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JUNE 12, 1908
The Commoner.
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are expressing themselves in much the samo
language.
The aims of the Massachusetts democracy
aro:
For a government restored to the service
of the people, devoted to all the people, and
opposed to privilege, the master, not the servant
of predatory wealth.
Corporations forbidden the issue of wa
tered stocks, forfeiting charters for political
contribution if foreign, subjected to jurisdiction
of state courts. ,
Railroads restricted to fair profits on fair
valuation, restrained from discrimination by im
prisonment of officials.
Monopolies, if public, brought under rigid
control; if private, destroyed.
A fiscal policy of a tariff for revenue only,
a free list for trust-controlled products; income
and inheritance taxes graded and enforced,
A financial system with government guar
antee of bank deposits, the treasury surplus
loaned with security at interest at competition,
and postal savings banks.
A foreign policy of independence to tho
Philippines, American leadership in arbitration
and disarmament.
Constitutional requirements preventing en
croachments by tho executive upon co-ordinate
branches, restraining invasion of state rights by
national authority, that laws be declared uncon
stitutional only by supreme courts, for election
of United States senators by the people.
Legislation for a general parcels post, pro
hibition of gambling in necessities of life.
Public improvements of public lands
through irrigation, reclamation and forestry, pro
motion in waterways, highways, canals and
parks, relieving the unemployed by public works.
Labor protection by the eight-noun law,
jury trials for contempts in labor injunctions,
public investigation and conciliation of strikes
and lockouts, abolition of the fellow-servant
rule, like rules of competition to labor and cap
ital, abolition of child labor.
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"BRYANISM IN PENNSYLVANIA" . .
The Kansas, City Star did not, . of course,
intend to-misleadits readers, but it betrayed' a
lack of information when it published, the
following: '
The loss of the Pennsylvania, contest is
one of the hardest blows received by Mr.
Bryan in his present campaign. The impor
tance of the Pennsylvania issue seems to
have been fully realized by the Bryan man
agers, for they made a most determined
fight to secure the instructions." If the unit
rule should be applied at the Denver con
vention, the "foig Pennsylvania delegation
would probably be controlled in favor of
' Judge Gray fidf Delaware, but certainly
against Mr. Bryan. The result is the more
humiliating to the Bryan managers because
of the derision with which they treated
claims that the Pennsylvania democrats
would not instruct. -
The fact is that- the state convention se
lected only four delegates the delegates at
large. Sixty-four district delegates were pre
viously selected at primaries and of the sixty
four delegates, fifty-two were either instructed
for Mr. Bryan on the ballot or openly and pub
licly pledged to Mr. Bryan during the primary
campaign. It will be, seen, therefore, that the
four delegates at large added to the uninstruct
ed. district, delegates do not constitute a third
of the delegation.
The state convention was controlled by a
group of politicians who were indifferent to tho
wishes of the ' people as expressed at the pri
maries alnd, as' has been shown in previous edi
torials, tho vote' against instructions was pnly
carried by the refusal of the delegates to carry
out the wishes expressed by tho voters.
The Star says: "If the unit rule should be
applied at the Denver convention," etc. The
Star's editor ought tq know that a un.it rule
can only be applied; by the convention electing
the delegates; the delegates elected from a state
have no power to adopt a unit rule, ajid as
neither the primaries nor the state convention
adopted a unit rule, the delegates from, Penn
sylvania will be free, to vote as individuals
those instructed voting as instructed, those, un
instructed voting as they please. If it wqije pos
sible to adopt the unit rule the majority, b.elng
instructed for Mr.' Bryan, would control the
entire delegation, but thope who are' for Mr.
Bryan recognize tho democratic doctrine that
dologates represent their constituents, and no
effort will bo made to deny to other candidates
tho support of any delegates pledged to such
candidates.
Tho Star says: "The result is tho more hu
miliating to the Bryan managers," etc. There
is no humiliation in a defeat that Is accomplished
by tho violation of well-settled democratic prin
ciples. Those who contend for the democratic
doctrine that party organizations derive their
just powers from the consent of the voters
such democrats may suffer defeat but they can
not suffer humiliation. Humiliation can not bo
imposed upon one; humiliation must bo tho re
sult of one's own misconduct. Tho "Bryan
managers" in Pennsylvania have reason to be
proud of the fight that they made.
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GUARANTEED DEPOSITS
The opponents of the guaranteed deposit
plan are finding it difficult to check tho growth
in popularity of that method of providing against
panic. Unlike some other matters relating to
finance and banking, it is difficult to make tho
guaranteed deposit plan appear complicated. It
is, Indeed, all too simple for the men who would
monopolize banking business. For instance, the
editor of the Fremont (Neb.) Daily Herald says:
"This newspaper has no paid editorial writ
ers whose duty it is to string out long arguments
on finance, but It does not seom to us necessary
to master tho fine points of tho financial ques
tion to know that the popular lack of confidence
in banking institutions demands some immediate
measure looking to the protection of depositors.
The time has come when depositors must have
some assurance when placing their money in the
bank that they will get it back when they want
it. It is easy to guess what tho effect of guar
anteeing bank deposits would 'be. It would be
first, to bring out all the hidden money. People
and they number tens of thousands who keep
their money hoarded in stockings, in tho earth
and in secret places would quickly place their
money on deposit If they knew absolutely that
it was safe."
