The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1913-12-03
SECRETARY NADO0 PRESENTS REPORT:
CURRENCY QUESTION IS CONSIDERED
Makes Review of Achievements of his Department-Says
it is Impossible to Estimate Revenue Producing Power
of New Tariff L~aw-Important recommendations
Washington, Dec. 3.-secretary Nc

Washington, Dec. 3.-Secretary Nc
BRED today. ia largely confined to a re-
view of the achievements Of the treas
ury department III matters that have
been of nationwide interest: t" rec
concentrations for increased appro-
priations for bureaus under his auth
GRITTY 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 de.
partment related to it. He speaks of
an unrest in business circles following
the beginning of the special session Of
i'll April, refers to q "propo-
ganda Of pessimism which desisnedly
or not. produced a condition of eX-
treme and tension and
points to his announcement in june
that the treasury was ready TO issue
$500. 900, 900 of emergency currency
under the .Aldrich-Nreeland act to pre-
vent restriction of credits and to ease
any situation.
Mont Partisan Action.
MIR. McAdoo details the t~reasury's
offer TO loan to banks of the country
money 10 IlloNt lHS du Sl'fS. II
sum of s46.500,00 out of $50.000.00
estimated to he needed. was appropri-
ated among the states.
lit was essential" says tho secre-
tary, chat the action of the depart
ment should be n%on-partisan and nom
political: the crops of republicans.
democrats and progressives. n all
other classes of people had to be NOV
ed. and the earnest effort of the de-
-. ,,,Dp ~ IaS-a $Ho hornfto rf
this action diffused as widely ans in,-
partially as possible"
After praising the PSYCHOLOGICAL val
lie Of these incidents, the report on
tinues:
They demonstrate clearly hat any
Improvement in our financial system
which will permanently establish con-
fdcnce will in itself he 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 m and
industry Of the country. it will be an
achievement OF enduring benefits.
These incidents also show conclu-
eively the enormous value Of an altru-
hs,ic governmental agency in the fin
:ancial affairs of the country. So long
Jas the government has the power to
InIeTSNeNe III d pele1ceut ana uISel-
fish way. the danger of panics and Of
unjust practices will be largely. if not
wholly. destroyed. This is n Of the
chief objects sought in the proposed
reformation and Reorganization of II
banking and currency system. The
people OF the country are to be con-
graduated upon the early prospect Of
sound legislation on this vitality impor-
tant subject. Should the congress en-
act the fundamentals Of the pending
measure 1t is believed that permanent
curing commercial 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 growing country" :"
Cannot Estimate Revenue.
OF The ne wtariff act Secretary Nc
Adoo says it has not been in force a
sufficient length Of time to make pos
sible an accurate estimate of it's ulti-
mate revenue-producing powers: He
asks congress to impose a nominal tax
Of one per cent proof gallon on all al
cohcl withdrawn for denaturation-
leaf tobacco to make an inventory Of
stock January 1 of each year and
make a report Of his transactions
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
~Rlncolored "oleo" is held responsible
Afor the loss and congress is asked to
IMPOSE a fiat nominal tax without any
difference for color with provision for
andividual stamped or original pack
cages of certain sizes adequately mark.
Ted and sa%feguarded. The law govern,
Hng the sale Of aulterated butter is de.
Sclared to have brought about unfortu,
mate conditions through the difficulty
Sof it's just enforcement.
Important Recommendations.
Among his principal recommends
lions to congress the secretary PLACED
the following:
Enlargement of the public health
service and a closer cooperation witt
state authorities to prevent and stamI
out epidemics Of disease.
Building of four evenue cutters, To-
need Of which the secretary points