The daily telegram. [volume] (Clarksburg, W. Va.) 1901-1926, 1909-03-04


Promise NE auuot nermif the nnssi.
BIZ failure 4 5nstice due 70 local pfe;n.
llice II any uteor municipal govern.
menf q expose IS e tbe risk N war
which might ~ avoided n fcdcrsi
Jurisdiction WIS Asserted 81 suitable
legislation BY congress- and carried out
Isl proper proceedings instituted BY
TIE executive m tie courts q the naS
tionai goYernment
Mcnetars Laws Need Change.
One 81 the reforms % be carried ont
during fiae incoming admins ration Il
i change 81 oul' monetary and banking
laws So as to secure greater elasticity
IN The forms u currency available for
trade and 10 prevent the limitations Of
LAW from operating 70 Increase line en-
barr ssmerits Of q financial panic. The
noiietary coninis sion iateiy appointed
\ - giving fnll conside ratioii 10 Existing
conditions ana 20 all proposed remes
dies and viii doubt Jess suggest one that
VIII meet the Requirements 81 business
and 81 public Interest. We may hope
/ that the report vi embody neither the
narrow view ~ those ii no believe that
the sole purpose Of the new system
should be 70 secure q large return on;
banking capital nor. Of oseiwho would
have grenter expansion Of currency
with little regard TO proFisions for. its
Immediate redenpti Ion or ultimate se-
curity. There Is no snbject Of SeconoIn-
lie discussion so intricate and 50 likely
Ito evoke differing views and dogmatic
statements as this one. Tie commits
sion IN studying the general influence
I OF currency on business and &c bust
iness on currency have wisely extend.
led their Investigations In European
banking alil monetary methods The
4 information TINT. they have derived
from such experts rs they have feund
abroad wilt undoubtedly be found
helpful In the solution Of the difficult
| problem they have in hand. 4
Favors Postal Savings Banks.
The incoming congress should
.promptlysfuit1ll the promise OF the Re.
publican platform aud pass a proper
4 postal savings bank bill 1t will not,
lshe unwise or excessive paternalism.
The promise to repay BY the govern.
I.ment VIII furnish an inducement to
savings deposits which private enter.
prise cannot supply and at such a low
rate Of interest rs not to withdraw
custom from existing hunks. IL win
substantially increase the funds avail.
able for Investment us capital in use.
ftiI enterprises 1t will furnish the
absolute security which makes the
\ proposed scheme of government guar.
anty of deposits so alluring without
its perniclous results.
/ Ship Subsidies Advocated.
sincerely hope that the incoming
congress viii be alive, as 1t should be.
to the Importance Of our foreign trade
and OF encouraging 1t in every way
feasible. The 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
i attention. The direct effect Of free
trade between this country and the
Philippines will be marked upon our
sale y cettons' agflcultVrai machinery
ana otneF ns al.aaiaetures. Inc neeesst-
y %. me lesttot1sEnent OF direct lines
ot sle,pu'e ", between North ahd South
. .'ll0,t mas peeh Drought TO the at,
len1ion o. CONFESS y ~ ny my predecessor
anu py alr. ROOF oeIoFe ana AFTER his
Iosewore =, , WISH 70 tl'at comment ana
slnee l hope l.iat congress may oe
! l, y. y !. sse tne %lsuom OF tenta'
t ..sS slioss - ), est1pl'sn sucn Iihes by
'n .,,, use u nau supslu ,.
me lLnl'ol l,al,s Wnlsh tne depart
ihe s oL astleultits ana OF commerce
anu laDor may pay N RIDING the
i sl.s q, EUROPE g PROMOTIONS and
alscrilaiilatlons ta as'lt Tue lmporta'
t,on OF our prouucts Is luiiy under.
stuou' ullu y y nopeu tnat tue use OF
.1 ~ niaA ~. =, ahu minimum feature
~ our y tatlh "a" " We soon passed VIII
pe etectlse 70 remove many Oh those
4 INSTRUCTIONS.