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About The Sunday Oregonian. (Portland, Ore.) 1881-current | View Entire Issue (Jan. 26, 1908)
THE SUNDAY OREGOXIAX, PORTLAND, JANUARY 26, 1908. DEMOCRATS HAVE CURRENCY BILL Proposed Government Issue Money Direct to Na tional Banks. AND CHARGE v INTEREST Caucus of Democratic Senators Adopts Bailey's Scheme Aldrich I Completes Bill 'With. Conces sions to the Democrats. WASHINGTON. Jan. 25. An all-day conference of the remooratic Senators today resulted in directions to the minority-of tho committee on finance to pre pare a bill which -will be urged as a sub stitute for tho Aldrich bill- and possibly be Riven tho support of all the Demo crats of the Senate. The Democrats of the. finance coinmtitee will take no action ulonif these lines until the data requested of the Treasury Department by resolu tion and promised for early next week has been received and gone over by the committee. Government to Issue Currency. Judging from the views expressed by the Democrat, a bill somewhat along tlie lines of the measure recently sug gested by Senator Bailey will be forth coming. Mr. Bailey's proposed substitute for the Aldrich measure provides for the Issuance of money by the Government in stead of by the bankB. One of his plans in regard to this project is to have fhe hill conform to the Aldrich bill in every particular save for the mode of Issuing the currency, which will be through de posit in National banks and the collec tion of interest therefor. The banks re ceiving currency doposlts will be re quired to file securities with the Gov ernment in exactly the same manner as provided in the Aldrich bill. Mr. Bailey has another plan which provides for the deposit of funds in designated deposi taries only. A suggestion which seemed to gain favor In the conference was the exten sion of deposits to state banks. Only Emcrgrncy Currency. As the. ta'.k went along there grew a tacit agreement ajnong the majority of the Democrats in tho conference to the effert that purely a measure for an emergency currency would be proposed and supported. Another conference of Democrats will be called as soon as the finance com mittee Democrats. Senators Daniel, Tel ler, Money. Bailey and Taliaferro, draw up their bill after perusing the Treasury Department figures. Senator Mcl-aurin spoke in favor of his 1)111 authorizing the Issuance of treasury notes on the deposit of cotton warehouse receipts, was outlined at length by the Senator, who urged its adoption because of the standard char acter of cotton as a commodity, because of the necessity of ready money in mov ing tho cotton crop. He contended that the cotton producer is more entitled to the favor of the Gov ernment than shippers who hold stocks and bonds. Mr. Owens brought several bills, au thorizing the use of Government bonds as legal tender, limiting speculative loans by banks and regulating deposits In banks, to the attention of the confer ence, and urged their acceptance as pro viding a complete system for the pro tection of the public and conservative hankers. Reassurance was given to certain of the Senators at the beginning of the cbn ' IVrenee that no vote should be taken and that there should be no action of any kind that would be binding on Sen ators when It came to consideration of financial legislation in the Senate. TIIKOWS SOP TO DEMOCRATS Aid rich Makes Important Changes in filial Draft or Bill.. WASHINGTON. Jan. 25. When the Senate committee on finance meets next Monday, Chairman Aldrich will be pre pared to exhibit the perfected text of his currency bill. During the recess he has been engaged with other prom inent members in putting the finishing touches upon the measure, and they held their tlnal meeting today. Among the more important of the changes will be one accepting Senator Hallcy's proposition for distribution of the proposed surplus bank issue among the various states in proportion to their banking capital and surplus. Mr. Bailey has been preparing a substitute bill in which this feature is given a prominent place, and it is not yet de termined whether he will resist when the action of tho majority membership becomes known. Concessions of the AVest. Other changes which it is hoped will havo a mollifying effect upon opponents both in the Democratic party in the Sen ate and among Western Republicans is one increasing the amount of extra cirl culation allowed by the bill from $250, ooo.OOti provided by the first draft of the bill to Jn00.Oti0.000. and another making radical changes in the provision in re gard to the municipal bonds which the hill provides shall be accepted as security for the surplus issue. As the bill stands, it requires that cities 'whose bonds may