The commoner. (Lincoln, Neb.) 1901-1923, February 21, 1908, Page 9, Image 9

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    FEBRUARY 21, 190S
The Commoner.
Q BNATuit TILLMAN has presented to the
O senate a .protest against the passage of
the Aldrich bill. The protest was written by
Alfred O. Crozier, a manufacturer of Wilming
ton, Del. The Washington correspondent .for
the Chicago Record-Herald says: "The petition
strongly objects to tht feature of the bill which
removes the restrictions of existing law against
the retirement of the present bank note and
the contemplated emergency currency. 'Such a
law,' says Mr. Crozier, 'would start agitation
that might take from national banks the right
under which they now profitably issue and loan
to the people nearly $700,000,000 of bank note
currency and perhaps jeopardize the gold stand
ard itself. The biggest 'joker' in the Aldrich
bill is the fact that the restriction upon con
traction of bank note issues is wiped out en
tirely. It makes it possible suddenly to con
tract and destroy in one day the entire $700,
000,000 bank note currency and also the $500,
000,000 emergency currency of a total of $1,
200,000,000 of currency used by the people as
money. Sudden contraction of but $50,000,000
available money by bank depositors recently
caused a fearful panic and alarmed the whole
country. What would happen to the country
when the strangling contraction of more than
a billion dollars, about half the available supply
of the United States, the most active and con
venient half, was begun?' "
IN A LETTER addressed to W. Dudley Foulke
of Richmond, Ind., Mr. Roosevelt on Feb
ruary 9 branded as "false and malicious" the
charge that he had misused his authority by
appointing men to office in the interest of the
Taft presidential boom. On February 10 Sen
ator Foraker rose to a question of privilege.
Referring to Mr. Foraker's remarks on this
occasion vthq Associated Press says: "He pro
duced correspondence relating to the appoint
ment of Charles S. Bryson, whose nomination
as postmaster at Athens, Ohio, was withhold
temporarily for the alleged reason that Bryson
had given an interview while in Washington
expressing the opinion that Taft was losing
ground in the Ohio contest. The correspondence
showed that Bryson had stood his ground, and
his declaration of political independence had re
sulted in another order from the White House
making the appointment. The communications
on the subject were between Representative
Douglass, of Ohio, and Mr. Bryson. In a very
temperate manner Senator Foraker comment
ed on the case, but insisted that the records
clearly showed an attempt to 'coerce' Bryson,
and that his fearless stand had been responsible
for his retention by the president. The senator
said that it was no exaggeration to say that
there are 100 cases in Ohio where the appoint
ments had been made for political purposes, but
there are few where documentary evidence can
be produced."
MR. FORAKER said that Congressman Doug
lass, who had recommended Mr. Bryson,
wrote to the latter saying: "The president
bluntly told me that I would have to recom
mend another man." Mr. Foraker said that
Mr. Bryson then sent a letter to Mr. Douglass,
in which he gave his view of the situation. He
said that in his Interview he had said that Taft
was losing and Foraker gaining in Ohio, and
that Taft, If nominated, could not carry the
state. Mr. Bryson reiterated this and declared
that it was true. He said that he. had always
been in favor of the president's policies and that
nothing had ever appeared in his paper in oppos
ition to the administration. He reviewed some
of the things he had printed, however, includ
ing the statement that the president would be
compelled to take another nomination, because
with Taft as a candidate the labor, capital and
negro vote will be eliminated from the party.
He asserted that the president's statement of
his (Bryson's) activities, as reported to Mr.
Douglass, was entirely wrong, and in conclusion
Mr. Bryson said: "I favor the president, but
not his candidate, and I shall not stf long as I
think Bryan can beat him at the polls. me
letter contained a declaration of political inde
pendence so far as expressing preference for
candidates is concerned, and Mr. Ilryson an
nounced that while he would like to continue
in oillce ho would not do so by the sacrifice of
his independence, and the president could have
the office for some one who was willing? to
carry out his personal wishes in all matters.
Senator Fbraker 'characterized the letter by Mr.
Bryson as "an able, frank, candid statement,
with no beating about the bush in it." He said
that ho supposed Mr. Douglass had laid it be
fore the president and the president decided to
send in the nomination. Senator Foraker gave
the president entire credit for seeing the justice
of such a course, in view of the manly reply
made by Mr. Bryson, to criticism that he had
made of him.
THE REPUBLICAN primaries in Ohio were
carried by the Taft forces. Following the
primaries Senator Foraker gave out this state
ment: "Nobody should be either surprised or
misled by the result of the primaries hold in
Ohio. It has been common knowledge for weeks
that the call for these primaries was of such
character that my friends throughout the state
refused to participate. Consequently there wan
no opposition to the selection of Taft delegates.
Under such circumstances ho would of course
carry everything. That the result of the pri
maries does not' indicate anything conclusive
should be manifest from the fact that the total
vote polled will not represent more than ten
per cent of the republicans of Ohio. There were
only two districts in which there was any ap
proach to a contest, and these contests were
due to the fact that there were opposing candi
dates in each district for the nomination to con
gress. In the Sixth district the Taft candidate
was defeated by 1,025, while in the Fifteenth
district, Mr. Dawes, the Taft leador and candi
date for re-nomination, is probably beaten, ac
cording to the latest advices I have received. If
there had been a primary in which we could
have participated similar results would have
been possible, if not probable, all over the state.
