wr-
s'
The Gomiiionefe
A M
'
6
VOLUME ..7. NUMBER i
-V"
.?
xmwi
r,.-.''
-.
Section' can bo made tovthe use ofthe goVefn
ihentfas a guarantor when it is amply protected
from. loss. .. :i. - '' -
" The only objection that is likely to 'be made
IS' Hat state banks might be less" attractive to de
pbslt5rs if national "banks are guaranteed, but
there' are two answers to this objection. In the
first .place, state banks are likely to suffer if this
financial stringency continued, and -they- are
"therefore interested in restoring confidence. In
the second place, there Is no reason why state
banks should not be protected by a simiTar sys
tem under which the state would guarantee de
positbrs in state banks' and cbllect the expenses
from the state banks' -guaranteed; " '" '
Mr. Bryan proposed .when In congress the
raising of a guarantee fund for the protection of
depositors, but the bill was defeated by the
larger banks on the ground, that the big banks
would' have no advantage over the little ones if
all:'depositors were secured, but now, that the big
TJahks are suffering as much as the little Oris
the objection will hardly be 'made'." The "plan
then proposed would furnish projection
as far as the fund would furnish it, but it would
take time to raise "such a fund, and it
is better for the government to make the se
curity absolute by becbming guarantor, for this
system can be put into operation at once and
that, too, without expense tothe government,
inasmuch as the banks VotUd -reimburse the gov
ernment from time to time "in: case 'the govern
ment was called upon to "pay the i deposits of any
failed bank.
Uv
oooo
)'. '" -
yd ,f; "WORKING TOGETHER" j-
vto: r?n an editorial entitled M Working Jflgetfter"
the Wall Street Journal says; For1v2th& first
time in many months the administration "and the
leading financial interests of the country are
working together, or ..at, least. . along parallel
lines, for the "restoration Jof business confidence.
tfThatNthere are still sharp and perhaps irrecon
cilable differences between them as. to the many
-issues entering into the question of the control
of .interstate commerce goes without saying, but
whereas lor a long time they have Tieen facing
'teach xther in angry contention, now they have
apparently turned about, and fetarid -together,
shdulder to shoulder, to face' a VastferlprobLom
ia.n,dja more fearful pejrilr than -any involved in
.-the xporporation question th'e problem and the
danger of panic." ....
mj-;.'; Mr Rooseyelt will -have to keep, tin- eye open
while he and hiswhilom opponents are "work
ing, together." They, wilt pat Jtlim on the back
tw.hep lie jnakes a bond issued wkenlua' advocates
pooling, when he favors the exclusive,., control
Wycthe federal government .61 railroads and. they
will throw their hats ,high, in the air when he
yields to their pleas and in his message to con
gress favors an emergency alias asset, currency.
And then they will turn' upon their presidential
iicomited with the same readiness with , which
i&K? ,8elze an PPrtunity to oftprfess the people.
qw xv.wr uave a care, Mr; rresldent! Bettor
stand shoulder to shoulder -with thh npnnie w
;11 questions, even as you have done on some
questions, than to trust, yourself .to the tender
.mercies of men who know.no mercy in their
.mad chase for the dollar. . . 4 . . , ,,,.
si
i
OPEN THE BOOKS
erning ; the publication of campaign "funds the
Sioux City (la.) Journal (rep.) says: ; "it is
Mr. Bryan's purpose to challenge the republi
cans to meet him on the ground of publicity for
campaign expenses, and the challenge ought to
be accepted. Too much noney of the wrong
sortwa gathered andL expendd oiv question
able, purposes on both sides in the last' national
campaign. Both parties .ought to be able,. to
ralse clean campaign funds and expend.them in
such a way that the light of publicitTan shine
2S.iVJranSf0t?11B- 7 ou Hics running
Jjrgely.to the demand fp.r honesty -in business.