be accepted shall be 15 years old, have not fewer than 20.000 population, and shall not for 10 years have defaulted on any bonded debt. In the new print all these restrictions and definitions will he eliminated and the authorities thus will he permitted to pass upon all mu nicipal bonds upon their merits at the time presented. The committee also will concede the contention that addi tional issues will be permitted to the extent of SO per cent of the market value of the bonds deposited instead of 75 per cent, as the former bill called for. This latter change was suggested by the terms of the original National bank law. Government Guarantees Notes. One important effeet of the bill as it will be presented will be to make the lnited States Treasury directly re sponsible for the payment of all bank notes issued after the law goes into effect. There is a popular impression that under the terms of the bill there will he two kinds of bank notes one class such as is now used and the other the extra circulation to be used under the National law. Mr. Aldrich characterizes this as an entire misapprehenlson ot I lie intent of the measure. On the contrary, he says, all the notes will be uniform, but they will be different from the notes now provided for. These specify the deposit of Govern ment bonds to secure payment and this will probably be discarded In its place will be .a legend to the effect that the Government guarantees the payment of the. note. .Fowler to Speak on Currency. WASHINGTON, Jan. 25. Representa tive Fowler, of New Jersey, chairman of the House committee on banking and cur rency, today announced that on Monday he will, for the first time, address the House on the Fowler currency reorganiza tion bill. He has reserved an hour for the discussion, and he anticipates that many questions will be asked. HAS DISPATCH FROM ROOT O'Brien Ready to Tell Japan What AVe Want. WASHINGTON, Jan. 25. It is learned at the State ' Denartment that the de partment's communication to "Ambassa dor O'Brien relative to the restriction of emigration into the United States from Japan went forward two days ago and its receipt has been acknowledged by Mr. O'Brien. The fact that the debate in the Japanese Diet was adjourned until Jan uray 30. will consequently afford the Am bassador ample time to prepare Secretary Root's views for submission to the Jap anese Foreign Office and for the latter to arrange for the presentation . of the subject to the Diet. The State Department is well satisfied with the treatment accorded this subject by the Japanese government, and partic ularly with the spirit exhibited in the in structions given to subordinate . officials in Japan, for the reason that in its view the subject is not so much one of regula tion as of the execution of the restrictive measures in a proper spirit. POLICY YET TO BE AXXOUXCED Japan Postpones Outlining Its Emi gration Policy. TOKIO. Jan. 25. The programme for today's session of the Diet, including the speech of Foreign Minister the Vis count HayashI, regarding the immigra tion question was suddenly changed and the speech was postponed until January 30. when It is expected that Viscount Hayashi will outline definitely the plans of the government for the re striction of emigration to America and Canada. It is understood that the post ponement was due to the fact that a reply from the American Government to the last, memorandum from Japan was expected to be handed to the for eign office this afternoon. Since the delivery of its last memo randum the Japanese government has issued the most stringent instructions to all Governors and other officials con cerning the regulation of future emi gration along the lines of the future definite policy of restriction, which in cludes the prevention of the emigra tion of laborers to America and Can ada, except under given conditions which will be satisfactory to the gov ernments of both of these countries. No laborers will be permitted to emigrate to Mexico. Evidence of the determination of the Japanese government Is shown by an official order issued to emigration com panies today, wherein all emigration to the Hawaiian Islands is absolutely pro hibited except in the case of relatives of Japanese already residing there. The order bearing on emigration to the Hawaiian Islands has created con sternation among the emigration com panies, who expected to institute a virulent attack upon the foreign office policy. In this respect. Viscount Ha yashi, however, is determined not t8 yield and says the Japanese govern ment having given its promise will not recede from it, regardless of political pressure. Viscount Aoki. ex-Ambassodar to the United States, has arrived here. Vis count Hayashi, Foreign Minister, early