erect at the naval academy at Annapolis a marble monument to the memory of Lieutenant Philip V. Lansdale, Ensign John R. Monaghan and the men who lost their lives in battle with the Samoans In April, 1899. The resolution appropriates $5000 for the monument, and provides that it shall be suitably inscribed. Officers of the Senate. WASHINGTON, Jan. 10. The republi can senators held a caucus today to con sider the subject of electing 'officers of the senate. There was a general Interchange Of dplnloh regarding the matter, and an adjournment was taken until Friday, the 19thj when it is expected some action will b takeni remn use your Peruna medicine in my family for colds and it has proved to be an excellent remedy. " Ask your druggist for a free Pe-ru-na almanac for the year 1900. FOURTH DAY ON THE STAND WHITESIDE STILL TESTIFYING THE CLARK INVESTIGATION. IN Ex-Senntor. Faulkner Is Not Through, With Him, and Will Try to Impeach His Testimony. WASHINGTON, Jan. 10. The senate committee on privileges and elections held only one session In its hearing In the Clark senatorial election case today. Ex State Senator Whiteside, of Montana, was tho only witness. It, was the fourth day of tho examination. 'When the committee adjourned, at noon, Faulkner announced that he had for the present concluded the cross-examination of Whiteside, but that he would ask for his recall later, In order to propound pertain questions which he was not yet readjjlfto put, and upon which ho would undertake to Impeach his tes timony. Campbell; representing the anti Clark petitioners, also stated that he wished to ask a few more questions on redirect examination, and on this account It is expected Whiteside will be on the stand when thehearing Is resumed tomor row. y Ex-Senator Faulkner's effort today was directed toward entangling Whiteside up on dates and exact statements made as.to the transactions in connection with Clark's election to the senate, and he went fully Into the deposit money" by him. Faulkner brought oiSKthe fact that of the men to whom the wftness knew of his own personal knowledge that money had been paid, only two had subsequently voted for Clark, and that there was no clear understanding as t& the full transac tion with those two. Whiteside closed with tho renewal of his declaration that he believed himself to be serving the state of Montana In his present course, and with a review of the use of the money in state affairs which had incited him to it Ex-Senator Faulkner began the day's proceedings in an effort to break down the testimony of Whiteside, concerning the part taken by State Senator Clark, of Madison county, In exposing the alleged misconduct of his namesake in connection with the senatorial election. Whiteside repeated his statement that he had seen Clark of Madison go alone to the room of Wellcome, one of the managers for Senator Clark, and -also that Clark of Madison had asked one day to consider a proposition to enter Into an agreement to expose the alleged bribery proceed ings. He asserted that the suggestion that state senators' votes could be secured had not originated -with him, but with Wellcome. He said many of these points had not been touched upon at the legis lative Investigation before the grand jury because both these proceedings were com paratively brief. At Faulkner's Instance, Whiteside went over the details ot the transaction with State Senator Myers, who was onb of his associates In the alleged exposition, and also told again the circumstances under which the money was given to him. Both transactions had been conducted in the bathroom of Wellcome's room at the Hel ena "hotel. Whiteside also detailed some of the particulars of a visit he made to New York and Washington In February last year. He said he had met here, amortg others, Campbell, the counsel in the case, and Durston. He had not met them by appointment, but they had dis cussed whether they should make their disclosures to congress before the ad journment last March, or wait until the beginning of the present session. He and Campbell had been the most active agents in the present prosecution. Replying to a question as to whether the Daly faction had ever used money in pol itics, Whiteside said he did not know that charges of such use ot money by Daly had been made by the newspapers friendly to Clark, but that tha corrupt practices had begun in 1S93, when Clark was a can didate for senator, and had continued throughout the stato capltol fight, when money was poured out like water, and In the subsequent sessions of the legislature until last session, when the climax was reached. He had determined to do what ho could