The Colorado statesman., 1909-03-06

uCiOSl lhC pIcStHI IeueTdl 1urlSulC-
ton which ought to be remedied at
once. Having assured to other coun-
tries by treaty the protection of our
laws for such of their subjects or
citizens as we permit to come within
our Jurisdiction. we now leave to a
state or city, not under the control
of the federal government, a duty of
performing our international obliga-
tons in this respect. BY proper legis-
lation we may, and ought to, place in
the hands of the federal executive the
means OF enforcing the treaty rights
or such aliens in the courts CT the fed
eral government. 1t puts our govern
ment in pusillanimous position to
make definite engagements to protect
aliens and then to excuse the failure
to perform those engagements by an
explanation that the duty to keep
them is in states or cities, not within
our control. If we would promise. we
must put ourselves in a position to
perform our promise. We cannot per-
nit the possible failure of justice due
to local prejudice in any state or mu-
mclpal government to expose us to
the risk of a war which might be
avoided if federal jurisdiction was as
serted by suitable legislation by con-
gress and carried out by proper pro-
ceedings instituted by the executive
in the courts of the national govern
ment.
Monetary and Banking Laws.
One of the reforms to be carried
out during the incoming administra-
ton is change of our monetary and
banking laws, so as to secure greater
elasticity in the forms of currency
available for trade, and to prevent the
limitations of law from operating to
| increase the embarrassments of a
financial panic. The monetary COM
mission lately appointed is giving full
consideration to existing conditions
and to all proposed remedies, and will
doubtless suggest one that will meet
the requirements of business and of
public interest. We may hope that
the report will embody neither the mar
row view of those who believe that the
sole purpose OF the new system should
be to secure large return on bank
ing capital or of those WHO would
: nave greater expansion of currency
with little regard to provisions for its
immediate redemption or ultimate Sc
curity. There is no subject of eco
nomic discussion so intricate and so
likely to evoke differing views and
dogmatic statements as this one. The
commission in studying the general in
nuence OF currency on business and
OF business on currency have wisely
extended their investigation in Euro
| pean banking and monetary methods
Urges Postal Savings Banks.
The incoming congress should
promptly fulfill the promise of the Re-
publican platform and pass a proper
postal savings bank bill. 1t will not
be unwise or excessive paternalism.
The promise to repay by the govern
ment will furnish an snducement 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 Tor investment as capital in use
full enterprises. 1t will furnish the
absolute security which makes the
proposed scheme of government guar
anty of deposits so alluring without
its pernicious results.
sincerely hope that the incoming
congress will be alive, as it should be,
to the Importance of our foreign trade
and OF encouraging 1t in every way
feasible. The possibility of increas-
ing this trade in the orient, in the
Philippines and in South America are
:. known to everyone who has given the
matter attention.
The Importance which the depart
ment of agriculture and of commerce
and labor may play in Kidding the
markets of Europe of prohibitions and
Determinations against the importa-
ton of our products is fully under
stood, and it is hoped that the use of
the maximum and minimum feature
of our tariff law to be soon passed
will be effective to remove many of
those restrictions.
The Panama Canal.
| The Panama canal will have a most
important bearing upon the trade be-
tween the eastern and the far western
sections of our country, and will great
ly increase the facilities for transpor-
tation between the eastern and west
ern seaboard and may possibly revo-
lutionize the transcontinental rates
with respect to bulky merchandise. 1t
will also have a most beneficial effect
to increase the trade between the east
ern seaboard of the United States and
the western coast of South America,
and, indeed, with some of the i'm
portant ports on the east coast OF
South America reached by rail from
the west coast. The work on the