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About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (Feb. 29, 1908)
1 THE 3I0F.XING OREG ONI AN, SATURDAY, .FEBRUARY . 29, . 190S. 'S GURRENGY PLAN House Committee in Favor of Credit Notes and Guar anty of Deposits. RETJRE PBESENT CURRENCY Republicans Agree, Reserving Right to Differ on Details All Govern ment Payments to Be , Made Through Banks. WASHINGTON, Feb. 28. By a vote of 11 to 5. three members being present and not voting, the House committee on bann ing and currency today- authorized the chairman Representative Fowler, of New Jersey, to report to the House the Fowler currency bill with the recommendation Hint it be passed. The vote was cast as follows: Ayes Fowler (N. J.), - Prince (111.), I'owers (Me.), McMorran (Mich.), Weems (O.), McCreary (Pa.), Waldo (N. Y.), Hayes (Cal.), Weeks (Mass.), Durcy N. Y.), Gillespie (Tex.). Noes Burton (O.). Ollie James (Ky.), McKinley (111.), Lewis (Ga.), Crawford (N. C). Present and not votingT-McHenry (Pa.), Pirjo (La.), Glass' (V.). Mr. Weeks, In voting- for the favorable report on the "bill, reserved the right to oppose on the. .floor the cause providing for a Federal guaranty of National bank deposits. - Reserve Right to Dissent. Thoush the conclusion to report the bill favorably was reached as the result of weeks of hearing and exhaustive discus sion of its various provisions in executive session,1 the decision does not commit the banking and currency committee to its support on the floor of the House. Ten of the eleven members who vt-a for the favorable report reserved the in dividual right to oppose any section or to offer and urge any amendment w..en the bill is called up. A majority of the committee felt the necessity of getting tne bill before the House without further delay, so that its provisions as revised In committee may become a subject of open debate, both In the House of Representa tives and In the press of the country. Six Important Changes. The committee amended the bill in six of its salient features. The clause per mitting National banks to do a trust and savings bank business was amended by striking out the savings bank section. The clause making all of the National banks within ach of the proposed reserve dis tricts specifically liable for 10 per cent of the check and note liabilities of failed National banks within that district was revised to read 25 per cent. The bill, as originally framed, allowed efti-h National bank to take out National credit notes to the extent of 100 per cent of its capital stock with the approval of the Comptroller of the Currency and an unjimited additional amount with the ap proval of the Board of Managers of the rcserve district to which the bank' be longed. This provision was revised so that the total amount of credit notes Is sued to any. bank could not exceed 200 per cent of its capital stock. ' ' , Guaranty of Deposits. The- bill' originally provided that of the deposit guaranty fund to be created by a tax of 2 per cent on the credit notes issued. 80 per cent should be invested in United States 2 per cent bonds and 20 per cent should be held, in reserve. This is a gold fund. The bill as re vised stipulates the investment of the entire fund In United States 2s and fixes their flat purchase price at 104. which Was the average price for the month of February last. The revised bill, in order to carry out the bond currency retirement clause, pro vides that after the guaranty fund has reached the sum of J:i5,000,000. the Sec retary of the Treasury shall issue gold certificates to take the place of an equal amount of outstanding greenbacks. As the estimated annual tax on credit notes would be J14.000.000. about 14 years would be required frir the total retirement, of the country's present bond-secured cur rency after the guaranty fund reached the amount of J25.000.000. One of the most interesting provisions of the bill, as revised in committee, re quires the Government to collect its claims and pay its current expenses through the banks. That is, the Gov ernment would continue to hold In the Treasury the greenback redemption fund amounting to J150.000.000 and the gold certiticate redemption fund amounting to TS25.flOO.0O0, but its general fund for tho conduct of the Government would be kept on deposit in various National banks, subject to check; and Instead of paying out general moneys by voucher and Treasury checks, payments would be by bank checks. Democrats for Williams Bill. At the minority conference some weeks ago, which resulted in the introduction by John Sharp Williams of the minority