The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-12-10

only after ii was ascertained that these
organizations We're governmental in their
character, 50 that in case of a careless
or false certificate of value being sent to
this country by such an organization ii
would be possible TO present the matter to
its government for proper action. The
treasury commission also made a special
study of these chambers of commerce In
France, Austria Hungary and Great Brit
ain, to determine just what would be the
competency Of the evidence that was pre-
sented in case of disputed values.
With view to greater expedition and
hence less disturbance in business condi-
lions incident to the enforcement of the
pure foOS law, the secretary during the
year has arranged TO do away in large
measure with the reference of each dis
puted case TO Washington and has left
TO the chief local representative of the
treasury department ard the department
disposition Of all cases except those of ex-
ceptional Importance.
Economy in Specie Transfers.
The advantage of reducing to a mimi
mum the transfer of gold between the
financial centerS of the world the secre-
tary says. has been often discussed. but
has not yet been the subject of official
action. Economy in such transfers has
come about automatically from time to
time by the extension of the system of
ollls OF exchange and by the use of in
ternauonal credits, but distrust of these
resources in times of crisis the very mo-
ment at which they are most needed in
yokes demand for physical gold. The
three months OF November and Decen1-
Der, 1907, and January, 1908. witnessed i'm
ports of gold into the United States to
the amount of S118 go So and. on the
other hanq, the three months of April,
May and June, 1908 witnessed exports of
gold from the United States 10 the
amount of $49, So. For the twelve
months ending Oct. 81, 1909, the total i'm
ports of gold We're $3.50, 234 e64, and the to-
tai exports $72. 500. 564
The secretary says it would seem that
means might be devised to diminish the
transfer OF physical gold under these con-
dluons. That credits or loans of gold
might be extended more generously than
at present by one nation to another in
times or stress was proposed soon after
the crisis of year ago. 1t has been
suggested that an international confer
enee be called of representatives of the
ministries of finance and of the great
state banks with view to more prompt
ana effective cooperation in emergen-
cies.
Suggestion to Congress.
The secretary devotes considerable space
to the question OF an economical disbIlrse-
ment of current receipts, and the clas-
siffcation of both receipts and disburse-
ments IN such way as to facilitate such
an adjustment and suggests that it would
perhaps be competent to congress to vest
in joint commission the power of re-
VlSlnS the appropriation bills with a view
TO distributing reductions and increases in
an equitable manner and also with a view
TO the relative importance of the object
for which appropriations are sought. It
would seem that such committee should
be charged with the responsibility of keep
Ing the expenditures of each year ap-
proximately within the revenue of the
year, or. If this could not be done, that
il should authorize the issue of a proper
amount of short term obligations to bridge
over the deficit of lean years. BY such
a committee needless and wasteful ex-
penditure might be checked.
Statement Misleading.
The secretary says that the present
form of treasury statement is in several
respects misleading. 1t makes no separa-
ton between the expenditures for the or
binary service of the government, and