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About The commoner. (Lincoln, Neb.) 1901-1923 | View Entire Issue (Jan. 17, 1908)
JANUARY 17, 1908
ample set by the commander-in-chief, not only
would the present discipline of the navy be en
tirely changed, but it could not bo maintained
at all. Admiral Brownson has one of the finest
records of any man in the navy. He is famous
as a disciplinarian and for his diplomatic ability.
Both by temperament and by experience he is
the very last man to be charged with 'personal
pique,' 'wounded vanity' or 'factional feeling.'
The president of the United States to bring such
charges merely in the form of a scolding against
an official of Admiral Brownson's record, is not
only grossly undignified but grossly unjust. It
does not degrade Admiral Brownson; it does
degrade the dignity of the presidential office and
brings the great authority which the people have
given it into needless public contempt."
SENATOR CULBERSON of Texas has intro
duced three measures which the Wash
ington correspondent for the Philadelphia North
American describes and, at the same time, con
trasts with the Aldrich bill in this way: "The
first provides that banks shall be required to
hold in their own vaults the reserves required
by law, instead of depositing them in reserve
cities. The purpose of this 1s to prevent ex
actly what occurred recently in this country
when interior banks were crippled and forced
upon a clearing house basis because they could
not withdraw from New York and Chicago the
funds deposited by them in those two cities. The
second bill provides that interest shall be
charged the national banks for government de
posits, and the charges are graduated so as to
insure the return of the deposits to the treasury
at least once a year. In September, October
and November, the crop-moving periods, the in
terest charge is made two per cent. In De
cember, January, February and March it is in
creased to four per cent. In the summer months
the rate is made six per cent. Senator Culber
son's third bill provides for an insurance of
deposits by the banks themselves, operating in
conjunction with the comptroller of the cur
rency. When a bank in the association fails
the comptroller shall assess all the other banks
so as to meet immediately the deposit demands
against the failed institution. The assets of
the failed bank shall then be taken in charge
by a receiver and administered for the benefit
of the other associated banks. It is in contrast
with these measures that the Aldrich bill suffers
most. Aldrich and other representatives of the
financial interests see no plan by which a recur
rence of the recent situation can be prevented
except by increasing the power of the banks.
They would let the banks use all the money of
their depositors in promotion of schemes and
gambling in securities, and then use some of
those same securities as the basis for additional
money with which to pay their depositors. They
would make an inflation of the currency subject
to the ability of the banks to obtain high rates
of interest from stock gamblers. They would
remove from the banks the spirit of caution
which should prevail in their management, by
making it possible to exhaust the visible sup
ply of money and still produce more. They
would open the way to jobbery with respect to
the securities which are to become the basis
of the new bank note issues, and increase the
credit of railroads at the expense of better con
ducted and more trustworthy business institu
tions. Strange as it may seem, the Culberson
bills might pass the senate and still make the
passage of the Aldrich bill no less probable.
While diametrically opposed in principle and
while aiming to produce the same effects in pre
venting panic and currency stringency, their
actual provisions are not in conflict. The rea
son is that they start in different directions and
upon entirely different theories respecting the
causes of the recent collapse and failure of the
national banking system. Aldrich is proceed
ing upon the assumption that the way to make
the banks absolutely sound and the currency
adequate to any possible business needs to make
the money supply virtually inexhaustible. This
carried to its logical conclusion, is inflation pure
remain on the coins that not a member left his
.seat, and ho was frequently applaudod by the
democrats and occasionally by the rcpublicuriH.
Once "Nick" Longworth himself Joined in the
cheering, and the happiness of the minority was
complete. While the president's name was not
mentioned the entire speech was directed against
an action of his, and there was no more inter
ested listener than his son-in-law.
"Shoppard told how the finger of Cod had
sho'vn in every great happening since the bo
ginning of the government, and- described elo
quently the events which caused the inscription
to be ordered by congress during the civil war.
He attacked no one, but hurled fact after fact
at the house in what memb.ers of both parties
declared to be one of the best oratorical efforts
of recent years in congress, and when he took
his seat republicans and democrats swarmed
around to congratulate him. The house was
in committee of the whole, and the chairman
rapped full five minutes before order was re
stored. "Then Representative Boutell, of Illinois,
told the house that the Christianity or fear of
God of a people was to be detected in their
lives and not by the legend on the money they
circulated. When Shoppard began to speak
Boutell sent to tlio library for a Bible and in
duo time he sprang the fifteenth verse of the
twenty-second chapter of St. Matthew on the
young Texan. It tells about how Christ said
.that what is God's should be rendered unto
God, and unto Caesar that which is Caesar's.
Representative Hardwick, of Georgia, then
proceeded to flay the republicans. He provoked
applause by showing that the United States Steel
corporation was shipping rails to Swansea,
Wales, and charging only $21.80 for them de
livered, whereas the price to American consum
ers at Pittsburg, f. o. b., was $29 per ton. He
declared that he would as soon think of asking
that a committee of burglars be appointed to .
revise the laws pertaining to grand larceny as
to leave the revision of the tariff to the repub
licans. Mr. Hardwick predicted that the only
safety for the party lay In the nomination of
Secretary Taft for the presidency.
