The Washington times., 1913-12-03
FAVORS EXTENSION
IN HEALTH SERVICE
Secretary McAdoo Advocates
Consolidation of Revenue
Cutter and Life Guard Serv-
ices.

Extension of the Public Health Ser.
vice; construction of four new revenue
cutters and consolidation of the revenue
cutter service and the life-saving ser
vice into one organization known as the
coast guard are recommended by Sec
getafy oil the Treasury McAdoo in his
snnual statement Of finances, given td
Congress today -
Substitution of an effective ice patrol
by international agreement for the
present patrol maintained by the United
States of the Grand Banks and the
construction of three light draft river
steamers to aid in salvage work on in
terror rivers and lakes, are also recon-
mended. and a strong plea is made for
an increase Of the Treasury contingent
fund from $4,000 to s5O,oOa.
Have a Little Money.
The United States is not in the
''churchmouse" class, despite the fact
that obligations amounting to S2,9lG,
aoisl5.66 were outstanding on June 81
last. AT the same time the Government
had the neat little sum of sl.SS7, u.s.
15S.19 in hand.
These figures We're reported TO Con-
gress by Secretary McAdoo in his an
nual statement on finances With them
he submitted estimates of appropria
tons for 1915 totaIing s74I.O11, ,6sO.O2. an
increase of trifie over sl2.OOO,0O0 over
the appropriations made for 1914
Secretary McAdoo's report partook of
the nature of brief in advocacy of
currency reform. He mentioned "a Ger
tain propaganda of pessimism which.
whether designedly or not produced
condition nf extreme and
tension early in the spring in justify
ing his $500, 900 emergency currency
announcement He referred to the
financial uneasiness in the same terms
in explaining his crop moving deposits
this fall.
1T is characteristic of our imperfect
and unsatisfactory banking system" he
said. that the very prosperity of the
country becomes at times a menace, be
cause of the apprehended inability of
the banks to meet the seasonal demand
for the large amounts of money re-
Quired TO mover a bounteous harvest.
Are Very. Important
THE psychological and practical
value OF these incidents cannot be over
estimated. The demonstrate clearly
that any improve ement in our financial
system which will permanently establish
confidence will in itself be an immense
SAM oNb H tndl SNS-
lem assures the opportunity to secure
al all times the necessary funds and
credits to meet the expanding and legiti,
mate needs of the commerce and in
dustry of the country. il will be an
achievement of enduring benefit
These incidents also show conclus-
lively the enormous value of an altru-
istjc Government agency in the finan-
cial affairs of the country So long
as the Government has the power TO
intervene in a beneficent and unselfish
way, the danger of panics and of unjust
practices will be largely. if not wholly, |
destroyed
This is one of the chief objects
sought in the proposed reformation and
reorganization of our banking and cur
rency system. The country is to be
congratulated upon the early prospect of
sound legislation on this vitally I'M
portant subject
Should Congress enact the funda-
mentals of the pending measure, il is
believed that permanent protection will
be provided against recurring CONNER
cial crises and that adequate facilities
will be created for that legitimate and
sound expansion of credits so vital TO
the prosperity of our great and grow
ing country"