Coeur d'Alene evening press. (Coeur d'Alene, Idaho) 1907-1929, 1909-03-04

the executive in the courts Of the y
tional government
Monetary Laws Need chanaa
One of the reforms to be carried q,
during the incoming administrators Il
a change of our monetary and banks.
laws so as to secure greater elastlrf,s
in the forms of currency available
trade and to prevent the limitation "
law from operating to increase the IN
barrassments of financial panic. m.
monetary commission lately appolnfas
is giving full consideration to existin.
conditions and to all proposed rema
dies and will doubtless suggest one thas
will meet the requirements of busInees
and of public interest. We may hon
that the report will embody neither ~
narrow view of those who believe that
the sole purpose of the new syatem
should be to secure a large return n
banking capital nor of those who woula
have greater expansion OF currenev
with little regard to provisions for ~
immediate redemption or ultimate 4.
curity. There is no subject Of econons
lie discussion so intricate and so Hkelv
to evoke differing views and dogmatie
statements as this one. The commits.
sion in studying the general influence
of currency on business and Of bus,.
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 win
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
anty of deposits so alluring without
It's pernicious results.
1 sincerely hope that the incoming
congress will be alive, as 1t should be-
to the Importance of our foreign trade
and Of encouraging 1t 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 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 bis
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
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 1t 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.
! Tho Panama canal will haVa n FnO9f
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 reyOlutionize 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 coast
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
| lanai 40 AoSA canal was HAe0 W
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
upon those reports. Recent suggestion
that something had occurred on the
isthmus to make the lock type of the
canal less feasible than it was sup
posed to be when the reports were
made and the policy determined on
/ led to a 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 in the nature OF newly
revealed evidence which should change