The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1909-03-04

\ sislntiunEb y con- rsag: and farrtea out
1 81 ptopsr socsed ing1 lnst ituted ~
the executive III tie courts oi the re:
tipnai gsyesnment sIii5
Monstarys Laws led Change E,.3S
One OF the reforms 10 DO carried out
during the incoming administration q
a change Of our monetary and banking
laws 30 as TO secure greater elasticity
the forms OF currency available for
trade and to prevent the: Limitations Of
Law. from operating TO increase the en-
barrassments OF a financial panic. The.
monetary commission lntelygappolnted
IS giving full consideration TO existing
conditions and to nil proposed rene
dies 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.
narrow. view OF those who believe that
the sole purpose OF the new system
should he to secure a large return on;
banking capital nor Of those who would
hive greater expansion Of currency,
with little regard to provisions for Its
Immediate redemption or ultimate Sc
curity. There Is no subject Of econom.
&c discussion 50 intricate and SO likely
to evoke differing views and ;dogmatlc
statements as this one. The commits.
Sion in studying the general influence
OF currency on business and of busl-..
ness on currency have wisely extend,
ed their Investigations In European
banking and monetary methods. The
Information that they hare derived
! from such experts US they have found
abroad will undoubtedly be found
helpful in the solution Of the difficult
problem they have In hand. llI its
Favors Postal Savings Banks. 4 s. s.
The incoming congress should
promptly fulfill the promise Of the Re.
publican platform and pass proper
postal savings bank bill. 1t will not
be unwlseS or excessive paternallsm.
The promise to repay BY the govern
ment will furnish an Involvement to
savings deposits which private enter
prise cannot supply and at such 4 low
rate Of interest rs not to withdraw
custom from existing banks. 1t will
substantially Increase the funds avail.
able for Investment us capital In USE
full enterprises. 1t will furnish the
absolute security which makes the
proposed scheme Of government guar.
anty Of deposits so aluring without
| Its pcrnlcious results. ~
ship Subsidies Advocated. "a
sincerely hope that the Incoming
congress will be allve. as It should be,
| to the Importance Of our foreign trade
! and Of encouraging 1t in every way
feasible. Tho 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. Tho direct effect Of free
trade between this country and the
Philippines will be marked upon our
sale Of cottons. agricultural machinery
and other manufactures. The necessl-
| ty Of the establishment Of direct lines
| Of steamers 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
noteworthy visit to that continent, and
| l sincerely hope that congress may be
| induced to see the wisdom Of a tenta.
tive effort to establish such lines by
the use Of mail subsidies.
The Importance which the depart
ment Of agriculture md Of commerce
and labor may play In Kidding the
| markets Of Europe Of prohibitions and
Determinations against the lmportn.
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. n
a Lock Canal Plan Defended. .:%5
The Panama canal will have a most
| important bearing upon the trade be.
tween the eastern and the far west
ern sections Of our country md will
greatly Increase the facilities for
transportation between the eastern
and the western senboard and may
possibly revolutIonlze the transcontl.
mental rates with respect to bulky mer.
| chandIse. 1t will also have most
beneficial effect to Increase the trade
between the eastern seaboard OF the
United States and the western coast
Of South America md indeed with
some Of, the important ports OF the
east coast Of South America reached
by rail from the west coast. The
work on the canal is making most sat.
isfactory progress. The type Of the
canal as 4 JOCK canal was liked ny
congress nfter a full consideration Of
the conflicting reports Of the majority
and minority Of the consulting board
and after the recommendation Of the
war department and the executive
upon those reports. Recent suggestion
that something had occurred on the
isthmus to make the lock type Of the
canal less feasible than 1t was sup.
posed to be when the reports were
made and the policy determined Oh
led to visit to the lsthmus Of
board Of competent engineers to exam.
Inc the Gatun dam and locks which
are the key Of the lock type. The re.
port Of that board shows that nothing
-. x1,a k,,~a oP ,,or,l1t