The Richmond palladium. (Richmond, Ind.) 1906-1907, 1906-12-05

I GIItCE. lie ElASk nave tue tldIIt IL
/ be 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
in the business world, and il has ac-
complished much for good in the world
of labor 1t is no less necessary for
farmers Such a movement as the
grange movement is good in itself and
is capable Of well nigh infinite fur
tner extension for good so long as Ii 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
" sociological
Irrigation and Forest Preservation
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.
am well aware of how difficult 1t is
to pass q constitutional amendment.
Nevertheless, in my judgment. the
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 1t would confer on the
congress the power at once to deal
radically and efficiently with polygamy
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 con-
corning which I have frequently be-
fore communicated with them. One is
the question of developing American
shipping. I trust that law embody-
ing in substance the views or major
part of the views expressed in 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.
/ especially call your attention to the
second subject, the condition of our
currency laws. The national bank act
has ably served 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 S21.41 to
1873 .OS. For several years evidence has
been accommodating chat additional .
islation is needed. The recurr OF
each crop season emphasizes the de-
fects of the present laws. There must
soon be q revision of them, because
to leave them as they are means TO in
cur liability of business disaster. Since
your body adjourned there has been a
fiuctuation in the interest on call
money from . per cent to 80 per cent,
and the fiuctuation was even greater
during the preceding six months. The
secretary of the treasury had TO step
in and by wise action put stop to the
most violent period of oscillation.
do not press any especial plan. Va
rious plans have recently been pro-
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 be
permitted to issue a specified proper
ton of their capital in notes of a given
kind, the issue to be taxed at so high
a rate as to drive the notes back when
not wanted in legitimate trade. This
plan would not permit the issue or
currency to give banks additional prof
its, but to meet the emergency present
ed by times of stringency.
do not say that this is the right sys-
tenn. / only advance 1t 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
and favoritism.
The law should be amended so as
specifically to provide that the funds
derived from customs duties may be
treated by the secretary of the treas
ury as he treats funds obtained under /
the internal revenue laws. There |
should be a considerable increase in
bills of small denominations. PERMITS +
sion should be given banks, il necessa-
~ under settled restrictions, to retire
their circulation 10 a larger amount
than three millions month.
1 most earnestly hope that the bill to
provide a lower tariff for or else abso-
lutte free trade in Philippine products
will become a law. No harm will come
TO any American industry, and. while
there will be some small but real mate
rial benefit to the Filipinos, the main
benefit will come by the showing made
as to our purpose to do all in our power
for their welfare.
Porto Rfcan Affairs.
American citizenship should be con-
ferred on the citizens of Porto Rico.
The harbor of San Juan. in Porto Rico.
should be dredged and improved. The
of the federal court Of Porto
y;nre oh he fz7