Recurring to the state convention, it should bo
borne in mind that it will be composed of rep
resentatives of only one faction of the party.
Not because the people have so decided but be
cause the course of the Taft managers was such
as to bar everybody else out from participation."
MR. BRYAN addressed the Canadian club at
Montreal February 10. The Associated
Press said: "The hall of the old Corn Exchange
in St. John street was thronged, about five hun
dred guests sitting down to the luncheon. Mr.
Bryan was welcomed by a round of tumultuous
cheering. He said he was glad he belonged to
a political system under which he could wish
Canadians well without being accused of being
unfriendly to his own country. He belonged to
a political school that believed every person
had a right to do what he wanted to do, so long
as he did not interfere with the liberty of other
persons. Each state and nation had an undis
puted and inalienable right to do what it wanted
to do, so long as it did not Interfere with an
other state or nation. He and those who were
of his school would watch Canadians growing
and prospering, and Instead of envying them, re
joice when they prospered. He considered him
self an optimist and though he had his eyes
and ears open to the sorrows of the world, that
would not discourage him from working towards
the triumph of righteousness. Everywhere ho
traveled he saw signs of regeneration and pro
gress. Speaking of the so-called "yellow peril"
he thought it would be impeaching the Almighty
to fear the elevation of any one race. The ad
vancement of China could not take place with
out raising at the same time the Chinaman's
IN THE SENATE Mr. Culberson of Texas at
tacked a report' made by Secretary Cortel
yqu concerning the bond, issue. Senator Cul
berson declared that the secretary of the treas
ury by this report to the senate, has raised an
issue of fact as to whether national banks in
New York used the $75,000,000 of public money
deposited with them for speculative purposes or
whether this money wns used to meet the de
mand of outside banks for reserve purpose.
Mr. Culberson charged that the report of the
secretary of the treasury contained a denial of
some of ills own statements. "The secretary of
the treasury," hr said, "says in effect that
$25,000,000 of specie held by the Nw York
banks, and $10,000,000 of re:irvu was used to
moot the call of the outside banks whoso re
serve the banks of Now York hold, whereas the
report of the secretary shows clearly that tho
amount which tho National City bank owed
other banks decreased between August 22 and
December 'A, only $10,820,511 and it is signifi
cant that although tho New York City banks did
not pay to the banks outside of that city moro
than this $10,820,511, they increased their
loans and discounts during tho same time $32,
000,000." Mr. Culberson exclaimed: "I want
these figures to ring in the ears of the American
IN THE SAME speech Mr. Culberson said:
"These figures show that while this panic
was on and while individual depositors wero
clamoring for their money, while the Now York
banks wore issuing clearing house certificates,
while the outside banks wero demanding their
reserve, the national banks of Now York City
increased their loans and discounts $0.1,000,
000." Mr. Culberson declared that a part of
these loans and discounts went to stock brokers.
"A letter," he said, "received by me this morn
ing from the comptroller of the currency, in
forms me that notwithstanding the crisis be
tween August and December tho loans and dis
counts of the national banks of Now York City
wore increased on the security of stocks and
bonds loans from $251,000,000 to $302,000,
000." Three hundred and two millions wero
loaned on the collateral of Wall Street and yet
they suspended payments to their individual de
positors and to their banking correspondents
throughout tho country and they did It when
they had money in their treasury with which
to meet their obligations. Ho declared that whilo
New York had so much cash in Its banks south
ern banks wero paying a premium for cash and
added the declaration that tho panic did not
arise from natural causes,, as the crops and gen
oral business of the country were never greater
than last year. "Yet, in view of these remark
able circumstances the party in power refuses
to make an inquiry or to report this resolution
even adversely In order that we may act upon
it here." The Aldrich bill, he declared, would
give tho banks more power and would foster
stock and bond speculation by the banks and
still further discriminate against the general
public and in the interest of tho bond holding
classes. "Against this policy," he added, "I want
to enter my earnest and emphatic protest."
IN RESPONSE to a question asked by a rep
resentative of the Philadelphia Telegraph,
Mr. Bryan said: "If the voters of the demo
cratic party want another than myself nominated
at Denver they ought to instruct their delegates
to that effect. If they want me nominated they
ought to instruct their delegates for me: It is
not a matter to be decided by me or by any
small faction of the democratic voters. It is
for the majority of democratic voters to deter
mine. In November last; to stop the misrepre
sentations that were going about as to what I
might or might not do, and as to the conditions
under which I might or might not be a candidate,
I stated that I would not ask for a nomination,
but that I would be a candidate if it was the
desire of the democratic party that I should be.
Believing that In parties, as in popular govern
ment, authority comes up to the official from
the people. I believe that voters as they gather
In their communities should express themselves
on party principles and candidates and then
select delegates in harmony with their ideas.
Instructions are democratic because the delegate
has no authority except as ho receives instruc
tions from the voters, and the delegate ought
to say that which the voters want said."
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