Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1909-12-11

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| be lost. the indispensable Instrumental
fly presented itself when a group Of
! American bHDkers Of International
reputation and great resources agreed
at once TO share in he loan upon pre-
cisely such terms as this government
should approve The chief of those
! terms was that American railway ma
terial should be upon an exact equality
! with that of the other nationals join
/ ing in the loan in the placing Of or
/ ders for this whole railroad system.
| After months of negotiation the equal
! participation Of Americans seems at
! last assured.
| In one of the Chinese-Japanese con-
! ventions Of Sept. l of this year there
/ was a provision which caused consid-
/ cradle public apprehension In that
! upon its face 1t was believed la some
| quarters to aeek to establish a monop-
oily OF mining privileges along the
| South Manchurian and Antung- Muk-
| den railroads and thus to exclude
| Americans from a wide field of enter
| prise, to take part in which they were
| by treaty with China entitled. After
! a thorough examination of the conven-
| tons and Of the several contextual
/ documents the secretary of state reach
| ed the conclusion that no such monop-
! oily was intended or accomplished.
| This government made inquiry of the
imperial Chinese and Japanese gov
| ernments and received from each Off
cial assurance that the provision had
| no purpose inconsistent with the poll
cy Of equality of opportunity to which
the signatories. In common with the
United States. are pledged.
Our traditional relations with the
Japanese empire continue cordial, as
usual. The arrangement of 1908 for
| a cooperative control of the coming
of laborers to the United States has
proved to work satisfactorily The
matter of revision of the existing
treaty between the United States and
Japan which Is terminable in 1912 Is
already receiving the study of both
countries
The Department of State.
| earnestly recommend to the favor
able action of the congress the esti-
mates submitted by the department Of
state aud most especially the legisla-
| ton suggested in the secretary of
states letter of this date whereby 1t
will be possible to develop and make
permanent the reorganization of the
department upon modern lines in a
manner to make 1t thoroughly eff
| ficient instrument In the furtherance
| of our foreign trade and of American
| interests abroad.
! Under provision of the act of Aug.
! B, 1909. have appointed three officials
! to assist the officers of the government
! in collecting information necessary to
! wise administration of the tariff act
| of Aug. ), 1909. As to questions OF
customs administration they are CO.
! operating with the officials of the
! treasury department and as to matters
! of the needs and the exigencies of our
manufacturers and exporters with the
| department of commerce and labor in
| its relation to the domestic aspect OF
the subject of foreign commerce.
| AS a consequence Of section 2 of the
! tariff act OF Aug. 3, 1909. 1t becomes the
! duty of the secretary of state to con-
duct as diplomatic business all the
negotiations necessary to place him In
| a position to advise me as to whether
! or not a particular country unduly dis
| eliminates against the United States
! in the sense of the statute referred to,
! Government Expenditures and Rev
! enues.
Perhaps the most important Ques-
| ton presented TO this administration
is that of economy in expenditures and
! sutIiciency of revenue.
The report of the secretary shows
that the ordinary expenditures for the
current fiscal year ending June so,
| 1910, will exceed the estimated re-
! ceipts by $34.075.620 If to this deficit
are added the sum to be disbursed for
| the Panama canal. amounting TO $685.
! 100000. and S1.00o.000 to be paid on
| the public debt. the deficit of ordinary
! receipts and expenditures will be in
| creased TO a total deficit of S73075, $40.
! This deficit the secretary proposes to
! meet by the proceeds of bonds issued
! to pay the cost of constructing the
| Panama canal | approve this pro-
posal,
The Panama Canal.
The policy of paying for the con
| struction of the Panama canal not
| out of current revenue, but by bond
issue, was adopted In the Spooner act
| Of 1902. and there seems to be no good
reason for departing from the pIinci-
| pie by which a part at least of the
! burden of the cost of the canal shall
| fall upon our posterity. who are TO
enjoy it, and there is all the more rea-
son for this view because the actual
cost to date of the canal. which is now
half done and which will be completed
Jan. /, 1915. shows that the cost of
engineering and construction will be
1927. 10000 instead Of $3.50, 705 200 as
| originally estimated. In addition to
engineering and construction the 9th
er expenses including sanitation and
government and the amount paid for