The herald and news. [volume] (Newberry S.C.) 1903-1937, 1909-12-10


be lost. the Indispensable i:!$;:uniei.!.:;'
ity presented itself when group G;
American baukcrS ut lntc""atiVl.;:!
reputation and great resources agree"
at once To- share in !he i.s:!E u!"'n :"
ciseIy such terms is this @overM!l ~
should approve. The chief Of th"*e
terms was that American railway l!A-
terial should be upon an exact eHuahty
with that Of the other nationals JuIn-
ing in the loan in the pi;iring Of VI
ders for this whole railroad system.
After months of negotiation tie eGua'
participation of Americans seems al
last assured.
In one of the Chinese-Japanese cnn-
yentions of Sept. Of this year there
was a provision which caused co;r:!d-
erable public apprehension il th";
upon it's face it was believed III some
quarters to seek to esta blish monop-
oly of mining privileges along the
South Manchurian and Antnh2-MuH-
den railroads and thus to 'N"lu;i>'
Americans from wide field G! rii;:'.'-
prise. to take part in which they W2f"
by treaty with China entitled. MteF
q thorough examination Of the conven-
tious and Of the several conteStual
documents the secretary OF state reach
ed the conclusion that no such monOp-
DIV was intended or accomplished.
This government made inquiry Of the
imperial Chinese and Japanese gov-
.rnments and received from each OH
cial assurance that the provision had
no Durpose inconsistent with the poll
cy of equality of opportunity TO Which
the signatories, in common with the
United States. are pledged.
Our traditional relations with the
Japanese empire continue Cordial. as
usual. The arrangement OF 1908 TOT
co-operative control Of the coming
Of laborers to the United States has
proved to work satisfactorily. Ihc
matter of a revision of the existing
treaty between the United States and
Japan which is terminaDle in 1917 Is
already receiving the study of both
countries.
The Department Of State.
1 earnestly recommend to the favor
able action of the congress tn" est
mates submitted BY the department of
state and most especially the lesiSl;'-
ton suggested in the secretary OF
states letter Of this date whereby Ii
+ will be possible to develop Hnd make
permanent the reorganization OF the
! department upon modern lines IN q
manner to make it Thoroughly Ell
ficient instrument in the furIherance
Of our foreign trade aud of American
| interests abroad.
Under a provision Of the act OF Aug
5, 1909, / have appointed three Officials
to assist the officers Of the government
i In collecting Information necessary tc
q wise administration Of the tariff act
Of Aug. S, 1909. AS to questions OF
| customs administration they are CO.
operating with the officials OF the
treasury department and as to matters
Of the needs and the exigencies OF ouI
manufacturers aud exporters with tue
| department of commerce and labor IL
it's relation to the domestic aspect OF
| the subject of foreign commerce.
AS consequence Of section ? of tho
tariff act Of Aug. 5. 1909. il becomes the
! duty Of the secretary Of state to con
! duct as diplomatic business all the
negotiations necessary to place him IN
a position to advise me us 10 W,l1l hel
| or not particular country undui1 dis
| eliminates against the United State:
| in the sense of the statute referred l"
Government Expenditures and Rev,
enueS.
Perhaps the most important cues
| ton presented to this administration
| is that of economy in expenditures ;ino
sufticiepcy Of revenue.
| The report of the secretary shows
that the ordinary expenditures for the
current fiscal year ending June 30
1910, will exceed the estimated re-
; ceipts by $34.U75.G2O. If to this deficit
are Tue gull w O( O1oOuAoNN Iva
the Panama canal, amounting to $39.'
100000, and $1.OOO.00O to be paid on
the public debt. the deficit Of ordinary
receipts and expenditures will be i'll
creased to a total deficit Of $I3.075.62O
This deficit the secretary proposes tu
meet by the proceeds Of bonds issued
to pay the cost of constructing the
Panama canal | approve this pro-
posal,
The Panama Canal.
The pclicy of paying for the coH'
struction Of the Panama canal not
out of current revenue, but by bond
ISSUE was adopted in the Spooner act
of 1902, and there seems to be no good
reason for departing from the priucI-
pie by which part at least CT til"
burden of the cost Of the canal Shall
fall upon our posterity. who are to
enjoy it, and there is all the more rea-
son for this view because the actual
cost to date of the canal, which is now
half done and which will be completed
Jan. l, 1915, shows that the cost of