Show WHY THE SECRETARY DID IT Reasons for Ot Making the National City CHy Dank Disbursing Agent lint lIce n a tu to limo Cho Jo k Action hUon In line with tho ho criticisms passed on Secretary Gage for or his action In depoo depoe funds with certain Now York bonks banks Sulzer introduced ft 6 resolution of In the ot of today ny as 1 ilL be neon seon In thu tho Washington dispatch In connection with that thal the explanation nation made b by Secretary Gage to a correspondent or of th the ew York Even Een lug Ine lost wm will be ot of more that ordinary interest The secretary pointed out that the WM was Internal rev revenue revenUe payments from eny ny lift different sources Danks hind applied for tor government deposits In response to tolila lila Intimation that lie he would leave this money out ot of the for lor the lie vies cut It hind had been suggested lie he might used tile the at New York as his distributing agent but whoever proposed this had O oser r looked the tact that after attel the mone money had Hot got into Inlo the Bur there would hove have been en no WRY way to set get It out without nn an act ot Congress It being n necessary esar to employ n a private agency two courses were weN open to the secretary lie He must have the tho money Paid Into the nearest local depository banks bank up to the amount of tile he security furnished by each ench and the surplus sent hither and thither a plan which would have hae con contused fu cd accounts anti made havoc ot of treasury bookkeeping or ho must fix on some ome one bank to distribute to the rest red What bank should he Naturally that which had d the largest securIty The National City hank Bank hud had instantly turned in fir t bonds In response to the pro proposal In to very r large bond deposits already In the treasury treasur Its lis unqualified security was ut at least doble that of all other bonk bank The ot of the City Bank to eel teel a j hurt that tile did not give It II the first re up to Its limit on the first come rv 4 But he was anxious ious lous tl to h the funds lUnds go Ir und and coer as 09 large a Slice us as possible so 00 he with the City Dunk Bank on this wise day all the Internal revenue receipts are to be do de deposited posited there and the reports the amount ot of the re to Treasurer Mr Roberts who has the tta ln ot of the tho bond ond I d deposits ot of the whole list ot of depositorIes under his eye ee re with orders to the National Dank where to send end the mone money and how much to each these amounts pro pip rate so as to keep nil all the depositorIes on nfl an even proportional tooting footing from Irom da day to tIny day It 11 mo may provo prove desirable to deviate delale from thIs Ibis arrange a little In order to accommodate some or of the Western Werter banks and save eave In i n domestic exchange Peoria for Instance Is i n a very cry Important revenue point and possibly the use or of ofa Q a Western distributing agency agene to sup supplement the work done by the City flank ln may be decided upon but butI I the bank has hils undertaken n a hen heavy and andI I pretty thankless task In n a season eown when had to step tel to the front and andIn andin In the opinion It deserves commendation or Its enterprise and spirit rather than denunciation 4 I |