The Commoner.
3
MAY 29, 1908
created by 'the people) The game of hide and
seek must stop, and the nation and the state,
each in its respective sphere, must exercise its
power to the full, first, to make a private mon
opoly impossible, and second, to so regulate
quasi public corporations as to make them sub
serve the purpose for which they were created.
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"NEWS THAT'S FIT TO PRINT"
The New York Times is one of the dollar
mark newspapers that hesitate at nothing in
their desperate effort to prevent Mr. Bryan's
nomination and election. In saying they hesi
tate at nothing we speak advisedly. For ex
ample, on Sunday, on its first page, the Times
ran this dispatch:
MONTANA FOR JOHNSON
Convention Instructs for Him, Indorsing
Bryan's Policies
(Special to the New York Times.)
Butte, Mont., May 16. The democratic
state convention tonight enthusiastically in
dorsed Governor Johnson of Minnesota for
the presidential nomination. Delegates were
instructed for him. At the same time the
convention adopted resolutions of allegience
to the principles advocated by W. J. Bryan.
The Times boasts that it prints "all tho
news that's fit to print."
Is this news fit to print?
Is it fit to print when the fact Is that the
Montana state convention has not even been
held; won't be held till June 10?
We say nothing about the strong probabili
ties that Montana will instruct for Bryan. Let
that go.
But is it honorable newspaper practice to
assert a lie for the truth, presumably for the
effect that lie might have on democratic action
in Pennsylvania, Michigan, Alabama and else
where? ' Do the Times and the World and the Sun,
and the other rabiu newspaper enemies of Mr.
Bryan in New York, really believe they can pur
sue these tactics indefinitely and still retain
whatever influence they may once have had with
their readers? Omaha- World-Herald.
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THE PEACE WITH WALL STREET
The following editorial is taken from tho
Springfield (Mass.) Republican:
"President Roosevelt's name is being used
quite freely in support of the present uplift in
tho stock market. It was common understand
ing some days ago that a general treaty of peace
between Wall Street and the president had been
reached, as a result of which Wall Street would
support Taft for the nomination. Its reward for
so doing was to be a halt in the administra
tion's campaign -against predatory wealth. Its
punishment for n'6t doing so would be the nom
ination of the president himself.
"Now we are being treated to rumors of
special individual conventions or treaties of
peace and immunity between tho White House
and the supposedly more culpable of the preda
tory corporations. One Is said to cover Harri
man and his Pacific roads immunity from pros
ecution from the one side, and support of Taft
from the other; and it is to be noted that one
of the large New York bankers associated with
the Harriman interests has declared in favor of
Taft, and a like declaration from Harriman him
self may soon be forthcoming. The stock mar
ket at any rate seems to be expressing substan
tial belief in the existence of such a treaty.
"Then there is a story of another special
treaty entered into between the White House
and the New Haven road on similar terms;
someone who had heard the story asked a direc
tor of the ,New Haven company about it, and his
reply is said to have been: 'Yes, we are now for
Taft like h 1;' which may be interpreted as
you please, but1 which recalls David B. Hill's
remark during the campaign of 1896: 'I am
still a democrat very still.'
"These stories may not soften the prevail
ing temper at the White House, but the public
has come to know Mr. Roosevelt as a fighter
who is not so particular as he might be respect
ing the means employed to attain a determined
end; and, if the stories find large popular cred
ence, he has himself chiefly to blame. More
over, have we not evidence in the Brownsville
truce on the republican side of the senate that
extraordinary means are to be employed to put
the party into the field for the coming campaign
"with a united front? But the chosen candidate
of the president is being meantime placed in a
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GUARANTEED DEPOSIT PLAN DEMONSTRATED
Oklahoma has tiro guaranteed deposit plan and tho following Associated Press
dispatch tells of its operation in the first bank failure slnco that law went into effect.
Show this dispatch to your republican neighbor.
Guthrie, Old., May 21. Within one hour from the time H. II. Smock, Oklahoma
banking commissioner, had taken charge of tho International Bank of Coalgato ho had
authority to pay tho depositors In full, though tho bank's cash and available funds In
other banks fell $22,000 short of the total amount of deposits. Tho commissioner was
enabled to do this under the operation of tho new banking law, and this is tho first timo
it has been called into uso. Commissioner Smock took charge of tho bank for alleged
gross violations of tho banking laws and notified tho banking board at onco. Govornor
Haskell, president of tho banking board, immediately authorized tho payment of de
positors in full and it began. The amount of deposits is $38,000. Tho bank had $9,000
'cash on hand and $7,000 deposited in other banks. When tho cash was exhausted tho
commissioner drew checks upon tho stato guarantee fund. Under tho operation of
tho guaranty banking law in Oklahoma a tariff of ono cent is levied upon tho avorago
annual deposits of the banks and the money thus raised is used In payment in full of
all depositors of an insolvent stato bank, after tho funds of tho bank havo been exhausted.
0
hard position for so heavy a man to fill. How
is ho likely to succeed in riding tho two horses
of Roosevelt radicalism and 'predatory' Wall
Street?"
