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The Commoner.
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"A Record Not a Prospectus
99
Ono of tho commercial agencies issues every
your a pamphlet entitled, "A Record not a
Prospectus," In which it gives tho business sit
uation during the year. The title of this little
pamphlot is appropriated at this time because
it is a fitting description of the session of tho
legislature which has just closed. This legis
lature was democratic the ilrst democratic
legislature in the history of the state of Ne
braska. The democrats and populists together
have controlled somo of the previous sessions
of the legislature, but, for tho first time, Ne
braska has a democratic governor, a democratic
state senate and a democratic house of repre
sentatives, and the domocrats of Nebraska are
proud of tho record which has been made.
First, the house of representatives adopted a
plan by which the committees were selected by
caucus rather than by tho speaker. This was
in harmony with tho plank of tho democratic
national platform which denounced Cannonism.
Tho domocrats of the national house of repre
sentatives are on record as protesting against
tho present method whereby the speaker be
comes a despot and obtains control of legisla
tion by his appointment of the committees. Ne
braska has commenced a reform which ought to
spread throughout tho country and revolutionize
parliamentary methods at Washington.
Second, House Roll No, 1 embodied the Ore
gon plan for the election of senators by direct
vote of the people. Jt passed the house and
senate by practically a party vote and was
signed by the governor. It .inaugurated reform
number two and an important reform it is.
Hereafter candidates -for the legislature will
have an opportunity to promise to support the
senatorial candidate receiving the largest num
heivof votes in the state, and they will find it
to tho r advantage to sign such a pledge. This
will glyo to the people of Nebraska the oppor
tunity they have long coveted to secure the pop
ular election of Unitod States senators. If the
legislature had dono nothing else, this measure
alone would have justified the session. and been
full compensation for the cost of tho session.
Mr. Bryan began noarly twenty years ago to
advocate the popular election of senators, and
ha, t5!? reC,rd this step which Nebraska
TifiirVard more resPlve government.
lhe third reform was tho enactment of the
measure providing for the guaranty of bank
deposits. This reform was promised hi the dem-
S10 ,n?,tl0l,al plfttform and endorsed in the
state platform. In passing the bill the leg s
laturo has kept faith with the people and one
can not read the bill without recognizing that
vides CVT ? a Pmmnty frnVbu! Pro
vides for tho best system of regulation tn ho
found in the United States. Among the meri
torious features of the bill, so far a ? regulaUon
s concerned, are two which are I racticaflv new
Sftmi rIat,l0U is GstbHshed b tween the cap!
ital and surplus, on the one hand, and the loans
on the other. No bank is allowed to loSS Z
than eight times its capital and su?p us ThK
provision will prevent the accumulatiSn of Inr
mow deposits upon a narrow basis of cani?ai
and surplus. Oklahoma put such a provision In
seldom Invoked, aWi en ?nvoS throat,
upon thoonicial who violate, (C w SSy
The Nebraska law collects n fnmi
In ,any yea?. While th 2 ffiV"0 per cont
vo t,ll5 security tauT. l?LlV
unnecessary fear among the stockholders, of .the
banks.
The essence of a guaranty law is that ALL
OF THE BANKS SHALL STAND BACK OF
EACH BANK, and this is the system inaugurat
ed in Nebraska. It is only in extraordinary,
cases that the emergency assessment will be re
sorted to, and the cases will be still more rare
when more than ono per cent will be necessary.
Even in such an emergency, should it arise, the
depositor Will not lose his money but will simply
suffer a delay in payment, but as his claim will
draw interest, he will not suffer any actual loss.
In the inauguration of this system for the pro
tection of depositors; Nebraska has taken a long
step in advance and the democracy of the state
may well point to this law as a justification
of tho confidence reposed in the party at the
last election. Mr. Bryan introduced in con
gress, more than fifteen years ago, a measure
substantially like the one which has just been
adopted by the legislature, and 'the readers of
The Commoner will pardon him if he expresses
great gratification at the final adoption in Ne
braska of this far-reaching reform.
