Evening journal., 1913-12-03
UNCLE SANS
POCKET BOOK
IS BULGINC
lad More Than a Billion
Tucked Away in June, Max
ing Elm Real FinanCier
TREASURER TALKS OF
CURRENCY REFORM
ey The unIted Press.

BY The United Press.
WASHINGTON. Dec. 3-Uncle Sam
has fairly healthy purse. True, he
owed s2,916, ,2O4, ,913.66 on June 30,
out at the same time he had the neat
title sum OF S1,S87 ,11S,153 ia hand,
which makes him fairly we'll and
puts him high IN the king row Of
world financial powers.
These figures we're reported to Con-
gress today by Secretary of the
Treasury McAdoo in his annual state
nent on finances. With them he sub
nitted estimates OF appropriations
'or 1915 totalling S741,O11,660.02, an
Increase of a little over $12,000,000
over the appropriations made for
l914.
The secretary recommends enlarge
nent OF the Public Health Service.
construction of four new revenue
,utters, consolidation Of the revenue
utter service and the life saving SER
rice into a single organization to be
known as the coast guard" sub
stitution of an effective ice atrol by
International agreement for the pres
ant patrol maintained by the United
States off the Grand Banks, three
light draft river steamers to be con-
structed for the revenue cutter SER
vice to aid in salvage work on inter-
ior rivers and lakes and increase of
The treasury contingent fund from
$4,000 to $4,000.
Secretary McAdoo's report partook
Of the nature of a brief In advocacy
Of currency reform. He mentioned
certain propaganda of pessimism
which, whether designedly or not,
produced a condition Of extreme ner-
fousness and tension" early in the
spring in justifying his $5O0,OO0, 600
emergency currency announcement.
de referred to the financial uneas-
mess in the same terms in explaining
ais crop moving deposits this fall.
1T is characteristic or our imper-
feet and unsatisfactory banking sys-
tenn" he said, that the very pros
perity of the country becomes at times
a menace, because of the apprehended
inability of the banks to meet the
seasonal demand for the large amount
Of money required to move a boun-
locus harvest
"The psychological and practical
value OF these incidents cannot be
oyerestimated. They demonstrate
siearly that any improvement in our
financial system which viii perma-
nently establish confidence will ia it.
self be an immense gain, and If that
improved financial system assures the
opportunity to secure at all times
he necessary funds and credits tC
meet the expanding and Legitimate
leeds of the commerce and industry o.
he country, It will be an achievement
of enduring benefit.
These incidents also show conclu
sively the enormous value of an al
iruisic government agency in the fin
ancial affairs of the country. SO Ions
as the government has the power tC
Intervene iD a benefcient and unset.
fish way. the danger of panics and Of
unjust practices will be largely. If ooi
wholly destroyed This is one of the
chief objects sought in the proposed
reformation and reorganization Of ouI
banking and currency system. The
county is to be congratulated upon
the early prospect Of sound legislation
On this vitality important subject
should congress enact the fundamen.
tails of the pending measure, It is be.
lieved that permasent protection will
be provided against recurring CONNER.
cial crises and that adequate facilities
viii be created for that legitimate anc
sound expansion of credits so vital tC
The prosperity of our great and grow.
ing country"