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JANTJABY 11, 19W
The Treasury
The Commoner.
and Wall
Instances within the last two years in which
the secretary of the treasury went to the relief
of the money markets are cited hy the New York
World, together with the names of the favored
banks, their directors, and their insurance com
pany connections as follows:
Street
elation), Now York, $1,170,000.
Fourth National Bank, Now York, $3,815,000.
THE DIRECTORS
follows? dir0ctors ln th0 favrod banks are as
National Citv Rank Pronto n
Secretary Shaw took the first step to relievo !id1 H DodSe, Charles S. Fairchild, Henry C,
the financial stringency in 1905 when, during Edwin o" xlt "ar"man Henrv O. Havemeyer,
July and August, he permitted the bank's to d" MgSE. S
qnhiff ylSr Pyi1G' WilIlam ockofollor, Jacob II
?? wanSol,.SIoan Wlm Douglas Sloano,
Join W. Sterling, James Stillman, James A.
Stillman, Henry A. C. Taylor, Moses Taylor, P.
A. Valentino and G. S. Whltson.
Fourth National Bank Cornelius N. Bliss,
James G. Cannon, William S. Opdyke, J. Edward
Simmons, Charles Stewart Smith, Robert W. Stu
art, Richard T. Wilson.
Hanover National "Rank Wliilnm nnrhmir
plete their 25 per cent reserves by allowing them
to use $7,000,000 of this fund. On September
28 he offered to receive in exchange for consols
of 1930 securities of the loan of 1907, 4 per cents,
and 'those of 1908, 3 per cents. The amount of
money placed in circulation as the result of this
transaction was $915,033.
From January 1 to July 15, 1905, to help out
tuu irciiaury on account or tne deficiency in the vernon w. mown, James M. Donald, James
revenues, the secretary called from the national Francis Fargo, Sigourney W. Fay, William Halls,
banks $51,316,800, as followsr January 15 $8- ?JK J?""?, D F' uWncs Edward King, Charles
999,000;' March 15, $13,489JoO; May l5f $H,1 ,'- mL?o7Z V" V'
000: July 15 $14 059 500 Rockefeller, Elijah P. Smith, James Henry
December 15,'l905, he anticipated the interest sSius fSSIfr8 ,lB,d,r
due 'January 1, 1906, and paid out $4,149,663 to fc SS;!. JamG8 T' Wo0(hvard'
relieve tne financial stringency.
January 5, 1906, he anticipated interest on
bonds due February 1. The amount placed in
circulation as a result of this transaction was
$1,644,489.
SECURITY FOR DEPOSITS
Late in February, 1906, Secretary Shaw de
posited $9,941,000 in national banks of New York,
Baltimore, Chicago, New Orleans, Boston, Phila
delphia and St. Louis. Early in April, 1906, Mr.
Shaw authorized the assistant treasurer at New
York to accept state and municipal bonds as se-
William Woodward.
Chase National BankHenry W. Cannon
(Chairman), George F. Baker, George F. Baker,
Jr., A. B. Hepburn, James J. Hill, Oliver H.
Payne, Grant B. Schley, John I. Waterbury, Albert
H. Wiggin.
First National Bank F. A. Baker. G. F.
Baker, James A. Blair, Henry P. Divison, II. C.
Fahnestock, James J. Hill, F. L. Hine, D. Willis
James, John J. Mitchell, William II. Moore, J.
Pierpont Morgan.
LIFE INSURANCE CONNECTIONS
Of these men George F. Baker, William Rock-
curity for deposits in national banks desiring efeller, George G. Haven, A. D. Juilliard, Charles
to import gold. Under this arrangement $49,-
870,000 was turned over to the banks between
April 12 and May 31. Gold was Imported to
cover this amount, and the money was returned
to the treasury when the gold arrived from
Europe.
May 1, 1906, the secretary of the treasury
deposited $4,220,000.
Between May 31 and June 30 $15,116,269 was
deposited in national banks.
Between September 10 and October 15 Mr.
Shaw facilitated gold imports by accepting govern
ment, state and municipal bonds as security. The
amount of gold imported under this arrangement
was $46,606,000.
These funds were returned to the treasury
When the gold arrived, the last payment being
made November 14.
September 27 Mr. Shaw deposited $26,000,000
in the national banks, state and municipal bonds
being accepted as security for these deposits.
October 22, 1906, Mr. Shaw offered to stim
ulate national-bank circulation to the extent of
$18,000,000 by accepting approved securities other
than government bonds for deposits that had
been made, the bonds released to be used im
mediately as a basis of circulation without with
drawals from the treasury. On this offer circu
lation was increased by $15,837,850.
Secretary Shaw had also anticipated the in
terest on bonds due May 1, 1906. This action re
leased $12,000,000 from the treasury.
DEPOSITS TO STIMULATE GOLD IMPORTS
Of the $49,870,000 deposited to stimulate the
importation of gold between April 24 and July
10, the following sums were deposited in "New
York banks:
National City Bank, New York, $31,000,000.
Hanover National Bank, New York, $4,000,000.
Chase National Bank, New York, $2,000,000.
National Bank of Commerce, New York,
$3,370,000.
First National Bank, New York, $7,000,000.
Fourth National Bank, New York, $1,500,000.
Of the $46,606,000 deposited between Septem
ber 10 'and October 10, to stimulate the importa
tion of gold the following sums were deposited in
New York banks:
A. Poabody, Frederic Cromwell, J. N. .Tarvie and
H. McK. Twombly are trustees in the Mutual
Life Insurance company, Mr. Peabody being pres
ident of the- Mutual.
