The Robesonian. [volume] (Lumberton, N.C.) 1870-current, 1909-03-04

lcSBldllou Dy congress ana carried out
by proper proceedings instituted by
the executive in the courts of the ma
uonal government.
Monetary Laws Need Change.
One Of the reforms to be carried out
during the incoming administration is
a change Of our monetary and banking
laws so as to secure greater elasticity
In the forms of currency available for
trade and to prevent the limitations Of
law from operating to increase the en-
barrassments of financial panic. The
monetary commission lately appointed
Is giving full consideration to existing
conditions and to all proposed RENE
dies 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 a 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-
1c discussion so intricate and so likely
to evoke differing views and dogmatic
statements as this one. 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 a 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 a 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 lie 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 matte
attention. The direct effect of fire.,
trade between this country and tn,
Philippines will be marked upon gu
sale of cottons, agricultural machiner.
and other manufactures. The necesSi
ty Of the establishment of direct line
of Ateamers between North and Soutl
! Ar erica has BEEN brought to the at
aer, or congress, BY my f4eQe-esso
by Mr.. Root before and after hi
noteworthy visit to that continent, an
sincerely hope that congress may b
induced to see the wisdom Of a tents
tive effort to establish such lines
the use of mail subsidies.
The Importance which the depar
ment of agriculture and of commerce
and labor may play in Kidding th
markets of Europe of prohibitions an
determinations against the import;
i. ton of our products is fully unde
stood, and it is hoped that the use {
! the maximum and minimum featu1
, of our tariff law 10 be soon passed wi
3 be effective to remove many of thos
| restrictions.
Lock Canal Plan Defended.
r The Panama canal will have mo:
4 important beari:,s upon the trade b.
e tween the cas-: n and the far ives
t ern sections OF ,ur country and wi
4 greatly increase the facilities fl
3 transportation between the easter
: and the western seabOard and ma
possibly revolutiU niZe the TRANSPORT
mental rates with respect to bulky me
@ chandise. It will also have mo-
beneficial effect to increase the trad
= between the eastern seaboard of II
- United States aEl the western Goa
Of South America and indeed vii
some of the important ports of tt
east coast Of South America reache
by rail from the west coast. II
:; work on the canal is making most So
:, isfactory progress. The type of Il
. canal as a lock canal was fixed
congress after a full consideration
= the conflicting reports of the MAORI
y and minority Of the consulting boa
and after the recommendation Of t
war department and the executi
upon those reports. Recent suggesti'
that something had occurred on t
- isthmus to make the lock type of t
v canal less feasible than it was su
posed to be when the reports we
10 made and the policy determined
= led to a visit to the isthmus of
~ board Of competent engineers to eXa
u Inc the Gatun dam and locks viii
= are the key of the lock type. The !
- port of that board shows that nothi
- has occurred in the nature Of new
oe revealed evidence which should chan
10 the views once formed in the origin
= discussion. The construction will
20 ON under most effective organizati
:" controlled by Colonel Goethals and
10 fellow army engineers associated W
20 him and will certainly be complet
" early In the next administration, if I
:. before.
~ Some type of canal must be G.
~ structed. The lock type has been
lected. We are all in favor Of havi