The Topeka state journal., 1909-03-04

AYENU

commission in studying the general
influence of currency on business and
extended their Investigations 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.
The incoming congress should
promptly fulfill the promise of the
proper postal savings bank bill. 1t
will not be unwise or excessive pa
ternalism. The promise to repay by
the government will furnish an in
ducement to savings deposits which
private enterprise can not supply, and
at such low rate of interest as not
to withdraw custom from existing
banks. 1t will substantially increase
the funds available for investment as
capital in useful enterprises. 1t will
furnish the absolute security which
makes the proposed scheme of gov
ernment guaranty of deposits so allur-
ing without its pernicious results.
L sincerely hope that the incoming
congress will be alive. as it should be,
to the Importance of our foreign trade
and of encouraging it in every way
this trade in the Orient, in the Philip
pines and in South America are known
to everyone who has given the matter
attention The direct effect of free trade
pines will be marked upon our sale of
cottons, agricultural machinery and
other manufactures. The necessity of
the establishment of direct lines of
steamers 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
I 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 department
of agriculture and of commerce and
labor may play in ridding the markets
of Europe of prohibitions and discrimi-
nations aginst the importation of our
products is fully understood, 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 re-
move many of those restrictions.
The 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
ly increase the facilities for transpor-
tation between the eastern and the
western Seaboard, and may possibly
revolutioniZe the transcontinental rates
with respect to bulky merchandise 1t
will also have most beneficial effect
to increase the trade between the east
ern seaboard of the United States and
the western coast Oh SOuCn America,
and, indeed, with some of the import
ant ports on the east coast of South
America reached by rail from the west
coast. The work on the canal is MAX
ing most satisfactory progress. The type
of the canal as a lock canal was fixed
by congress after full consideration
of the conflicting reports of the major
ity and minority of the consulting
board, and after the Recommendation
of the war department and the exeeu-
tive upon those reports. Recent sug-
gestion that something had occurred on
the Isthmus to make the lock type of
the canal less feasible thar it was sup
posed to be when the reports were
made and the policy determined on,