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About The commoner. (Lincoln, Neb.) 1901-1923 | View Entire Issue (Dec. 7, 1906)
A- t; mi - t t , Jr - v1 - . i rt ft ;' i I , a 14 The Commoner The President's Message to Congress r , a (Continued from Page 9) America notably for fast mail lines should bo permitted to issue a speci to tho nhlfif Smith Amariran nnrf v fied Proportion of their capital in notes of a given kind, the issue to be taxed i to thfi nhlfif Smith AmoHnnn nnrf a" L. t Referring to "currency reform" the president says: "I especially call ' your attention to the second subject, the condition of our currency laws. The national bank act has ably served a great purpose in aiding the enor mous business development of the country; and within ten years there has been an increase in circulation per capita from $21.41 to $33.08. For several years evidence has been accumulating that additional legislation is needed. The recurrence of each crop season emphasizes the defects of the present laws. There must soon be a revision of them, because to leave them as they are means to incur liability of business disaster. Since your body adjourned there has been a' fluctuation in the interest on call money from two per cent to thirty per cent; and the fluctu- ' ation was even greater during the preceding six months. The secretary of the treasury had to step in and by wise action put a stop to the most vio lent period of oscillation. Even worse than such fluctuation is the advance n commercial rates and the uncer tainty felt in the sufficiency of credit ;even at high rates. All commercial in terests suffer during each crop period. Excessive rates for call money in New York attract money from the interior banks into the speculative Held; this depletes the fund that would" other wise be available for commercial uses, 'and the ' commercial borrowers are Jforced to pay abnormal rates; so that .each fall a tax, in the shape of-increased interest charges, is placed on 'the whole commerce of the country. V "The mere statement of these facts tshows that our present system- is Bi liously defective. There is need of a wuunge. unrortunately, however. ? i., M.mjr, uuvnjvei, ine law snouiu be amended ?n nn feJK i, K ss, they are complicated, are not easy of ucomnrehonnlnn nnri oyi t- .u-t. existing rights and interests. We must . 'also" rule out any plan -which would materially impair the value of the United States two per cent bonds now , Pledged to secure circulation, the issue Qf .which was made under conditions peculiarly creditable to the treasury. I do not press any especial plan. Va rious plans have recently been pro posed: by expert committees of bank ers Among .the plans which are pos sibly feasible and wliich certainly should receive your consideration is that repeatedly brought to your at tention, by the present secretary of the treasury, the essential features of which have been approved by many prominent bankers and business men. According to this plan national banks so high a rate as to drive the notes back when not wanted in legiti mate trade. This plan would not per mit the issue of currency to give banks additional profits, but to meet the emergency nresented bv tlmn of stringency. "I do not say that this is the right system. I only advance it to empha size my belief that there is need for the adoption of some system which shall bo automatic and open to all sound banks, so as to avoid all pos sibility of discrimination and favor itism. Such a plan would tend to pre vent the spasms of high money and speculation which now obtain in New York market; for at present there is too much .currency at certain seasons of the year, and its accumulation at New York tempts, bankers to lend it at lOW ratfiR fnr cnomilnfinn poses; -whereas -at other times when the crops are being moved there is VOLUME G, NUMBER 4? chapter to an essay on "international morality," and he adds: "I am prompt ed to say this .by the attitude of hos tility here and there aosumed toward the Japanese in this country. This hostility is sporadic and is limited to a very few places. Nevertheless, 1 ia "wwt discreditable to us as a peo ple, and it may be fraught with the gravest consequoacos to the nation. The friendship between ' the United States and Japan has been continu ous since the time, ever half a cen tury ago, when Commodore Perry by his expedition to Japan, first opened the islands to western civilization. Since then the growth of Japan has been literally astounding. There is not only nothing to parallel it, but nothing to approach it in the history of civilized mankind. Japan has a glorious and ancient past. Her civili zation is older than that of the na tions of northern Europe the nations from whom the people of the United States have chiefly sprung. But fifty years ago Japan's development was still that of the middle ages. During that fifty years the progress of the country in everv walk nf Hfo Vina ia a marvel to mankind, "and she now urgent need forftTBrh HaTZ " 1 " mankind, "and she now ssnt rsLj2 rwr question concerns business men gen- ary in industrial? S w1?'"' erally quite as much as bankers; es- ment and aoMPvLmt t e P" peclany is this true of stocknJn far- Sera and s&allo?s have showhem- as it guards the interests of New York ui umcago Danicers; and must be drawn from the standpoints of the farmer and the merchant no less than from the standnoints nf tho nitv hnrir. er and the country banker. ine law should be amended so as treated bv t.hf HOnrotnr-ir nf fVio. i,y no no uecus iunus ootained under the internal rflvenno lnwo tv.ot should be considerable increase in Dins or small denominations. Permis sion should be given banks if neces- aaiy uuuer settled restrictions, to re tire their circulation- in o lAnn amount than three millions .a month." The president pleads for "a lower tariff or else absolute free .trade in r-muppme products.