Show NEW TREASURY SURY PLAN On the first of this month went into effect the reductions reductions re rc- re- re in national taxation which were calculated calculated calculated by Congress to reduce the national revenues rc about seventy million dollars This reduction is expected to about wipe out the annual surplus which during the last two or three years ears has bas been at t times a serious inconvenience to the bm business ness interests in in- of the nation by withdrawing a very ery large amount of cash from circulation On several se occasions occasions occa occa- Secretary Gage was compel compelled ed to come to the relief of the money moncy market And this he did by the purchase of United States bonds at very Tery high rates for the redemption account This distribution of cash relieved the market in a temporary way but with awkward and to some c. c extent self defeating consequences The chief owners of the Government Go bonds are the national banks bank and they b hold ld them themas as a basis of circulation To sell the he bonds was to surrender a n. corr corresponding amount of circulation and of f course the p profit thereupon ther To justify this sacrifice ce on the part of the banks the price offered for the bonds had to 0 be raised to a ah ab n abnormally high figure The result of the total operation was that that the market was relieved temporarily and a monetary monetary mone mone- tary crisis thereby averted a but in the time process the total currency in circulation was reduced permanently permanently permanently perma perma- to the amount of the surrendered n national bank currency The reduction in national bank circulation circulation circulation cir cir- cir cir- by this operation has amounted to many millions of dollars Secretary Shaw in anticipation tion of The relief to the tr treasury congestion to be bo effected b by the reduction of taxation which as said before went into effect on July 1st and to keep on hand han 1 a liberal fund against contingencies which may arise under tInder the operation of the new law has pursued the policy of depositing a portion of the surplus with certain designated banks lanks thereby putting put put- ting fing ing the thc money into circulation while still retaining its ownership in the national treasury The operation operation operation opera opera- tion of the new law and its effect upon the national finances and upon the business of the tile country willbe will willbe willbe be watched with interest Mrs Mis Cynthia Hendrex of West Vest Monroe onroe N. N Y gave a picnic last week in honor of her one hundredth hundredth hun bun birthday y She sa says s 's she does not know wh why she has haR lived so many years Jears unless it is because she has bas smoked a p. pipe three times a day for fifty fifty- seven se years yeav Cynthia Cnthia iq is Ef not up in logic She uses the fallacy of no no cause amse ise for it a cause This js s no telling but C Cynthia might h have Ye been twice as hearty had she eschewed instead of chew chewed d the weed How is Senator Gor Gorman's l ns n's silence e e. e in iii those these piping times of pe peace c ce to be bc interpreted Shall we say he be does not mean menn to have e a little Presidential Or does docs he lie mean to say nothing until he be is ready to tosny say something Gorman like Joe Joey is devilish sly 81 Now that the new Maine is afloat perhaps it is advis advisable ble to drop investigation im as to the cause of the disaster in Havana lion harbor Especially is this true wh when n naval oft officers cers begin to hint t that at too close inspection will show that the time explosion was from the inside Idaho has bas sent an expert to Washington to look after that States State's s interests with regard to the new irrigation law Jaw Postmaster Thomas pointed out some sonic time ag ago that Utah would be left out omit in the cold unless s prompt action was taken They are are calling caning dear old miserly multimillionaire multimillion aire Uncle Russell Kussell Sage the time Harry Hurry Tracy of Wall Van street sheet Russ Buss has bas held hell up man many a poor pOOl victim Deputy Eldredge's cross between a snake e and a fish story entitles entities the author to a seat scat at Baron Munchausen's right The struggle in the anthracite region is cid evidently to be a fight light to a finish r I I I I |