this morning, sent a representative to Yokohama to receive him. At the Shimbashi Railroad station in this city he was met by Baron Chinda, of the foreign office, by many officials of the diplomatic service and numerous friends who extended to him a cordial welcome home. Aoki Arrives at Tokio. TOKIO, Jan. 25. Viscount Aoki. ex Ambassador to the United States, has ar rived here. Viscount Hayashi, Foreign Minister early this morning sent a rep resentative to Yokohama to receive hinv At the Shimbashi Railroad station in this city he was met by Baron Chinda, of the Foreign Office, by many officials of the diplomatic service and numerous friends, who extended to him a cordial welcome home. ULTIMATUM TO GOLDFIELD No Police Force if Card System Is Retained. CARSON, Nev., Jan. 25. Should the mine owners refuse to withdraw the card system, the police bill will prob ably meet its death in committee and never be presented for a vote. A poll of the Assembly shows a heavy ma jority in favor of withdrawing of the card system and that the members are further pledged to hold up the bill un til this question is settled. Operators May Ignore Demand. GOLDFIELD, Nev., Jan. 25. No ac tion has been taken by the Goldfleld mine operators in regard to the de mand of certain members of the As sembly at Carson that the obnoxious card system be abolished or the bill es tablishing a state constabulary would be killed. It Is not believed that any attention will be paid to the matter. A meeting of the operators will prob ably be held tomorrow or Monday, when the matter will be taken up of ficially. PERS0NALMENTI0N. -Mrs. L. E. Lion, of San Francisco, is in the city, the guest of her sister, Mrs. D. & Peters, S34 Kearney street. Mrs. G. F. Bauerlin, of Salem, is vis iting at the residence of her sister-in-law, Mrs. C. H. Carter, in this city. Mr. and Mrs. K. H. Wallace are In the city from their farm near Hood River, and are the guests of Mr. and Mrs. W. C. Holman. Mr. and Mrs." F. N. Pendleton have left the city for an extended visit in the East. While away they will visit New York. Boston and other large Eastern cities. i Arthur C. Tomlinson and Al. Dan zinger left last week for a trip through California. They will visit friends in San Francisco, Oakland and Southern California cities. O. P. Pratt, a prominent Eastern Ore gon implement dealer, left last night for his home at Union. Mr. Pratt has been one of the active delegates at the Implement Men's Convention In Port land. F. W. (Billy) Winters and wife left last Sunday for a two-months' trip to San Francisco. Los Angeles and other Southern California cities. They will return by way of Salt Lake and will visit in Butte, Anaconda and Spokane. ALWAYS THE LATEST In millinery can be found at I.e Palais Royal at lowest prices. 375 Washington street. Tourist ad., section 4, page 7. JACK LONDON SAFE Leaves Snark at Papeete and Comes Home. WILL RESUME HIS CRUISE Boat Xeeds Repairs, So He Vacs tbe Chance to Come Back With 110, 00 0-Word Novel He Writes on the Trip All Well. SAX FRANCISCO. Jan. 25. Jack London, the author, wno left here last May on a seven years' trip around the world for the Woman's Home Compan ion, and to pcocure material for other literary work and for whose safety fears have been entertained, returned to this city today on the steamship Mariposa from Tahiti. London is accompanied by his wife and says he has come back to attend to some business matters. He will leave again on the Mariposa on Feb ruary 1. The Snark, the 50-foot boat in which London is making- his trip, was left at Papeete for repairs to her gras engine. "We have had absolutely no adven tures," said London, "and the reasons for our delayed arrival at the Mar quesas Islands, which gave rise to the reports that he had been lost, were simply trouble with our gas engine and because we spent some time cruis ing among the various islands. When we resume our voyage in the Snark we shall have an- entirely new crew. Those who came with us when we left San Francisco last Spring idealized ad venture, and when they found that ac tual adventure had a lot of hard work in between times they lost interest." Busy Writing: All the Time. Seen on board the Mariposa this morning shortly after the vessel's re lease from quarantine, London looked the picture of health. According to him, his cruise has been wholly suc cessful and he has not spentf' an idle moment since his departure from this city in Arril of last year. - "I havt not taken a day off from rr.y writings," he declared, "and return with a novel of about 140,000 wor,ds which is all but completed." I left HHo in the Snark on October 7 last and made the Marquesas In just 00 day. This was a. little longer than I had expected, but