Newspapers / The Asheville Times (Asheville, … / Dec. 18, 1911, edition 1 / Page 9
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uttli lilliiuEii llOil '- ,;-.': J .. - . ,V ,r : - MacVeagh Appeals for Reform of Currency System, and Scientific Tariff. , : Washington, iee. is.-MAppeais ior the Immediate reform of the coun-' try's banking and currency system ' and scientific tarllT legislation, based nnon entirely new reason the prac' tlcal experiences, of the customs Ser vice stand out prominently hV the annual report of Secretary of the Treasury MacVeagh, submitted to con gress today. This statement of the nation's finances bristles with urgent suggestions for corrective financial laws, enacted In the light, ., of. the "lamp of experience." v The secretary of the treasury, fore sees, according to the estimate ofex perts, a surplus In, the. treasury at the end of the fiscal year 1913 of about .$29,000,000, exclusive of expenditures on the Panama canal. Including the estimated canal disbursements, how ever, the treasury will face a deficit of approximately $13,000,000. ' The total estimates of expenditures for next year, exclusive of the Panama canoj and the postal service, payable from postal receipts available for the gen eral fund are $687,000,000. The es timates for the' construction, of h Panama canal during the next yenr are $47,268,760, making a grand total' of estimated expenditures of $88S,- ' 1H4.S68. With all'the preliminaries for re vising the financial system accom plished, Mr. MacVeagh declares there Is no reason to postpone action, y ... t The tentative plan of the notional monetary commission, outlined by Its chairman, former, Senator. Aldrleh,. he; says satisfies In Its essentials the larg er part of the expert opinion of the nation and Is supported by the busi ness men. The secretary pledges the administration to'do Its part In keep ing miS 1IIIUI1VHU "UO WIKMIJ ...- partisan, believing that the result should bs the product of both par ties. Safeguard Against "Money Talk." Jn the contemplated reorganisation of the financial structure, Mr. Mac Veagh emphasises the absolute need of prohibiting all banks, national and state, from holding stock In other banks, a a safeguard against any noaalblo formation of a "much-feared money "trust" In the future. He urges equality of national and state batiks In doing trust company and avlng bank business; . ! J . " .'"We must provide, and without reservation," he declares, "for a per fect equality of privilege and oppor tunity between' national and state banks. State banks must have every advantage national banks have; and national banks must have every ad vantage state banks have. And this equality, can not be attained unless national and state banks are on the samefootlng as to trust company banking and as to savings bank func tions. ' ' ' "And It is Indispensable that the new law shall deny with great pre cision to any bank included within ii. ornvuinna. whether national or state, the right to own stock in any otW independent .bank. The law should not fall to conclusively forbid such ownership. There is no imme ,ut danrer to be apprehended from such holdings; but now Is the time to protect for the future the independ ence and individuality of the banks; ,.a n forestall In their case the gen- . fat tendency to the formation of un , due' combinations and trusts. The prohibition should be so explicit that Its spirit as well as Its letter eould be enforced. W musi prevent iiv ually the concentration of the bank ing power in the hands of the few i ..nnrxntratlon which under our pres ent system Is Inevitable by the mere operation of financial evoiuuon. fh nw banking system, the sec ...