Evening journal. [volume] (Wilmington, Del.) 1888-1932, 1909-12-07

!
gent that this opportunity should not
| be lost. the Indispensable Instrumental
ity presented itself when a group OF
| American bankers Of international
reputation and great resources agreed
at once to share in the 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. / of this year there
was a provision which caused consid-
cradle public apprehension in that
upon its face It was believed in some
quarters to seek 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-
lions 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
ciaI 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 est-
mates submitted by the department OF
state and most especially the legisla-
ton suggested In the secretary OF
states letter Of this date whereby II
will be possible to develop and make
permanent the reorganization Of the
department upon modern lines in a
manner TO make II a thoroughly eff
fcient instrument In the furtherance
Of our foreign trade and Of American
interests abroad.
Under a provision of the act OF Aug
5, 1909. ! have appointed three officials
to assist the officers Of the government
In collecting information necessary L
wise administration Of the tariff &C
Of Aug 8. 1909. AS to questions o.
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 10 the domestic aspect OF
the subject Of foreign commerce.
As a consequence OF section 2 of the
tariff act Of Aug. 8, 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 State:
in the sense Of the statute referred to
Government Expenditures and Rev.
, enues.
Perhaps the most important ques
[ ton presented to this administration
e is that of economy In expenditures anC
b suthciency of revenue.
r The report Of the secretary show
o that the ordinary expenditures for thu
{ current fiscal year ending June 30
p 1870 will exceed the estimated re
T. ceipts by SS4OT5620 II 70 this dehci
d are added the sum TO be disbursed 70
a the Panama canal. amounting to S3S
Is 100000, and S1.OOO.O0O to be paid OF
l. the public debt. the deficit of ordinar,
/ receipts and expenditures will be in
,. creased to a total deficit OF 1905. 62C
v This deficit the secretary proposes L
Il meet by the proceeds of bonds ISSUES
: to pay the cost of constructing tn
d Panama canal. approve this pre-
e posal
= The Panama Canal.
The policy Of paying for the cor
Is struction of the Panama canal no
l. out Of current revenue. but by bon,
e issue. was adopted in the Spooner &C
q of 1902, and there seems to be no goo
r reason for departing from the primo
d pie by which a part at least Of III
a burden. of the cost Of the canal sha
h fall upon our posterity. who are {
!. enjoy It, and there is all the more res
o son for this view because the actus
Il cost to date of the canal, which is noV
e half done and which will be complete
y Jan. /, 1915. shows that the cost q
engineering and construction will b
S297. 100000 instead OF S139. 7o5 200. o
originally estimated. In addition
|. engineering and construction. the otl
er expenses. including sanitation an
government and the amount paid fc
y the properties. the franchise and II
" privilege Of building the canal Il
crease the cost by ST5.4S5.000 to
total Of SST5.201Oo0. The increase
tho cost Of engineering and constru
q ion IS due TO q substantial enlarge
= nent Of the plan Of construction b
= widening the CANAL 100 feet in the G.
ebra cut and by increasing the
- 81 ba labs ~ fha md