Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1905-12-07

81 Oo4 10. 70; fermented liquors, an increase of
n,21l,094n oleomargarine, an increase OF
SiGi ,3S1. IS; mixed nour, an increase OF H2G;
adulterated butter, an Increase OF t2O23O1i
process or renovated butter, an Increase Of
N5,S &C.
The following items show decreases for
1906: Filled cheese, decrease OF S,543.2S;
miscellaneous decrease OF 81, 81, S0429
The report says that during the year
twenty-eight public buildings were com
pleted and sixteen improved. The erection
OF hfty-eight was begun, making eighty
four in course of construction.
secret Service.
The secret service division was actively
engaged during the year I'm the suppression
Of counterfeiting, and in the course of its
tured and conhscated sS6,s in counterfeit
notes. S24,100 in counterfeit coin. 165 plates
for the printing Of counterfeit notes, 81
counterfeiting coins There were but nine
new counterfeit notes placed in circulation
sucent ns y veal eKee %s TO tour BRING G them
within the dangerous class The more Inn
portant arrests included three combina-
lions Of criminals operating in different
cities, but all engaged In counterfeiting
the notes of the Austro- Hungarian govern
ment. The necessary arrangements were
made for the establishment Of branch
of the service at Honolulu, Hawaii, where
there have been some evidences OF COIN
ing enterprises, Assistance was rendered
to the other executive departments in
special cases Of Importance. All the eN-
pense in connection with these special
ments. and none of IL charged against the
appropriation for. suppressing counterfeit
tained Its higR record S for rne ecen lSy '
Territory of Hawaii.
The debt of Hawaii assumed by the terms
of the Joint resolution OF July Z, 1898, con-
sisted of 3d. 235, 400 in interest bearing bonds
This Indebtedness has been fully paid by
the United states, except $2,9OSl6 In postal
savings certificates, not yet presented for
payment.
The necessity for an elastic currency has
| received fresh emphasis in the financial
! conditions Of the last few months. MI
lions were loaned, approximately at per
cent in midsummer and call money reached
% per cent In November. The exceedingly
low rate was about as dangerous as the
high rate, for the latter was the logical re-
suit of the former. Such extremes can and
| should be rendered impossible.
AS means to this end, suggest the adj
visibility Of permitting national banks to
| issue volume of additional government
guaranteed currency, equal In amount to 90
per cent of the bond secured currency main
tanned by them, but subject to tax of or
6 per cent until redeemed by the deposit Of
like amount in the treasury; BY elimi-
mating the words secured by United States
| bonds deposited with the treasurer of the
United States" from national banknotes
| now authorized, the additional currency
would be identical in form with that based
upon q deposit of bonds, and its presence
would not alarm, for IL would not be known.
! No new and distinct or unguaranteed form
| Of money should be injected into our sys-
| tenn. The tax would be ample, and more
| than ample, to cover the risk to the govern
| ment in guaranteeing redemption. Mani
testify, this additional currency would not
| spring into being until interest rates ex-
| ceeded per Get, and II would as promptly
| retire when rates became normal. Under
| these or any similar provisions 10 per cent
| money would be well-nigh impossible, and
| the Treasury department would be saved a
4 most embarrassing RESPONSIBILITY, This
may not be the only means of adding an
element of elasticity to our currency sys-
tenn, the need of which is universally recog-
| nized. l suggest It the plan which TO my
mind seems most feasible, and one fraugR
with no danger.
Department Savings Bank.
There are in the District of Columbia,
| approximately, 1900 clerks and other per-
| manently employed officials, receiving
| salary Of $500 or more per annum. Many
| of these are well advanced in years, sew
| eral nearly 80, quite a number past 50, and
! hundreds past 20. Some Of these would
have been separated from the service ere
this but for the element OF sympathy
l which can not be eliminated in concrete
| cases where separation means casting the
unfortunate upon the charity OF friends,
| is impossible to observe the faithful SER
vice of this great army of associates for
lany considerable period without becoming
Interested in their, welfare .' ..-i.t
| 1 believe it incumbent upon the govern
ment to do everything reasonably within
its, power to inculcate within the depart
tments principles of econony-such as Ben
! jamin Franklin taught, the application of
which WILL in every case, barring sickness
| and misfortune, insure competency.
! There are in the treasury building 1853
clerks who have served over thirty years.
One hundred dollars saved each year and
kept at interest at 4 per cent would have
yielded l., urly $1,000, which is a competency
in many portions of the United States and
actual wealth in some.
For the purpose Of encouraging those in
departmental service to save something
from their salaries (Which average, in my
judgment fully Or per cent higher, all
things considered, than is paid for like
services elsewhere). think 1t would be
wise to charter a savings bank upon the
mutual plan prevalent in some of the
! states.