currency bill, the plan was practically agreed -to- that the -Democratic members of the- banking and currency committee should at the. proper time make a mi nority" report offering' the Williams 1)111 as a substitute for the Fowler bill. This was to be tentatively submitted to a Joint conference to be held by the minor ity of the finance committee in the Sen ate and of the banking and currency committee in the House. That confer ence has not been held. The reason re ported is that the minority in the Senate has bound itself to the Bailey bill as a substitute for the Aldrich, and therefore is unwilling to confer with the House minority on the Williams bill. Ten days were granted by the com . mittee to the Democratic members in which to agree upon a substitute for the Fowler bill and to submit a minor ity report. What Bill Will Accomplish. Mr. Fowler tonight made public a synopsis of the committee report which he will make up and submit to the House. The synopsis claims for the bill that it will unify the banking interests of the United States; will secure a. uniform and adequate- reserve in gold coin to protect all bank credits and thereby protect the interests of all depositors; establish a scientific and simple monetary system; will give the country a true credit cur rency system, by which current credits will also Increase and decrease in strict accordance with the demands of business; will give to bankers, farmers, producers, manufacturers and merchants and to all others having bank accounts the right to have their credits in that form which will best serve their need; will give to the masses of the people Just as econo mical and cheap credits as the rich and powerful have; will establish a currency based upon the products of labor and redeemable In gold coin; will give to pro ducers and merchants the opportunity to coin thetr commodities into currency, which the banks will be compelled to redeem In gold coin; -will establish in the ADOPTS FOWLEH United States Treasury an approximate T . . 1 tnhAMU(A . . ...... I demptlon of these notes in gold coin and protect all depositors of National banks, thereby preventing panics and stopping the hoarding of money; will' completely divorce the operations of the United States Treasury from the trade and com merce of the country and thereby prevent continuance of a disturbing factor in the business of the country. HOUSE RAISES FAY' OF ARMY Rejects Provision for Joint Maneu vers by Majority of One. WASHINGTON, Feb. 28. Without a dis senting voice the House early in the day, under a special rule, restored to the Army Appropriation bill the provisions to increase the pay of non commissioned officers and men and to pro hibit the private employment of Army musicians for pay, both of which yes terday went out on points of order. The House took up an amendment of fered by Foster, of Illinois, appropriating Jl.500,000 tor joint maneuvers of the mil itia organizations of the several states and the Regular Army. It provokeu ex tended debate, Hull and Tawney leading in opposition. The latter repeated his recent warning that, if appropriations were not kept down the country would surely be con fronted with a large deficit. Against the amendment Holllday, of Indiana, was especially vigorous. He could see no war specter on the horizon now or in the dim luture. The country was in no danger from any quarter near "or 40,000 miles away." The American peo ple, he declared, were tired of jingoism, militarism and the effort being made to divert men from peaceful pursuits to enter the military establishment. He was roundly applauded when he expressed the conviction that the money could be bet ter expended in - giving employment to men out of work. v . The amendment was altered so as to limit the amount to $1,000,000 and as mod ified was agreed to. on division, 56 to 4S, but on the vote being taken by tellers it was lost, 59 to 60. COXEY BILXi FOR UNEMPLOYED "General" Proposes Bonds to' Secure '. Currency for Payment. WASHINGTON, Feb. 28. Mr. Brumm, of Pennsylvania, today introduced in the House a bill at the request of "General" Jacob S. Coxey, "to provide for public im provements and employment of the citi zens of the United States to encourage industry and produce prosperity, and to procure money to purchase and pay for public utilities, and for the redemption of 6aid money." The bill- provides that when there is a surplus production, with no demand for labor at living wages, states, territories', counties, townships, municipalities or in corporated towns and villages may, for the purpose of employing idle men and women on public