Show CASH IS FLOWING I MORE FREELY NOW WASHINGTON WASHINGTO Nov 20 Tho The Tho communications communications communications which havo have come to tho the treasury treas- treas ury department approving the financial policy adopted b by tho the President and Secretary Sec Cortelyou and the subscriptions which were received for the Panama bonds and ono ono- year ono car certificates certificates' were tho the subject of ot discussion at tho the meeting of oC the cabinet and afforded general catlon cation While details regarding subscription are not yet being made public It seems scorns to be bo bethe betho botho tho the feeling at the Treasury Department that hat both loans will be oversubscribed as was the case of the tho popular loan of Issued by the Cleveland administration administration adminis adminis- In 1895 Tho The decline In the tho stock market toda today Is regarded 03 tS only a symptom symptom tom of ot h hesitation until the tho effect of the failure or success of tho the measures are proved by tho the opening of the bids Several Se Important questions aro are being raised In communications addressed to the Treasury Treasur but the tho Treasury officials are exercising much care caro In defining their position One of ot these questions Is whether the new year ono certificates will be bo available for bank reserves The law Jow lawon lawon on the subject seems Beems to be he sufficiently clear that they are not a available for tor this purpose but it is possible that the presence presence presence pres pres- ence of ot a few of ot them In reserves under present critical conditions would be winked at Just as In the case of clearing house certificates The possibility that the Issue of the ono ono year certIficates will wUl be bc criticised In Congress In much the same manner monner as u uthe the sale of ot bonds to the Morgan n syndicate syndicate syndi syndi- cate cato to protect tho the gold reserve In 1895 is attracting some attention Tho The fact tf that thata at ata a Republican member of ot the tho house committee com com- on banking Mr Prince of ot Illinois was quoted today ns as declaring the Issue not Justifiable under existing conditions condi condl- Is considered a symptom of ot the attitude which may be taken b bv by a a. few members of or Congress Tho The criticism of ot President Cleveland's measures In 1895 went so 80 far that a committee was appointed appointed appointed ap ap- ap- ap pointed to Investigate ate the tho contract with J J. J P. P Morgan organ Co A certain part of ot tho the criticism at that time was W directed against the tho exclusive nature of the contract contract con con- tract and this criticism will not Ho lie against tho the pres present nt offer of ot securities to tho the public unless something occurs In making tho the awards which may afford Jin nn opportunity to the critics of ot tho the administration adminis adminis- |