The fourth reform measure adopted by the
Nebraska legislature is embodied in a law Which
compels the publication of campaign contribu-
ueiuru me election. Thin m,,,,
i -- lMVUMUAJ
tions
carries out the nlank of tha inaf 0mi
ocratie Platform on this subject and crystallizes
into statute the growing sentiment in favor of
honest politics. It need scarcely be added that
Mr. Bryan is pleased to see the democratic
legislature of his home state fulfill this plat-
poimes. ge and leading the y t0 Purer
nJ pViidln? ,r thQ PPular election of sen
ators, Nebraska' is second to Oregon: In nro-
ingi fforne guaranty of .banks, NebriskS is
second to Oklahoma; .inje matter o publicity!
so far aS information Has reached this office,
Nebraska takes th,p lead,, as she does in reject
ing the offer of Mr. Carnegie to pension univer-
bonds.1" SrS 'Vlth the prCeeds of steel trust"
Nebraska also takes her place in the front
rank in regard to the teaching of the duties Sf
citizenship. The regents of the state university
are commended for the emphasis they have
Placed upon the courses that deal with thS
science of government, political economy and
metdeT SCh01 f citizenP M
Other notable measures of trpnurni ntc.
and carrying with them imortaS rotorms were
passed by the Nebraska legislature A HsTo?
these measures is printed in this issue for thl
benefit of Commoner readers'
NEVADA GETS THE &IULE
eleionldffiCnOUonflyfi'oVada' made' in th "08
eol f'f'JZ' meralda
Bridgeport, Belmont County, Ohio Edit,
w ?e gain in Belmont county in tl
port Wnt democratic inthf w ', 3;, BrlJee
preclriets ,ot four 8ivinE a nJle?,Uon.- throe
Bryan. 1 understand thta t aiolty to Mr.
Ms gone democratic fa fifty iha "' tlmo
contempt of court vetTZl ?n $pmJ0 ia"
by jurywhon req, 'este IteLj? trial
Npw as to.. th,Ifut!,?o,t0Il,m?nkbyth,ee,eCs0tUS
VOLUME. 9? NUMBER n
would be, besides getting up permanent clubH
let every reader of The Commoner get at least
five new subscribers which should be very o-wv
at the reduced club rate, and the more rermb
ican subscribers the better; the great trouble
is that the voters do not think enough, esne
cially the working class; they go along and vote
for the same old party and never stop to think
which party offers them-the' best inducements
Very truly yours,
' J. A. MORRIS.
DEMOCRATIC CHEER
From'ail sections of the country Champ Clark
the democratic leader in the house, is. receiving
words of cheer. The Pulilic, Louis F. Post!
paper, says: SL''
"Champ Clark's leadership in this democratic
emergency g ves great promise for the future.
Nothing could be more encouraging, for in
stance, than the virtual reading out of the party
of the members who at this juncture have taken
orders from the corporations against the prin
ciples and -declarations of their party and the
action of its congressional caucus. If that
policy, had been adopted and faithfully pursued
in the past, the democratic party would be in a
better state of organization today. It might
have been temporarily smaller but it would have
been faithfully democratic. -As it. is, the cor
porations, controlling the 'major influences in
the republican party, control also minor ones in
the democratic party, ;and are thereby able, . in
spite of. democratic opposition and as in the
present instance, to maintain their own power
which depends in paTt upon their demoralizing
the democracy. Because a minority in- the dem
ocratic party obeys them enough of a minority
to offset, the revolt of democratic republicans
the unthinking, inspired by the crooked, hold
the whole democratic party responsible for cor
poration triumphs. By virtually expelling, from
the .party the corporation' ctempcrats in congress,
the, democrats whom Champ. Clark leads have
set an example which Is, fun,of democratic cheer
for.the future of the democratic parly."
- --i- ' -. : V.; ..,,
, ; A,. "business?! ADivnOTSTMTio. j:! ;:
It is the boast of republipan leaders. that. theiri
party may ever be depended uponv'tougivo.vJthe
people, 'a business administration. Let Rep
resentative Tawney, republican, chairman .of the
house committee on appropriations, take the
stand. In his review of the republican party's
extravagance, which review was made public
March 4, Mr. Tawney said.: .
"Appropriations for public expenditures-are
made upon estimates rubmitted by the execu
tive departments of the government at the be
ginning of each session of congress. The ag
gregate amount of these estimates for appro-
Fni tthMfldU?ng th Past eight years, includ
ing the fiscal year 1910, equals the enormous
sum of $7,291,341806.29. U on th e e ti
rifr. S88 na3fl appropriated during . that
$28 1602 622SUmT.fH$7'7?839'183-46' being
ThS UeS8,thl? fhe amount estimated.
w 11 VIthhlch our national expendi
tures have been increasing during the neriod
referred to is shown by the total appropriations
for the fiscal year 1903, which were $79 b??
mary causes leading to ttis result hovobri!"
!net,'Sr07apIeaac,ed-.UnneCe?SaTy .--SS
3VIR. TAPT'S COKPORATION SUPPORT -V
Mb ap0,intment. goneraY liuSsel to, o? thfch9'
against needed regulation. s"esest a bias
