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The Commoner.
WILLIAM J. BRYAN, EDITOR AND PROPRIETOR
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VOL. 7, NO. 44
Lincoln, Nebraska, November 15, 1907
Whole Number 356
CONTENTS
MR. BRYAN'S POSITION
THE NEW YORK HERALD FAVORS LEGAL
TENDER NOTES
TOM JOHNSON TRIUMPHANT
PUSHING ASSET CURRENCY
PROTECTING DEPOSITORS
REPUBLICANS PLEASE EXPLAIN
A THANKSGIVING MESSAGE
IS MR. ROOSEVELT RETREATING?
WASHINGTON LETTER
COMMENT ON CURRENT TOPICS
HOME DEPARTMENT
'WHETHER COMMON OR NOT
NEWS OF THE WEEK
AND THE NEW YORK HERALD SAED IT!
The suggestion made by the New York
Herald, as given below, is in harmony with the
suggestion made in The Commoner last week.
Whatever expansion of currency that may bo
necessary ought to be supplied by the govern
ment and not by bank issue resting upon the
assets of the bank. Bank notes are redeemable
in greenbacks, and during the war, when gold
and silver were at a premium, bank notes were
redeemable by the banks in greenbacks. There
is no 4doubt about a government note, and a
government note, besides being good, is legal
tender. It is gratifying to find a Now York paper
like the Herald looking to the government in
stead of the banks for relief. Now if the Her
ald would advocate a guarantee fund for the
protection of depositors, it would give its en
dorsement to a permanent form of relief from
such panics as are due to the timidity of deposi
tors. The Herald editorial above referred to
reads as follows:
"It is a condition, riot a theory, that con
fronts the country. It is now universally recog
nized that the cure for hoarding and contraction
oh the part of the public in a crisis is liberal
and immediate expansion. This is what the
Bank of England does when in emergencies the
bank act is temporarily suspended and credit
notes are issued to supply all demands.
"In the present crisis here the exigencies
of-the situation could be met by an issue of gov
ernment legal tender notes to the amount of,
say, $200,000,000, to be redeemed in a year or
two, or perhaps convertible into government
bonds within a stipulated period. The credit of
,the United States government is the highest on
earth, and the notes thus issued to meet the
, emergency would be accepted as being 'good "as
gold.'
"Mere notice of such a measure might re-
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fkiunas renaer tneir actual issue unnecessary.
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A PERFECT CASE
A TirnMilnirfnn illcinnfnli nnirn flinf i1 n fin.,--.
iTniorH nnrl trust magnates have aereed that If
If&the administration will give them asset, our
frency they will not make a fight against the
administration's federal control of corporations
plan. What a very generous offer. It is indeed
one of the most perfect instances of "heads fP
win, tails you lose."
"HELP ME GET ASSET CURRENCY OR YOU DON'T GET YOUR MONEY"
MR. BRYAN'S POSITION
A year ago last summer while in Europe,
Mr. Bryan in an interview stated that it was
too early to discuss the campaign of 1908 from
a personal standpoint although during that sum
mer the democratic conventions in something
like half of the states of the union had passed
resolutions complimentary to him and mentioned
his name in connection with the democratic nom
ination for president. He has from time to time
refused to discuss the availability either of him
self or other candidates, believing that the party
should have all the light possible before attempt
ing a selection. A presidential candidate should
fit the platform adopted by his party, and plat
forms are made to fit the conditions existing
yhen the platform is made. No one can see very
far ahead or speak with certainty as to the issues
or as to the relative Importance of Issues in the
campaign. Sometimes a day will change the
situation, and a few months may bring forward
a new issue which Will have an Important bear
ing upon the availability of a candidate. For
this reason Mr. Bryan has refused to make any
announcement as to his own position although
he has from time to time discussed issues old
and new. Now that the election of 1907 is
past and plans .are being made for next year's
campaign he feels that a statement is due to
the public. Those who' prefer another candidate
are entitled to know his position, and those who
favor his nomination have a right to demand an
answer to the question "so often put Will you
accept a nomination? His refusal .to answer the
question has led to the circulation of many false
reports, and unfriendly newspapers have taken
advantage of his silence to misrepresent his at
titude. Mr. Bryan will not ask for or seek a nom
ination; and ho will not assume to decide the
question of his availability. He has been so
amply recompensed by his party for what ho .
has done and- for what ho has endeavored to do
that he can not claim a nomination as a reward;
neither should his ambition be considered, for
he has had honors enough from hJs party to sat
isfy any reasonable ambition. The only ques
tion that ought to weigh with the party is
whether the party can be strengthened and aided
mfore by his nomination than by the nomination
of someone else. If he can serve the party by
being its candidate, he will accept the cornmjs-.
sion and make the best fight he can. If, how
ever, the choice falls upon another, he will not.
be disappointed or disgruntled. His avalllbllity
is a question to be decided not by him, not by,
a few leaders, not even by the leading news
papers that call themselves democratic, but by
the voters of the party, and to them he intrusts
. the decision of the question they are the su
preme court in all matters concerning candidates,
as they are in all matters concerning the plat
form. He assumes that they will not select him
unless they desire to make an aggressive fight
for the application of democratic principles to
present conditions, and he also takes it for"
granted that the organization of the party will
be in harmony with the platform and will be
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