Amarillo daily news. [volume] (Amarillo, Tex.) 19??-current, 1912-12-05
nYEAGH FAV0Rs
BANKING REFORMS
tContinued from Page One)


financial use and locking II up as a I
dead mass In the vaults OF the treas 4
ury Is proceeding as unscientflc /
and unreasoned as any other part Of
our unreasoned and unscien,lfic /
baking and currency system"
"A relief measure reforming the
banking and currency system. the
secretary declares. must include.
arfonl It's necessary features. pro-
HLons for neyer-fsiling reserves ard
never falling currency. and for the
perfect elasticity md flexlbti'ty %
both, for the permanent reorganlza-
dor and ORGANIZED cooperation Of
tho Banks, With ore now suffering
aud tnusing tile nation 10 su'fer by
Ie;.soA OF th s'r rnorganlxed state;
for a. central agency. TO represcnt
and act for the organized and coop
erative banks-this agency to be Sc
curely free from political OF trust
control. but with the government
having adequate and intimate super
vision OF It. for independent banking
unltsLso independent that no one
bank can be owned, controlled or
shared In In any degree, directly or
indirectly. by any other bank; for
the equality OF all banks. national
or state. both as TO standards and ns
10 funrtlons- that every require
ment tnade OF national bank must
DO com piled with equally by q state
bank, and every function or privilege
enjoyed by state bank shall be On
ioyed by n national bank, for the
utilization aud the fluidlty OF bank
assets for the scientific development
OF exchanges domestic and for
eign. for foreign banking az an adj
junct of our foreign commerce; and
for taking the Treasury Department
OF, OF the banking business
Discussing customs reforms. Sec
Rotary .MacVeagh says that Wide
spread exposures by the present ad-
minlstratlon Of frauds have resulted
In an annual saving TO the govern
ment OF more than sl0.000.000
distinctly an underestimate"
To Abow that incoming travellers
are now more honestly declaring
their baggage as the result OF re
forms, the Secretary points out tho'
at NewsYork alone the revenue from
travollcts' imports have Increased
from a'yoarly average OF SS90,GS'
for the. previous administration tt,
about t2.1o0.OOO In 1912 Thu
class Of frauds. he says. had beer
not only conpicous but almost ic
Tended
Regarding the bonding inyestiga
ton OF the Boarl q General Ap
praisors at New York by commits
sion appointed By President Taft
Secretary MacVcag1 says the Boar
has drIftcd from lts original insti
tuition IA board OF custom reyic'
within the Treasdfy Department 4
. qussilndepondenre aB n court DOT
side OF It. The Department. he add.
needs a board Of general appraiser
within the dapar'mon. TO supery.s
end unity me lppralslng work o
w country
MIR. MacVeHgh urges that all col
tectors aid surveyors OF customs
naval officers. appraisers and IA
sistant appraisers. collectors OF inter
nal revenue and all like officials q
tho Treasury Department, whose M
polntmont requires confirmation b
the Senate be transferred TO the clal
slfed civil service Complete gp,
ration OF the treasury service, cspe,
ally tho classified part OF It troi
practical politics, Is recommends
by the Secretary.
The abolition OF all assay officer
An the country ercep; the one at Ne
York IA urged by Mr. NacNeagh A