New-York tribune., 1910-12-20
THE DAyINWA ASHINGTON]

lery, to the rank OF major general. But
| this does not mean that he fails to recog-
| nlze the responsibility Of the President tc
, curb such enthusiasm and to see that 1t Is
not productive Of a development dispro-
| portionate TO the needs or the finances OF
| the country. In the view Of the President
the responsibilities OF the members OF the
national legislature are not dissimiar to
his own. He looks to them to govern their
| course by reason and moderation, and not
| to give way to an enthusiasm which Is en-
| tfrely excusable, perhaps even commenda-
| bic in those whose profession is war.
| FINANCIAL LEGISLATION.-The condi-
| ton of the national treasury while far
from creating alarm is such as to render
obvious the Importance of legislation which
will make ii possible for the Secretary OF
! the Treasury to place on the market bonds
with which to reimburse the general fund
i for the constant drain resulting from the
construction of the Panama Canal. Sec
retary MacVeagh has clearly indicated in
the past his unwillingness to sell Panama
bonds on terms which would make them
competitors OF the outstanding Is and at
an advantage over the issue bearing that
low rate of interest. Mr. MacVeagh has
also urged legislation which would so ad-
just the tax on circulation secured by 2
per cents and by those bearing a higher
rate of interest as to obviate that deprecia-
ton of the former which would be inevita-
bic in the absence of such enactment In
his annual report for this year, however,
Mr.. MacVeagh proposes new method Of
obviating such discrimination and one
which seems more likely to commend itself
to Congress than that which he has passed
in the past. This is statutory provision
which would make the Panama bonds un-
available as security for circulation and
leave them useful only as investment Sc
curities. In this way competition with the
outstanding IS would be obviated, and, in
the estimation of the Secretary, proper
method of recouping the general fund for
the unusual expenditures for the canal
would be provided. The financial experts
of Congress appear to look favorably on
this suggestion, and it is highly probable the
Secretary's recommendation will be adopted
at this session.
THAT EIGHT HOUR LAW.-Once more
the enforcement of the eight-hour law has
proved an obstacle to proposed improve
ments in the federal service. This time 1t
is the revenue cutter service which suffers.
Congress at its last session authorized the
construction of two new cutters, at cost
of not to exceed $780, ,01U each, and accord
ingly plans have been prepared and BIDS
called for. The bids were to have been
opened to-day, but because OF the an
nouncelnent that the government wouio III
sist on the observance of the eisht-hour
law In the construction of these ships not
n single bid was received. Shipbuilders
who came to Washington in connection
with the bidding for naval vessels insisted
that observance Of the eight-hour la"
would completely demoralize their organ
izatious and even then intimated that It
would not be worth their while to bid for
the construction of the revenue cutters
This was regarded as perhaps a bluff, ana
bids have been anxiously looked for un-
ill to-day, when the advertised time ex-
rired without the receipt of a single DID
RELIEF FOR TRAVELLERS. - Here
after there is to be 20 per cent premium
offered to those ninble individuals whose
permits of their climbing INTO
upper berths. According to an announce
ment made by the Interstate Commerce
Commission to-day, the charge Tor upper
berths in Pullman Sleepers is hereafter 10
no only so per cent of that charged for
lower ones, and the Seneral OASIS "a CiiaiS
ing for the lower is to be approximately 81
for each period of twelve hours, except on
the fastest trains. According to the COM |
mission Pullman sleepers are run over all |
Ir1port ant lines of railroad except the New |
York. New Haven & Hartford, the Great |
Northern and the Chicago, milwaukee, ~ |
St Paul. The commission estimates that |
The reduction in rates will mean an annual |
saving to the travelling public OF not less |
t,,o,, q 5o,, o00 @. G. H. |