The Commoner.
VOCUME fl, NUMBER 5
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The Commoner.
ISSUED WEEKLY.
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Wjixiam J. nnyAM
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THE COMMONER, Lincoln, Nob.
shed except in defense of a right already ascer
tained, and then only when all peaceable means
have been exhausted. The world has made
progress. We have reached a point where we
respect1 not the man who will die to secure some
pecuniary advantage, but who will die in de
fense of his rights. We admire the moral cour
age of the man who is willing to die in defense
of his rights, but there is yet before us a higher
ground. Is he great who will die in defense of
his rights? There is yet to come a greater man
still the man who will die rather than tres
pass upon the rights of another. Hail to the
nation, whatever its name may be, that leads
the world towards the realization of this higher
ideal. I am glad that we now recognize that
there is something more powerful than physical
force, and no one has stated it better than Car
lyle. He said that thought was stronger than
artillery parks, and at last moulded the world
like soft clay; that behind thought was love,
and that there never was a wise head that had
not behind it a generous heart. The world was
coming to understand that armies and navies,
however numerous and strong, are impotent to
stop thought. Thought inspired by love will yet
rule the world. I am glad that there is a na
tional product more valuable than gold or silver,
moro valuable than cotton or wheat or corn or
iron, the ideal. That is a merchandise if I may
call it such that moves freely from country to
country. You can not vex it with an export tax
or hinder it with an import tariff. It is greater
than legislators, and rises triumphant over the
machinery of government. In the rivalry to
present the best ideal to the world, love, not
hatred, will, control; and I am glad that on this
Thanksgiving day, I can meet with my country
men . and their friends here assembled, return
thanks for what my country has received, thanks
for the progress that the world has made, and
contemplate with joy the coming of that day
when the rivalry between nations will be, not to
see which can injure the other most, but to show
which can hold highest the light that guides the
pathway of the human race to higher ground.
(From speech delivered at banquet of the
American Society in London, Thanksgiving Day,
the granite as, in obedience to the law of, gravi
tation, it has gone dashing and foaming on its
path to the sea.
How like a human life! Man, flung into ex
istence without his volition, bearing the race
mark of his parents, carrying the impress of
their lives to the day of his death, being hedged
about by an environment that shapes and moulds
him before he is old enough to plan or choose,
how these constrain and hem him in! And yet,
he too leaves his mark -upon all that he touches
as he travels, in obedience to his sense of duty,
the path that leads from tho cradle to the grave.
But here the likeness ends. The Colorado, pure
and clear in the mountains, becomes va dark and
muddy flood before it reaches the ocean, so con
taminated is it by the soil through which it
passes; but man, if controlled by a noble pur
pose and inspired by high ideals, may purify,
rather than be polluted by, his surroundings,
and by resistance to temptation make the latter
end of his life more beautiful even than the
beginning.
The river also teaches a sublime lesson of
patience. It has taken ages for it to do its
work and in that work every drop of water has
played its part. It takes time for- individuals
or groups of individuals to accomplish a great
work and because time is required those who
labor in behalf of their fellows sometimes be
come discouraged. Nature teaches us to labor
and to wait. Viewed from day to day the
progress of the race is imperceptible; viewed
from year to year, .It can scarcely be noted, but
viewed by decades or centuries the upward trend
is apparent, and every good work and word
and thought contributes toward the final result.
As nothing is lost in the economy of nature, so
nothing is lost in the social and moral world.
As the stream is composed of an innumerable
number of rivulets, each making its little offer
ing and each necessary to make up the whole,
so the innumerable number of men and wotaeri
who recognize their duty to society and their
obligations to their fellows are contributing ac
cording to their strength to the sum total of the
forces that make for righteousness and progress.
(Newspaper article on "Wonders of the West'
referring., particularly to the Grand Canyon of
the. Colorado in northern Arizona.)
"SERMONS IN STONES"
There are "sermons in stones" and the stones
of this canyon preach many impressive ones
They not only testify to tho omnipotence of the
Creator, but they record the story of a stream
which both moulds and is moulded by its en
vironment. It can not escape from the walls of
Its prison and ye.t it has made its impress upon
A', KANSAS BANKER ON THE PROPOSED
CENTRAL BANK
Mr. W. C. Robinson, president of the First
National Bank, Winfield, Kan., who has most
always voted the republican ticket,, has written
to a Chicago bank publication an interesting
letter on the proposed central bank. Mr. Robin
son's letter is as follows:
Editor Chicago Banker: I have been read
ing, with much interest, the talks of Senator
Aldrich, hoping to get from them something as
to his recommendation for the improvement of
our banking system. All I get, and that is large
ly by reading between the lines, is that he is in
favor of a central bank. He has been studying
the banking systems of Europe, and he seems
to think their systems, modified to some ex
tent, is what we must have. It seems to mo
that a central bank is simply the "entering
wedge" to a system having great banks in the
large cities and the balance of the country fur
nished with branches. Some paper remarked
about the senator's visit to Chicago "that it
was his first trip west to stop anywhere in
twenty years." A Kansas City paper published
what purported to be an interview, in which he
said that he had gone west at a certain time
but didn't remember that he had gone through
Kansas City.
