Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1909-12-08
TAFT'S MESSAGE
Continued from Page -

action the proceedings at common
law and proceedings in equity in
the federal courts, but it is certainly
not impossible by a statute to SIM
plify and make short and direct the
procedure both at law and in equity
in those courts 1t is not impossible
to cut down still more than it is
cut down, the jurisdiction of the SUI
preme court SO as to confine it al
most wholly to statutory and con-
stitutional questions. Under the
present statutes the equity and ad-
biralty procedure in the federal
courts is under the control of the
supreme court, but in the pressure
of business to which that court is
subjected, it is impossible to hope
that a radical and proper reform of
the federal equity procedure can be
brought about. | therefore recon-
mend legislation providing for the
appointment by the president of a
commission with authority to exam
inc the law and equity procedure of
the federal courts of first instance,
the law of appeals from those courts
to the courts of appeal and to the,
supreme court, and the costs inn
posed in such procedure upon the
private litigants and upon the pub
lie treasury and make recommends
ton with a view to simplifying and
eXpediting the procedure as far as
possible and making it as inexpen-
siVe as may be to the litigant of lit
tie means.
Postal Savings Banks
"A subject worthy of mention in
the postoffice department is the real
necessity and entire practicability of
establishing postal savings banks.
The successful party at the last cleo
ton declared in favor of postal saw
ings banks, and although the propo-
sition finds opposition in many parts
of the country, | am convinced that
the people desire such banks, and
am sure that when the banks are
furnished they will be productive of
the utmost good. The postal saw
ings banks are not constituted for
the purpose of creating competition
with other banks. The rate of in
terest upon deposits to which they
as to prevent their drawing deposits
away lIOLn OIueI UduhS.
Il believe. them to be necessary
in order to offer a proper induce
ment to thrift and saving to a great
mank people of small means who do
not now have banking facilities, and
to whom such system would offer
an opportunity for the accumula-.
ton of capital. They will furnish
satisfactory substitute, based on
sound principle and actual success
full trial in nearly all the countries
of the world, for the system of gov
eminent guaranty of deposits now
being adopted in several western
states, which with Difference to those
who advocate it, seems to me to
have in it the seeds of demoraliza-
ton to conservative banking and.
certain financial disaster.
The question of how the money
deposited in postal savings banks
shall be invested is not free from
difficulty, but | believe that a sat
isfactory provision for this purpose
was inserted as an amendment to
the bill considered by the senate at
its last session, 1t has been pro-
posed to delay the consideration of
legislation establishing postal saw
ings bank until after the report of
the monetary commission. This re-
port is likely to be delayed, and
properly so, because of the necessity
for careful deliberation and close in
vestigation. | do not see why the
one should be tied up with the 9TH
er, II Is understood that the none
tary commission has looked into the
systems OF bankings which now pre-