The Clarksburg telegram. [volume] (Clarksburg, W. Va.) 1874-1926, 1908-12-10
NATIONS MONEY
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tGontlnued from page -.
by the department negotiations
which put an end to the long drawn
out controversy as to the value OF
Limoges china. And in doing this
1t had established a precedent and a
principal of cooperation between the
manufacturing interests involved AMI
the United States government which
Is capable of being extended to other
classes of merchandise. with excel
lent results.
During the year the department
has entered into an agreement with
the Chamber of Commerce of Limo
ses representing til manufacturers OF
that city. as to the values of all
kinds of pottery there manufactured.
Some minor details yet remain to he
settled but these daS not affect the
harmonious results that have been
achieved.
The report: calls attention to the
commission of which Assistant Sec-
rotary James B. Reynolds was the
chairman which went abroad last
year to discuss with German officials
certain important matters affecting
the proper administration OF the chs
toms laws and an agreement reached
with that country contained pro-
vision that the Chamber of Com
merce of that country should be en-
titled to furnish certificates of value
of merchandise manufactured or pro-
duced in their respective commune
ties which should be regarded by the
Iappraising officers of the United
States as competent evidence in the
finding of value. This privilege was
subsequently extended to the CHAM
Der of Commerce OF other nations.
and 1t was granted only after 1t was
ascertained that these organizations
were governmental in their chara.-
ter SO that in case of a careless or
false certificate of value being sent
to this country by such an organiza-
ton, 1t would be possible to present
the matter to its government for
proper action. The treasury COM
mission also made special study of
these chambers of commerce in
France. Austria-Hungary and Grea.
Britain. to determine Just what
would be the competency OF the evi.
denee that was presented in case of
disputed values.
With a view to greater expedition
and hence less disturbance in, busl.
ness conditions incident to the en-
Increment OF the pure food law, the
Secretary during the year has ar
ranged to doaway in large meas.
ure with the reference of each dis.
puted case to Washington and has
left to the chief local representative
OF the Treasury Department and the
Department of Agriculture at the
larger ports the disposition of all
cases except those of exceptional i'm
portance.
The advantage Of reducing to a
minimum the transfer OF gold be-
tween the financial centers of the
world. the Secretary says, has been
often discussed. but has not yet been
the subject of official action. Econ
omy in such transfers as come about
automatically from time to time by
the extension of the system of bills
of exchange and by the use of inter
national credits, but distrust of these
resources in time of crisis. the very
moment st which they are most
needed invokes a demand for physi.
cal gold. The three months of No
venber and December, 1907, and
January, 1905, witnessed imports oeI
gold into the United States to the
amount of sf1S.S22,s70 and on tho
other hand the tire emonths OF April,
May and June. 1908, witnessed ex-I
ports of gold from the United States
to the amount of $49.65S.9T2. For
the twelve months ending October
81, 1905. the total imports of gold
were $150,234,046, and total exports
$72.5Bs;564.
Tho secretary says it is would
seem that means might be devised
to diminish the transfer of physical
gold under these conditions. That
credits or loans of gold might be
extended more generously than at
present. by one nation TO another
in times of stress. was proposed sooni
after the crisis of a year ago. 1T
has been suggested TINT an inter
conference he called of rep
resentativcs OF the ministries of |