was due to contrary winds encountered. After putting to sea. we found that the northeast trades had shifted around to the southeast and tt was slow work. The Snark behaved beautifully, however, and no dam age whatever was sustained. On the voyage from Hilo, we had a most delightful time. For three weeks a school of Bonlta followed us and we could catch them without the least trouble. Upon one occasion vlwn 1Q00 miles from land. I landed a big sea turtle, and as for man-eating sharks, we caught those, too. Our first stop In the South Seas was at the Island of Neukahlva. at the ort of Talohai. After a stay of two weeks here, we proceeded to the Valley of Typee, made famous by that early wr) ter of early sea novels. Herman Melvllla. Later we shaped a course for, Papeete, where the Snark Is now anchored and will remain until our return. Visit to Nature 3Ian. In relating his adventures in the Snark thus far, Jack London laid par ticular stress upon his reception at Papeete, where he was met by Darl ing, "the nature man," who came out In a small boat waving a red flag as a salute to his brother Socialist. Dur ing his stay at this port before the departure of the - Mariposa, London was visited daily by the nature man on the Snark and both held Socialistic seances. According to the author. Darling is not as poor in pocket as was at first ieDorted, out on the other hand seems to be doing fairly well in his South Sea Island home. When reminded of the fact that he had been given up for lost by many of his friends in this city, London laughed. "I was thinking of tying the Snark up at some small island and returning here with my wife and a story of hard ship, but later changed my mind dur ing the voyage up on tne Mariposa," London announced. Asked as to his future plans, the writer stated that the cruise of the Snark would be carried out as first planned and that he would visit in turn Samoa, the Fijis and all the ports of the Orient. THIRD DOUMA TOO LAZY Scored by Its President and Newspa pers for Inefficiency. ST. PETERSBURG, Jan. 25. The Douma's slowness in discharging its dutiu3 as an executive body has creat ed a bad impression throughout the country, principally among the adher ents of constitutionalism. This has taken shape in an unusual chastise ment of his fellow-members of the Douma by M. Khomyakoff, its presi dent, in an Interview in the Novoe Vremya, in which the president com plains almost in despairing tones of his inability to whip the Douma into a. semblance of parliamentary effi ciency. M. Khomyakoff denounces the in difference shown by a large number of the members, many of whom hard ly ever cross the portals of the Tauride palace. Instead of laboring to over come skepticism, he charges, thv Douma is failing into disrepute inrousrh mere sloth. The newspapers here, both conserva tive and liberal, sustain M. Khomya koff's strictures, the Novoe Vremya particularly urging the observance of business-like methods. - The Rech maliciously rejoices at this demonstration of the unfitness of the landlord element for parliamentary work. The difficulty in obtaining a quorum has led the Octoberlsts to designate tbe Douma as the "Quorum ists." Scarcely a third of the member ship attends the sessions. IlBERAlj PRIEST IX DISGRACE Unfrocked by Holy Synod for Ad vocating Socialism. ST. PBTERSBURO, Jan. 25 Father Gregory Petroft. the most noted priest In the Russian nation, next to Father John of Cronstadt. was deprived of his eccle siastical rank at the session of tlie Holy Synod and has been given over to the authorities for judgment before a civil court. An alleged contumely to the church and state was contained in a let ter which he addressed to Archbishop Antonio of St. Petersburg and which was widely circulated in Europe and America. Father Gregory Petroff's career as a pulpit orator was most brilliant. He ex ercised sway over all classes, and multi tudes thronged to hear him. At one time he was a great favorite at court, and fre quently led the family worship of the tmperor. Since the beginning .of the revolution- MERCHANTS SAVINGS 8 TRUST CO. 247 Washington Street. CAPITAL, $150,000.00 9 Acts as Trustee in all legiti mate relations requiring such service, as to real and personal estates and in bond issues. Poes a general banking busi ness. . Solicits patronage of those requiring ,. service of a well equipped and conservative trust company. - Has funds (for first-class im proved property mortgage loans. J. Frank Watson, President. R. L. Durham, Vice-President. W. H. Fear, Secretary. S. O. Catching, Assistant Sec'y. O. W. T. Muellhaupt, Cashier. ary movement he has fallen into disfav'or on account of his liberal views and has been kept under surveillance. Finally on