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About The commoner. (Lincoln, Neb.) 1901-1923 | View Entire Issue (Oct. 16, 1908)
ai ""m nv- "j ' OCTOBER. ,16, 19 OS The Commoner. 7: T-m.li ' iyy PROTECTING DEPOSITS IN BANKS. An Ohio example of Taft's position and, Oklahoma's proof of Bryan's position: One of the planks of thd Denver platform favors guaranteed bank deposits. Mr. Bryan addressed the Ohio legislature in February fa voring guaranteed deposits. Former Governor Herrlck subsequently addressed' the legislature in reply to Mr. Bryan opposing any such pro tection for banks and bank depositors. Mr. Taft, in his speech of acceptance, t de nounced, the plank of the Denver platform, -which declares fdr a national law for nationa.l banks similar to the Oklahoma law for state banks, thereby coinciding in the views of Mr. Herrlck and opposing- the views 6t Mr. Bryan. ' ' Below are two dispatches showing' what Mr. Bryan stands for and what Mr. Taft, stands for: ', '" ' ', THE OHIO WAY. Cleveland O., Aug. 17. The t creditors' committee,, ' charged with an investigation of the affairs of the defunct Farmers and Merchants' " bank; "the cashier of which, Henry :W. Gaz'elly is under arrest charged with embezzlement, tonight reported that the depositors will be forced to shoulder a loss of $415,000, The report,, made. in OKLAHOMA WAY Guthrie; Okla., May 2i.lWithin oh$ hour' from the time 'H. H. Smock, Oklahoma banking commissioner, had taken charge of ' the International bank of Colgate, he had au "thorlty to pay the de positors In full, though the bank's cash and available funds In other banks fell $22,000- short of 1 the total amount of 'dcnoslts. The com- o -mnoHnrr rfl. f. ROA At- mknlnnpr wnfl fllllft to Pstprsr- charged; the? 'dotbis under the op d9jit, to Gazel,.al?,egr ,r e'ration of the new injL h t speculations .banking law, and- this PKva, disastrflUBj ..is, the first time Jt has the institution. fr t , b,een called into use. TAET STANDS FOR BltYAN STANDS FOR WHICH PliAN DO, YOU PREFER f A '- &&!&' " l .,. ,.;., ., SAFE! . ,:. . At Sandusky, 'Ohio; MrV Taft saidr '. "If I amf elected" presided Fftropcisetb devote' all(ithe Ability that is in me to the constructive 'work of jsuggesUngto congress .the means by which, thd -Roosevelt policies shall' 156 cliffclie'aV' ' ' , And If it's. a. republican "congress it Is dollars 'to doughnuts 'Vewnr not .hjaye. any 'better sucj .cess in his "suggestion's" Irian Mr. Roosevelt m " I , I ? m aj.v-X..v ' , ) It'i If t2r v 1 W MR,' GA&13lAND &UANTEED DEPOSITS1 Secretary Gage, in discussing the Fowler ipill, had this "to say' on the guaranty of deposits:'- r "The stumbling block in the bill to most 'everybody, at first blush, is the guaranty of de posits. It stumbled me I fell right down over that I said never, never; no, that won't do; But I reflected' on this. I studied this bill, andI am persuaded that, it is just, equitable, wise and rightthat thq creditors of the banks which come under the provisions of this bill -will have their deposits guaranteed to them as will be the bank's circulating notes held by the general public. The nature of the obliga tion from the bank is exactly the same in prin ciple whether evidenced by a pass book or by the bank's notes in the form of circulating mon ey; there is no difference in the principle. It may be urged that the man depositing jbad the right of selection, and ho acted upon his own volition, but when he toolc the note he was under coercion There is' a- certain plausibility in the argument, but where there is only one. or two banks, or only three banks, there is not much right, of. choice wberi a man is under coercion, of a, "business necessity." . tw Jj& t2t w BANK DEPOSITS Mr. Taft -has undertaken to prove, that a workingman who deposits his savings in a bank lis not entitled to get the money when he wants it His arguments "along that line will strike a Tesponsive chord in the breast of every bank wrecker, in jail or out. But it will take a heap of powerful talking to convince the average laborer that Mr. Taft's reasoning on that question is sound. Human nature is peculiar.' It is sometimes difficult to analyze men's thoughts and convic- tions. And one of-tho hardest tasks any states man" ever undertook was to convince a man who has worked hard and saved a little monoy that the bank In which ho deposited it for safe keeping should not pay it back to him when ho wants "it. Mr. Taft may bo able to convince (he people that they are unreasonable in wanting .thoir money back, but wo doubt it. Chicago Journal. 