- nf the treasury avers, must ,,..vi.i with distinctness and com pleteness ample banking facilities for the foreign commerce ot me uniieo u,.t... which, with proper goem ment encouragement he believes will it. wnrlri.wide and world-variea. To a congress which is expected to . .soil v.r have a developed for elgn commerce without a developed i,.,ai,n i.anklns system. Our pres ent system grew up in a period of isolation. " I'm finM-trk Duties. oT a congress which Is expected to remodel some of the tariff schedules. Mr MnrV'.cn urges from me sianu point of experience the establishment of specific duties, inweaa " '" har the nature ot the ar title involved makes that, possible II. inva! Th. r,F.rtwa of adopting ad va Inrem duties adds to the ease and nulcknesa with which legislation may i- nrannred: but that Is It only help fill ouallty and that lonely quality h.a its. naloable itrswbaoka. Ad va lorem duties leadWvtly to the great maturity of sH the frauds upon the revenues with which In treasury de imrtmi.nt has to contend; and they a nil thev csn to drive honest Importers , nf hualnees. They add exceeding y to the expense and responsibility of administration ana are re-pn"" for whatever de ligation exists In the Importln and customs business. Theoretically ad valorem duties may have an ap. ....I ki in nractlce they are a delu ion and a snare." 'naeiitlflo ncMon." ; The principle of "scientific revl slon" of the tariff Mr. MacVeagh con tlnues, should be applied not only t'!( the iietloll of duties, but also to, classification of articles s nil, the Inn- guage of th,luw so mm mere ma be no doubt to the Intent of con gress. When the scientific method and spirit of legislating on this sub ject Is reduced to practice, covering nil feature of the tariff law, BfTectlns Its ready Interpretation, the secretary declares, sn expensive element or us ndtnlntalrntlon and a larse emount of litigation will be automatically elim inated. Alwt. he aU, many venations of honest Importers and s vast mam of unde --valuations bnd frauds by dishonest Importers will disappear, l.u ed,i. There run be no n,iictlon," be con rhi.1, a on this aul lt-ct, "that the need of reiideitug tie s'iM.ioHtratl"n of Hie ui,,ii, In, H,.- of the ci.uutry s'm jt,... ,t ai'xl K-Huiii, lW"-aJUs HANI) BAGS AND ?UESES ;. No doubt the a, largest - and . most varied assortment, com-.-prising all the ..new leathers. s j Also Velvet, Suecre and. Satin, - including full' showing of- esh. Bags. : 'y ---.-.5 .V ' A BEAUTIFUL SCAEP : for your mother, sister wife op ' sweetheart, will 'be highly 'ap- i precialed and here you can find ; just what you are looking for. These come in pretty Xmas boxes. - '-, ' - ' ;,':';,. ': ') y" x ' .' "'' . . J ; -i. EXQUISITE SILK WAISTS : ' n ' , ;y::X -y. .Pewltching Btyle, in tre.neV ; tailored effects of Messaline Silk, Taffeta and others of lace ,fand Chiffon. Come and , see them.: :' I . FOR THE BABY ..A pretty little cap for a baby 13 very acceptable and our va riety is unusually wide. 'Also Baby.Blankets and Baby Coats and Knit Goods. : ; . SANTA CLAUS Presents Everything in Christ- ' mas Gifts for. Everybody. ' v A HANDSOME BEIT ' A splendid stock ' that in- , eludes novelties in belts is here to select'from at prices rang ing frcjn 25c up. "., . ... , RIBBONS OF QUALITY All colors, weaves and widths. The ribbon display is as beautiful as a rainbow. , , REGAL FURS ' ' ' The gift of gifts A fur piece or set, or ta coat. Ours arc the reliable goods and are .nof, priced extravagantly, s We?Are Prepared to Meet Your 1 Christmas Wants. We are prepared t6..meet your Cliristmas "Vfants. uThe, foremost thought iu every one's mind, is Christmas. Less than six shopping days off. TAt this season ofHIie year we try to -remember our friends a3 well as those who are nearest and dearest to us. It is our aim fo'fill your every want for Xmas. Every department has many suggestive' thingi'i ' A; visit to Qur store should be a great benefil; in. annwering that orfo question NaW' what shall I give mother, father,1 