pajgning."make SUre pf & IKlifcical
- It .would be well if newspapers,. of' all politi-
,cal parties spoke promptly pon .this subject,
thus creating a. public sentiment wiaich. political
, managers dare not. ignore, . . ,
oooo
; TIME FOR ORGANIZATION'
f tjmo'to'itjreaiiteo. Muchtijne is Wst
Pel' &e- natIonal.?nv?ntion' before 'members
9L9 J? iPtetb' ,ihelrv Organizations
aud got ready for work. T.h'erie-isVno' reason
why this work should not be doheMa?tf6hiej so
that when the campaign bpens the dubs canJget
tb work immediately. In fact, much godd cduld
bo done during th winter If wo had1 ur clubs
already organized, for these clubs could hold
open meetings and challenge republicans to dis
cuss the abuses that need to be remedied, and
the remedies prbposed. The Commoner, there-
lore, nrges the immediate organisation -of cam
paign clubs." ' ' -
- Democrats of every community should ;et
together and form a club, and go to work for
democratic principles. If they are united as to
the-platform that shall be adopted let them pre
pare the platform and urge its endorsement in
their precincts and counties.
The nomination of a candidate should come
from" the voters, and the platform .should tie
written by the voters. But the Voters can do
T-ery-littlO unless thOy are organized.' Organi
zation is necessary to secure success.
Let the work of organization begin; let
the. clubs-be formed; let the candidate and
platform be discussed., . : Then the voters will
be. prepared to; instruct their delegates as to
both candidate and platform. v
The Commoner will be pleased to - report
the formation of clubs, and as far atf possible
It will present the various platforms suggested,
in. order that its readers throughout the coun
try:: may know: what 1s beingr said and dohe in
the. various ''sections, . Now is the time k to
organize. ..-, , '. -v- "
xxx
,. UNFAIR CONSTRUCTION
r - 'Mr, Bryan's attention has been -called to
severaT editorials in "Missouri papers, putting ah
i-uufair construction upon GovernoV '"Folk's visit
to -Nebraska. Mr. Bryan invited Governor Folk
to visit him as he has invited Senator Stoife
and other Missourians: Governor Folk 'visited
ihim, and- Mr. Bryan hopeS that Mr. Stone will
findit possible to Geometer-Nebraska in th 6 near
'future,- but these visits must riot be 'construed
as having any bearing upon the political situa
tion in Missouri, or as indicating any preference
between Senator Stone and Governor Folk if
both of them-are' candidates for th:e same office!
TMP'.nyAnhas,.made4.tta.frulQ,,not,to, take part
In contests between democrats in the various
states.,.. , , . '- " 'tv"-kl-
.' ' , This" statement ismade tn'at the democrats
.of ..Missouri may know. Mr. Bryan's.position,' and
riot accept as true any statement that may "be
made .by- the, friends, of the .-various- candidates
..'if h.ese.stajerijel),. either, directly or indirectly
, Ch4te. Mr. ?ryto jwith,ttempting to. influence
public opinion linlfay.pr of or against "eitlier Sen
ator Stone or .Governpr F61k, or any otfter dem
ocrat who aspires to public office.
Ki.f
4 ''
; oooo
GRATITUDE!
Louis F. Post editor of the Public, has' a
way of hitting the nail on the head. He never
4nade a more, certain strike in that direction
'..than .when he wrote: "TJiese expressions of
gratitude to Pierpont Morgan and John T. Rock
e'felleY for throwing in "their millions and 'sav
ing the day are. singularly disgusting specimens
0& toadyism. Thanks to the financial distress
which is ruining its thousands, Mr, Morgan and
th.e Standard Oil crowd have picked up. control
,of; a, continental railroad, a big trust company,
and the.only great competitor of their steel trust.
The" suffering of others has made a harvest lor
V
oooo
IT ALL DEPENDS
...1.
In criticising those wno noard their money
in secret placeB, only to have it stolen, the New
,Tpr Herald yfl: "A thief can not negotiate
?,a nbn-transferahie, dividend paying stock" It
all depends ;ori Whether the ' thief is a mere
-pb"rcli cllmher br;sdpond story worker. dfv an
eminent financier,, 'who plays " the "Raffles" act
fi-om'the inside,' ..
