Orange County observer. [volume] (Hillsborough, N.C.) 1880-1918, 1909-03-11

Commission lately appointed Is eiy-I
full consideration to existing con-
dltions and to all proposed remedies.
and will doubtless suggest one that
will meet the requirements Of bust
ness and OF public interest. We NAV
hope that the report will .embody
neither the narrow view of those who
believe that the sole purpose Of the
system should be to secure a
large return on banking capital Of
of those who would have greater exl
pansion Of currency with little re- |
gard to provisions for its immediate
redemption or ultimate security.
There is no subject Of economic dis
cusslon SO intricate and so likely to
evoke differing views and dogmatic
statements as this one. The Com
mission in studying the general in
f1uence Of currency on business and
Of business on currency, have wisely
extended their Investigations in Eu-
ropean banking and monetary meth
DDS. The information that they have
derived from such experts as they
have found abroad will undoubtedly
be found helpful in the solution Of
the difficult problem they have in
hand
Postal Savings Bank.
The incoming Congress should
promptly fulfill the promise of the
Republican platform and pass a
proper Postal Savings Bank bill. It
will not be unwise or excessive pater-
nalism. The promise to repay by the
Government will furnish an induce
ment to savings deposits which pri-
vate enterprise cannot supply, and at
such a low rate Of interest as not to
withdraw custom from existing
banks. It will substantially increase
the funds. available for investment as
capital in useful enterprises. It will
furnish the absolute security which
makes the proposed scheme Of gev-
eminent 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, to the Importance Of our foreign
trade and Of encouraging it in every
way feasible. The possibility of in
creasing 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, ag-
ricultural machinery and other man
ufactures. The necessity Of the es.
Establishment Of direct lines Of steam.
ers between North and South Am.
erica has been brought to the at
t%ention Of Congress by my predeces
sor, and by Mr.. Root before and aftel
his noteworthy visit to that continen'
and [ sincerely hope that Congress:
may be induced to see the wisdom O.
a tentative effort to establish sucl
lines by the use Of mail subsidies.
The Importance which the Depart
ment of Agriculture and of Com
merce and Labor may play in Kidding
the markets of Europe of prohibi
tons and determinations against tn
importation Of our products j
fully understood, and it is hoped tia
the use Of the maximum and mini
mum feature of our tariff law to b
soon passed will be effective to re
move many Of those restrictions.
The Panama Canal.
T1o Do,,oroo Co~o1 rv,11 1oxo
most important bearing upon th
trade between the eastern and tn
: far western sections Of u countr.
: and will greatly increase the facil
ties for transportation between tt
Y eastern and the western seaboar
: and may possibly revolutionize Il
transcontinental rates with respet
to bulky merchandise. It will al!
t have a most beneficial effect to il
crease the trade between the easter
f seaboard Of the United States ar
e the western coast Of South Americ
and, indeed, with some Of the in
portant ports on the east coast
J. South America reached by rail fro
the west coast. The work on Il
canal is making most satisfacto
progress. The type Of the canal
i a lock canal was fixed by Congre
i after a full consideration of the co
l. ficting reports Of the majority a
o minority Of the consulting board, a
} after the recommendation of t
ir War Department and the Execute
20 upon those reports. Recent sugg'
ton that something had occurred
l. the Isthmus to make the lock tyr
v Of the canal less feasible than it W
1r supposed to be when the reports we
e. made and the policy determined
y, led to a visit to the Isthmus Of
IF board Of competent engineers to
Of anime the Gatun dam and loo
III which are the key Of the lock ty]
al The report Of that board shows tt
n nothing has occurred in the natu
to Of newly revealed evidence VIII
O. should change the views once from
in the original discussion The q,