"Severe denunciation was heaped upon Pres
ident Roosevelt by Mr. Willett, of New York,
who charged the president with not being a sen
sible man and with having characterized the
heads of great industrial institutions as dishon
est, thereby bringing on a lack of confidence
among the people and ultimately a panic. The
trouble with the president, he said, had been
that he had not been turning on the light, but
turning on the gas. 'We have had; too much talk
from him,' he said. 'We want cheer. We do
not want our chief executive going up and down
this country condemning and striking with the
big stick everything that sticks its head up!' "
ONE DAY IN THE HOUSE
Following is an interesting report (from
the New York World) of one day's proceedings
(January 7) in the American house of repre
sentatives: "Uncle Joe's sweet singers, they whose
voices tickle the ear but have no effect on legis
lation, had a great big inning in the house this
afternoon. Morris Sheppard, of Texas, was so
loquent in telling why 'In God We Trust' should
MR. BRYAN BEFORE JEFFERSON CLUB
(Continued from Page 6)
rushed to the rescue of the banks after those
banks had brought the stringency upon the coun
try by their unbusinesslike methods. The banks
of the rest of the country are discriminated
against in favor of the banks of New York City;
and, after the government has exhausted the
loanable surplus in the treasury, it borrowed
money at 3 per cent in order that it might have
money to loan to the banks for nothing; and
the high financiers count it patriotism to loan
out at emergency rates the treasury money fur
nished them without interest.
"If the republican leaders had spent half as
much time in trying to make depositors secure
as they have spent in trying to increase the
profits of the banker, we would not have had
any panic at all. As soon as business came to
a standstill the eastern banking interests de
manded an asset currency which would simply
turn the country over more completely to the
financial interests. If the republican leaders
had looked at the question from the standpoint
of the people at large they would have notified
the financiers that such elasticity as was needed
should be controlled by government officials re
sponsible to the public, and not by financiers
who have no interest to serve but their own.
"The country is ripe for the application of
democratic principles to government, and all that
is necessary is for the democratic party to con
vince the public that it will be truly democratic
if entrusted with power. Will the democratic
party be democratic? Let it convince the people
that it will be and we shall have a victory which
will be fruitful in blessings to every part of the
country- and to every element of our popula- '
tion." ' l
A Message From Oklahoma
Mr. Bryan received a very generous mes
sage from Oklahoma in the form of a handsomely
framed address signed by Oklahoma officials. It
is noodle to my that Mr. Bryan is deeply grace
ful for this mark of appreciation. The address
Guthrie, Okla., December 21, 1907. Hon.
W. J. Bryan, Dear Sir: Arter numerous evi
dences of your friendship for the people of the
iw n Territories, and your untiring efforts In
their behalf in the battle for statehood, an
enabling act was finally passed In June, 1900
Immediately the campaign was on for the elec
tion of delegates to the constitutional conven
tion. You came among us and were of great
benefit in the viclory that democracy won at
the ballot box In Novornber of that year, which
resulted in electing ninety-nine democrats out
of a total of one hundred and twelve members.
The convention nsscmbled; your counsel and
advice aided It in the production of a consti
tution, which the world today concedes to bo
the leader In organic law, based upon the motto
"Let the People Rule." That constitution went
before the people of the proposed state, as the
final judges of its fitness, and with it were sub
mitted the nominees of the two contending poli
tical parties from which to choose officers for
tho legislative, the judicial, and the executive
departments of government. Again you carno
among us. Your wisdom, your loyalty to the
people's rights, and your counsel to the party
encouraged us and Inspired all lovers of good
government, and as a result an overwhelming
victory for tho constitution, which out of a total
vote of about two hundred and fifty thousand,
resulted in a majority of about one hundred and
eight thousand for the constitution. The demo
cratic state ticket throughout received about
thirty thousand majority. The legislature out
of a total membership on joint ballot of one
hundred and fifty three members, has a demo
cratic majority of one hundred and seven. The
great common people of our state could ask no
more. They have been blessed beyond their
hopes and expectations. Their cup of Joy is
full to overflowing. Graft, greed and monopoly
are the only mourners In our midst. It Is not
simply out of a feeling of gratitude to you for
the past, but also out of the knowledge that
this same blessing to which you have so largely
contributed, is due to the other forty-five states
of the union, as well as Oklahoma, that we take
this humble means of thanking" you for all tho
past, and declaring it our pleasure to aid in
holding up your hands and strengthening your
arms for more of the good work. Sincerely,
C. N. HASKELL, Governor.
GEO. W. BELLAMY, Lieutenant Governor.
WM. M. CROSS, Secretary of State.
M. E. TRAPP, State Auditor.
CHARLES WEST, Attorney General.
J. A. MENEFEE, State Treasurer.
E. D. CAMERON, State Superintendent In
CIIAS. A. TAYLOR, State Examiner and,
PETE HANRATY, Chief Mine Inspector.
CHAS. L. DAUGHERTY, Commissioner of
KATE BARNARD, State Commissioner of,
Charities and Correction. '
T. J. McCOMB, Insurance Commissioner.
W. H. L. CAMPBELL, Clerk of the Supreme i
A. P. WATSON, Corporation Commissioner.;
J. E. LOVE, Chairman Corporation Com-'
J. J. ..cALESTER, Corporation Coramis-'
R. L. WILLIAMS, Chief Justice.
JESSE J. DUNN, Associate Justice. )
JOHN B. TURNER, Associate Justice. ,
MATTHEW J. KANE, Associate Justice. s
SAMUEL W. HAYES, Associate Justice. '
HENRY S. JOHNSTON, President pro tem.
of the Senate. '
J. P. CONNORS, President Board of AgrI-;
WM. H. MURRAY, President Oklahoma)
Constitutional Convention and Speaker (
of House of Representatives, first leg-
islature of Oklahoma.
A. H. ELLIS, Second Vice-President of Con-'
stitutional Convention and Speaker,)
pro tem. of first legislature.
J. B. THOMPSON, Chairman Democratic)
State Central Committee.
ED. O. CASSlDY, Chairman Democrat!
State Executive Committee.
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