5 5 5 i - IDEAS, ABANDONED. AND BORROWED .. Following Is an extract frp,m Mr.' Bryan's speech at Albia, Iowa: Mr. Taft says that I have not done anything but talk, while ho has "been putting hls idea's Into practice in' ah administrative way.- While it IsrjtroiiO; that he has held,. ojficjv:more. than J hav.e,&ird -lib eref ore $as .had njorc .opportunity, to ptit Aden's Into ' practice,- I- TfavV had ,fnioVe opportunity to see my ideas 'jj)oj:rbtyed thai! lie has had' to see .his ideas borrowed.- What idea of his own has ho pntinto practlcerwith!success? He was a judco upon the bench. "Was the. in junction Idea his, or did ho get it from some bodv else? He put ft Into -practice, but ho put it into practice itl.tfuHi h twayittfatWe hakfalien ated the waee earners of the, gqunfcry.. He has put colonialism '.Into practice-,, jJb ;tbatfeWs idea?" No: he got it from urop'8. an. fmitaje in tlie Philippines what Great Britain, did "ir( tb is country bofpf ?; the , war rfor independence. What idea of n is .own. has .he. 'practically applied to government? ' ' "," ; ..riC L"r. I, Now, let mertshow yo&t wbAt .Ideas heas. borrowed. He lias, abandoned the ideai -Ot,, a permanent colonial" system ana advocates. .thQ uHImate Independence of the Filipinos 'vvrhqre did he eyt ilit idea,? , It is not oViefnat, with hjm. He did not tret it from tho.renublicanR,;fpr thev have never Pllt itjn their platforms. "WKrp s did he set it? . He; gptJJ fXPWi Jtha domoftrtiq pjatforni, and T IjayA.bftd as.unych;,tq .do ,wtth th pi;esQn,t9.tion QfioAofr aRjanvjpnq.-filao. ..$$ snyR ho Is in,. fnvpjApf;(an incc-rag tix, Whflrp djd he tret the ideo?r 1 Js not hi9.plwn,i(( Xt.wa.s in the democratic platfprm of 189(5; It Is in qu;t platform, this, xear It. ip, not In his p,ntforra . He con not claim originality in .th nrQPtntlon Pfi.tWs.Mea, I have spolfgn tPQ ithes.ublQRt enrlier than -lie has. and ottenerjthanbheJAHj ipd more earnptlV th-an'-he hasrf He xaxs ffchat he is perponajly Inclined to favor the election of penators bv tho. direct vote of the people. That isnot an original Idea, wjtli him; it is :not with his party. Iti,w8 the democratic party wbih flrRb-secrptl.injenoxsenent jrf that idea bv the house' of renrpentativps at Washincton. It-Is in three deiriocVatic latformstfd1 TJhelnea put it there. Itnwatf ih mV nfSt'nreioVal platform eierbtee'n years a'g'o, arid I' wrote the platform mvself. Publicity as to campaign Contributions is another idea that he thns borrowed, and if ho has not .borrowed' it from me, be. has borrowed U frdm the 4dem6crHs and hotrfom;h;j$'rPT)lib lioan assonfa'tes,(;for 'Mid own party repn'dbifetf the idea ly.a vote..'of nine to Qjie. I went tp Waahincton and made an arcrnmeht before the committee of the house having this bill in chnrtre some time before his letter to Burrows, and the letter to'Rnrrows was not a public one. His convention turned;, down a publicity plank; bis .associates ,are ,no,f'willincc to have any pub licity at all: he, cdraes'baTf wav toward ourpjat; jform, but be d?pfl'jiot come far enough, for we want pubUMtv B"RFOT?E the election , and ho wants ,l't AFTER the election." But what is his reason' for postponing pub lication until after the election? Is it the rea son that President Roosevelt elves, -that pub lication before tb'e election would lead to unjust flusnfciopB? I challenge him to endorse Mr. poosqvelt's proposition that the voters have so little sense that thev must not bo allowed to know whoare contributing to campafern funds for fear they will draw wrong conclusions. He now claims to be in favor of prosecuting the trusts. Where does he get that idea? Ho can not get it from former republican platforms, but he can get it from democratic platforms and from democratic speeches.