Bisbee daily review., 1908-12-10

for proper action. The treasury com mission also made special study of these chambers of commerce in France, Austria Hungary and Great Britain, to determine just what would be the competency of the evidence that was presented in case of disput- ed values. With view to greater ex- petition and hence less disturbance in business conditions incident to the of the pure food Jaw. the secretary during the year has arrang- ed to do away in large measure with the reference of each disputed case to Washington and has left to the chief local representative of the treasury and the department of az riculture at the larger ports the dis position of all cases except those. Of exceptional importance.
 space to the question Of an economical
 The advantage of reducing to min imum the transfer of gold between these financial centers of the world, the secretary says it has been often discussed, but has not yet been the subject of official action. Economy in such transfers as come about auto maticalIy from time to time by the extension of the system of bills of exchange and by the use of interna, tional credits, but 6istrust of these resources in time of crisis. the very moment at which they are most need ed inyokes a demand for physical gold. The three months of November and December, 1907, and January, 1908, witnessed imports of gold into the United States b the amount of S11S,S22,870 and on the other hand the three months of April, May and June, 1908, witnessed exports of gold from the. United States to the amount of $49,65S,97 For the twelve months ending October 31. 1908, the total inn ports of gold were $150,234,064 and totals exports s72.J09. .564.
 The secretary says it would seem that means might be devised to di- minish the transfer or physical gold under these conditions. That credits or loans of gold might be extended more generously than at present by one nation to apoIher in times ot the ministries of finance and of the 9ul I9lIB uoos posodoId sgM 'ss9Ils gested that an international confer ence be called of representatives ot crisis of Q year ago. It has ben sug, great state banks with view 10 more prompt and effective cooperation in emergencies.
 The secretary deyotes considerable disbursement to current receipts ana the classification of both receipts ana disbursements in such a way as to Ia cilitate such an adjustment, and sug- gests that it would perhaps be compe- tent to congress 10 vest in joint committee the power or revising the appropriation bills with a view to dis tributing 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 sce III that such 8 committee should ne charged with the responsibility of keeping the expendi- lures of each year approximately with in the revenue of the year or, if this could not be done, that it should au- thoriZe the issue of proper amount of short term obligations to bridge over the deficit of lean years. By such committee needless and wasteful ex- penditures might be checked.
 The secretary says that the pres
 
 several respects misleading. It makes no separation between the expcndi- lures for the ordinary service of the government, and those for permanent public works, like river and harbor Improvements, public buildings and the Panama canal If these state. ments differentiated between the or. dinary and the extraordinary expendi. lures the record for the fiscal year, 1908, would show ordinary receipts s601, ,126,11S. Ordinary disbursements, $570, AT, ,83S. Surplus of receipts, $30,- 64S,279. Extraordinary receipts ana disbursements; sale cf Panama bonds. $24, ,631 ,9S0. Sale Of treasury certifi- cates s15,436, ,500 From premium, $735,7S8. Total extraordinary re- ceipts, s40.S04,2eS. Extraordinary dis bursements: For panama canal, sSS,- 093,425; for public buildings, under treasury, S9,341,364. for reclamation service, S11, ,126,042; for rivers .an4 harbors, S30,157, ,649: for reduction of the public debt, S34 ,356, 750. Total ex- traordinary disbursements, s123,G75,- 230t