works. Issue non-interest-bearing 25-year bonds not in excess of one-half of the assessed valuation of their real estate, these bonds to be depos ited with the Secretary of the Treasury, who shall issue Treasury notes on this se curity, the money so realized to be used in employment of idle persons at a minimum rate of $1.50 a day for common labor, women to be paid the same as men, and eight hours to constitute a day's work. The bonds are retirable at the interest rate of 4 per cent. DRUGS IX SMAMi QUANTITrSS Government Allows Them in Food, Pending Action of Experts. WASHINGTON, Feb. 28. The use in small quantities of benzoate of soda and sulphur dioxide as food preservatives will be permitted ending the' formal action of the referee board of. consulting scien tific experts, according to an order issued today by the Department of Agriculture. The decision follows; The question of the addition of food of minute quantities of benzoate of soda and of sulphur dioxide will be certified Immediately by the Secretary of . Agriculture to the referee board of consulting- scientific experts. Pending- determination by the referee board At the wholesomeness or unwholesomeoiess of these substances their use will be allowed unOer the following restrictions: Benzoate of soda In quantities not exceed ing one-tenth of 1 per cent may be added to those foods In which generally heretofore it has been so used. The addltjon of benzoate of soda shall be plainly stamped upon the label of each package of such food. No objection shall be made to foods which contain the ordinary quantities of sulphur dioxide if the fact that such foods have been k prepared is plainly stated upon the label of-each package. An abnormal quantity of sulphur dioxide placed in foods for the pur pose of marketing an excessive moisture con tents will be regarded1 aa lraudulent adultera tion under the food and drugs act of June 30, 1906, and will be proceeded against ac cordingly. - Food inspection decision No. 76. Issued July 13, 10O7, is hereby amended accordingly. BUILD TWO STEEL DRYDOCRS Rouse Committee Authorizes One on Each Coast. WASHINGTON, Feb. 28.-The House committee on naval affairs today agreed to an authorization for the construction of two steel floating drydocks capable of holding a battleship of 20,000 tons, one to be located on the Atlantic and the other on the Pacific, and also the estab lishment of a naval station and graving dock at Pearl Harbor. . LODGE BILL TO BE REPORTED Senate May Remove Restrictions ; From Philippine Trade. WASHINGTON, Feb. 28. A Senate com mittee today ordered a favorable report on the Lodge bill to remove the coast wise shipping restrictions from the Phil ippine trade between the Islands and ports of the United States. Insanity. Increasing In Alaska. WASHINGTON." Feb.. 28. Long Winters spent in isolated sections of Alaska have so greatly increased the percentage of insanity that the Senate today passed a bill authorizing large expenditures for the maintenance of the Alaskan insane. The 5 per cent of the license moneys col lected outside of the incorporated towns for road building, schools and the care of the insane has been found insufficient for the demands. Improve Navy Hospital Corps. WASHINGTON, r eb. 28. The bills to increase the efficiency of the Navy hospital corps by fixing the status of pay clerks as warrant officers and making chief pharmacists warrant officers were agreed to today by the House committee on naval affairs. Row Over Cards Proves Fatal. STOOKTON, Cal., Feb. 28.-Joseph Ford, who was shot last night at Tracy, by J. L. Hutchinson, in a row over a card game, died this morning at the Emergency Hospital in this city. Hutch inson is in Jail and will be formally charged with murder. - Senate Passes Indian Bill. WASHINGTON, Feb. 8. Consideration of the Indian appropriation bill and a speech by Smoot, of Utah, on the cur rency bill, consumed nearly the entire time in the Senate today. The Indian bill was passed. STRUCK BY 1J Causes Exposure of Bulldozing of Operators on Santa Fe Road. BLUFF CALLED BY KNAPP Inquiry Into Nine-Hour Law Brings to Light System of Intimidation of Operators Harriman's Man Is Flatly Contradicted. WASHINGTON, Feb: 28. A boomer ang was sprung by C. H". Gaunt, assist ant general manager of the Santa Fe Railroad, when he declared that he had letters from. 1400 telegraph operators on the system denying that H. B. Perham, president of the Order of Railway Telegraphers, was author ized to represent them before the In terstate Commerce Commission in the inquiry into the necessity for postpon ing the operation of the nine-hour