The Clarksburg telegram. [volume] (Clarksburg, W. Va.) 1874-1926, 1912-12-05
RADIA'L
Continued from page one.)

CONTINUED from page one.)
sums of actual money out OF the or
binary financial use end locking it
MP us dead mass in the vaults of
the treasury s proceeding as I'M
scientific and unreasoned as any 9TH
or part OF our unreasoaed and I'M
scientific banking and currency sys-
tenn"
| A relief measure reforming the
banking and currency system, the
secretary declares. must include,
among its necessary features, pro-
VISIONS for never-faillng reserves
and never-failing currency. and for
the perfect elasticity and fiexibility
of both; for the permanent organ!za-
ton and organized cooperation OF
the banks. which are now suffering
land causing the nation to suffer by
reason of their unorganized state;
for a central agency, TO represent
and act for the organ zed and CO.
Operative banks-this agency to be
Isecurely free from pol teal or trust
control, but with the government
having adequate and intimate su-
pervision of II: for Independent
banking units-so independent that
no one bank can be owned, con-
trolled 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 tho
standards and to functicns-so that
every requirement made OF ma
tional bank must be complied with
equally by state bank, and every
function or privilege enjoyed by a
state bank shall be enjoyed by ma
Itional bank: for the utilization and
the fluidity of bank assets: for the
scientific development Of exchanges
domestic and foreign; for fore gn
banking as an adjunct of our for
eign commerce: and for taking the
treasury department out OF the
banking business"
Discussing customs reform, Sec
rotary Macveagh says that wide.
spread exposures by the present ad-
ADMINISTRATION of frauds have resulted
in an annual saving 10 the govern.
ment of more than $4,000. 900.
distinctly an underestimate"
To show that incoming travellers
are now more honestly declaring
their baggage as the result Of re-
forms, the secretary points out that
at New York alone the revenues
from travellers imports have in
creased from yearly average Of
$S90,6SS for the previous admins.
tration to about s2,lOO.OOO in 1912.
This class Of frauds, he says, had
been not only conspicuous, but al
most defended.
Regarding the pending investiga-
ton OF the board of general APP
pratsers at New York by commits
sion appointed by President Taft,
Secretary Macveagh says the boai~.
has drifted from its original insti-
futon as a board of customs review
within the treasury department to a
quasi independence as a court out
side of it. The department, he
adds. needs board of general APP
praisers within the department to
supervise and unity the appraising
work OF the country.
Mr.. Macveagh urges that all col
lectors and surveyors of customs,
naval officers, appraisers and as
s.stant appraisers, collectors OF In
ternal revenue ana all like officials
OF the treasury department whose
J appointment requires confirmation
by the Senate be transferred to the
classified civil service. Complete
separation of the treasury service.
especially the classified part of It
from practical politics. is recon-
; mended by the secretary.
Ii The abolition of all assay Offices