Goorge W. Perkins, Charles S. Fairchild,
James Stillman, Alexander 'E. Orr, John Clailin,
Woodbury Langdon and James A. Blair are trus
tees in the New York Life Insurance company,
Mr. Orr being president of the New York Life.
Paul Morton is president of the Equitable
Life Assurance Society and Thomas F. Ryan
owns the controlling stock, while Cornelius N.
Bliss was a director under the Hyde regime.
The same men who control these five favored
banks also control the life insurance companies
which contributed $14S,702 to Mr. Cortelyoifs
campaign fund.
JAPANESE YIEW
A reader sends to The Commoner a copy of
the Hawaiian-Japanese Daily Chronicle of Decem
ber 12, published at Honolulu. Under the head
line of "Gems from the Japanese Papers," the
Daily Chronicle prints these paragraphs, which
may be interesting to Americans as showing the
Japanese point of view:
"Most of the European laborers in San Fran
cisco are said to be sea-lawyers and naturally
fond of liquors, while the Chinese are doing noth
ing but saving money. The Japanese, on the
contrary, are studious and are taking on Amer
ican customs, and wearing American clothes."
"The London Times stated that If Americans
believe that it was Improper to sit with Japanese,
then the Japanese, also, will believe the same.
But we are not so narrow-minded yet."
"If Californians do not obey the constitution
of the United States they are nothing but rebels,
and the government should treat them to hot
lead."
"If it is beyond the power of the American
covernment to quiet the rebellion down, why not
National' City Bank, New York, $25,078,00$, carry out that extradition treaty, and hand those
TTnnnvfir National Bank, New York, $298,000
Chase National Bank, New York, $2,180,000.
National ' Bank of Commerce, New York,
$9,105,000. , Anntnnnn
First National Bank, New York, $2,340,000.
Bank of New York (National Banking Asso-
outrageous parties to Japan for punishment.
"The Japanese people of Hawaii are believing
that there will be no war so long as that wonder
ful man Roosevelt Is the president. But in case
war breaks out, unfortunately, Japan will not
bombard .those IsJandn or ovon throw a shell Into
the cl tics of California, but the very An tl ing
Bho will do, will bo to gobble up the Phlllppinf
Blonds, to occupy permanently While hor navy will
keep off American trade from the Pacific ocean,
th2 nSSr.iWl nb ?nr. ToBOOH wh0 wln "wait
tho arrival of the American Baltic licet, and the
Rojestvonskics" will not bo able to enter the
Japan sea. And so the Japanese will be victorious
once more."
Professor Takagt aald that the llfo of tho
middle class Amorlcaus is similar to those of the
Samurai's of tho feudal age of Japan. But those
people of San Francisco are not Unit class."
"It may bo a bettor Idea for Uncle Sam to
furnish funds for tho Pan-Paclflc congress than
to wauto a pile of money for useless fortification
or theso islands, which never will bo any good
in time of peace or war."
I ho Amerlcan-JapnnoHe alliance will k00p this
world at ponce as long a it can. It Is certainly
too bad for Uncle Sam to lose his best pupils on
account of those blind half crazy people of tho
coast."
Consul Saito has returned from his succeisfti!
mission to tho big island, where ho has been
telling the Japanese laborers not to leave Ha
waii. We hope his work will boar good fruit
next spring, and stop some of thorn from koIuk
to tho coast."
FOR THE SCRAP-BOOK
The Children of the Poor
Agony old as a woman's years,
Pathos moving the heart to tears,
A wizened visage that none would know,
Shoulders bent to the toil and woe,
Fingers crooked and bangoil and scarred,
Poor little life that tho world has marred,
Scheming, begging, with quip and quirk,
For what? For joy? No, men for work!
Girl and boy and the youth and maid,
Tho Child of the Poor Is a Grand Parade. , ,
His feet go hot on tho burning brick, , .,
Ills song is the mill wheel's clatter and click,
The rose that blooms In tho ways of God,
The vine and tree and the sweet green sod
Go by for mo and go for you,
But the Child is asking for "something to do."
Register this one, Mr. Clerk!
He knocks at tho door of Law for work. ,
He keeps tho haunt that his lips call "home"
That vagabond father may drink and roam; ,
lie knots his fists with tlfe warts of toll; $
Ho blurs his life with the whirr and moll.
But let him in to tho grand Permit "
Life hits him hard, but he's used to it!
They're used to It aye, that's the thing!
We pluck the rose, we laugh and sing.
We catch the shine, the cheer, the glow ' '.
Of life as day by day we go
Care-free and glad and strong to bless
Our own loved ones with life's success,
While these so close beside our door
Go by the children of the poor!
Here is the little tin-mill girl.
No finger soft hath turned a curl
In hair that sweeps in wild array
Look close; it may be turning gray!
Here's factory lad, with shoulder stoop;
March on, O wan and weary group!
Scheming, begging, with quip and quirk,
For what? For joy? No, men for work!
Baltimore Sun.
.
PRIMARY PLEDGE
As this copy of The Commoner may be read
by some one not familiar with the details of tho
primary pledge plan, it is necessary to say that
according to the terms of this plan every demo
crat Js asked to pledge himself to attend all of
the primaries of his party to be held between
now and the next democratic national convention,
unless unavoidably prevented, and to secure a
clear, honest and straightforward declaration of
the party's-position on every question upon which
the voters of the party desire to speak. Those
desiring to be enrolled' can either write to The
Commoner approving the object of the organiza
tion and asking to have their names entered on
the roll, or they can fill out and mail the blank
pledge, which is printed on page 14.
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