The Brandon news. (Brandon, Miss.) 1892-1961, 1903-09-03

lnoU AnS Oo0n 0WakeH0u IN our Trans
pacific possessions, and the many dis
cussions that have been carried on
through the press and by other means
as to the advantages or disadvantages
that may accrue to us at some later
date growing out Of our possessions in
the far east, every item that is Of prac-
teal interest and sets forth either
point to any degree of satisfaction is
eagerly sought for, and especially is
this true Of the rubber and gutta
percha possibilities of the islands, for
the extraordinary demand for these
articles as shown by an importation
into the United States Of more than
$50, 900, 600 worth of these two articles
during the year 1902, coupled with
the fact that the known sources Of
supply are somewhat limited, has al
different times caused no little nnx-
iety over the future source OF produc-
ton. Tn fact, the limited output of
gutta percha, practically oil of which
is obtained from the kEast Indian
islands, being found in Borneo, Java
and the Straits Settlements has been
the subject of much concern by rea-
son Of its STEADILY increasing use es-
pecially in connection with electrical
equipment.
The Published statement that Sec
rotary Shaw had decided that under
existing laws he was authorized to
segregate Government receipts from
internal revenue sources aud deposit
the same at his discretion in national
bank repositories, does not raise new
question, says we'll known writer.
Although such depositssas have been
made heretofore had not been previs
ously covered into the treasury. As
early as 1878, it is said the courts OF
the United States held in effect that
the national bank repositories are
parts of the treasury OF the United
States, so far as their authority to hold
public deposits are concerned The
Secretary, SO far as can be learned,
has not determined on the deposit of
any further funds with national banks,
but after due delibaration has decided
that it is we'll within his province to
make such deposits, and with view
to meeting any possible money con-
tingency hereafter, he has segregated
the eternal revenue receipts from other
receipts.
Treasury officials deny that
the $40, OOO,O fund Secretary Shaw
proposes to use in aid of National
banks to avoid money panic, is part
of the money that was to be used in
payment for the Panama canal. This
fund is entirely derived from the in
ternal revenue and miscellaneous re-
ceipts which under the law, constitute
the only class of receipts that the sec
rotary is authorized to deposit in Ma
tlonal banks, The appropriation for
the Panama canal, on the other hand,
is to be paid tout of any money in the
treasury not otherwise appropriated. "
The two things are therefore, quite
separate and distinct.
There are indications that the Ship
trust, which is SO badly threatened by
financial breakers now, will seek life
line by attempting to revive and push
the defunct Ship Subsidy bill through
congress at che next session. Just
how the trust expects to convince the
legislators that its troubles are due to
lack of subsidy is not apparent. but
the old argument that high prices Of
labor and material prevent shipbuifd-
ing competition with foreign ship
building yards, is being carefully
busted preparatory to the opening OF
congress.
Senator Frye. of Maine, and Sena
tor Hanna, who in the past were the
chief sponsors Of the Ship Subsidy
bill, have, it is understood, been APP
pealed to by certain of those interest
ed in the United States Shipbuilding
Company to see what can be done to,
wards reviving the subsidy movement.
Letter which come to the navy de-
partment from those companies that
are behind in work on naval vessels
and cancellation of contracts breathe
in every line the financial distress with
which they are affected. Some of the
descriptions of their difficulties are
nitiahle