- Xet him tell of his first utterance against the trusts, and I will promise to find an earlier democratic utterance. He is in favor of tariff revision, and he says the revision will probably be downward. If lie is in favor of reducing the tariff, where did be get the idea? Not from the republicans, for they have raised the tariff and oppose reduction; the republican platform this year does not use the word "reduction." If be Is in favor of re duction, ho has borrowed another democratic 'Idea. I. will givo him credit for being ontlroly re publican on tho labor question, for ho has not only rofusod to borrow democratic ideas on that subject, but has shown himself hostile to nearly every request that tho laboring men havo tnndo. I will also give him credit of being ropublicau on tho question of the guaranty of bank dopoff ittr. Ho stands with tho big bankers and ngaihfat the depositors on this subject and ho is welcome to" tho claim df originality .if ho desires to niako it. Now, I have monttoned a few of tho ideas that ho has borrowed from tho democrats, and -as I havo, for many years, been advocating these Ideas which ho has borrowed, I can soy, without Immodesty, that I bavo had part in his cduca tfon. Jf havo holpod to convert him from the (jrror pf his ways helped to lead him out intd! tile lighton several' J questions. Ho has not been an apt.pupll; ho. has been behind his class on several of these, questions, but still ho show signs pf improvement, and wo must encourage whore, wo can. He can not promiso you a single thing in the, way of reform that has not been.' PWWft ,'lJVa U.Qttpi Wan by tho democrats,' So far as ho,, is cpno;QrUc.d, J can claim to bo a fiL9.l1J?,irv :j,:ovo boon (ahead 'of him from one ttfifden 'years." 'With" what reason can ho tfalm-Umt M, can, put iny, , Ideas into pporation . hotter than l.canmysojf?. Hq ought not to dltft credit triy work; for my1 work has helped to bring bm"fpni pdsltlopii tUiit lie "daro not defend up to. positions that he. triesxto defend, but de fonds awkwardly and half-heartedly. Yet for moro than lialf n century no jmrtl sAn'leadciY'no ftnaucifr, Iiari mlvocnU'd tho gwir anty of bank deposits. Mr. Bhermnn, Nor, until very recently, (Jio purchase of airships toil (military use. Tlio world just will move, Mr. Sherman, and you can't stop It. Indianapolis News. jitt it mi 002) - ( 'JdHISFATVniiY DISCUSSES POLITICS " ' ' To the Editor of tho New York World:, My. father (who has voted tho ..republican tjoket since tho-.organization 0 of the party), my threo brothers and my- d) self (all of whom havo voted tho re- puhljcan.tlckqt since wo. turned twenty- , one) .have been discussing JtW, campaign, ;r) . Last night we made our41do9lsion, and) it., it that wo shall vote for Mr. Bryan, for . , . the following reasons; , , . ri. The republican party ban been in. 'poor .twelve years .and has forced upon r tlifcf- Country' an Iniquitous tariff (tho 0 cause of all our trust trouble), and now only because of public clamor it prom- 0 :ises a "revision." 0 2.' Itepublican administrations have constantly been more and moro waste- ful of the public- funds. 3. Because every trust In the coun- try Is arrayed on the sido4pf tho rcpub- .."lfcan party. Why?.. ,". . 4. 'Because we are tired of. Speaker Cannon overruling the will of tho people , who "elect what they intend to be their " representatives to congress. 5, Because the president, after Issu- ing a loud warning' to all his officeholders to, keep out of politics during tho cam- s nalgn, is tho principal .and worst violator of his own rule. 6. Because the president was not honest in his answers to, Mr. Bryan. 1. Because the president has creat- ed or attempted to create a crown prlnco. 8. Because we believe in guarantee of bank deposits. 9. Because 01 the hypocritical atti- tude of the republican platform on pub- - llcity of campaign contributions. . We shall vote for a democratic gov- ernor because in case a kind Providence should remove one or both of tho "dead ones" occupying the New York seats in . tho United States senate wo want demo- , crats appointed who will assist Mn Bryan. " We shall vote for democratic mem- bers of the legislature for the same rea- son. And we shall vote for democratic .. congressmen. . THOMAS W. ENDICOTT. , New York, September 30. 0 - ' ) i) -. ' - & v. il . .-..-