sfster, A brother, sweet heart, relative er friend t , r ' A , i. Men s s Wear Section ' - Gifts for Mm -...i GIFTS FOR MEN 1 ' ; , Man wants but little but that little must be good. "We can help you solve your gift prob . lem for yoiTr man friend." A full showing of furnishings to suit the better dressers. Bring ' . your gift list to us. and see how well you can do here. Xmas shopping in made easy here. . .. .i A FEW SUGGESTIONS Cravats, Shirts, Scarfs, Gloves, Hosiery, Suspenders, Collars, Suit Cases, Bags, Tru Shoes, Headgear, Bath Jlobes, Scarf Pins, Cuff Buttons, Tie Clasps, Clothing, Umbrellas a great many more too numerous to mention. . , ... Trunks, and BOYS' SUITS A nice warm Suit or Over coat for tW boy will come in mighty good these cold days. The newest style, material and shades to select from. Come in and see what you can get here for your boy. : FOR THE CHILDREN A warm coat or a pretty hat are useful gifts and we have a full line for you to choose from. Polar Bear Coats for the little ones, knit Scarfs, Cap .and Muff to match and Furs. Come and see them. , ART GOODS Full showing , of Mexican Drawn Work and Batternburg, very pretty pieces that will' make appreciated gifts, see this full line. You may find just what you want and at the price you want to pay. ; ; . , EVENING WRAPS If you want to give her an evening wrap or coat, we can" help you fill that want with the . season's newest models' and colors. Come jn and , try on some of these pretty things.,,, SHOES AS GIFTS You can selwt from a full stock of winter 'footwear and feel you are giving, . the Ves,t .money can purchase. Shoes to fit all feet. Buy the children good wearing school shoes. ' ' GIVE GLOVES , ; The useful appreciated gift, friendship and sentiment go "hand in hand,". as it ; were, with .constant remembrance of the giver. Put up in dainty Christmas boxes. . , , mmmm If IHWSI-tSlIB"' I ASHEVILLE, N. C. I ""'t; "''' s-"rr'!?Tri,M Ml .4- tlonal saving of useless expenditure is an additional reason 'of great weight for the" enlightened method Of tariff legislation to which the best senti ment of the country has been looking forward for more than a quarter of century,' ' Mr. viacVeaeh recommends the ap pointment of , a commission, consisting of representatives of congress and the executive departments, to evolve . buda-et system for the government. This la ' necessitated he says, by the widely scattered and disintegrated re sponslbllltles governing estimates, ap propriations -and revenue. The abolition of all the assay omcea, except he one at New Tork, Is urged by the secretary. They cost the gov ernment I1S,00 yearly, and "the whole amount is thrown away," he savs. , Declaring that the work of rehabil itating the customs service has been vigorously prosecuted, the secretary savs that developments as to under valuations and frauds continue to t most Impressive and to make It evl dent that the end of the reform Is not yet In sight. He hopes to complete the reformation within a year. The customs districts arc being re organized and the secretary an nouncea that he will ask congress later to abolish a considerable num ber of useless and expensive customs offices. . Other recommendations of Mr, MacVeagh Include: A contributory system of civil service retirement transfer to the classified civil servtre of a number of customs officials from collector down: the Im position ot the nominal fee of f 1 for protests to the board of general ap oraiiers In customs assessments; ex tending the 1100 exemption from duty granted returning residents to include articles for household .use. Wouvenir1", rurlos or gifts; provision for at least two vcKaels a year for (he revenue lutter service; authority for the use of certilled cherks In the pavinent of all dues to the government; revision of the sinking fund law i sa to make It something more thsn practically a dead letter; laws adequately prohibit ing the Importation of opium; and a revision of the oleomearsarine statute. -T' V. S. Department or Agriculture; WI3ATHEH BUREAU f , WllJLlSl-MOORE. Uuefc 3QK 2QO ni . friiiiSi..i.lS.av.aii..llSfiSaal e. v V 3 ' rSC " ' -l,i-,-i a.s'.MaM. VVS. . r,m - ' O h) CD M-naa . r,Sial:,' .'