Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1910-02-13

only Sa.SS4.O5I.i2. with no COLLECTION
as vet }from The corporation tax Fol
the corresponding period last yedr ti'
eNpen iiturts exceeded the recfipie ~
over $40, 090, 600 rlie showing inft.
Gates that under the present cprt"rn.
wipe out and that 90 meet our nor
maj Expenditures We ahall hive amrlf
rtYei ne.
N therefore venture to repeat the
remark have had occasion TO make
before. tliaf tht present customs las
w the best customs lnw ever passed and
lit is most significant IN This that Il
Indicates IN tho part uf tho republican
partS the adoption Of q policy 90
change from an Increase IN duties t.
|A reduction of them aud 10 effect an
|incrcasa Of revenues al the same time.
"The great difficulty ia hearing ana
discussing the present thrift hiil was
.thp absence of satisfactory ANA cred-
.iblc evidence on either side 81 the is
SUES 81 tn low or nigh tariffs The Inn
porter On the one hand, and the man
htActnrsr Oh the other. were present
% give their fallihie Judgment affected
ify their ISL %pecuninry interests az 70
the facts under Investigation. Men
Who were struggling 10 lind the truth
were grritly pefpleNod hy tho conflict
ing testimony.
'The tariff lin authorizes the presi-
dent e. rXpcHd $4,000 In employing
persons "a assist him IN administering
the maximum ana minimum clause and
to assist him and other officers OF the
government in the administration Of
the tariff lAM. have construed this
20 mean that J may use tho hourd
under this power not only
to look into the foreign tariffs, hut
also to cNnminc the question win re-
spcct to each item in our tariff bill.
what the cost OF production Of tho
merchandise Us ana what ite cost IS
abroad This IL not 81 easy task for
impartial experts and Il requires u
force l expect 10 apply 20 con-
gtesa this YEAR for the sum of $3.50
UnO TO organize d force through which
this investigation may 90 on ana the
be recorded for the uae OF the
cSecutive and congress when thcy de-
sire to avail themselves Of the record.
In this way any subsequent revision
may De- carried on with the ana Of data
secured officially ana without regard
to It's argiiWe ntfFe effect upon the
question OF raising or lowering duties.
THE republican national platform
COMBINED the following.
we favor the cstahiishment Of a.
postal savings bank system FOR the
convenience OF the people ana the en-
rourapemcnt OF their thrift.
IA bin has been introduced to es-
4 postal savings bank, The
Rfnat difficulty IN the hill seems TO
have been to secure a. proper provi-
for the management ana invest
In.nt OF tht money deposited The
is the announcement 10 thrift
~ those whose fears OF the solNtncy Of
ANY depository except i government
depository tnmpts them away from
"a government promise to re-
seems to be specially effective in
people 70 ave ana deposit
heir savings The machinery of the
bOstafficc department with ltA 10000
1ostatflcps und $4,000 money order
1fficeA offers an economic ana far
machinery w pincee remote
from banks ana among people who
banks. who, hut Tor tic oppor-
unity. would not save hut spend. The
Interest offered. 2 per cent, pre-
scnte such postal savings banks from
interfering with regular savings banks
rate Of Interest is always IN cx-l
Of 2 per cent.
"ln the present stage Of the senate
bin There have been inserted amend
drawn apparently for the pur
pose OF hasihp money, deposited us
awnings IN government postuffices, dis
through the LEGALITY where
"a posted nj the banks. state and na-
ionnl, ana so deposited lie "a make II
impossible for tho trustees Of the fund
appropriated under The law tn with
lraW munev for Investment in any
form.
"a regard auch an amendment asI
iltly to defeat rho la~ First. be-
muse 1t takes AWAY a feature which
iuRht to be present in the law so as
nrs lbs constitutionnlitN. II tho law
provided TINT the trustees TO 30 ape
under tho law for the funds
hus deposited could NETT tiie linun-
iitl evigcncies OF the government by
purchase or redemption OF The gov
srnment two per cent and other
the measure would certainly he
the federal power because the
ioeial hanks would then clearly he an
of national government IA
money We now have
about Si0o. noe, 600 OF % per con bonds
with respect so which wr owe a duty
to thr owners "a see that those bonds
may Id lakrn pnre of Without reduce
lion below par value thereof, because
lNcv Nerr forced upOn national banks
ID this low rate in order thut the
banks might haNe q basis ut cireula-I
ton. This implied obligation of thol
government. the postal savings hauk
funds would ensilA enable II to moct
"~sccondls. if the funds nre 60 be
arbitrarily deposited tn an banks
and national. without %nutippai
supervision over the state banks aud
70 nanlu Ner. To- cnmc, il ia difficult TO
how the government could meet its
nnneatinns to its postal saViues hank
lpuosltora. loCpusa with rNtlN nnk