The Roswell daily record. [volume] (Roswell, N.M.) 1903-current, 1906-12-04

0AA 90ACAy LuCIS ~ uOLl1nS
SO vitality essential to the welfare O.
the nation, nothing around which
the nation should so bend itself tc
throw every safeguard, as the home
life of the average citizen. Thu
change would be good from every
standpoint. In particular it would
be good because it would confer on
the Congress the power at once tc
deal radically and efficiently with
polygamy; and this should be done
whether or not marriage and divorce
are dealt with. 1t is neither safe
mol proper to cave the question OF
polygamy to be dealt with by the
several states. Power to deal with
it should be conferred on he Nation
al Government.
American Shipping.
Let me once again call the atten-
ton of the Congress to two subjects
concerning which / have frequently
before communicated with them. One
is the question of developing Amer
car shipping. / trust that a law
embodying in substance the views,
or a major part of the views, exprest
in b report on this subject laid be
fore the House at its last session will
be past. 1 am well aware that in
former years Objectionable measures
have been proposed in reference to
the encouragement of American ship
ping; but it seems to me that the
proposed measure is as nearly unob-
j~ectionable as any can De. 1t will
of course benefit primarily our sea-
board States, sucn as Maine, Louis
lana, and Washington; but what ben
efits part of our people in the end ben
efts all; just as Government aid t
irrigation and forestry in the West
is really of benefit, not only to the
Rocky Mountain States, but to all
our country. If it prove impractical
BILE to enact a law for the encourag-
ment of shipping generally, then at
least provision should be made for
the better communication with South
America, notably for fast mail lines
to the chief Soutn American ports.
1t is discreditable to us that our bust
s people. for lack of direct COM
m~unication in the shape of lines of
steamers with South America, should
in that great sister continent be at
a disadvantage compared to the bus
mess people of Europe.
Currency Reform.
I especially call your attention to
the second subject, the condition of
currency laws. The national
bank act has ably served a great
purpose in aiding the enormous bust
development Of the country;
and within ten years there has been
an increase in circulation per CAPT
ia from $21.41 to $33.O8. For sever
al years evidence has been accumu-
lating that additional legislation is
season emphasizes the defects of
the present laws. There must soon
be a 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 1uctuation in the interest on
call money from 2 per cent to 80
per e n and the fuctuation was ev-
en- greater during the preceding six
months. The Secretary of the Treas
ury had to step in and by wise action
put a stop to the most violent period
of oscillation. Even worse than SUCH
fuctuation is the advance in CONNER
ciai rates anu III uncertainty ieie
in the suf1ciency of credit even at
high rates. All commercial interests
suffer during each crop period. Elk
cessive rates for call money in New
York attract money from the inter-
Tor banks into the speculative field;
this depletes the fund that would
otherwise he available for CONNER