The Montgomery advertiser., 1909-03-05

make definite engagements to protect aliens and then to excuse the failure to perform those engagements by an explanation that the duty to keep them Is in states or cities, not within our control. If we would promise, we must put ourselves in position to perform our promise. We cannot per- init the possible failure of justice due | to local prejudice In any state or munt- cipal government to expose us to the risk of a war which might be avoided l If Federal jurisdiction was asserted by suita ble Legislation by Congress and stituted by the executive. in the courts | of the national government
 "One of the reforms to be carried out during the incoming administrh ! banking laws. so as to secure greater i elasticity in the forms of currency available for trade, and to prevent the 1 limitations of law from operating to | increase the endorsements of a financial panic. The Monetary Com. mission lately appointed Is giving full consideration to existing conditions and to all proposed remedies. and will the requirements of business 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 to | secure a large return on banking capt- tai nor of those who would have great 1 CT expansion of currency with little re- gard to provisions for its immediate | redemption or ultimate security. ] There is no subject of economic dis cussion so intricate and so likely to evoke differing views and dogmatic statements as this one. The Commis- sion In studying the general influence of currency on business and of busi- | ness on currency. have wisely extended their investigations in European bank l ing and monetary methods, The in- formation that they have derived from i 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. II will not be unwise or excessive paternalism The promise to repay by the govern ment will furnish an inducement to savings deposits which private enter prise cannot supply, and at such q low
 rate of interest as not to withdraw custom from existing banks. IL vii
 substantially increase the funds avail
 able for investment as capital In use
 iul enterprises, It will furnish th' absolute security which makes the pro
 posed scheme of government guaranty
 of deposits so alIuring without it'
 pernicious results.
 T sincerely hope that the incoming
 Congress will be alive as it should be
 to the importance of our foreigI
 trade and of encouraging 1t In every
 way feasible. The possibility of in
 creasing this trade in the orient il
 the Philippines and in south America
 are known to everyone who has RlVeI
 the matter attention The direct ef
 feet of free trade between this coun
 try and the Philippines will be marked
 upon our sale of cottons. agriculture
 machinery and other manufactures
 The necessity of the establishment O
 direct lines of steamers between Norti
 and South America has been brough
 to the attention of Congress by m,
 predecessor, and by MT. Root befor
 anI after his noteworthy visit to Una
 continent. and l sincerely hope tha
 Congress may be induced to see tn
 wisdom of tentative effort to estab
 fish such lines by the u-5e of mail sud
 sides
 , "The importance which the Depart |, ment of Agriculture and of Commerc and Labor may play in rIdding tn markets of Europe of prohibitions an dtsCrimnations against the lmporta tion of our products Is fully under stood. ana it is hoped that the use 0 , the maximum and minimum feature o our tariff law to be soon passed vii . be effective to remove many or tAos , ..The Panama Canal will have a mos , important bearing upon the trade be tween the eastern and tho far WeStcr sections of our country. ana Will great = lv increase the facilities for transpof tation between the eastern and tn
 western seaboard, and may posslbt B revolutionize the transcontinental rate . with respect 10 bulky merchandise. will also have a most beneficial et . feet to increase the trade between tn F eastern seaboard of the United State . and the western coast of south Amer F ica. and. indeed. with some of the I'm |, portant ports on the east coa<t C , SOuth America reached hy rail fTol . the west coast The work on the cant 3 Is making most satisfactory progress T The type of the canal as a lock cana was fixed by Congress after full con ? sfderation of the conflicting reports ( B the majority and minority of the con 3 sulting hoard, and after the recOmmer . dation of the War Department and th } ] executive upon these reports. Recer