Perth Amboy evening news., 1906-12-04

~tutioil. and this ii one fenson why
SO earnestly hope that both the lesiS
iatiye and judicial branches Of the gov
eminent will eohstrde this clause o
the constitution in the broadcast posi-
bic manner
THE FARMER.
The only other persons whose well
fare is as vital to the welfare of the
whole country MS is the welfare of the
wageworlxers are the tillers Of the soil.
the farmers.
Several factors must cooperate in
the Improvement of the farmers con
dition. He must have the chance to
he educated in the widest possible
sense. in the sense which keeps ever in
view the intimate relationship between
the theory Of education and the facts
Of life.
Organization has become necessary
iii the business world, aiid 1t has ae-
edmi)lished much for good in the world
Of labor. 1t is no less necessary for
l farmers. Such a movement ds the
grange movement is good i'll itself and
is capable of a well nigh infinite fur
Their extension for good so long as it is
kept to its own legitimate business.
The benefits to be derived by the as
ISOLATION of farmers for mutual adj
| vantage are partly economic and part
liz sociological.
IRRIGATION AND FOREST PRES
ERVATION.
Much is now being done for the
states of the Rocky mountains and
great plains through the development
of the national policy Of irrigation and
forest preservation. No government
policy for the betterment of our inter
nal conditions has been more fruitful
of good than this.
DIVORCE LEGISLATION.
l am well aware of how difficult it Is
to pass Il constitutional amendment.
Nevertheless. in my judgment. Tie
whole question of marriage and di-
vorce should be relegated to the au'
thority of the national congress. The
change would be good from every
standpoint. In particular 1t would be
good because it would confer oil the
congress tile power at once to deal
radically and efficiently with polygdny.
and this should be done whether or
not marriage and divorce are dealt
with. 1t is neither safe nor proper to
leave the question of polygamy to be
dealt with by the several states.
MERCHANT MARINE.
Let me once again call the attention
of the congress to two subjects colt
corning which | have frequently be-
fore communicated with them. One Is
the question of developing American
shipping. / trust that a law embody-
ing in substance the views or a major
part of the views expressed III the re-
port on this subject laid before the
house at its last session will be passed.
1t seems to me that the proposed meas
ure is as nearly unobjectionable as any
can be.
THE CURRENCY.
l especially call your attention to the
| SttOlil SDflttt. tnC tOilttltloll VI Oht
currency laws. The national bank act
has ably served Il great purpose IN aid
ing the enormous business develop
ment of the country. and within ten
years there has been an increase in
circulation per capita from $21.41 to
S33.0S. For several years evidence has
been accommodating that additional leg
islation Is needed. The recurrence of
each crop season emphasizes the de-
fects of the present laws. There must
TO leave them as they are ean to i'll
cur liability of business disaster. Since
your body adjourned there has been a
%fiuctuatiou in the interest on call
money from 2 per cent to 30 per cent.
and the %fiuctuation was even greater
during the preceding six months. srhe
secretary of the treasury had TO step
in and by wise action put a stop to the
most violent period of oscillation.
l do not press any especial plan. Va
rious plans have recently been pro
posed by expert committees of bank
ers. Among the plans. which are posi-
bly, feasible and which certainly should
receive your consideration is that re.
peatedly brought to your attention by
the present secretary of the treasury,
the essential features of which have
been approved by many prominent
bankers and business men. According
to this plan, national banks should b,
permitted to issue a specified proper
ton of their capital in notes OF a givel
kind. the issue to be taxed at so higl
a rate as to drive the notes back wher
not wanted in legitimate trade. This
plan would not permit the issue OF
currency to give banks additional prof
its. but to meet the emergency present
ed by times OF stringency.
l do not say that this is the right sys-
TEN. I only advance it TO emphasize
my belief that there is need for the
adoption of some system which shall
be automatic and open to all sound
banks so as to avoid all possibility of
discrimination and favoritisn.
The law should be amended so as
Specifically to provide that the funds
derived from customs duties may be