The new South-news., 1909-03-13

Commission lately appointed is CIV
ing fall consideration 70 existing con
di'ions and to all proposed remedies.
and viii doubtless suggest one that
VIII meet the requirements of busi-
ness 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 be 10 secure
large return on banking capital Of
OF those who wonld have greater ex-
pansion Of currency with little re-
gard TO provisions for its immediate
redemption or ultimate security.
There ls no subject Of economic dis
cussion 80 intricate and ~ likely to
evoke differing views and dogrnatic
statements a. this one. The Com
mission IN studying the general in
nuence Of currency on business and
OF business on currency. have wisely
extended their investigations in Eu-
ropean banking and monetary meth
ods The information that they have
derived from such experts AS they
have found abroad will undoubtedly
be found helpful in the solution OF
he difficult problem they have in
hand
Postal Savings Bank
The incoming Congress should
promptly fulfill the promise Of the
Republican platform and pass
proper Postal Savings Bank bill. II
will not be unwise or excessive parer-
nalism. The promise to repay BY the
Government will furnish an induce
ment TO savings deposits which pri-
vaie enterprise caynot supply, and at
such 2 low rate Of interest a. not to
withdraw custom from existing
banks. II will substantially increase
the funds available for investment as
capital IN useful enterprises. 1t will
furnish the absolute security which
makes the proposed scheme of gev-
ernment guaranty of deposit so allur-
ing without its pernicious results.
Our Foreign Trade.
| sincerely hope that the incoming
Congress will be alive. as it should
be. 10 The importance Of our foreign
trade and of encouraging it in every
way feasible. The possibility of in
creaslng this trade in the Orient in
the PHILIPPINES and in South America
are known TO everyone who has
given the matter attention. The di-
rect effect of free trade between this
country and the PHILIPPINES will be
marked upon our sale of cotton. az
ucultural machinery and other man
niaciures. The necessity of the es-
tablishment of direct lines of steam
ers between North and South Am
erica has been brought to the at
ieniion of Congress by my predeces-
sor, and by Mr.. Root before and after
his noteworthy visit to that continent
and | sincerely hope that Congress
may be induced to see the wisdom of
a tentative effort to establish such
lines by the use of mail subsidies.
The Importance which the Depart
mcnt of Agriculture and of Com
mcrce and Labor may play in ridding
the markets of Europe of prohibit
ilons and determinations against the
importation of our products is
fully understood. and it is hoped that
the use Of the maximum and mini
mum feature of our tariff law TO be
soon passed viii be effective TO re-
move many of those restrictions.
The Panama Canal.
The Panama Canal will have
most important bearing upon the
trade between the eastern and the
far western sections of our country.
and will greatly increase the facih
Ties for transportation between the
eastern aud the western seaboard.
and may possibly revoluiiouize the
transcontinental rates with respect
to bulky merchandise. Ii will also
have most beneficial effect to in
crease the trade between the eastern
>eaboard of the United States and
the western coast of South America.
and. indeed. with some of the i'm
porfant ports on the ess, coast of
South America reached by rail from
the west coast. The work on the
canal Is making mos, satisfactory
progress. The type of the canal as
a lock canal was fixed BY Congress
after a full consideration of the con-
ricting reports of the majority and
of the consulting board. and
after the recommendation of the
War Department and the Executive
upon those reports. Recent sugges-
iion that something had occurred on
the lsthmns 10 make the lock types
Of the canal less feasible fhan II was
10 be when the reports were
made and the policy determined on.
led TO a visit 10 the ISihmns of q
board Of competent engineers to ex-
anime the Gaiun dam and locks
which are the kew of the lock type.
The report Of that board shows that
nothing has occurred IN the nature
of newly revealed evidence which