January 24, 19OT, he was condemned by the Holy Synod to three months' inter ment in a monastery on account of the Christian Socialist doctrine advocated in his paper, God's Truth. On March 1, however, he was elected by the Constitu tional Democrats to the second Dooma. TRIED TO WIN OVER ARMY Portuguese Conspirators Foiled In Plot Country Quiet. LISBON. Jan. 25. The government issued a statement tonights that the conspirators In the recent plot to over throw the state had procured revolvers and bombs and other weapons and had unsuccessfully tried to win over the officers and soldiers of, the army so that they might bring a mutiny at the psychological moment. Continuing, the statement says: The government has taken all meas ures necessary to guarantee public or der and secure the maintenance of obedience and loyalty in the army. Ad vices received here tend to show that all Portugal is calm at present. No further arrests have been made in Lis bon. WILIi STILIi HOLD EI.ECTIOX Portuguese Premier Docs Not Pear Plots ot Enemies. LISBON, Jan. 25 One of the Govern ment organs in its issue of today charges that the abortive effort made this week to overthrow the monarchy and proclaim Portugal a republic was the work of the opposition parties, the members of which realize that they are facing defeat. Their object was to force the Government to oppose the approach ing election. These tactics, however, will not succeed. "The cabinet is now ready to restore the constitution and it fears neither the elections nor Parliament," says the paper. WIRELESS AROUND WORLD France to Use Eiffel Toner for Send ing Army Dispatches. PARIS, Jan. 25. General Picquart, Minister of War, is convinced that on account of the splendid results attained by the wireless system, by means of which recently messages were sent here direct from Morocco, a distance of about 2000 kilometers, the estab lishment of an instrument in Eiffel tower would prove most useful as a part of the National defense in time of war. Lieutenant-Colonel Chales, Director of Military, said tonight that he ex pected important results from the con templated arrangements. He pointed out that with the great height of the Eiffel tower messages should theoret ically go around the world, returning to the Eiffel tower. AGAINST THE RACE TRACK President 'Wheeler Joins Movement to Place Ban on Sport. SAN FRANCISCO; Jan. 25. (Special.) President Benjamin Ide Wheeler, of the University of California, has Joined in the crusade against the race track. He will be one of the principal speakers at a mass meeting to be held next week, at which leading club women of Berkeley and the clergymen of Alameda County will urge that race track betting be stopped by the next Legislature. The movement, launched last week, has gained strength daily until the women of Berkeley claim that they could carry their point today by a direct appeal to the voters. MEETING OF DEPOSITORS Report of Committee of .Title Guar antee & Trust Co. to Be Heard. The depositors of the Title Guarantee & Trust Company will meet this after noon at 3:20 in Eagles' Hall, at the cor ner of Second and Yamhill streets, for the purpose of receiving the report of the committee that has been conducting negotiations with W. M. Ladd and has secured the guarantee of Mr. Ladd to the depositors. . It is likely that other matters of im portance will come before the meeting in the form of a resolution. There has been some talk of declaring for a vigor ous banking law for the protection of depositors henceforth. Embezzler Is Located. EL PASO. Jan. 25. Ernest R. Fletcher, said to have embezzled a large sum of bank funds in San Francisco, was lo cated and arrested here today upon the request of the California authorities. Fletcher acknowledged him identity. He wijl be held for extraditon- Gray s CHESTERFIELD SUITS AND OVERCOATS A superb collection of the famous Chesterfield Suits and Over coats at astoundingly low prices. When you realize what this store has to offer you will not waste your time looking elsewhere. This great sale includes all Fancys and Blacks and Blues. Fol lowing are the great price reductions: All $20.00 Vals., on Sale $15.00 All 22.50Vals.,onSale 16.50 All 25.00 Vals., on Sale 19.00 All 30.00 Vals., on Sale 23.50 NO OTHER RESULT OF REFORM Mohler Says the Union Pacific Must Reduce Force. ALL FAULT OF ROOSEVELT Discharge of 'Men or Short-Time Work Will Continue as Long as the- "Reform Mania" Is in Vogue. OMAHA, Jan. 25. The reduction of working hours of Union Pacific shop men which began last Monday is to be fol lowed after today with a. reduction of working days from six to five per week. At the headquarters of the Union Pacific, it is stated that Omaha will not be the only place