The Ellensburg dawn. [volume] (Ellensburg, Wash.) 1898-1914, 1909-03-04

BY proper proceedings institutsN -
The executive In the courts ~ ~. ~
tional government.
Monetary Law, Need Chance.
One Of the reforms TO be carri.A
during the Incoming administrators !.
change OF our monetary and bank,r.
laws so M TO secure greater elastici,.
In the forms ~ currency ayailab,. ..
trade and to prevent the llmItatIor, =.
law from operating TO increase In. -,
barrnssmcnis Of financial panic m.
monetary commission lately appoipt.s
IL giving full consideration TO ev,.,,..
conditions and 10 all proposed REM
dies and will doubtless suggest one th..
VIII meet the requirements Df bus,na..
and OF public Interest. We NAV hor.
that the report Will cmbody neither ~.
narrow view Of those who believe th.,
the sole purpose Of the new svstar
should be 10 secure Il large return nm
banking capital nor of those who vould
have greater expansion Of currsnnv
with little regard TO provisions for n.
Immediate redemption or ultimate "a.
curity. There IL no subject Of econo,o.
&c discussion so Intricate and 10 likelv
to evoke differing views and dogmatie
statements as this one. The comml..
sion In studying the general influence
OF currency on business and Of iux,
ness on currency have wisely extend.
ed their investigations In Europesu
banking and monetary methods. Tn
information that they have derived
from such experts as they have found
abroad will undoubtedly be found
helpful In the solution Of the dif,cuIt
problem they have In hand.
Favors Postal Savings Banks
The incoming congress should
promptly fulhll the promise Of the Re.
publican platform and pass a proper
postal savings bank bill. It will not
be unwise or excessive paternalisu.
The promise to repay by the govern.
ment will furnish an Involvement to
savings deposits which private enter.
prise cannot supply and at such low
rate Of Interest as not TO withdraw
custom from existing banks. II will
substantially Increase the funds avail.
able for investment as capital In use.
ful enterprises. 1t will furnish the
absolute security which makes tie
proposed scheme Of government guar.
anty OF deposits so alluring without
Its pernicious results.
Ship Subsidies Advocated.
| sincerely hope that the incoming
congress VIII be alive, as it should be,
to the Importance OF our foreign trade
and OF encouraging 1t in every way
feasible The possibility OF increasing
this trade in the orient, IN the Philip
pines and In South America Is known
to every one who has given the matter
attention. The direct effect OF tree
trade between this country and the
Philippines will be marked upon our
sale Of cottons, agricultural machinery
a nd other manufactures. The necessl.
ty OF the establishment OF direct lines
Of stea mers between North and South
America has been brought to the at
tention Of congress by my predecessor
and by Mr. Root before and after bis
visit to that continent, and
| sincerely hope that congress may De
induced TO see the wisdom OF tenu'
tive effort to establish such lines py
the use Of mail subsidies.
The importance which the depart
ment OF agriculture and OF commerce
and labor may play In Kidding tne
markets Of Europe OF prohibitions anu
against the importa'
ton OF our products Is fully unoef.
stood, and 1t Is hoped that the use OF
the maximum and minimum leatule
Of our tariff law to be soon passed VIII
be effective 10 remove many OF tnose
Lock Canal Plan Defended.
The Panama canal will have most
important bearing upon the trade De'
tween the eastern and the TAR wesl.
ern sections of our country ana VIII
greatly increase the facilities TOT
between the eastern
and the western seaboard ana ina!
possibly revolutlonize the TRANSFORM
Mental rates with respect to bulky meE'
,handise. 1t will also have mos'
effect to Increase the traue
between the eastern Seaboard u INC
United States and the western coHs'
II South America and indeed WIN
some OF the important ports OF 'ns
EAST coast of South America reacneo
~ rail from the west coast. AUG
work on the canal Is making most sa''
s1actory progress. The type OF us
ANAL as lock canal was hxed .!
congress after a full consideration VI
he conflicting reports OF the MAJOR!
md minority OF tho consulting OOaTu