law. He had no sooner made the statement today than Chairman Knapp interjected. Letters Obtained by Threats. "I have a score of telegrams from operators on your line which state that they signed such letters as you refer to under protest." "I would like to know," suggested Mr. Gaunt, "who they nre." "I cannot furnish you with that in formation," responded the chairman laughingly. Thereupon Mr. Knapp read two or three of the telegrams, which in ef fect stated that the signers had been threatened with dismissal if they re fused to sign letters, which were writ ten at the dictation of officials of the Santa Fe Railroad. Mr. Gaunt pre sented some of the letters which he had in hand, and Mr. Knapp inquired if they had been prepared by officials of the company. "They were not," replied Mr. Gaunt. The chairman then read a letter from an operator who said that he had been presented with a letter prepared for his signature by an official of the company. Perham Tells of Intimidation. Mr. Perham explained that he had in in. his possession letters from a thou sand or more men on the Santa Fe system authorizing mm to represent them at this hearing. He alleged that the Santa Fe endeavored to Intimidate its operators;- that operators had been discharged for trivial causes, among the causes being membership In the Order of Railway Telegraphers. He produced a telegram informing him that three operators had been dis charged because they had declined to sign a letter to the Interstate Com mence. Commission presented to them by the company. Mr. Gaunt explained that the Santa Fe . had had difficulty with the telegraphers' order because of the strike on the line several years ago and that, owing to that trouble, It is experiencing difficulty now in secur ing men to man its wires under the new law. Santa Fe May Close Offices. "Suppose you cannot get. the men," inquired Mr. Knapp, "what will you do?" "Close the offices which we can not man," replied Mr. Gaunt, "and in cur the additional hazard of operation. In the course of time we shall re open these offices, but it may take us six months." Hilary A. Herbert, ex -Secretary of the Navy, made an argument in behalf of the Seaboard Airline. He contend ed that owing to the financial condi tion of the road it could not comply With the law without embarrassment in its operating expenses. 'Dillard Flatly Contradicted. Mr. Dillard, representing the Union Pacific, stated that it would be impos sible for his line at various remote stations to supply accommodations to a third operator. Mr. Perham stated that he had re ceived information from points along the Union Pacific that it was entirely possible for the extra operator to be provided with the accommodations named by Mr. Dillard. E. L. Stump, general chairman of the Union Pacific telegraphers, also stated that accommodations could be furnished. APPOINTED. TO ANNAPOLIS Thomas L. Gatch Given Cadetshlp at United States Naval Academy. OREGON AGRICULTURAL COL LEGE, Corvallls, Feb. 28. (Special.) Thomas L. Gatch, a member of the sophomore class, received notice this morning from Congressman Hawley, at Washington, that he had been de clared winner of the competitive ex amination recently held at Eugene for admission to the Naval Academy at Annapolis. Thomas is a son of Claud Gatch, United States Bank Examiner, of Salem, and a grandson of ex-Presi-dent Gatch, of the college. He is a popular student and a talented young man. He left tonight for his home in Salem, whence he departs in a month for Annapolis for two months' pre liminary training and then entrance into the academy. OREGONIAN NEWS BUREAU, Wash ington, Feb. 28. Representative Hawley today appointed Thomas L. Gatch, of Salem, . son of Claud Gatch, as midshipman vat Annapolis Naval Academy. Mark G. Larky, of Salem, and William H. Perkins, of Sa lem, are appointed alternates. These appointments are the result of a com petitive examination held at Eugene, February -14, conducted by Senator Kuykendall and Superintendent Alder man. Gatch made the highest aver age in mental and physical examina tion, Lafky second and Perkins third. WILL BE NO QUARANTINE Wyman Hopes to Stamp Out Plague In California. WASWNGTOK, Feb. 28. In view of press dispatches on the subject, Surgeon General Wyman, of the Public Health and Marine Hospital Service, today an nounced that he has not thought that there is any danger of a quarantine in the State of California because of bu bonic plague. He said his officers had the situation well in hand and that rats were being destroyed In large numbers each day and that ultimately they would be exterminated in San Franclsc. GAUNT BOOMERANG Store Closes on Saturday at 6 Take advantage of the bargains offered during morning, if possible ; if not, shop before 6 o'clock on Saturday, for this establishment releases its employes promptly at 6 o'clock. Saturday Child's $1.50 women's Aiding boots, in patent or calf leathers. All sizes and five styles to choose from ; regular $12.00 and $15.00 grades, specially priced, to- tQ ff day at, the pair PZ7 JJ Vanity Bags These are in as sorted colors and styles, with strap at back or top. Colors are black, brown, navy, green, tan and red. You have c h o ic e of seal, long grain Moroc co, walrus and novelty leathers. These bags are regular $2 grades on special sale ..