Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1908-01-26

ed currency that even bankers are
! losing sight of the damage which that
I system recently caused. The faults in
the present system are Illustrated by
( the case OF the National Bank of Com
I meree of Kansas City, which on oc-
/ tober L. was the largest bank in the
( western cities with $4,000, 900 on de-
posit When the Wall street smashes
startled the country the deposits of
this bank were reduced $4,000, 900 in
so days. Then came the eomptroller's
cali for a statement with the result
that receiver was asked for as the
best means to prevent a run, $1,000
600 in cash and $4,000, 900 in good
securities being turned over to the re-
| ceiver The bank and its depositors
were needlessly hurt. The proposals
of Alexander II. Revell, of this city
for the insurance Of bank deposits by
the government and that of Arthur
70. StilWell of Kansas city, for a
central bank OF issue were interesting
and significant of the principal plans
which will be urged upon the pres
ent congress.
The restoration of colonists' rates to
western states brought to light the ex-
pectatlon that this year will see a big
colonsts' movement to the western
states, as the railroads experience has
been that following financial storm
there is always an Increase in the
number of people seeking new homes
and land. The fact that pay rolls
have been cut this winter throughout
the United States is likely to have the
effect of starting thousands of fami-
lies out to find the independence OF
farm and ranch life. During the
year Of 1908 the total number of coll
onists who passed through the south
western, western and northwestern
gateways of Eel Paso, Ogden and Port .
land was 1854, in 1906 79,494, and .
in 1907 65,201. 1t was found that
without colonists' rates the railroads /
could not hope to compete for a share .
of the immigration, that otherwise it |
would largely go to western Canada. |
According to consular reports the new |
farm buildings erected last year in .
the one province of Manitoba had a
total value of $l,733,S25. The total |
crop Of that province was reported at
80 ,102,679 bushels of grain, of which
more than half was wheat, facts
which go to show how large a number
Of new settlers from the United States
have poured into that province and
provinces further west, through which
he Canadian Pacific and the Grand
Trunk Pacific are building new lines,
which win furnish transportation to
'egons which are of virgin richness
)ut heretofore too remote from rail-
'oads to permit of settlement
The severity OF the losses of foreign
demand for canned meats is shown
~ the government totals of exports,
which in 1903 were $6,s5O,O79, as
.gainst $3,434,754 in 1906, and ST.
49, $50 in 1907. However, the ex~
,orts of fresh beef in 1907 were $2G.-
51,968, as against S23,246,7G2 in +
905, and the exports of hams in
907 totaled $23,529,337 as against
2l,35S,657. 1t was in the exports of ,
resh and picked pork that the big +
est gains in foreign sales are shown,
hese being $16,229,7S8 for 1907. as .
gainst $9,S37,O29 for 1904, There
vas a decline in the total exports of
leats, dairy products and food ami
lals from $224,542,384 in 1906 to
2OS,415,946. a loss of $16,126.43S. on
he other hand the exports of flour
increased, the total for 1906 being
58,130,251, as compared with $64,-
42,323 for 1907, showing that the
urchasing power of foreign nations r
yas not less in 1907 than 1906. The {
)tal exports show the same thing
967338,947 for 1907, as compared
18th $729,341,151 for 1904 1t was
he farmer who has scored the big in
rease in exports the total of bread
tufts for 1904 being only $92,3ll,Sl2,
$ compared with the grand total of
9O7 Of $2O4,459,443,
Those who studied John r. Walsh n
trough his ordeal of trial on charges n
lat threatened prison and disgrace p
)und him more of an enigma in the r.