'V.'"' "- Vr ftl
6
Hie Commoner
VOLUME 3
NUMBER
MTCURRe'NT OPICslJi
A NUMBER OP THE STRONGEST TRUST
companies in St Louis had a distressing ex
perience on October 27 and 28. On the former
date a run was started on the Mississippi Valley
Trust company. No one seems to know exactly
what caused the run, although some say that it
was due to the publication in out of town papers
of the charge that some of the strongest trust
companies in St. Louis were in a bad way finan
cially. On the first day, the demand of the de
positors was promptly met and the directors of
one of tho companies made public an agreement
pledging their individual fortunes in payment in
full of all -current savings and deposit accounts.
On the following day the run was extended to a
number of other trust companies and at the be
ginning of banking hours long lines of depositors
' wore formed in front of the Mississippi Valley
Trust company, the Lincoln Trust company, the
Mercantile Trust company and the Missouri Trust
company. Finally it was announced that the
eight trust companies doing business in St. Louis
had agreed to require the usual thirty and sixty
days' notice of tho intention to withdraw funds
and in this way the situation was somewhat re
lieved. THE FEARS OF MANY OF THE ST. LOUIS
depositors were allayed by the arrival of
several boxes of gold and silver in express wa
gons, and in some instances persons who had
withdrawn their money on the previous day de
posited it again. One interesting effect of tho
withdrawals was noticeable in ,the city hall in the
great increase of the payment of taxes, persons
who had withdrawn their money preferring to pay
their obligations to the city rather than run the
risk of keeping their money in bureau drawers.
From every indication, the St. Louis trust com
panies are perfectly solvent, and x their affairs
have been well managed The officials of these
various institutions express great surprise be
cause of this run, and many people are at a loss
to account for It
IT WAS CLAIMED BY ST. LCUIS FINANCIERS
that there was ample money in the city
with which to meet any demand and that no
outside calls would be necessary. The Associated
press, however, under date of New York, Octo
ber 28, said: "St Louis continues to make de
mands on this center for cash. The sum of $630,
000 was sent by telegraphic transfer from the sub
treasury today and direct shipment of about the
same amount was made by local banks last night
sNo definite news regarding tho situation in St
Louis is obtainable here in authoritative quar
ters, but bankers profess to believe that reports
have been exaggerated. Private advices, received
by stock exchange houses, agree that the sub
stantial Interests of St. Louis have the situation
well in hand. Chicago and New Orleans also drew,.
' moderately on the subtreasury for 'crop' money.
A further installment of ?G60,000 was L-ansferred
to St. Louis shortly before the close of business.
This makes a total shipment for the day to that
point of $1,875,000 and breaks all previous records
for a single day's transfer from this city. Trans
fers to Chicago were later increased to $050,000."
THE DECISION IN THE "ALASKAN CASE
does not appear to be very popular in
Canada. Recently Mr. Porrier, a French-Canadian
senator, delivered an address in which he said
that Americans were now In the south, the west,
and the northwest and he asked if Canadians pro
posed to wait until they were entirely surrounded
before they awoke to tho imminent dangers with
which they were confronted. In tho same speech,
Mr. Porrier said: "The next possible arbitration
may bo concerning Hudson Bay. Suppose at that
time Greenland shall bo in possecsion of tho
United States. Just see how the iron circle would
inclose us, and how our chances would be in
creased of losing another slice of territory in any
arbitration concerning Hudson Bay. The United
States has already put forward claims to that ter
ritory, and we might again have to cede more in
tho best interests of the empire. It behooves the
genato to wake up to thefact that it will be a
mistake if we allow our friends to the south to
get possession of the polar r.ogions. Today they
-have two expeditions to the North Pole the
Zlegler expedition, which is somewhere in the
north, and tho Peary expedition, which is fitting
out. Consider what our position will be if the
Americans discover the pole and take possession
of that region. Although no economic valuo prob
ably can be attached to it, yet what is now an
academic geographical point might become a huge
political factor. Let us not wait until the. Ameri
cans scoop in the whole of the Arctic regions,
thus surrounding us on all sides. As to the pos
sible acquisition of Greenland by the United States
tho Danish government should be notified that
ive do not wish to bo forestalled. My excuse for
calling attention to this question now is because
the future independence of our country may de
pend upon it." Tho Ottawa correspondent for tho
Cnicago Record-Herald says that it is significant
that no dissent to Porrier's plain utterances came
from the government benches, but was received
with silent approval in all quarters.