0V JtF trt &
AN HONEST CONFESSION
Mr. Walter Wellman, the -well known
Washington correspondent of the Chicago Record-Herald,
sends back to his paper a very frank
statement of the situation as he finds it at the
national capitol. Mr. Wellman's statement is
published in the Record-Herald of May 24, tho
following extract giving the tenor of it:
"Republican discontent with the winter's
work and anxiety as to the outcome of next fall's
presidential and congressional elections are the
dominant notes of the closing days of this ses
sion. It would not be accurate to say that the
republican leaders are in a panic. They are
not. But from President Roosevelt down they
are discontented; they blame one another for
the collapse of party leadership and failure to
carry out a program that will satisfy tho coun
try, and they are fearful that Bryan may beat
Taft in November. President Roosevelt places
the responsibility upon the leaders in congress
who were trying to 'get even' with him, and the
leaders on the hill place the blame on tho
shoulders of the, president for what they call
his ill-advised effort not only to dictate legis
lation but to name his own successor. At tho
capitol tho leaders of the two houses blame one
another the men of the senate declaring the
most conspicuous failure, that of the currency
bill, is due to Speaker Cannon's bad manage
ment, while the speaker and his lieutenants say
the fault was wholly that of Senator Aldrich,
who would consent to nothing when he found
he could not have his own way. Not for many
years have the republicans finished a session of
congress upon tho eve of the national conven
tions and the presidential campaign in as bad
humor as they are at this moment. No .one
appears to be content. Every one appears to
be fearful of what is to happen in November.
It is the almost universal belief here that Taft
and Bryan are to be the rival candidates, and it
is a curious fact that, whereas a few weeks ago
very few democrats felt any hope of Bryan's
election and. very few republicans would admit
the possibility of defeat of their ticket, now most
democrats are hopeful, while pome are. confident
and a great majority of the republicans are
pessimistic. A few republicans go farther and
confess their belief that Bryan is going to win.
One man, prominent in republican. councils and
a powerful speaker on the stump in every cam
paign, admitted to me his belief that .Taft would
be beaten at the polls."
Currency Reform
Mo an Uncle Billy Borklns has a schomo that
takos th' cako
When it conies t' makln' money by th' peck.
Bill ho thought it up his own solf he's a won
der, no mistake
An' I'm goin t' do Borne puBhln', too, by
heck!
F'r with Bill f furnish Idecs an' with me t'
push th' samo
We're a goin' t' show ol' Wall Strcot where
wo bo;
We're a goin' t' Jump all spraddled into th'
financial game
With a bundle o' this oil stock currency.
Bill ho kept a tab on congress an' ho watched
'em day an' night
Whilo thoy talked about this currency
reform ;
An' ho hinted kinder secret that if certain things
went right
Wo could make a bunch o' money 'foro th' '
storm.
"They're a goin' t' Issue money," said ol' Bill,
"on bonds an' stocks,
An' it strikes mo," ho continued, "you an'
mo
Can incorporate a business that'll bring us
bulgln' blocks
Of this hot-air-no-cont-oil-stock currency."
Bill an' mo own farms adjoinln', though his
ain't as good as mine
'Causo o' mine a bein furdor up th' hill;
An' th' rocks they keep a rollin' down across
th' bound'ry lino
An' a lodgin' on th' farm that's owned by
Bill.
But just where my oast line touches Bill's north
forty on th' west ,
There's a whetstone quarry an' old' Bill
he says t' mo:
"We'll incorporate them whetstones stocks an'
bonds an' all th' rest
As a basis f'r some oil stock currency." '
.' . ' .
v Common stock t' forty million, fifty millions o' "
preferred, ..: .:
- An' first morgidgo bonds a hundred millions '
' ' moro;
An' ol' Bill ho says "debentures," but o' them
1 never heard,
Though Bill says they'll add somo millions
t' our store.
Then we'll do hypothecate an' we'll hook up.
t' th' pump,
An' wo'll agitate th' handle merrily;
An' when wo have got 'em watered wo will
trade 'em f'r a lump '
Of this Aldrich-Vreeland oil stock currency.
Talk about your solid basis f'r th' issuln' o'
stock,
Ain't we got it in that quarry that we own? -Ain't
our scheme o' finance restin' on a base o'
solid rock?
Ain't our plan about th' solidest you've
known?
An' when Bill an' mo gits rested we're a goinV- -t'
make a try
Of another scheme that's hatched 'tween '
him an' me;
' We're a goin' t' Issue stock on all th' blue ex
panse o' sky
As a basis for more oil stock currency.
Then we'll tackle railroad buildln', havin' laid
a plan f'r that,
An' we rather cackllate V play it fine.
Bill he's got th' blue prints ready in th' crown
o' his ol' hat
Forth' Rory Boryalitf Hot Air Line. '
" Ev'ry evenin' we air wqrkin' on our big financial '
. ' plans, '
An' m time J:h' world will' look' on Bill '.'
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As th' two king-pins o' finance, 'cause we've got
- right in our ban's
Most -6'-this here hot-air-no-cent currency. ,
WILL M. MAUPIN.
ONE BILLION!
One billion dollars! This is now the cost
of the national government for one year. It
looks big, to the ordinary taxpayer, but it prob
ably seems quite moderate to the men who have
been permitted, to issue and dispose of about a
billion dollars' worth of watered stocks a year
for the past ten years.
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