Tho New York correspondent, who writes
over the namo "Holland," has something inter
esting to say of republican politics in a letter
printed in the Philadelphia Press. Following
are extracts from that letter:
"What Jacob Schiff ventured to say when
accepting a nomination for vice president of
the Taft organization of New York City simply
echoes much that has been heard in the finan
cial district in which Mr. Schiff is of Influence
unsurpassed by that of any other financier. But
not until Mr. SchifE spoko has any one prom
inently identified with the financial district said
for publication that this district looks upon the
proposed nomination of Secretary Taft for presi
dent, not with displeasure, possibly not witltf
enthusiastic approval, but with entire compla
cency and a sense that sound business interests
would find in the secretary, if ho were elected
president, as staunch a friend, as profound a be
liever in vested rights, as any "republican who
could be named.
"It has been observed that in Mr. Morgan's
office there has been now, for some weeks, a
sense of gratification that the pro-convention
canvass seemB to point to the nomination of
Secretary Taft." Then follows this comment,
under the significant sub-title, "Financial Sup
port Assured:"
"It is accurate to report that in tho finan
cial district the nomination of Secretary Taft
is regarded as already fairly well Indicated, and
that the present feeling of the stronger men of
finance who are associated with the republican
party is so favorable that they are willing to
give not only their personal but also their
financial support.
"Now that the corporations are prohibited
by law from making any contributions to politi
cal campaign funds, the entire energy of those
who are to collect these funds must be concen
trated on individuals. In 1896, when there was
grave fear that the election would result in the
triumph of the free silver propaganda, almost
all of the national banks of this city were con
vinced that to protect their own assets and re
sources it was necessary to secure the success
of the party which stood for the single gold
standard.
"Therefore some of the larger contribu
tions which were made to tho republican cam
paign fund in 1896 were tho subscriptions of
national banks. No national bank and no cor
poration existing by reason of a state charter
can this year contribute one cent lawfully. But
individual bankers of Wall Street are free to
make such individual contributions as seem to
them good, and there is reason to believe that
in case Bryan be nominated by the democracy
and Taft by the republicans, these bankers will
not turn away the solicitors for campaign funds,
but may in fact equal the subscriptions which
they have been accustomed to make in presi
dential campaigns."
Commenting upon Holland's letter the
Omaha World-Herald says:
"Comment ifl unnecessary. It is hardly
even necessary to say that tbsse exceedingly
frank admissions wr wt inArowied for western
consumption. Their ono purpose was to as
semble tho conservative and reactionary vote of
tho far east under tho Taft banner; to make
the anti-Roosevelt republicans of tho Atlantic
seaboard understand that high financo is back
of Taft, and that ho Is therefore worthy tho
support of every man to whom a dividend on
trust stock is of moro consequence than tho a
dustrial and political liberty of his country.
"Mr. Taft is regarded by Wall Street as
'a profound believer in Wall Street's 'vested
rights;' he hjg tho Wall Street moral and politi
cal support'aihi will havo its financial support
to the same liberal, not to say extravagant ex
tent, that Mark Hanna secured it for McKInley,
and that Cortelyou, Bliss, Roosovolt and T-rrl-man
secured it for Roosevelt hipsolf. ThwUi
tho substance of tho admissions made by this
republican correspondent of this republican
newspaper, and there is abundant evidence to
bear him out."
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MR. BRYAN AND THE TARIFF ''
Tho Now York Evening Post carries at .the
head of its editorial columns this interesting'
paragraph, taken from the initial issue of tho
Post, printed November 16, 1801:
"Tho design of this paper is to diffuse '
among tho people correct Information on all in
teresting subjects, to inculcate just principles in
religion, morals, and politics; and to cultivato
a tasto for sound literature."
In a recent issue of tho Post the editor of
that publication proceeded to contradict the
claim set forth In tho above by printing an
editorial paragraph and immediately under tho
quotation above, too containing the following
sentence:
"Bryan has, in fact, taken only a perfunc
tory interest in tariff revision; it bores him,
and is, besides, too difficult to master; It is
much easier to exclaim about tho money power
and corporations."
If the design of the Post Is to "diffuse
among the people correct information," it would
do well to secure tho services of those who are
able to carry out a design. More incorrect in
formation could not, by design or otherwise, bo
crowded Into a sentence of tho same length than
Is crowded Into the one in which the Post en
deavors to "diffuse among the people correct in
formation" concerning Mr. Bryan's interest in
tariff revision.
If tho design of tho New York Evening Post
Is really to "diffuse among the people correct
information" its owners should hasten to cor
rect the prevailing condition in the Post editorial
rooms. Some one in authority there is playing
fast and loose with that "design."
RATDjTCATION
Some seem to fear that the Denver con
vention will be a ratification meeting; but if
tho convention ratifies what the voters havo
done it will be easier for tho voters to ratify
what tho convention does.
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"FETTERED" AND HANDCUFFED
Which is the moro democratic, to be "fet
tered" by instructions adopted by tho voters, or
hand-cuffed to a boss?
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