The Daily Missoulian. [volume] (Missoula, Mont.) 1904-1961, 1909-12-08

carrying newspapers and periodicals
assists. l very much doubt. however.
the wisin moi n policy which consti-
tutcs so large a subsidy and requires
additional taxation to meet it.
Postal Savings Banks.
The second subject worthy of men
ton in the postoffice department Is the
real necessity and entirely practical
bility OF establishing postal savings
banks. The Successful party at the
last e'ection declared in favor of postal
savings banks, and, although that
proposition finds opponents in many
parts of the country. l am convinced
that the people desire such banks, and
am sure that when the banks are rur-
nished they will be productive of the
utmost good. The postal savings banks
are not constituted for the purpose
of creating competition with other
banks. The rate Of interest upon de-
posits to which they would be limited
would be SO small as to prevent their
drawing deposits away from ether
banks.
l believe them to be necessary in or
der to offer q proper inducement to
people of small communities who do
not have banking facilities, and to
whom such q system. would offer an
opportunity for the accumulation of
capital They will furnish a satisfac-
tory substitute. based on sound prin-
ciples and actual successful trial. In
nearly all the countries or the world.
for the system of government guaran-
ty of deposits now being adopted in
several western states. which with def
erence To those who advocate il.
seems to me to have in IL the seeds
of decentralization to conservative
barking and certain financial disaster
The question of how the money de-
posted in postal savings banks shall
he invested Is not free from difficulty.
brit l believe that n satisfactory pro-
vision for this purpose was inserted
as an amendment to the bill consid-
cred by the senate at its last session.
II has been proposed To delay the con-
sideration of legislation establishing
postal savings banks until after the
report of the monetary commission.
This report is likely to be delayed,
and properly so. because of the neces-
sity for careful elaboration and close
investigation. I do not see why the
one should be tied up with the other.
II Is understood that the monetary
commission has looked into the sys-
tens of banking which now prevail
abroad and have found that by con-
troll there exercised In respect to re-
serves and the rates of exchange by
some central authority complications
are avoided. 1t is not apparent that
n system of postal savings banks would
in any way interfere with n change
to such system here. Certainly In
most of the countries in Europe where
control is Mus exercised by a central
authority. postal savings banks exist
and are not thought to be inconsistent
with proper financial and banking
system.
Ship Subsidy.
Following the course of my distin-
grished predecessor. earnestly rec
ommend to congress the consideration
and passage of n ship subsidy bill,
looking to the establishment OF lines
between our Atlantic seaboard and the
eastern coast of South America. and
as well as lines from the west coast
Il,
China. Japan and the Philippines. The
profits on foreign mails are perhaps
sufficient measure of the expenditures
which might first be tentatively applied
tn this method of inducing American
capital tn undertake the establishment
of American lines of steamships IN
those directions in which we now feel
II most important that we should have
means of transportation controlled In
the interest of expansion OF our trade
A bill of this character has once passed
the house and more than once passed
the senate. and l hope that at this
session bill framed on the same lines
and with the same purposes may be-
come "A law.
Interior Department.
The successful party in the last cleo
ton. in its national platform declared
In favor of the admission as separate
states of New Mexico and Arizona, and
l recommend that legislation appropri-
ate tn this end be adopted. urge.
however. that care be exercised In the
preparation of the Legislation affecting
each territory to secure elaboration In
the selection of persons as members of
the convention to draft constitution
for the incoming state. and l earnestly
advise that such constitution. after
adoption BY the convention. shall he
submitted tn the people of the terri
tory for their approval at an election.
In which the sole issue shall be the
merits of the proposed constitution.
and il the constitution. is defeated by
popular vote. means shall be provided
in the enabling act for new conyen-
tion and the drafting Of a new con-
stitution. / thirk IL vital that the issue
as To the merits of the constitution
should not he mixed up with the Sc
lection of state officers and that M
election OF state officers should be had
until after the constitution had been
fully approved and finally settled upon
Alaska.
With respect to the territory Of
| recommend legislation which
shall provide for the appointment by
the president Of IA governor. and also
of an executive council. the members
Of which shall. during their terms OF
office. reside in the territory and which
shall have legislative powers sufficient
to enable II to give to the territory
1a