$1.48 Clothes Baskets, Af large size, each rUC Clothes Wring- ng ers, $3.00 vals ip.DU $1 Galv. Wash Tubs, q large size, special ... " C $1.50 Wash Boil- jq ers, copper bottonP Sleeve Boards, cial Saturday Clothes Lines of cot ton for Infants9 Diapers 60c Values at 19c Each A scientifically designed gar ment that buttons around baby's waist and fits snugly and securely around the legs. This diaper eliminates the danger of causing the child's legs to become misshapen or bowed. They are made of fine birdseye cotton. The regular values run to 60c each. Offered today special at 19 TEETH TO JAPAN SENDS CBTHSER TO IN VESTI GATE SEIZURE. Signs of Resentment at Capture of Tatsu Manx With Arms for Revolutionists. TOKlO, Feb. 28. The Japanese armored cruiser Idzuml sailed today from Shanghai for Hongkong, where, it is understood, she will investigate the seizure on Feb ruary 7 by the Chinese customs cruisers of the steamer Tatsu Maru. This movement is possibly intended as a demonstration against the Chinese offi cials, although the Foreign Office denies it has such an object in view, adding that negotia-Uons are proceeding at Pekln and that the Japanese flag has been restored to the Tatsu Maru. The whole question of the seizure of the Tatsu Maru, which carried a cargo of arms and other munitions, now turns upon the character of the merchant to whom the arms were consigned- It is be lieved that he is a sympathizer of the revolutionists in China, for whom the arms were possibly intended. The Tatsu Maru, a Japanese steamer, was seized by the Chinese customs cruis ers while anchored in Chinese waters off Macao. She was escorted to Canton by a cruiser and three Chinese gunboats. She carried several cases of rifles and thou sands of rounds of ammunition. This cargo, it is believed, was destined for Chinese revolutionists,, but was consigned to a merchant. JAP AX ADDS TO HER DEFENSES New Battleships and Fortifications in National Programme. VICTORIA. B. C, Feb. 28. Advices received - from Tokio in today's mail from a reliable authority, state that, despite the announcement made in the Japanese Diet that no new warships would be built this year, two large battleships exceeding the Dreadnought in dlspiacemcnt and armament will shortly be laid down, one at Kure, the other at Yokosuka. Material is now being assembled at the yards. An ocean-going torpedo destroyer of un usually large size is also being built. Admiral Baron Saito, In the naval sec tion of the budget committee, shortly be fore the steamer Alonteagle sailed, .report kf . ' mm -ivt a r SnwSSb5 Shoes, 89c Pr. Save 61c a pair on children's Kid Shoes, lace or button styles. The sizes run from 3 to 11.. Bring the little ones in and let us fit their feet perfectly with a pair of these shoes. Teach them where to coine for bargains by buying their foot wear here. Regular $1.50 on values, selling today for. . OiC WOMEN'S FRENCH HEEL SHOES in patent, kid or calf leathers. Regular $3.50 and $4.00 grades, on sale to day at $1.98 spe- 19c 10c Anti-Rust Wash heavy, worth $3.00 m B; : A sa 'fi ta Tr if t "W ih ,1.1 "iX, B I f TlOBMkNew Waists ed that new fort I float ions were con templated and two Core an ports were now being fortified. Extensive fortifica tions are being built at Ohing Hal Wan and Port lLazarleff. He reported that re pairs had been almost completed on five of the warships captured (ram Russia, the Nikolai I, Apraxin, Seniavlef, Orel and Variag, all now renamed. The Orel's repairs cost Jl.500,000, owing to the great damage inflicted on her. The armament was entirely renewed. The heaviest guns mounted on the ships were originally 12-Inch of 45-caliber, being re placed with 10-Inch of 60-caliber. Investigations were under way to test the suitability of the 13inch gun favored in England. The Progressist party Is criticizing the sums voted for Increased armaments and a strong attack was made by Mr. Olshl, the leader, on the