Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1913-12-04

McAdoo'S first report to Congress, de-
livered to-day, is largely confined to a
review of the achievements Of the
Treasury Department in matters that
have been of nation wide interest; to
recommendations for increased appro-
priations for bureaus under his au-
thority and for legislation, which, he
declares necessary to the better con-
duct of the government and the pro-
lection of the people.
The Secretary discusses at some
length the subject of currency legisla-
ton reviewing the activities in his
department related to it. He speaks
of an unrest in business circles fol-
lowing the beginning of the special
session of Congress in April, refers to
q propaganda of pessimism which
designedly or not, produced condi-
ton of extreme nervousness and ten
SION and points to his announcement
in June that the Treasury was ready
to issue $500,o00,00o Of emergency
currency under the Aldrich- Vreeland
Act to prevent restriction of credits
and to ease any situation.
Mr.. McAdoo details the Treasurys
offer to loan to banks of the country
money to move the fall crops. The
sum of s46,500,000 out of $50000,o0o
estimated to be needed, was appor-
toned among the states.
1T was essential" says the Secretary,
that the action of the department
should be non partisan and non -politi-
cal; the crops of Republicans, Demo-
Gratis and Progressives, and all other
classes of people had to be moved,
and the earnest effort of the Depart
ment was to have the benefits of this
action diffused as widely and impair
TALLY as possible"
After praising the psychological
value of these incidents. the report
continues:
They demonstrate clearly that any
improvement in our financial system
which will permanently establish con-
fidence will in itself be an immense
gain, and if that improved financial
system assures the opportunity to Sc
cure at all times the necessary funds
and credits to meet the expanding and
legitimate needs of the commerce
and industry of the country, it will be
an achievement of enduring benefits.
These incidents also show conciu-
sively the enormous value of an altru-
istic governmental agency in the A.
naneial affairs of the country. So long
as the government has the power to
intervene in a beneficient and unset
fish way. the danger of panics and of
wholly, destroyed. This is one of the
to 1t
reformation and reorganization of our
banking and currency system. The
people of the country are to be con-
graduated upon the early prospect CT
sound legislation on this vitality impcr-
tant subject. Should the Congress
enact the fundamentals of the pending
measure 1t is believed that perma
nent protection will be provided
against recurring commercial crises
and that adequate facilities will be
created for that legitimate sound ex-
pansion of credits so vital to the pros
perity of our great and growing eoun-
try" .ssA.re
OF the new Tariff Act Secretary
McAdoo says 1t has not been in force
a sufficient length of time to make
POoSl1iC Gil SSliiAidtC "a ANS
ultimate revenue producing powers.
He asks Congress to impose a nomi-
nal tax of one per cent. proof gallon
on all alcohol withdrawn for dena-
turation-and legislation requiring ev-
cry dealer in leaf tobacco TO make an
inventory of stock January of each
year and make a report of his trans
actions quarterly or monthly, and that
every dealer be required to give bond.
The present oleomargarine law is
declared to be unsatisfactory and the
government is said to lose more taxes
from Illicit practices in oleomargarine
than through moonshine stills. The
difference in the tax on colored and
uncolored "oleo" is held responsible
for the loss and Congress is asked to
impose fiat nominal tax without any
difference for color with provision for
individual stamped or original pack
ages of certain sizes adequately mark
ed and safeguarded. The law govern
ing the sale of adulterated butter is
declared to have brought about unfor-
tunate conditions through the diff
Guilty of its just enforcement.
Among his principal recommended
tons to Congress the Secretary placed
the following:
Enlargement of the Public Health
Service and a closer cooperation with
State authorities to prevent and
stamp out epidemics of disease.
Building of four revenue cutters,
for need of which the Secretary
points out, the service is seriously
crippled.
Consolidation of the Revenue Cut
ter and Life-Saving Services into one
organization to be known as the
Coast Guard. Such a consolidation,
tho Secretary says, would increase
the efficiency OF each service with
the idea that the new coast guard
should become a first naval reserve
In time of war, The increase in cost
would be about 100000 In that con-
nection the Secretary also recon-
mends passage of legislation for the
retirement OF life-savers on pension,
and declares that unless some such
measure is made law, the efficiency Of
the service will he impaired and 1t
will become increasingly difficult to
obtain good men. He gives point to
his argument by showing that the
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