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OCTOBER. ,16, 19 OS
The Commoner.
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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
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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
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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." .
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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.
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- 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.
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( 'JdHISFATVniiY DISCUSSES POLITICS
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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.
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