-I .ii.u a aansii i i. . r ' sm TH at! MMf, IM WUl Om tnak i iiMMfa vHktktwIftA Pin ft.?- mm m THE WEATHER All the oars lined in the lirltlxh navy are made of white spruce grown In the Queen rharlotte Islands, off the coast of I'.rltlsh Columbia. A.IWSIlU-t. X Atlanta ... . . Anguata ... . K. nrly a million Slid ii'half d!fr.-r-ent liranda of clunrs are made. Tet at the outalde there ara but lit differ, ent kinds of tobacco grows., There Is sn unusitl dcinnml throuKhout Canada for sporting koiv.u, Ulnae Ul 1" Hotkey and fc4f club. Chiirlenton 41 Charlotte Jacksonville Key st . , Mobil ... . New Orleans New Tork ...'........ ( iklxboiua ... Italcluh Savannah ... 44 YVuiilitniiton . . Wilmington . . ; 40 i Noi'inal today: TeniperaSure 37 de greea; prei Ipltatlnn .14. Kore nxt until I p. m. Tues lay for ahetll and vicinity; Kair weather toiitrht an, I Tina, lav, wlih no ma tel lal ihfil,,', In tt-inpi ratora. I r .uiu CaiulH : i air tonlabt IS i! 30 39 . 32 it . 40 SO ' to , 38 48 ( . T4 ' 32 . 40 fi . 42 14 . 34 41 .31 4 . JK III 3d 44 SO and Tuesday; moderate northeasterly winds. Summary of ComtitlonH. An area of high barometric pres sure, attended by fair and moderately cool weather, "has advanced to the upper MlsatssiiHl valley and the upper lake region, with precipitation over eastern districts mainly limited to the lower lakes, the Immediate Atlantic coast region and Florida. The great est amount for the past 24 hours was ids. at Tampa, Fla. ' , The continued enstwaxd progress of the high presKure-area will he fevor all for fair and moderately cool weather In this vicinity tonight and Tueaday, with no material change In temperature. n T. I.INDLET, Observer. Weather llureau. A rw months aso the Chinese gov ernment be a an to erect a modern M.in.av tVtmt will vannira a total ex penseW 12.000,000. Construction of the bOlldlng and Installation of the printing plant have been Jntrusted to American architects. , It is proposed to dam the blue Nile and thus orovlde Irrigation for , 000 acres. ,' ' lMIMMMMMIMIHHMlr Why Not Make The MHMM3sMBMM3iJ3JBHsBsVM3a31 Gifts Useful Gifts Isn't It true Chat there are a thous and and One gifts given each " yearJ that are Just trifle gifts that are of no use to those receiving them? . Why waste this way why not In vest the gift giving money In lasting, satisfactory useful things? Ruch are the sort this big store of fers and suggest! to you and the se lection Is so unlimited that the choos ing is easy. Little things, big things, things for everybody. Prices most reasonsble and if the Christmas allowance be a trifle limited credit accommodations gladly granted that will enable you to do all that you may wish to. ; Reasons enough why ' you should make this store your buying headquarters? Ilooslcr KlUlieu Cablnota.. ..$STJi ntH'k Range.. .....$32.50 to B3S.M Shirt Waist Boxes. .. ... .$1 to $12.50 Odar Chests. . . v- . . .$11.50 to $22.60 Burton k Holt tclt Square iMl' . lafn Street. Same Thing. "W'jen I visited the (Viand Canyon of ! Vr"-V(II Ireallxed tlmltialg lli,anc , roan. Kver been there?" "Nm.t. Ton inn t th a.ime sen- n t U. :i 1'V U'olng lo a !- ' r i :i -t1 t c? nieel Ing." Kanii A'l'y Jo.ii i al. DON'T MICS'THE BIO I f I SAIJPLS SALE NOW 1 - going on at :: II , I' ! The Globe ii ; Sample Go.:; S3 S. lia Ct. DIEr'AMLAriD : .... ' - t M'H ' Five Reels of Pictures : ! , , I i 4 Where Everybody
The Asheville Times (Asheville, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Dec. 18, 1911, edition 1
9
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