The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1909-03-12

Is giving full consideration to existing
conditions and to all proposed rene
lies and will doubtless suggest one that
will meet the requirements of business
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 large return on
! banking capital nor 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 econom-
| lc discussion 50 intricate and so likely
to evoke differing views and dogmatic
statements as this ore. The commits
sion in studying the general influence
| of currency on business and Of bust
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. It will not
! be unwise or excessive paternalism.
The promise TO repay by the govern
ment will furnish an inducement to
! I'll
prise cannot supply and at such Il 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
! anty of deposits so alluring without
! Its pernicious results.
Ship Subsidies Advocated,
! I 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
| 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 Nh Root before. and after his
| noteworthy visit to that continent. and
! ! sincerely hope that congress may be
Induced to see the wisdom of tenta-
j 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 it is hoped that the use of
| the maximum and minimum feature
of our tariff law to be soon passed will
restrictions.
Lock Canal Plan Defended.
! The Panama canal will have 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 seSboard and may
possibly revOlutionize the transcOnti-
mental rates with respect to bulky mer-
chandiSe. 1t will also have 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
canal as 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 recommends ton 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 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
| the views once formed in the original
| discussion. The construction will go
| on under 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
before.
Some type of canal must be con
structed. The lock type has been Sc
| lected. We are all in favor Of having
| It built as promptly as possible. We
| must not now. therefore, keep up fire
| in the rear of the agents whom we
have authorized to do our work on
| the isthmus We must hold up their
| In md ror tho IN N