-;. .'',..-.. jOOOO
THE THREAD TRUST
Buttressed "behind a protective tariff that
permittedthe organization, the thread1 trust re
cently announced, an increase in the price of
?thread amounting to; more than twenty ner cent
The trust did this, Knowing from experience
..that the people were very patient, and also very
thoughtless. They would not mind ' such
trifling thing, as .advance, of one. centra Spool
in thread prices, But to quiet clamor .the thread
.trust advanced the plea that the price had to
be-increased" on account of th'fi'fTiorn ,
paid for' labor and raw material Tdi Pr,co
comes tie .annouricement that ; So n ? now
has declared dividenfipf try
what of it? 'The neople will nnf CSJ e,nt But
to such a little thing "as advanced nybJect
a spool iri-th'e price It tHread? SurGlv ?? Cent
be willing to "let well enough alone? y hey Wil1
: OOOO
. an;.jsbsobd -interview"
s The. Kansas-City (Mo.) Post in-its issu n
taSESfi? saId;tllat Bpatches from'w sS
togton in the morning papers of that day auotefl
WT'JBXXM. asLhaving made this statement:
i '? am deposed to believe that the most
unfortunate apt of. Andrew Jackson's admta-
Ration was his veto of the act renewing
the charter of the United States banks I
say this, recognizing that no act of his was
more popular at the time and from then
. until nowj none has been more universally
; approved by. the American people. A largo
central bank, clothed with authority to dis-
: count commercial paper and to issue cur-
, rency against the same as in other great
I conimer.cial countries,, would do much to
prevent a. repetition of conditions such as
, we are now experiencing, but the American
people are Against such centralized commer-
t cial power, and I do not believe five per
, cent of either house, of congress could be
.induced to votetherefor. , Much good would
ne accomplished if the bants of this coun-
( f ttry were permitted to indorse acceptances
. dra-rn ;against actual values and in the ordi-
'nary course of trade without reporting the
Bame as Te7discount. Another essential is
.",. s?e.at reservoir corresponding to the cen-
traj-bank of other countries, where in times
"" of .pressure the.excess,of credit can be stored
and notes' issued against it.,V-.
'' .'The Commoner has no' doubt that the little
chap who does duty as offide boy in the sanctum
-of the Kansas 'City Post could have told the
editor.' of. the Post that Mr, Bryan never made
the statement attributed to him'.- But the editor
quotes the' ;errorie1)us ' matter aiid pi-oceejis to
read' Mr. Bryan out of-'the' democratic parfyV
i ' .01 course Mr-i Bryatf- did i(ot in'a'kO' atiy'suca
tatemOUtV. By soMe.' stianS mistake in news
paper dispatches-the statement, as printed above,
which .was really made' by Former Secretary of
the Treasury -ShawV was attributed to Mr. Bryan.
The. -Kansas City Times from ' whose morning
edition the Kansas City Post obtained this state
ment printed in its evening edition this correc
tion: -"A statement by ex-Secretary Shaw of
the treasury department, in NewYork last night,
in. faVor" of a federal bank, was, by an error,
credited in the Times this morning to William
J. Bryan."
. 'This isjadi the first iime. the Post has, while
.professing 4 friendly spirit ' toward Mr. Bryan,
shown a. disposition to sei?e the' smallest pre
text to .attack 'him. The Post is of course en
titled to its own opinion1 and whatever its opin
ion concerning Mr. Bryan The Commoner
has no complaint to make. . But if the Post
would create among its democratic readers a
prejudice against Hr. Bryan it ought, in justice
to itself, to adopt some more plausible basis
of attackthah the claim that Mr. Bryan made
an assault 'upon the. memory of Andrew Jackson.
OOOO
IABOR ORGANIZATIONS
Senator "Beveridge uses Italics to emphasize
his statement -'President Roosevelt, in five
'years, has caused more Injunctions to be issued
against lawless trusts and directed more crim
inal prosecutions against migmjr law violators
than was done during the four preceding ad
ministrations combined." : As President Mc
Kinley1 presided oyer one of these administra
tions and President" -Harrison' over another, the
senator's comparison reflects Undn conspicuous
members of his own partyy There is no
objection to mis eulogy of the" "present president
at the, expense of the. former republican presi
dents, but ho should remember' that the influ
ence of President CleyelandJS administration
was thrown, against the democratic ticket in
18S6, andsfcfl 'ought not tof .charge up any of
the delinquencies of that administration to
the demopratic , party. But , while President
Pyooseyelt has, commenced I more, prosecutions
than his ; predecessors, he-'has ..not sent tho
mightyula;wyioiators, to '.penitentiary yet.
How mn.nv triiRtH .Imv.lioAn Avfcrmlnated? And
at the rate the president has gone, when
UU:'.
J. -wWWv lrf.
r.i.tq w.j,'utvjr.,., ,tf,,r lilt.$ltJfji
;)-"