to put a stop to the practices, hence his activity n this prosecution. Faulkner then announced that for the present he had concluded his examination of the witness, but later, when his ques tions were properly formulated, he wodld ask to have him recalled, with a view of putting questions to be used as a founda tion of proceedings looking to the im peachment of his testimony. Will Vote on Roberts Case Today. WASHINGTON, Jan. 10. The Roberts Investigating cojnmittee met In executive session today to determine on the general features of the report, and. If possible, reach a final agreement. The committee was In executive session till 6 P. M., but failed to reach a final conclusion, and ad journed until 3 P. M. tomorrow for the purpose, at that time, of taking a vote. EXTENSION OF SHIPPING. Hcarlner hy the House Committee on Merchant Marine. WASHINGTON, Jan. 10. The repre sentatives of the shipping and shipbuild ing interests were given a hearing today by the house committee on merchant ma rine and fisheries on the bill "to promote the commerce and Increase the foreign trade of the United States and to provide auxiliary cruisers, transports and sea men for government use when neces sarv ." Ex-Senator Edmunds then sub mitted a general argument in favor of the measure. Mr. Edmunds said that one of the groat and fundamental principles of the bill was that it gave no scope for combina tions or syndicates of shipowners and no field for trusts, as its operation was open to all alike, and the advantages conferred were as free as the ocean Itself. He urged that if we are In earnest as to the exten sion of American commerce, some broad measure of this character could best aid In bringing about that end. Mr. Ed munds said discrimination was a remedy open to all nations. If begun by the United States, it would quickly be fol lowed, by our great commercial rivals, each discrimination being retaliated In kind on duties, harbor charges, etc., so that there could be no real remedy on those lines. Mr. Edmunds said another plan had been put forward by some opposing in terest, he. believed, perhaps- by some of the railways running through Canada, to tho effect that this hipping bill Old. not Wm M' Lord' saysi "T afford the real remedy, but that an expert bounty on corn, wheats etc., sent abro?i. would help the farmer as well as the vessel-owner. He expressed the belief, how ever, that such an enactment would be unconstitutional, being contrary to tho principles of equality. Messrs. Clyde. Nixon and Search also advocated the bill. Hearings will be con tinued, next Tuesday. For military Rule of Islands. WASHINGTON, Jan. 10, Representative Weeks, of Michigan, has Introduced a joint resolution reciting thunsettled sta tus of the peoples of the Islands ac quired from Spain and providing that f jr five years tho presidont. as commander-in-chief of the army and navy, shall con tinue military authority in said Islands,, and that congress shall deal with tho subject at the expiration of this period. In the meantime, it is set forth that reci procity reductions not exceeding 23 per cent may bo made on tho products of tho islands brought to this country. Four New Renr-Admirals. WASHINGTON, Jan. 10. The president today sent the following nominations to the senate: To be rear-admirals Henry L. Howl son, Albert Kautz, George R. Remeny, Norman H. Farquhar. Pension for Every Soldier and Sailor WASHINGTON. Jan. 10.-Senator Allen today Introduced a bill granting a .pen sion of 10 Mf month-to- srjt-sbldler and"" sailor who served in the civil war for three months or more. Woman Snixrapre Amendment. WASHINGTON, Jan. 10. Representa tive Shafroth, of Colorado, introduced a resolution presenting a woman suffraga amendment to the constitution. Dnily Treasury Statement. WASHINGTON, Jan. lO.-tfoday's state ment of the condition of the treasury shows r Available cash balance $2S5.063"Sl Gold reserve 233144.1J3 "He That Stays Does the Business Ml the vxsrtd admires" staying p&wer' On this quality success depends. The Hood is ihe Best friend the heart has Hood's SaTsaparSla is the best friend the Hood ever had; cleanses it of everything, gives perfect health and strength Come Just to See Elegant Premiums Given Free. 320 Washington St., Portland. 223 First St,. Portland. 115 Grand Ave B. Portland. Positively cured by tiieso "Little Pills. They also relieve Distress from Dyspepsia, Indigestion and Too Hearty Eating. A pet, feet remedy for Dizziness, Nausea, Draws!, ness, Bad Taste in the Mouth, Coated Tonguo pain in the Side, TORPID LIVER. They Regulate the Bowels. Purely Vegetable. 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