The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1901-12-06

| medium In use with US, mas Deen SHOWN
to be timely and judicious- The price
| Of our government bonds in the worlds
market, when compared with h price
Of similar obligations issued by other
nations, is a fiattering tribute to our
! public credit. This condition it is evil
IDENTIFY desirable to maintain
In many respects the national bank
ing law furnishes sufficient liberty for
the proper exercise OF the banking func-
ton: but there seems to be need Of bet
ter safeguards against the DE
influence Of commercial crises n
| financial panics. Moreover, the cur
rency Of the country should be made
| responsive to the demands of u do
nestle trade and commerce..
Surplus Revenue and Economy
The collections from duties on i'm
| ports and internal taxes continue to ex-
| ceed the ordinary expenditures OF the
government, thanks mainly TO he re-
duced army expenditures. The utmost
are should be taken not to reduce the
revenues so that there will be any
possibility of a deficit; but, after pro-
viding against Any such contingency,
meal should be adopted which VIII
bring the revenues more nearly within
the limit of our actual needs. In his
report to the congress the secretary OF
the treaSury considers all these queS-
tons at length. and l ask your atten-
ton to the report and recommended
tons.
1 cali special attention to the need Of
strict economy in expenditures. The
fact that our national needs forbid us
to be ~niggardly in providing whatever
is actually necessary to u wel-being,
should make US doubtly careful to hus-
band our national resources, as each
OF us his private resourc,
by ~scrupulous avoidance of anything
like wasteful or reckless expenditure.
Only by avoidance of spending money
on what is needless or unjuStif1able can
we legitimately keep our income to the
point required to meet our needs that
are genuine.
Interstate Commerce Law
In 1887 a measure was enacted for the
regulation of interstate railways, COM
monty known as the Interstate Com
merce Act. The cardinal provisions OF
that act were that railway rates should
be just and reasonable and that all
shippers, localities, and commodities
should be accorded equal treatment. A
commission was created and endowed
with what were supposed to be the ne
cessary powers to execute the provis-
ions of this act.
That law was largely an experiment
Experience has shown the wisdom OF
is purpose, but has also shown, pos
sibly that some of its requirements are
wrong, certainly that the means devised
for the enforcement of it's provisions
are defective. Those h complain OF
the management of the railways allege
that established rates are not main
tanned; that rebates and similar device:
are habitually resorteo to; that these
preferences are usually in favor of the
large shipper; that hey drive out OF
~usiness the smaller competitor; that
while many rates are too low, many
others are excessive; and. that gross
preferences are made. affecting botf
localities and commodities. Upon the
other hand, the railways assert that
the law by its very terms tends to pro,
duce many of these illegal practices
by deprfving carriers of that right o.
concerted action which they claim i:
necessary to establish and maintain
Notwithstanding rates.
The act should be amended. The rail.
way is a public ervant. Its rates
should be lust to and open to all ship
pers alike. The government should set
to it that within its jurisdiction this Il
so and should provide a speedy, mex
pensive, and effective remedy to tha
end. At the same time it must not b.
: forgotten that our railways are tn
: arteries through which the commercial
: lifeblood of this nation flows. Nothin.
, could be more foolish than the enact
!. ment Of legislation which would un
necessarily interfere with the develop
: ment and operation Of these CONNER
cfal agencies. The subject is n o
great Importance and calls for the ear
nest attention of the congress.
Agriculture
The department of agriculture dur
y ing the past fifteen years has steadil.
~broaGened it's work on economic lines
and has accomplished results of rea
y value in upbuilding domestic and for
s eign trade. 1t has gone into new field
= until it is now in touch with all sec
lions of our country and with two o
e the island groups that have lately com
q under our jurisdiction, whose peopl
IL must look to agriculture as a livelihood
1t is searching the world for grains
grasses, fruits, and vegetables speciall
fitted for introduction into localities L
5 the several states and territories wher
they may add materially to u resour
ces. By scientific attention to soil sur
e vey and possible new crops. to breedln
of new varieties of plants, to expert
t mental shipments, to animal industr,
and applied chemistry, very practice
y aid has been given our farming an
l. stock-growing interests. The product
of the farm have taken an unprece
denied place in our export trade dur
ing the year that has just closed.
Forest Protection
Public opinion throughout the Unite
. States has moved steadily toward a jus
appreciation of the value of forests
whether planted or Of natural growth
= The great part played by them in tn
creation and maintenance Of the nation
I. al wealth is now more fully realize
than ever before.
: Wise forest protection does not mea:
= the withdrawal OF forest resource:
. whether of wood. water. or grass, fror
contributing their full share to the wei
= fare of the people, but, on the contrar!
gives the assurance of larger and NOR
certain supplies. The fundamental ide
of forestry is the perpetuation of for
: ests by use. Forest protection is not a
end of itself; it is a means to increas
and sustain the of our coun
try and the industries which Deepen
upon them. The preservation OF on
forests is an imperative business neces
sity. We nave come TO see clearly tina
whatever destroys the forests, excep
n to make way for agriculture. threatens
our well-being.