Devils Lake inter-ocean and Devils Lake free press. (Devils Lake, Ramsey County, N.D.) 1905-1909, 1909-03-05

Sby Il proper proceed ngs Instituted biz
the executive In the courts OF the ma
tional government
Monetary Laws IN ED Change 3. SssiS,
One of thes reforms to be carried out
hduring the incoming administratio ton Ii
POI change of our mone tary and banking
laws 80 as to secure greater elasticity
A the forms of crrrency ave ia ble for
trade and to prevent the iimitati Ions sof
law from operating siner ease the en-
barrassments OF I'd financial pan The
monetary commiss sion lately app inted
is giving full consid eratio to existing
lcondi tions and to all proposed Sreme-
lies and will doub tIess suggest one that
Will meet the require Of business
and OF public interest. We may hope
that the report will embed 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 W no would
have greater expansion Of currency
with little regard to provisions for its
immediate redemption or ultimate Sc
curity. There Is no subject Of ecohom-
ic discussion SO intricate and SO likely
10 evoke differing views and dogmatic
statements as this one. The commits
sion in studying the general influence
Of currency on business and Of busi-
ness on currency have wisely extend
ed their. Investigations in European
bankingaand 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. 2" 800 ),
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. It will not
be unw1se 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 banksa 1t will
substantially increase, the funds avail
able for investment as capital in use
full enterprises. It 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 be 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 matter
attention: The direct effect Of free
trade, between this country and the
Philippines will be marked upon our
sale of 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 Mr.. Root before and after his
noteworthy visit to that continent, and
I sincerely hope that congress may be
induced to see the wisdom Of tenta-
tive effort to- establish such lines by
the use of mail subsidies. n: Il, ,+.-s
The importance which the depart
ment Of agriculture and Of commerce
and labor may play in Kidding the
markets Of Europe Of prohibitions and
Determinations against the importa-
tion Of our products Is fully under
stood, and it is hoped that the use Of
the maximum and minimum feature
Of our tariff law to be soon passed will
be effective to remove many Of those
restrictions 4 ri =. szs*% Z
Sas; Lock Canal Plan Defended. s:s@
The Panama canal will have a most
important bearing upon the trade be-
tween the eastern and the far west
ern sections of our country and will
greatly increase the facilities for
transpo between 4 the. eastern
and the western seaboard and may
possibly revolutionize the Hansconti-
mental rates with respect to bulky mer-
chandise. Tt viii also have a most
beneficial effect to increase the trade
between the eastern seaboard Of the
United States and the western coast
i,Of South America and indeed with
some Of the Important ports OF the
east coast OF South America reached
by rail from the west coast The
work on the canal is making most sat
isfactory progress. The type of the
canal as q 4 lock canal was fixed BY
congress after q full conside ration or
the conflicting reports Of the majority
and minority OF the consulting board
{ and after the RECT lion Of the
war department and the executive
upon those reports. Recent suggestion
that something had occurred On the
fisthmtls to make the lock type Of the
canal less feasible than 1t was sup
posed to he when the reports were
\ made and the policy determined on
led to visit to- the isthmus Of q
board Of comps tent Engineers to exam
Inc the Gatun dam and locks which,
are the key of the lock type. The re-
port of that board shows that nothing
4 has occurred In the nature Of newly