large number of Jap anese troops still maintained in Man churia. In reply Viscount Terauchia, Min ister of War, stated "the Japanese gov ernment had no idea of resting content with the present condition of Manchuria, but hoped to see further substantial de velopment In its material resources." Fight In Mexican Railroad Camp. LOS ANGELES, Cal., Feb. 28. Ac cording to advices received today from the vice-president of the Slnaloa Land & Water Company at Cullaeao, Mexico, by E. 1. Marchal, of this cfty. one man was killed and several others were wounded in a row among Americans at Camp 30, along the new Slnaloa railroad on Wednesday. IS YOUR BLOOD BAD? Its cure will depend upon the medi cine you take. That Hood's Sarsapa rllla Is the right remedy Is shown by its thousands of cures of pimples, bolls, eczema, scrofula, psoriasis, and all other forms and conditions of blood disease. A medicine that has made such mighty cures must be the medi cine for you. Makes Weak Strong- "I would give to a bottle for Hood's Barsaparilla if I could not buy it for less. It is the best blood medicine. It makes the weak strong." Albert A. Jagnow, Douglastown, N. T. Worn Out "My son took Hood's Barsaparilla when he was troubled with a tired, worn-out feeling, and it has cured him. I believe Hood's has no equal as a tonic and blood purifier." Mrs. John Woolly, Sparta, Wis. Hood's Sarsaparilla In usual liquid form or in chocolated tablets called Snnatabs. 100 doses 1. XJ!aimu '' vfr' ' t r a ren Child Children s Hose at 25c Pair "Ironclad" Hose are named for the way they wear. Mothers who buy these stock ings spend less time over the darning basket, and save money besides. We recommend them for children who hard on stockings ; all sizes ; abso lutely fast black; the pair 25c BOYS' "MOTHERS' FRIEND" WAISTS Sightly garments, made in shirtwaist style, with attached cuffs. Come in light or dark colors, stripes, checks or plain colors. All sizes: the pair 50 to S1.50 CHTT.'D'R.'R'nT'f? TTOR-R fW MaMr rib; double heel, sole and toe; "f regular 25c value, today's price. Ironing Boards, ?Q worth 40c, for ...... C Clothes Bars, fold- ing style OUC Soap Holders, of j wire, forv . . C Clothes Pins, with spring, dozen OC Clothes Lines, for in- i doors . ; I...OC Ironing Wax, special a at C Iron Holders, of a asbestos Boilers, extra SZf ?6.0U $1.50 to $7.50 Charming models in the season's best styles of Lingerie Waists. Dain ily trimmed or plain, tailored effects, in large assortment. The best waist values we have been able to offer for many a season. Your inspection invited. Child 'n's Coats A special showing today of Chil dren's and Misses' Sample Coats. Plain or fancy materials. Priced from $5.50 to $12.50 TEA Tea is cheaper than water, if tea is comfortable and water is not. Tour grocer returns your money If you flon't llko. Schilling's Beat; wa pay him. A Thought That Saves Dollars Ton may be called upon to spend hundreds of dollars to eradicate disease in some one dear to you. Spend a thought in keeping disease away. As the Government considers Government inspection of such vital importance as to spend vast sums of money just to see that meat for the consumer is healthful and sound, the consumer should profit by the Government's precaution in his behalf, and eat only meat that is stamped "U. S. Inspected and Passed." , ASK YOUR DEALER FOR II Union Meat Company Wholesale Dealers in Government-Inspected Meats and ' "Columbia" Brand Ham, Bacon and Lard. THE PIONEER PACKERS OF THE PACIFIC. Ladies' Home Journal Patterns are the acknowledged style guides. The newest, the most reliable, most easily understood of any patterns made. 10c and 15c 9 s ay A C Men's Shirts A bargain worthy your a 1 1 e n tion. These shirts have cuffs attached and come in col o r e d ma terials, in striped or checked patterns. Spring d e s i g ns that men of good taste will wear. Regular value, $1.50 ea., special for today only, each. . $1.15 Williams' Sh aving Soap 3c the Cake Round cakes that sell regu larly for 5c each; special to day Pencil Tablets in large size, special today, 3 for 10 Nursing Bottles in 8-oz. size ; special at, each ....... .5 Writing Paper, of excellent quality, regularly 35c the box; special for today. .10 Complexion Sponges, of rub ber; 25c values; special 19 A Wise Woman wui errand -pxmtim wr iwaatr. A. flr baftd of hatr u one of tba tughet ch&rrat wwi irapMai "air Regenerator f ."V, 3 restores Grav or Bleached Hair tf rjf a"1' natural color. It is clean, dura ed. Sample of hair colored free rTJvacy assured. IMPERIAL CHEMICAL MF6.C0., 13$ W.Zid Stew York Son Martin. tZM -Wauiiastoa Street. D