The Washington times., 1911-12-18
MACyEAGH URGES
ADOPTION or Plan
|. DEVISED BY ALDR|CH
Secretary, In Report, Also
Favors Retirement Sys-
TEN for Clerks.
WANTS EXPEDITION
IN BUILDING WORK
Says Tariff Legislation Has Caus-
ed His Department Much
Labor.

Labor.
Immediate passage of currency
measure based on the investigations Of
the Aldrich Monetary Commission Is
urged in the annual report Of
the Secretary Of the Treasury, Frank
lin Macveagh, submitted to Congress
today.
Declaring that experts and business
men are now agreed on, q solution Of
difficulties, and characterixing
the Investigations Of the Monetary Com
mission as thorough and entirely nom
the Secretary recounts at
length reasons for the passage Of the
measure at once.
Panics, rigid currency, periodical
money stringencies, unequal interest
rates. and all the disabilities Of the
banking system, Mr.. Macveagh saya,
result from the lack Of . protective
and cooperative system Of the organ
lied banks.
Of Interest Here.
The Secretary also dwells at length
on a variety Of topics Of great interest
to Washingtonians as well as the coun-
try in general, including:
A resume Of efficiency and economy
progress in the department.
An urgent appeal for a retirement al
lowance system
A suggestion that large groups of en-
ployes be transferred to the classified
service.
a recommendation for an auditors
A request for expedition in the con-
struction of the new Bureau OF EnRray-
Ing and Printing building, ana a sweep
Ing rehabilitation of the customs ser
vice.
In urging the passage OF currency
measure, the Secretary says: "Organi-
zation means the establishment Of CEN
trail institutions representative Of the
be central bank. 1t must be q purely
central agency for the banks. 1t was
natural at first to think Of 4 central
bank; but 1t was early discovered that
our system. The idea Of q national re-
serve association has therefore grown
up. Just as the idea of clearing house
1t Is Indispensable. according to Mr..
MacVeagh. that the new law Shall
deny with great precision" the right Of
any bank to own stock in any other
bank. to prevent the concentration Of
the report stated, being inevitable under
our present banking system.
~Gratuitous" Panic.
Speaking Of the causes which gave i'm
pulse to the appointment Of the None
tary commission, Mr.. Macveagh re-
| ferred to the gratuitous panic Of 1901"
In poiLting out the results or the
economy campaign the Secretary states
| mat 2t7 statutory positions Rave been
eliminated IN the office Of the Treasury
ho inn IN trv, - III
sent in for 1si2.
| The coLtributory system is suggested
sy MI MacveaGh In connection with
| his plea for 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 allowence and
geiierous and intelligent as ours, the alb
sence Ct a. civil retirement system is
sihguiary Inappropriate and inexplics,-
| bic. seif-interest alone ought to secure
this enlightened provision for the civil
EMPLOYEES not to speak Of the .numan
interest which in this regard is now
almost universally felt and adorted.
fering extremely for want of a retire
ment law: and all improvements of the
pubic service have to constantly meet
the disbursements of this condition
while much improvement Is by this con-
otuon dis couraged even from q begin
ming. Every consideration of humanity.
economy, and efficiency. that 10 con-
eefvably related tn the question, calls
for action at this session.
| Defines Plan.
1.-THE retirement system which I con-
slider most in the interest of the clerxs
Themselves Is the contributory system;
and that would cost the Government no
money whatever-if that were thought
to be desirable.
| ''Some system Of retiring allowance In
and efficiency that would be glad to
see any system adopted which could be
put into effect Immediately, for any sys-
tenn could be changed after experience
| showed its defects"
The work Of STRENGTHENING out the
Customs Service" II Is stated. has not
been confined to New York, but has
spread throughout the country. The
report outlines plans for a further Or
Declaring the old methods of tariff
legislation have thrown on the Treasury
"interminable and perpetual amount of
his department is deeply interested
In the passage Of a new tariff law mot
confined to the adoption of specific rates
OF duty. instead Of ad valorem rates
1.-THE contractor has agreed to con-
struct the new Bureau of Engraving
and Printing within seventeen months.
the report says. S'But in order to justify
this comparatively short period-a period
quite new in Government experience
It was necessary to revise some Of the
Governments methods of construction.
Matters of great scientific interest II
contained in the appended repert Of this
Public Health and Marine Hospital
i Service.
Results of Investigations relsting to
the hookworm. infantile paralysis, ty-
phoid fever, analysis of water in vari.
Gus localities, and the Standardization
atoms are requested for the investiga.
ton of pellagra,