The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1910-08-07
BANKING SYSTEM
IS IMPROVING
Under the Administration of
franklin MacVeagh
BIG PAY FOR ADVICE
Large Items af Savina. u1,a4 Sl.... A..
Large items of Saving That Show the
Real Economy of Paying High
Price for Expert
Advice


office Of secretary of the treasury, the
system under which Uncle Sans bank
ing and currency is conducted has been
steadily improving, and today is consid-
cred by bankers and business men, who
have dealings with the treasury depart
ment, to be as near perfect as 1t has
ever been In its history. Every branch
of the department has. been organized
so that 1t constitutes spoke in. the
governments financial wheel now turn
ing so smoothly that those coming in
contact with it 1aud its organizer and
say that 1t could not travel with great
err perfection.
Secretary Macveagh, like other officials
who start out to reorganize, found op-
ponents to his plans at different times,
but he has steadily worked to systema-
tie his department. and has thus far
been successful, much to the delight of
bankers and business men, who have
long wished the elimination OF unneces-
sary departmental red tape. The sec
retarys tariff views collided with those
of Speaker Cannon and Senator Aldrich
last summer He also had a sharp diff
erence with Senator Aldrich in the mai
ter of amending the law affecting the
rate of interest on government bonds.
Senator Aldrich is known to be stub
born when any notion he has formulate
ed relating to currency legislation, is
crossed. The senator feels a certain
pride In being considered the currency
expert in the upper house of congress-
1t was this pride that was hurt when
Secretary MacVeagh determidedly oppos-
ed his IDEAS and suggested his own plan.
AS the result of the action of the secre-
tary showing that he, too, has convic-
lions of his own, there has been a dead
lock on the question ever since.
Charles D. Norton, then assistant Sec
rotary of treasury, and now secretary
to President Taft was Mr.. MacVeagh's
right hand man In the systematic eff
fort that has been made to improve
the workings of the department. Econ
omies being sought, the first step taken
was to secure the advice of Chicago.
firm that makes a speciality Of suggest
ing economies to large executive offices.
Although this company asked big fee
for its services the estimate made by it
did not brighten Mr. MacVeagh nor his
assistant. 1t is said the concern was
paid something like $4,000 for its advice
and suggestions for a period covering
several months. Just whether the pay
ment of this sum of money was an IN
vestment or not may be determined by
glancing at the following changes that
have been made chiefly on the recon-
mendations of the ''economizers."
The numbering. separating, and sealing
of United States notes and gold and
silver certificates In one operation in
stead of several, thereby saving 100000
annually.
Improved methods in handling, business
in the office of the auditor for the post
office department causing a saving of
SOTO
Change in the size of internal revenue
stamps and improved methods of ship
ping, saving $4,000.
Discontinuance of handweighing Of
gold and silver coins and the adoption
of automatic feeders on coin presses, and
other establishments at the mints. saving
s1S3, 900.
Changes in connection with the trans
portation of fractional coins, saving
SIPS, 900.
Installation of improved machinery and
introduction of new methods in bureau
of engraving and printing the saving be-
ing $2O9,000.
Elimination Of unnecessary positions
and reductions in appropriations for the
CuTTtIt HSCdl year., bdNlll6 @opo,VVp'
Improved methods in administration of
the revenue cutter service, life saving
service and the abandonment of old and
unnecessary quarantine stations, $30S, 900
being saved in this direction.
Sending cancelled notes by registered
mail instead of by express companies eff
fecting an annual saving Of 100000.
In spite of a movement said to be
on n the reotpn tfnp Of QeC-
rotary Macveagh, he is still going on
with the improvement Of his department
Almost weekly he is called on to deny
stories of his intended resignation emana-
ting from some of those who dislike his
economic methods. He doesn't suit the
class OF people who think 1t best to
leave we'll enough alone" but his good
work thus far has been satisfactory to
President Taft. hence those in a posi-
ton to know say that the mild-man-
nered cabinet officer from Chicago will
not leave his present office until he has
attained even greater services for the
treasury department and the banking and
currency system of the country In gen.
eral.
Tn carrying out what is considered to
be his pet. plan in the Identification of
the national capital by the building of
park along the Potomac river to equal
that at Manila in the PHILIPPINES. Pres
ident Taft has practically KILLED two
birds with one stone" He has seen the
partial rejuvenation of another of his
hobbies, that of horseback riding in
and about Washington.
Equestrian sports for some years, that
is ever since the automobile came In
vogue have been practically dead In
the capital With Virginia and Mary
land adjoining the District Of Columbia,
horsemen in this country have always
had a place to satisfy their pleasures
riding behind the hounds, playing polo
or taking a dash across the country
The horse. until the machine sounded
his death kneli. was seen In large num-
bers In many sections of the city's sub
urbs and parks. They have almost dis
appeared. Nobody seemed to care to
play polo. follow the hounds or ever
mount an animal for an afternoons
ride.
Since the President and his rough rid
ing predecessor Colonel Roosevelt be-
gan taking such an interest In horseman-
ship the former interesting himself in
the upbuilding and identifying of Poto-
mac park, several horse shows have
been held numerous games of polo play
ed while almost daily. scores of gentle
men and lady riders can be seen on the
bride paths In the parks or taking the
Jumps in this beautiful river sward in
Potomac park, which Gen. Nelson A.
Miles. U. s. A., predicts will In time
eclipse all other parks In the world for
its beauty and scenery.
$1.7O weekend ticket In