It seems to me that a study of the great west
' Its possibilities and its demands might be
as much a factor in solving this problem as a
study of the methods of Europe. This subject
has been before the bankers for many years,
and while we admit that our system is not per
fect maybe inadequate yet I think the ma
jority of the western bankers would much pro
fer some system other han the central bank
Idea, with what must necessarily follow. It will
be very hard to put upon people the idea of so
much centralization as the European theory
would involve.
For every town and community In this; coun
try seems to think it their right to handle their
own business, and it has been proven that they
are able to do it. The "central power" idea
and its influence was threshed out and pretty
well settled at "The Tea Party" in Boston many
years ago, and the same idea, seems to be on
trial now in. what is denominated "Cannonism "
and the "revision of the tariff upward " Tho
verdict may be: "They are right," but I am
inclined to the belief that as far as the west
is concerned, they will be turned down unless
they can be presented much modified.
We hear much of the "panic of 1907." This
was simply a result of "centralized power"
There was no legitimate reason for this panic
other than a fight in New York City between
the banks and trust companies. If the banks
outside of New York hadn't got "scared," it
would never have gotten west very far not be
yond the "centralized" power of the New York
City banks and trust companies. If the New
York banks had gono together and liquidated
the Knickerbocker Trust company (whose assets
were adequate) there would not have been a
"panic of 1907." The Morse and other similar
influences would have soon been eliminated, and
business would have assumed its normal condi
tion. Trust companies could have been put be
fore the people, governed by the same laws, as
to reserve, as national banks, and the unfair
competitive conditions would, thus have been
done away with. There would then have been
no possibility of a recurrence of 1907 conditions.
How would it be possible to keep a central bank
out of politics? Soon the banking business, with
its great central bank, and branch banks, would
be "plums" for political distribution, and the
Individuality of the banking business of this
country would be gone. The central bank idea
surely puts the government Into the banking
business, which is obnoxious to many, and is
one objection made to our present national bank
system. Is there not some other solution to this
problem?
Many people criticise the business methods of
Carnegie and Rockefeller crushing competi
tion. With the central bank and the branch
system, would not our government be doing a
like thing? One of the strongest features of
the banking system of our country is the in
dividuality that It develops. Why not foster
and perpetuate this very desirable and strong
element in our business character? Let us take
from Europe and elsewhere what we consider
good, but we do hot have to adopt their theories
as a whole, especially when, it is repugnant to all
the weil established theories and principles of
our own country.
A prominent London financial paper in dis
cussing the central bank idea, says: "A central
bank could prove eminently successful only, in
the event that the branch bank system be adopt
ed for the individual institutions."
Would this suit the people of our country or
be in harmony with the spirit of our govern
ment? The great central bank would soon
hold, practically, the entire reserve of the banks
of the country. Would it not be subject to po
litical management and therefore subject to po
litical attacks? Would not an attack on the
central bank be an attack on the banking theory
of our country and therefore an attack on every
bank having its reserve so deposited?
Yours truly,,
W. C. ROBINSON,
President First National Bank, Winfield, Kan.
November 16, 1909.
IDEALISM IN BUSINESS
A New York firm issued Invitations to the
cornerstone laying of its new building, accom
panying the Invitations with this. fine sentiment:
"If the store we are establishing in New York
shall do anything to better the condition of
those who shall bo yoked with us in daily toil
it will be a happy furtherance of our ideals.
Of course the store must make money a poor
friend couldn't be the most helpful friend, but
money is not the sole goal. If we can develop
latent talent, If we can encourage known talent;
if we can .keep hard knocks from tho faithful
helpers who haven't ten talents, but just one;
if through proper, kindly and sympathetic
hands we can lift some one from the slough or
despond, ease actual need through making
Belf-help possible; if we can make work nou
the begetters of cheery faces; if we can make
rest hours recreative; if we can be the safe lad
der by which many or even a few young people
may climb to large success; If we can at aii
times impress our organization with the idea or
cleanliness in life and business we shall oe
glad we decided to come to New York." .
And if this firm shall adhere to the splendia
ideal it has laid down the people of New YorK
will be glad that it located among them, ana
the Influence of its good example will be worio-wido.
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