The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1909-03-04


Of currency ON business and of busi-
ness on currency have wisely extend
ed their Investigations in European
banking and monetary methods. 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.
Favors Postal Savings Banks.
The incoming congress should
promptly fulfill the promise of the Re
publican platform and pass proper
postal savings bank bill. 1t 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 low
rate of interest as not to withdraw
custom from existing banks. 1t will
substantially increase the funds avail
able for Investment as capital In use
| full enterprises. 1t will furnish the
absolute security which makes the
proposed scheme of government guar
L aALy VI uSppSlLc oo "ithVot
its pernicious results.
Ship Subsidies Advocated.
| l sincerely hope that the incoming
congress will be alive, as 1t should be,
to the Importance of our foreign trade
and of encouraging it 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
attention. The direct effect of free
trade between this country and the
Philippines will be marked upon our
sale of cottons, agricultural machinery
and other manufactures. The necessi-
ty Of the establishment of direct lines
of stea mers between North and South
America has been brought to the at
tention OF congress by my predecessor
and by Mr.. Root before and after his
noteworthy visit to that continent, and
sincerely hope that congress may be
induced to see the wisdom of tenta-
tive effort to establish such lines by
the use of mail subsidies.
The Importance which the depart
/ lQtuI Vi dkIICuituIG anu VA NoblmCA NC
and labor may play In ridding the
markets of Europe of prohibitionSand
determinations against the importa-
ton Of our products is fully under
stood, and it is hoped that the use Of
the maximum and minimum feature
of our tariff law to be soon passed will
be effective to remove many of those
restrictions.
Lock Canal Plan Defended.
The Panama canal will have a most
important bearing upon the trade be-
| tween the eastern and the far west
ern sections of our country and will
greatly increase the facilities for
transportation between the eastern
and the western seaboard and may
possibly revolutionize the transconti-
mental rates with respect to bulky mer-
| chandise. 1t will also have a most
beneficial effect to increase the trade
between the eastern seaboard of the
| United States and the western coa5t
of South America and indeed with
some of the important ports of the
east coast of South America reached
by rail from the west coast. The
work on the canal Is making most sat
| isfactory progress. The type of the
| canal as q lock canal was fixed by
congress after a full consideration of
the conflicting reports OF the majority
and minority OF the consulting board
and after the recommendation of the
war department and the executive
II Nnr+es tt.Sy,
that something had occurred on the
isthmus to make the lock type of the
canal less feasible than Ii was sup
posed to be when the reports were
made and the policy determined on
led to q visit to the isthmus of a
board of competent engineers to exam
Inc the Gatun dam and locks which
are the key Of the lock type. The re-
port Of that board shows that nothing
has occurred i'm the nature OF newly
revealed evidence which should change
the views once formed In the original
discussion. The construction win &C
on under a most effective organization
controlled by Colonel Goethals and his
. fellow army engineers associated with
L ahh NCi bS NolhpICtCS
early In the next administration, IL not
before.
Some type Of canal must be con
structed. The lock type has been Sc
lected. We are all in favor Of having
/ 1t built as promptly as possible. We
, must not now, therefore. keep up a fire
in the rear of the agents whom we
have authorized to do our work on
the isthmus. We must hold up their
hands. and, speaking for the incoming
administration, l wish to say that
! propose to devote all the energy possi
! bic and under my control to the push
ing Of this work on the plans which
. have been adopted and to stand behind
the men who are doing faithful hard
york to bring about the early compile.
, tion OF this the greatest constructive
, enterprise of modern times.
: Free Trade With Philippines.
I The governments of our dependen
8 eies In Porto Rico and the Philippines
e are progressing as favorably as could
E be desired. The prosperity Of Porte
t Rico continues unabated. The bust