affected and that1, there soon will be a general reduction of the mechan ical force of the road along its entire line. This reduction probably will affect several thousand men, either by reduc tion of working hours or final dismissal. The World-Herald today quotes Vice President Mohler as charging the reduc tion to "President Roosevelt's mania for reform," and indicating that his road would work with a reduced force so long as the President's activity against cor porations continues. "You may say the Union Pacific is only cutting down because it has to," he said, "and not because it is any pleasure to the company to throw thousands of men out of work. The public will be in no way affected by the reduction in force and all the comforts of travel will be preserved just as regularly as before. "It is this Roosevelt prosperity that makes this step necessary and it disgusts me to think that his mania for reform should make the working class thus suf fer. "This retrenchment and economy will be necessary just as long as the adminis tration keeps up its 'reform' activity, and so I am unable to say how long it will be before the old working time and the rest of the working force will be reinstated." The motor shops will not be affected by the new rule, but other shops will. Superintendent of Motive Power McKeen admitted that the cut would be made, but further than that refused to talk. j He dictated a statement regarding the report of the reduction printed in a local paper, as follows: "I was called up by telephone at a 'late hour in the evening relative to a rumored reduction in -the force of men employed in the mechanical depart ment of our road, and Inquiries were made which'to me appeared rather In- Seventy-seren T for Colds and The best we can tell you about Hum phreys' Seventy-Seven is: That it cures Grip and Colds by act ing directly on the sick spots, with out disturbing the rest of the' system. That the tonicity of Seventy-Seven sustains the vitality, so that tired, pulled-down feeling usually following an attack of Grip is largely elimi nated. All Druggists sell, most Drug gists recommend "77.", Humphreys' Homeo Medicine Co., Cor. William and John Streets, New York. All $35.00 All 40.00 All 45.00 All 50.00 VALUES LIKE THESE 269-271 Morrison Street trusive. It was distinctly .understood that the conversation was of an indi ual, and not official character. "The reduction In force is only made to meet the same percentage of reduction in traffic, and, dealing directly, as we arc, with this large body of men, and realizing the suffering that ensues, and having been through similar experiences in previous' years It is not a pleasant task to perform nor pleasant surround ings to view. "I have received no political instruc tions from Mr. Harriman, either directly or indirectly, since my connection with the Union Pacific Railroad." Mr. Mohler stated that there are about 3000 men employed In the mechani cal department at present, but admitted that the last four months had witnessed a reduction in force of about 8000 men, which is greatly in excess of the num ber usually discharged at this season. Xo further reduction of force will be made, but hours of employment will be made as above indicated. NOTHING In CAMBRIDGE CORRECT CLOTHES, the best ready-to-wear clothing manufactured in the world. To sell quickly every suit in fancy fabrics in the house, sizes 34 to 44, your unlimited choice for Regular Prices $20.00 to $40.00 Suits bought during this Clearance Sale OF SHIRTS Earl & Wilson, Manhattan, Cluett and Star. . .$1.50, $2.00, $2.50. Now at $1.15 Big Reduction on 283-291 Washington St Hotel Perkins Sale Vals. on Sale, $26.50 Vals. on Sale, 29.50 Vals. on Sale, 34.50 Vals. on Sale, 39 50 IN AMERICA BEGINS BIRTHDAY FEAST Kaiser's First. Act Is Opening of Knglish Art Exhibit. BERUX. Jan. Emprror "William today inaugurated the celebrations in connection with tho bfginning of his fif tieth year, which will take place next Monday, his birthday, by opening In this city a unique exposition which has been arranged in his honor. This consists of a loan exhibition of 40 masterpieces of British art with a total value of $3,500. 000, at the Prussian RoyaJ Academy of Arts. The pictures were brought espe cially from England with the consent of the private owners. Among these are J. P. Morgan, the Duke of Westminster and William Locket Agnews. . Gypsies of Granada, Spain, are remark able among their race, for they are cave dwellers, H vine In recedes followed out of a hillside not far from the ?lty. 0LUTELY RESERVED Regular Prices $20.00 to $40.00 sale altered free of charge Clearance ' Sale ON ALL WINTER UNDERWEAR. 25 Off On Every Garment, Cartwright & Warren Excepted, Paragon Trousers
