The Montgomery advertiser., 1903-01-01
TALKED OF FINANCE
ALLIES AND THE MESsRS. ROB-
 ERTs MAKE SPEECH.
American Methods Not Without Their Faults, But Many Good Points are shown--EmsTy
 on Consular Service.

Washington, Dec. a.-At todays ses- sion of the Advancement of Science, Mir. Frederick Emery, in his paper on the consular service and foreign trade said that in these days of sharp competition among the great producing nations the business capacity and zeal Of the consul in collecting information are found to be only essential but often Q determin- ing factor in the growth of commerce.
 MT. Emery contended that the United States consul service has been found to be superior to those of other powers as a trade agency for the reason that the persons selected as consular ofacars, being average Americans, as rule have had more of business aptitude than any other quality and have seldom been de- tered by social considerations from gtv- ing their attention to trade"
 Assistant Secretary Allies, in his paper on the operations of the Treasury De- pertinent, said that for more than half q century. 1t had been the established policy of the government to relieve the money centers when the locking up of money in the treasury caused stringency. Speaking of what the treasury had done this autumn he said:
 within the past few months the Sec retary of the Treasury by extraordinary efforts succeeded in stimulating national banks to take out some s2s,0oo.oOo addi- tional circulation. By anticipating the payment of interest on the public debt he succeeded in paying outside $3.0O0. 900 more with a profit of over St0,o00 to the treasu- ry; and finally, when the business of the country demanded Still further relief. he anticipated a portion of the public debt itself by buying bonds and thus dissemi- mating some $2S.oOo.o0o By the time the crop moving season was over. the amount of cash actually locked up in the treasu- ry had been reduced by nearly $50.00o- 900 and there was left in the treasury vaults only a little over e60ooQ000 which tradition and practice have established as a fair working balance.
 Mir. Ellis H. Roberts. treasurer of the United States, in his paper on Effects of the Inflow of Gold" said in part:
 ''The stock of gold in the United States shows for four years an annual average gain of s1o7.7ss,e ,ess. In per capita the stock of gold in this country Is greater and South Africa. The treasury of the United States holds $615, 000.0O0 and gainec e412, ,45O, ,662 in five years, while all the official banks of Europe taken together in the same period lost $37, ,4S7, ,102. The in- flow of gold has since July 1. 1897. added an average of SIS. .2Ss. .512 every year to our circulation.
 Here lies possible peril. Imitation of currency incites to dangerous expansion of business. Nc one will suggest that the incoming of gold shall be stopped; but cannot paper currency be reduced in dull seasonsf
 Prices of commodies have advanced. and wages have followed a little after How do these conditions affect our world relation. Has influence of currency or prices and wages gone so far as to cheek our exports? In agriculture. crops at home and abroad determine shipments. Prices and quality control exports of manufactures. Tn the first ten months of 1902 we sold abroad more manufaetur- ed articles than In any like period ex- eept 1900 and they were S2.@ per cent