Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1910-02-14

out reduction below the par value
thereof, because they were forced upon
national banks at this low ratio In order
that tho banks might have a basis of
circulation. This implied obligation OF
the government. the postal savings
bank funds would easily enable 1t to
meet.
Secondly. II the funds are to be arbi-
trarily deposited In all banks. state and
national. without national supervision
over the state banks and n panic were
TO come. 1t is difficult to see how tho
government could meet It's obligations
10 its postal savings banks depositors.
because With every bank 5uspcndIng
payment the funds of the postal savings
banks would be beyond the control OF
the government, and we should have Il
financial disaster greater than any
panic we have heretofore met A pro-
vision that when the money is not need
ed to invest IN government bonds or to
redeem tho same, II may be deposited
in national banks in the neighborhood
of the place of deposit, will avoid the
great danger of n panic and Will
strengthen a banking system which Is
an arm OF the federal government
! sincerely hope that before the meas
ure is hammered into It's final shape IL
may take ON these characteristics,
which shall give II a constitutional va
lldity and sound financial strength and
usefulness. Those who insist upon the
elimination of these two necessary
Characteristic features of the bill will
put the party In the position whore 1t
cannot hope to escape the charge that
It is not in good faith seeking the
passage of a postal savings bank act,
and Is not seeking, therefore. to COM
ply with the promise of the Republican
platform In that regard.
CONSERVATION OF RESOURCES.
I'VE indorse the movement inaugu-
rated by the administration for tho
conservation of natural resources. We
approve all measures to prevent the
waste of timber; we commend the
work now going on for the reclamation
OF arid lands. and rcnffirm the Re-
publican policy of the free distribution
OF the available areas OF the public
domain TO the landleSs settler No
obligation OF the future is more in
sistent and none will result in greater
blessings to posterity. In line with
this splendid undertaking Is the fur
ther duty, equally imperative. to en-
ter upon a systematic Improvement
upon a large and comprehensive plan.
just to all portions of the country, OF
the waterways, harbors and great
lakes. whose natural adaptability tU
the increasing traffic of the land is
one of the greatest gifts of benign
Providence"
In accordance with this plank. meas
ures for the conservation of the public
domain. for the reclasslfcation OF lands
according to their greatest utility and
the vesting OF power In the executive
to dispose of coal, phosphate. oil and
mineral lands, and of water-power sites
in such way as to prevent their
monopoly, and union of ownership In
syndicate or combination. have al
ready been introduced. and Will doubt
less, in form approved by Congress.
be made into law. The subject has
attracted tho widest interest. and Its
Importance Is becoming more and more
impressed upon the American people.
The river and harbor bill, which has
just been reported by the river and
harbor committee Of the house, mas
been framed with a view to complying
with the plank of the platform which
1 have above quoted.
PANIC OF 1907
Following the panic of 1907, the gov
ernment revenues fell off and the cx-
penditurcS continued leaving a deficit
for the year 1907, 1908 and 1909. There
was, however. no deficit in the whole
administration of Mr.. Roosevelt when
the expenses are compared with the
revenues. Indeed, 1t will be found that
under the operation OF the Dingley
bill, which covers most of his admin
istration and the first six months of
the present administration. the sur
plus, on the whole, was about S2o0,000.-
000 At the beginning of this admin
lstaration. however. 1t was perfectly
evident that, the expenses increasing
and revenues decreasing, there would
=. IL
Republican party, with Its majority in
Congress and the responsibility placed
upon 1t, has proposed to meet by re-
ducing expenditures and increasing
revenues.
l have already shown what the in
ereaSe in revenues has been. The
present administration. In estimates
for the year ending June 80, 1911. cut
them some forty-odd million dollars
below the actual appropriations OF the
year before. and now 1T is proposed
to appoint a joint commission, consist
ing of congressman. senators and mem
berS appointed by the executive. who
shall examine the organization of the
various departments and bureaus, and.
by the elimination OF duplication, the
construction of bureaus and the in
crease In efficiency of the Individual
civil servant, shall decrease the reg
ular permanent cost OF governmental
operation.
THE TRUSTS.
With respect to trusts, the Republi-
can party spoke as follows in its plat
form.
THE Republican party passed the
Sherman antitrust law over the Demo-
cratic opposition and enforced 1t after
Democratic dereliction. 1t has been a
wholesome instrument for good In the
hands of wise and fearless admins
tratlon. But experience has shown that
its effectiveness can be strengthened
and its real objects better attained by
such amendments as will give the fed
eral government greater supervision
CONTINUED on page ten.)