-",. He asks that American citizenship be conferred on the people of .Porto Rico. He says that the administration of all of "our new possessions" should be directed under one executive department, "by preference the department of state or the department of war.". . . . The president devotes quite a long "LETTERS TO ft CHINESE OFFICIAL " BY V . William Jennings Bryan ' '.- . Being a Reply to "LETTERS FROM A CHINESE OFFICIAL ,A A superb vindication of Anglo-Saxon civilization and ideals writ ton -by Mr. Bryan in answer to the. famous "Utters From a chln.se Official an inspiring and eloquent confession of faith in the standards and purposes of our race; and more particularly those of the American People permeated yipt a wise and serene optimism., .There are pas sages that no man can read without'elevation of his moral nature " . ' ' ' ' f : SUBSTANTIALLY ROUND, POSTPAID 55 CENTS ABSSTHE COMMONER, Lincoln, Nebr.' possess the hiehest ldA.il of rfvif ism. Japanese artists of every kind see their products eagerly sought for inall lands. The industrial and com mercial development of Japan has been phenomenal; greater than that of any other country during the same period. At the same time the ad vance in science and philosophy is no less marked. The admirable manage ment of the Japanese Red Cross dur ing the late war, the efficiency and hu manity of the Japanese officials, nurses -and doctors, won the respect ful admiration of all acquainted with the facts. Through the Hed Cross the Japanese people sent oyer $100,000 to the sufferers of San Francisco, and the gift was accepted with gratitude by OUr nermlp. Tho nnnrfoov nf flirt Tnn tiese, nationally and 'individually, has try has there been such an increas ing number of visitors from this land as to Japan. In return, Japanese have come here in great numbers. They are, welcome, socially and intellectu ally, in 'all our colleges and institu tions of higher learning, in all our professional and social bodies. The Japanese have won in a single generation-the right to stand abreast of tho foremost and most enlightened people of Europe and America; they have won on their own merits and by their own exertions the right to treat ments a basis of full- and frank eaualltv. The nvfirwhoimino- p our people cherish a lively regard and Kw lul me-peupie or japan, and in almost every quarter of the union .the- stranger from Japan is treated ,UB " uuBerves; mat is; lie is treated aa the stranger from any part of clv- "UB.U ut ope is ana deserves to be treated. But here' and there a most unworthy feeling has manifested it self toward the Japanesethe feeling .that has been shown in nnnHi .-u out from the common schools in San 'Francisco, and in mutterings against them in one or two ,other places, be cause of their efficiency as workers. To shut them out from the nublin schools is a wicked absurditv. whmi I there are no first class colleges in the land, including tho university , , colleges of California, whlrt i and gladly welcome Japanese suLt not on which Japanese stud! ts 1 reflect credit. We have Ts VuVf earn from Japan as Japan g earn from us; and no nation i8 to teach unless it is also willinl learn Throughout Japan An 2n! are wejl treated, and any uSSZ the part of Americans at home to treat the Japanese with a liko conr tesy and conRidomHnn iB a., . .:UT a cohfession of inferiority in our ciS "Our nation fronts on the Pacific just as it fronts on the Atlantic. Wo hope to play a constantly growing part in the great ocean of the Orient We wish, as we ought to wish, for a great commercial development in our deal ings with Asia; and it is out of the question that we should permanently have" such development unless we free ly and gladly extend to other nations the same measure of justice and good treatment which we expect to receive in return. It is only a very small body of our citizens that act badly. Where the federal government has power it Will deal snmmnrllv wHVi nnv oimii Where the several states have nnwor I earnestly ask that thev alsn rinni wisely and nromnt.lv xvth mnh nnn. duct, or else "this smairbody of wrong doers ;rhay bring shame' upon the great mass of their innocent and right-think- PATPNTQ 8ECUR1CD OR FKE Freo roport as to Patentability, Illustrated Golds Jiook, undLIstof Inventions Wnntcd, sent frco. EVANS, WILKENS & CO.,Washington,D.0. COOOOOCOCXXXXXJOCKXKXKDOOOOO n . . . -. in ASSETS OF $1,327,179.94 is the Statement of THE OLD LINE BANKERS LIFE of Lincoln. "Salary and commission will bo paid to an old lino llfo man of oxporlonco. Address, O Box 1195. Lincoln, Nebraska." O CXXXXXXDCXXXXXXXKXXXXX)OOOO0 PLATFORM! M 11 I I !!! II-IIMI- I . TEXT BOOK w Containing the Declaration of Independence the Con stitution of the United States, and all the National Plat forms of all parties since the organization of our government. Bound in Paper, by mail, Post age prepaid, 25c per copy. AdHrcss'all Orders to 4 THE COMMONER, Lincoln, Nobr. Subscribers' Advertising Department TETTBR WA&ES :PRAMINP CHART born, Box 1320, Lincoln, N.eb. : ;; z : . . MUSIO TEACHERS, PJJBLIO AND PIU yate. Wo have a now system of inestl mable value to the nrofesslon. Address. A. S. S. M. No. 0, S8 Cheshire St., Cleveland, O. TT1 ARMS. JO Ohio. L. A BELL, CORTLAND, TTIOR $1.00 WE MAIL POSTPAID. A CALI-J- fornlaGrapo Vines, largest sorts, lnolud inj? 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