The Alaska citizen., 1916-10-30
etllciency ol production

NJ \ .N - NN, NlN'N DN ! N efficiency of production
 The President is wholly committed tp rlgu- for maintaining and drv"l ap.ns n" ..ans por,at.on lacilitic, at Inc disposal ol the nations business His views on the need for an Ameri can merchant marine such as will as sure American manufactures i!r,.t.- of conveying their products tu foreign markets without depending on other nations, arc now well known. and the shipping bill which embodies his ideas is now before congress- The public k not so we'll informed. how. eyer. as to the Presidents attitude respecting the conservation and de velopmcnt of our domestic transpor. tation facilities. namely. the rail roads With view to obtaining the real facts about the difficulties con fronting our great railroad com panies, the President has brought about the creation of d Congressional Commission 10 make thoroughgoing inquiry into all phases of railroad problems The President does not ignore the fact that in many instanc- es the State Railroad Commissions and the Federal Interstate Commerce Commission have worked at cross purposes. thereby seriously retarding the development of the roads as na- tonal utilities. The Presidents mind is open on the subject of Federal incorporation and he will embody in his constructive business policy the conclusions which may seem justified by the investigation of the Congress sional Commission
 WELCOMES "DolLAR EXCHANGE"
 There are many other phases of the railroad problem, however, re- garding which the President desires the public to be better informed so that the government may be enabled more fully to do it's duty by the roads. These relate to credits and methods of expansion, as well as to schemes of regulation; and, most important of all, to the spirit in which the pub lie is to approach all questions re- lating to the welfare of the common carriers.
 Another phase of the Presidents plans centers around his desire to provide means of assuring to the country the most efficient exertion of its great accumulated financial strength at the end of the war.
 The United States has more gold than either group of the European belligerents and her financial position is incomparably stronger than that of any European nation with which we are shortly to engage in competition. But the President faces the fact that this new and happy condition has been created by the war and that plans must now be evolved for eN- banding our new credit structure if the nations industries are to reap the full benefits of our great financial strength when peace comes. The President believes that one of the measures which should be taken toward this end is the establishment of joint agencies of the Federal re- serve banks in Europe as soon as sufficiently stable conditions are re stored there He also favors the es. tablishment of such agencies in South America It is his policy further to encourage American banking institu- tions to establish foreign branches in South America, where American trade is endeavoring to establish new foot holds, and in general to adopt the most liberal attitude permissible while observing the spirit Of the Federal Reserve Act. The develop ment of dollar exchange" he con- templates with real enthusiasm.
 THE GOVERNMENT MUST HELP
 BUSINESS
 The Presidents policy may be sum- marized in the statement that he de sires the government to assume the role of the vigorous and robust friend of American business men in their endeavors to cope with competitors from other nations. This general statement covers not only the meas ures which have been discussed in this article and the holding of f. nancial conferences between the United States and countries with which our trade may be expanded, but other concrete ideas for legisla- tive enactments and executive acts which will promot the same purpose.
 The President believes that the measures which his administration has taken for conserving and ener-