Pine Bluff daily graphic., 1909-03-05
Monetary Laws Need Change.


 t!." ry".u'ivc in th" r,,urts of the na.
 i""Hl 4everrn ,n,
 Monetary Laws Need Change.
 One oI tt" reforms tr s,V c;ttTita eft Gt,:'i!- lfc iaccr:'a@ atiiinislrtli J | T rji;}n1o of OUT rloncl;i>'N and ha';'>in,- laws so ;S 10 >ecErs greater elasticity ' i. \" forms of tr,irncE available for ,:.. ,,,. ;jl!d to plrvept he li}ntato.is of .aW i!ein operating 10 .nrs:ts, lle t:i- t rr:;>&!'n't:!s uf a linan"inl pauic. Ih, :<iuuctH!., ,uH.niatiun lately appointed. iS eivia~ ;'u,i conSideral ion to existing c"ltlii ic'fs aud % all proposed rcu."- dinS and Hi:! doubtless sliGgsst one that Will Eic"t iiie requirements of business a,d of rui,ic inttre We may hope ''si thc report will tlahody neither the t."lroW view of ti!os,. who hHlicyr that tiic suI" purpose uf lit" Jew system should tc to secure :: large return on bankitlg capital nor Of those who would have greater expansion of currency with little re"lrd to provisions for it's immediate redemption or ultimate SC cu"ity. There is Il" ;ubicct uf cconom- ic discussion so intricate and sc likely to evoke differing views and dogmatic statements as this one. Tho comyuis- sion in studying he general influence of currency on business and of buSi ness o, currency have wisely extend ed theil, estiyations in Europenn banhing Hnd monetary methods. The informatiou that they have derived from such experts as they have found abroad wii1 undoubtedly be found helpful in the st'iulion of the difficult "'a'li>yl they have in hand.
 Favors Posta! Savings Banks.
 Ti.c Incoming congress SIloufd promptly fulfil ihe promise of he Re publican platform and pass il proper postal sa ylngs bark blil. IL will uui be unwise or excessive i,atrrnalisin Tie promise ,o repay by thc govern men, will furnish :n iNI,ccineni in savings deposits which private r:.'ea mise can:,ot suppl, and ar such 2 io" tate ef interest :7s not tn vii hillaw cllston fron existing banks II wilt snbstan1ililv increase. hc funds await; able fer i.i4esiment i-s capital in use 'ul enterprises Ii vii, fuyaiiau ,ht absolute security which makes tlit :,ropn:.d scheme of government guar aGty of deposits SC alluring Wi,itnl. iss rcrnicious results
 Ship Subsidies Advocated.
 1 sincerely hope that the incoming congress will hc alive. az, il should be 10 the in.portan nee of our fore; ign trade ant, of encouraging IL in every Wa, fs.asible. TAe possibility of inereUsias pines and In South America is knoNi to every ouc who has given the matter attention The direct effect of frct trade between this country and the Philippines will be marked upon OUT sale oi 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 Mir. Root before and after his noteworthy visit to that continent. aud l sincerely hope that congress may he induced to see the wisdom of q tenla- the use of mall subsidies.
 The importance which the depart n,ent of agriculture and of commerce and labor may play ill ridding the markets of Europe of prohibitions and discriluinations against the importa- tion of our products is fully under stood. and 1t is hoped that the use of the maximum and ulnimum feature of our tariff law to be soon passed will be effective to remove many of those restrictions.
 Lock Canal Plan Defended.
 The Panama clual will have a most important bearing upon the trade be tween tn, eastern and the far Wc!,i crn 3ct.tiOlS of our country and will greatly increase the facilities fer tr;insI lortation nerWeen the eastern and inc western seaboard and may possibly rcvulutioni2c the transcoiiti mental rates with respect to bulky iner- chandise It will also have q most beneficial effect to increase the trade between the eastern sc2board of the United States and the western coast of South America ani! indeed with some of the important ports of the east coast of South Aniertca reached by rail from the west coast. The work on the canal Is Iuahing most sat isfactory progress. The type of tue canal as lock canal was fixed by congress after full consideration of the conflicting reports of. the majority and minority of the consulting beard 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 feas!b!e than 1t was sup posed to be when the reports were made and the policy determined on led to visi! to the isthmus of board of competent engineers to exam inc the Gatun dam and locks which are the key of the lock type. The re- port of tliat board shows that nothing has occurred i.l the nature of newly