The daily sentinel., 1909-03-04

once fiANihg assured to other cOuA \
tries By treaty the protection OF our
laws for such OF their subjects or
| citizens as We permit to come within 4
our jurisdiction. we now leave to 4
state or city. not under the control
of the federal government. duty OF
/ performing our International obiga |
tions in this respect BY proper legis |
! lation we may. and ought to. place in /
the hands of the federal executive the /
means of enforcing the treaty rights
of such aliens in the courts OF the fed |
eral government 1t puts our govern
ment in a pusillanimous position to-
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 a position to
perform our promise. We cannot per
nit the possible failure Of justice due
to local prejudice in any state or mu
] nicipal government to expose us to
| the risk OF a war which might be
avoided ii federal jurisdiction was as
serted by suitable legislation by con
! gress and carried out by proper pro
/ ceedings Instituted by the executive.
in the courts of the national govern
ment-
Reforms Called for in
Monetary and Banking Laws.
! One Of the reforms to he carried
out during the incoming administra-
/ ton is a change of our monetary and
banking laws. so as to secure greater
elasticity in the forms of currency
/ available for trade, and to prevent the
| limitations of law from operating to
! increase the embarrassments OF
! financial panic. The monetary COM
| mission lately appointed is giving fun
consideration TO existing conditions
and TO all proposed remedies. and will
| doubtless suggest one that will meet
| the requirements of business and of
| public interest. We may hope that
| the report win embody neither the mar
| row view of those who believe that the
sole purpose of the new system should
be TO secure large return on bank
ing capital or of those who would
have greater expansion of currency
with little regard to provisions for its
immediate redemption or ultimate Sc
| curity. There is no subject of eco
| nomic discussion so intricate and so
likely TO evoke differing views and
doSmatic statements as this one. The
commission In studying the general in
1 fuence of currency on business and
of business on currency. have wisely
| extended their investigation in Euro
pean banking and monetary methods.
The information that they have de
rived from such experts as they have
found abroad will undoubtedly be
found helpful in the solution of the
difficult problem they have In hand.
Urges Prompt Passage of
Postal Savings Bank Bill.
The incoming congress should
promptly fulfill the promise of the Re
publican platform and pass 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 low
rate of interest as not to withdraw
custom from existing banks 1t viii
substantially increase the funds avail
able for Investment as capital in use
/ fui enterprises. II will furnish the
| absolute security which makes the
/ proposed scheme of government guar
anty o. deposits so aluring without
/ its pernicious results
| 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 increas-
/ ing this trade in the orient, in the
! Philippines and in South America are
known to everyone who has given the
matter attention.
The Importance which the depart
ment of agriculture and of commerce
and labor may play in Kidding the
| markets of Europe of prohibitions and
Determinations against the importa-
ton of our products is fully under
| stood and Il is hoped that the use of
/ The maximum and minimum feature
4 of our tariff law to be soon passed
! win be effective to remove many OF
\ those restrictions.
No Prospect of Failure in
7 Building of Panama Canal.
The Panama canal will have a most
| important bearing upon the trade be
tween the eastern and the far western
sections of our country. and will great
I ly increase the facilities for transpor
tation between the eastern and west
ern seaboard, and may possibly revo-
| lutionize the transcontinental rates
with respect to bulky merchandise. II
win also have a most beneficial effect
to increase the trade between the east
ern 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