ANTICIPATING THE LIKELIHOOD OF
other boundary disputes arising in tho
northeastern portion of the Dominion was, ac
cording to the Ottawa correspondent for the Chi
cago Record-Herald, the chief consideration which
determined the Canadian government to dispatch
the expedition which left Halifax for Hudson Bay
last month. The ostensible purpose of that ex
pedition is to explore, but" the deeper motive, it
is claimed, may be found in tho fact that the ex
pedition will also raise the Canadian flag over
territory lying north of Hudson Bay and Strait,
which has been hitherto unclaimed or of doubtful
ownership. The Record-Herald correspondent
adds: "The decision in the Alaskan boundary
case has stirred this country intensely from end
to end, and has heightened the popular deter
mination to resist, at all hazard, any further en
croachment by the United States upon territorial
rights to which Canadians claim they are en
titled in the northern region. In this connection,
also, the proposed Canadian expedition in search
of the North 'Pole is now Tegarded with greater
popular favor luan was possible a few days ago,
and a government grant of money has been pro
vided, which will secure the speedy and successful
launching of the enterprise Both these steps, it
is claimed, are necessary and expedient if the In
dependence of Canada is to be conserved and her
final absorption into the American Union pre
vented." ' ' K If
THE CANADIANS APPEAR TO HOLD THE
British ministry responsible for the deci
sion in the Alaskan case. They seem to think
that the result was Intended as a concession to
the United States on Great Britain's part Under
date of October 28, the Associated press reported
an interesting editorial that appeared in the Hali
fax Chronicle, the leading newspaper of the cleri
cal party in tho maritime provinces. The Chron
icle expressed what it claims to be the unanimous
dissatisfaction of Canadians in the action of the
British government, and says: "This Alaska epi
sode Tias made it clear that our existing relations
cannot be continued much longer. We are even
now at the parting of the ways. Our subordinate
position has been so clearly and so humiliating
ly revealed that it must speedily become utterly
unendurable." Tho Chronicle adds that there
are only two courses open" for Canada, complete
legislative independence within tho empire ac
knowledging the sovereignty of the king of Eng-
!?? amcl?e or the 8tatUB of an independent na
tion. The paper says there is much to commend
the latter step in particular, because it would free
Canada from the danger of ever becoming em-
KentWith thVniteA ,Ctates on account of Us
European connection, and at the same time would
secure for the dominion the benefit of the pro
tection of the Monroe doctrine.
RECENT CONFERENCES BETWEEN
representatives of Russia and representa
tives of France have attracted very general at
tention. Count Lamsdorff, Russian foreign min
ister arrived .n Paris, October 28, and was met
by M. Delcasse, the French minister for foreign
affairs. Correspondents claim that great signif
icance attacnes to this visit and that the eastern
questions were discussed. The Paris correspon-
? f?o the A8Bi??aJfed Press' uder date of Oc
tober 28, says: "A French official in close touch
with M. Delcasse. inform fk a ,. .
tonight that as. a result of 1heartbMm
M. Delcasse and Count LaiasdoS ffnc T 2
SfSLSi rn?rrlim-of Jhe inS
fore waives her former-objections to repwwST
cution of reforms in Macedonia. FraVce
supports the attitude of Russia in the carr
out of these reforms. The situation in the far
east also was discussed with the result that h
attitude of France will not be modified by 2
possibility of war between Russia and Japan."
-
p- it so
KING -VICTOR EMMANUEL HAS ASSIGNED
to Signor Glolitti the task of forming a new
cabinet and the assignment has been accepted
Newspaper dispatches say that this cabinet will
for the first time in the history of the kingdom
of Italy bring radicals into power in the person
of Signor. Sacchmi, their leader, and some of his
followers. Signor Luzatti, it is said, will get tho
finance portfolio and if is added that he will be
tho only representative of tho conservatives in
the cabinet
IN NEW YORK RECENTLY JUSTICE LEVEN
trette made a novel order in a divorce pro
ceeding. A decree of separation was rendered
in favor of the wife and the justice ordered that
the husband Tie denied all access to or even so
much as a sight of his seven-year-old son. Jus
tice Leventrette's reasons for this strange order
are set forth in his statement as printed in tho
New York World, as follows: "While I am
aware that li is unusual in separation cases to
deny tho guilty parent the right occasionally to
see his offspring, tho interests of justice and
morality require that the defendant, be entirely
precluded from seeing his seven-year-old son. Tho
facts in evidence would have justiued uivorce, not
separation. That the injured wife chose to insist
merely on a separation cannot be permitted to
redound to the defendant's benefit. The acta
remain the same and it is the acts that condemn
him. His frank avowal of a belief in niorai prin
ciples that would seek to justify discarding a
spouse when affection has cooled, or when arbi
trary Ideals have not been entirely met, shows a
reckless sincerity, but at the same time a code of
moral tenets which, if adhered to or impliedly
sanctioned, as I am asked to do in this case, would
shake to' its elements every basic principle on
which our social order is founded. Flaunting il
licit relations with other women before his wife
and using them as a club to induce her to give
him his freedom is a species of refined cruelty
which is not apt to sway the court's discretion
favorably to a rrayer for privileges. Looking
beyond the parties and considering solely the
interests of the child, I feel convinced that its fu
ture welfare demands the elimination of its
father as a possible influence in the development
of its character." N
THE PUBLICATION OF THE REPORT MADE
to the president by Fourth Assistant Post
master General Brlstow is eagerly awaited by
many people. "Mr. Roosevelt is said to be exam
ining the report and will soon make public sucn
portions of it as he deems "proper." The Wash
ington correspondent for the Chicago Chronicle
says: "There are persistent rumors that Perry
Heath, formerly first assistant postmaster gen
eral and now secretary of the republican national
committee, is blamed directly in the Brlstow re
port for many of the irregularities which the in
vestigations have shown existed while Mr. Heain
was in office. is said he has not been spare0
and the portions of the report dealing with "
Heath make interesting reading. The fact tnav
Mr. Bristow's report reflects severely on the au
ministration of Mr. Heath causes anxiety among
members of the republican national commuwy
Is that portion of tho report to be suppresses
leaving Heath free to remain as secretary or u
national committee? it is asked. That oui
hardly bo expected of President Roosevelt.
tho other hand, if the president mercilessly e
poses Heath, how can Senator Hanna and r
master General Payno himseff, the vice cnairnw
of the national committee, hope to escape censy
for harboring Heath? Strong efforts are ww
.
