NOTES OF THE DAY.

Dominion, Volume 3, Issue 893, 12 August 1910, Page 4

NOTES OF THE DAY.

In discussing the improved feeling between Canada and the United states, The World's Work touches 011 the great question of a union of Anglo-daxori peoples. Sir lUcuard Cautwiiiget, tiio Dominion Minister for Trade and Commerce, making a speech at a banquet at Ottawa, given in recognition of his 40 years' continuous distinguished service as a member of 'Parliament, said that the most significant fact in his long experience of public life was a steady growth of a rapprochement between the English-speaking peoples on the American Continent and Great Britain. He firmly believed in the coming alliance of the 160,000,000 people comprising the Anglo-Saxon race—an alliance for peace and the disarmament of the world. Sm Richard depicted Canada as a loyal daughter of the Mother . Country and • a near neighbour of 1 the American people, acting as an intermediary between Great Britain and the United States in the formation of this great alliance. What was regarded as virtually a reply to this speech was made by President Taft at Pittsburg, when he expressed his great personal satisfaction with the Tariff Agreement recently arrived at with Canada. The President also hoped for closer relations, but they were of a commercial nature. These little exchanges arc always interesting to note. They may mean nothing at all or thoy may be- straws indicating the drift of the current of public' opinion. In the present case they may be taken to indicate that the old strained relations between Canada and the United States are passing away and that there ' isj a growing goodwill arising out of recent negotiations and treaties.

The protest of the Australian banks against the terms of the Commonwealth State note issue is not at all surprising. The decision of tiie Commonwealth Government •to redeem notes only at Melbourne is one of the worst features of the proposed currency 'legislation, and the associated banks rightly point out that this would have a tendency to .concentrate gold in Melbourne. The position, no doubt, is highly pleasing to the Victorian capital,, but is unsatisfactory and unfair to_ the other States. For instance, if a merchant in Perth, holding Federal Government notes, goes to his banker and says: "I want to purchase a draft on London for • £100," and offers the Federal notes in payment, the banker may be obliged to say: "No; notes are not gold; if I take these notes I shall 'have to send them to Melbourne to get them cashed. Each of those notes is, practically a Melbourne cheque. I snail have to charge you exchange on Melbourne." The merchant ■ faced with this difficulty may be-seriously .embarrassed on occasions if compelled to sell his goods for notes. In Queensland the Government notes arc payable in gold in small places, and the banks are under no compulsion to pay in notes on demand as is proposed in the Federal Bill. If a metal reserve is to be maintained in the six States then a larger reserve than 25 per cent, will be necessary. The reserve proposed is £'l;' 750,000, but a sum nearer £3,000,000 will be required. It is probable that the merits of the protest of the banks will be recognised by the Fisher Government. -

I .If it brings lionie to the public the discreditable character of the Timber ■ Commission episode, last Tuesday afternoon's debate in tho House will not have been a complete waste of time._ On the plea of urgency, the public wore deluded into believing that the Commission was necessary. It was set up in a hurry, it spent months in making investigations, and, after a good deal of wrangling, it compiled a report which, so .far as it affects the question of tho timber industry, is not worth the paper it is printed upon, although it cost the country a huge sum of money. And what has the Government said or done to justify its action in setting up this farcical Commission 1 Absolutely nothing. It apparently never intended to do anything. All it wished to do was to still the clamour of a few, importunate people at the cost of the taxpayers. Mr. Taylor, we are glad to see, spoke out plainly upon the impropriety of appointing members of the House as paid members of the Commission. Of tho twelve Commissioners, nine were M.P.'s, and of these eight were Government supporters. Amongst these were Messrs. Arnold, Ell, Field, Hanan, and Stall-worthy, who probably are as competent to investigate the timber industry as to investigate the nebular hypothesis. Mn.' Taylor's opinion will be generally endorsed: that "no member had any right to take payment for work of this character." The inquiry could have been carricd out quite as well by a Parliamentary Committee, and at a fraction of the cost incurred.