El Paso herald. (El Paso, Tex.) 1901-1931, 1911-12-18

channels, and save them for regular
trade and commerce. To meet the case
II is necessary to have Al elastic cur
rency, available reserves and every nee
essary provision and power both TO per-
nit and to check the expansion OF
loans. III, .7-,
have to provide with distinctness ana
completeness ample banking faculties
for orr foreign commerce commerce.
that with the proper governmental en-
couragement will be worldwide ana
T. is Indispensable that the new law
shall denv with great precision 10 any
bank included within It's proEIs4olls'
whether national or state, the rlsht 70
own stock in any other lnQepeHo zen
hank The law should not fall 70 con-
clusfveIy forbid such ownership 1heIe
is no immediate danger TO pc appi
hended from such holdings put no" -
the time to protect for the future me
independence and individuality OF the
hanks The prohibition should be so eN-
plicit that its spirit as well as It's letlef
could be enforced
IT is gratifying to know that in fur-
therance of the views eXpr esSea IN ny
annual report of 1910 as to the adVlsa-
bility of accepting certified cnechs'
congress promptly passed the act ap-
proved March 2, 1911, making IL Ia"
ful to receive certified checks IN pay
rnnnr or duties on I'M POI - anu 1890
nal taxes, the two largest sources o.
revenue. which heretofore were re-
uuired. under the law, TO be palo N
certain kinds Of actual money.
This law has proved to be a great
convenience to the public in its trans
actions with government officials even.
though il is limited TO the two sources
of receipt I would now recoIlIneLu
that certified checks be made accept
able in payment of any and all dues 20
the government under regulations pre-
scrfbed by the department.
Certificates and Bullion.
The amount Of gold bullion held IN
the reserve fund against outstanding
cold certificates at the close Of busi-
ness November %, 1911 was 49,
772.s57.
Receipts and disbursements.
Receipts into the general fund, in
Guiding various trust fund receipts,
but excluding postal revenues Tor 1871
follow:
Orjinarv ....-...... 2Ss,O12. 22A20
CORPORATION tax $500. 33,5l6,9t6.5s
S822. SIS, 2OO7o
sales Of public lands. 5,ISl' 6SS.SS
Miscellaneous ....-..... oS'oI4'4oo-ve
Total .. StOl,St - t4.sg
disbursements from the general
OUTLAWS, including various trust Iun9
disbursements but excluding postal
and Panama canal disbursements,
For civil establishment. s1Ts. SSs.5s9.04
For military establish
mont " 16O,135, 1888
For naval esta bIishment 1881 644.3s
For indian service --..- z9'SSS's ~ IS :
For pensions ..---.....s 45ti SoUsot9.v4
For interest on pubic
10 ID
Total ........... :. oo4. IS 3, ~ t.e'
Excess of receipts, S4l,5ss'S i-lV'
Fiscal Year, 1912.
The ordinary receipts OF the govern
ment for the current fiscal year are
estimated upon the basis OF existing
laws, as follows $4,000 o.,o
From customs --.--..-.--- szSo'VvO'uvO
From internal revenue or .,,.,
binary ..--..- $500 oo0 ga
From F rom miscellaneous sources 55.o0o.ooo
receipts -.-...- .$6bo,UUU'UVv
The disbursements for the same
period are estimated as follows:
For the civil establishment S1lz,O 00gOg
For the war department. 169'gVNggV
For the navy department lz2,VVg'yVe
For the indian service. li,0e9'0 ~
For pensions 404,vvu'OvV
For interest on the public 1900,
debt --'i t'fVN'
Total estimated disburse-
rnents ACKNOWLEDGEMENTS 1855, 7l5.0 600
or an excess in ordinary receipts,
sI0,225, 600.
Civil Service Retirement.
The possible extent of efficiency and
economy that is attainable by any OF
the departments is rigidly restricted
by the lack Of a retirement allowance
and system. III a government so gen
erous and intelligent as ours, the alb
sence of a civil retirement system is
sinEularly inappropriate and ineXpltc-
able Indeed, the adoption OF a pro-
vision retiring members Of the civil
service has become so usual and so
matter of course that America IS the
only important civilized government
which does not recognize this as
national duty both to the employees
and TO the government and people 1
appeal. therefore, to congress again,
as have done each year, in behalf Of
such law. Every consideration OF
humanity, economy and efficiency, that
is eonceivably related 10 the question
calls for action at this session.
New Buildings.
have the honor to heartily indOrse
the appeal which viii come to con-
gress for a suitable building for the