The French Broad hustler. [volume] (Hendersonville, N.C.) 1896-1912, 1909-03-11

Commission lately appointed IS g1y-
ing full consideration to existing con.
ditions and to all proposed remedies.
and will doubtless suggest n that
will meet the requirements Of bust
ness 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 capital of
of those who would have greater ex-
pansion 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 Sc likely to
evoke differing views and dogmatiC
statements as this one. The Com
mission in studying the general In
fuence of currency on business and
of business on currency, have wisely
extended their Investigations in Eu-
ropean banking and monetary meth
DDS. The information that they have
derived from such experts al 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. 1t
will not be unwise or excessive pater-
nalism. The promise to repay by the
Government will furnish an induce
ment to savings deposits which pri-
vate enterprise cannot supply, and at
such a low rate Of interest as not to
withdraw custom from existing
banks. It will substantially increase
the funds available for investment as
capital in useful enterprises. 1t will
furnish the absolute security which
makes the proposed scneme of gev-
eminent guaranty of deposit so allur-
ing without its pernicious results.
Our Foreign Trade.
/ sincerely hope that the incoming
Congress will be alive, as it should
be, to the Importance of foreign
trade and of encouraging it in every
way feasible. The possibility of in
creasing this trade in the Orient in
the PHILIPPINES and in South America
are known to everyone who has
given the matter attention. The di-
rect effect of free trade between this
country and the PHILIPPINES will be
marked upon our sale of cotton, ag-
~ :, p, ~ ooh1oor-E on1 ARAo- ~
ufactures. The necessity of the es-
adjustment of direct lines of steam
ers between North and South Am
erica has been brought to the at
tention of Congress by my predeces-
sor, and by Mr.. Root before and after
his noteworthy visit to that continent
and I sincerely hope that Congress
may be induced to see the wisdom of
a tentative effort to establish such
lines by the use of mail subsidies.
The Importance which the Depart
ment of Agriculture and of Com
merce and Labor may play in Kidding
the markets of Europe of prohibi-
tions and determinations against the
importation of our products is
fully understood, and it is hoped that
the use of the maximum and mini
mum feature of our tariff law to be
soon passed will be effective to re-
move many of those restrictions.
The Panama Canal.
The Panama Canal will have a
most important bearing upon the
trade. between the eastern and the
far western sections of our country,
and will greatly increase the facili-
ties for transportation between the
eastern and the western seaboard,
and may possibly revolutionize the
transcontinental rates with respect
to bulky merchandise. 1t will also
have a most beneficial effect to in
crease the trade between the eastern
seahOard 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
the west coast. The work on the
canal is making most satisfactory
progress. The type of the canal as
lock canal was fixed by Congress
after a full consideration of the con-
ficting reports of the majority and
minority of the consulting board, and
after the recommendation of the
War Department and the Executive
upon those reports. Recent sugges-
ton that something had occurred on
the Isthmus to make the lock types
of the canal less feasible than it was
supposed to be when the reports we're
made and the policy determined on,
led to a visit to the Isthmus of a
board of competent engineers to ex-
anime the Gatun dam and locks
which are the key of the lock type.
The report of that board shows that
nothing has occurred in the nature
Of newly revealed evidence which
should change the views once fromed
in the original discussion. The con-
Struction will go on under a most
effective organization controlled by
Colonel Goethals and his fellow army
engineers associated with him, and
will certainly be completed early in
the next Administration, if not be-
fore.
Some type of canal must be con-
structed. The lock type has been
selected. We are all in favor of hav-
ing it built as promptly as possible.
must not now, therefore, keep
up a fire in the rear of the agents
whom we have authorized to do our