President Taft, in his long tour of the country, which has taken him through the Northwest, the Pacific coast, and the Southwest, reached the Mississippi river last week. He was accompanied on the trip down the river to New Orleans, where he attended the fourth annual convention of the Lakes-to-the-Gulf Deep Water Association, by thirty-six governors, seventy-six United States senators, more than one hundred and fifty congressmen, and ten foreign ministers. At a banquet to the governors aboard ship, he invited them to come to the White House in December when the civic federation is to meet to consider the question of securing uniformity was state laws. This question of uniformity was touched upon also in the late convention at Louisville, Ky., of the National Tax Association, when it suggested a conference in the future of all state governors to consider the matter.

A decision of the court of appeals gives New York city a margin of $100,000,000 in its borrowing capacity. This condition results from releasing the subway and dock bonds, which are self-supporting, from the computations of the dept limit. The amendment allowing this to be done and so enabling the city to undertake further subway work, has been opposed by some who have believed that it opened the way to various extravagances, and by others who were in sympathy with the efforts of the Interborough Rapid Transit Company to keep the city's hands tied in the matter of building subways until the city should yield to the traction combination the monopoly it has until recently demanded in the construction of new routes.

November 6, 1909

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