The Dillon herald. [volume] (Dillon, S.C.) 1894-????, 1909-03-11

Commission latsly appointed 10 Civ
ing full consideration to existing con-
ditions and to all proposed remedies,
and will 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 tho sole purpose Of the
new system should be to secure a
large return on banking capital Of
OF those who would have greater ex-
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
fuence 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
the difficult problem they have in
Eand
Postal Savings Bank.
The incoming Congress should
promptly fulfill the promise of the
Republican platform and pass
proper Postal Savings Bank bill. 1t
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. 1t 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.
L 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
gwen 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-
ncultural machinery and other man
ufactures. The necessity of the es-
adjustment of direct lines of steam
ers between North and South Am
erica has been brought to the at
tention of Congress BY nv predeces-
sor. and by Mr.. Root before and after
his noteworthy visit to that continent
and l sincerely hope that Congress
may be induced 10 see the wisdom of
4 tentative effort 70 establish such
lines by tie use OF mail subsidies.
The importance which the Depart
ment Of Agriculture and OF Com
neree and Labor may play in Kidding
TIE markets OF Europe OF prohibi-
tions and Determinations against the
importation Of our products is
fully understood. and j, IS hoped that
the use of the maximum and mini
mum feature of orr tariff Law TO be
soon passed will be effective to re-
move many Of those restrictions.
Tie 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 faciii-
lies for transportation between the
eastern and the western seaboard.
and may possibly revolutionize the
transcontincntal rates with respect
to bulky merchandise. 1t will also
have a most beneficial effect TO in
crease the trade between the eastern
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
canal is making most satisfactory
progress. The type Of the canal as
n lock canal was fixed by Congress
after full consideration of the con-
ficting reports of the majority and
minority of the consulting board, sod
after the recommendation of the
War Department and the Executive
upon those reports. Recent sugges-
ton that something had occurred on
the 1sthmus to make the lock types
of the canal less feasible than it was
supposed to be when the reports were
made and the policy determined on,
led to visit to the Isthmus of
board of competent engineers to ex-
anime the Gatun dam and locks
which are the key of the lock type.