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VOLUMB 10, NUMBER f
6
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The Commoner.
ISSUED WEEKLY.
Entered at tho PoHtodlco r.t Lincoln, Nebraska,
an Bccond-clnHti matter.
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Kdltor rind Proprietor
RlUIIAIIII I MHO-CAM'!'.
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THE COMMONER, Lincoln, Nob.
ing goods from Now York to tho Isthmus in
govornmont stcamors and across tho Isthmus on
tho Panama railroad. Tho division of the rate
was on a basis of. 50 por cent prior to Mr.
Dlckluson's advent as socrotary of war.
TROUBLE IN CABINET
Washington dlspatcii to tho Chicago Record
Horald: As might havo been expected, tho
latest dovolopnionta in the Ballingor-Pinchot
controversy, especially tho involvement of Secre
tary of Agrlculturo Wilson in it, havo started
frosh rumors of friction in tho cabinet. One
of tho rumors puts Secretary Wils&n on tho list
for oarly resignation, but according to tho best
information to bo gleaned around tho White
Houso this particular roport is without founda
tion. Thus far President Taft has shown no
disposition to doubt tho integrity of his secretary
of tho intorlor as a result of tho testimony taken
boforo tho congressional investigating commit
too, and ho sees nothing in yesterday's develop
ments, Including tho testimony of his secretary
of agriculture, to causo him to lose any degree
of confidence in tho latter official.
EMBARRASSING, OF COURSE
Mr. Pinchot testifies that Secretary Wilson
practically approved of Mr. Pinchot's action In
writing his famous letter to Senator Dolliver
Secretary Wilson vigorously denies the charge
and asks whether it is reasonable to believe he
would authorlzo an attack upon the president
Of course it is all very embarrassing, particu
larly when Mr. Wilson is a member of tho presi
dent's cablnot and at tho same time an intimate
porsonal friend of Mr. Pinchot. It is not how
ovor, of tho highest importance. The nuestion
"Why does Mr. Taft retain Mr. Balling ?r his
cabinet?" is far moro important than tho Wilson
Pinchot controversy.
WIIY NOT NOAV?
Senator Aldrich says that ho could run tho
government on throe hundred millions a year
loss than it now costs. Well, why does ho not
make the reduction? Ho is "running" the kov
ernmont now. b v
All new and renewal subscribers to Tho Com
moner during tho month of March will rccSvo
a year's subscription to Uio national farm paper
SSnJIOn?ln Homcatea. without ottUtfonfi
charge. Give your friends an opportunity to
join you In nccontbin. t.iiia r- u "" ro
4. "O . f AAl&
Y
The Commoner
A FAKE POSTAL SAVINGS BILL
Washington dispatch to tho Chicago Tribune
(republican): "It is asserted on excellent au
thority that congress is prepared to pass a' postal
savings bank bill which will not be constitu
tional, in tho hope that it will be knocked out
at an early date by the supreme court. Such a
determination rests not with the men who have,
up to this time, been favorable to tho postal
savings legislation, but with tho new supporters
who have been swung into line by the demands
of tho president that such a law bo passed. This
latter element includes, first of all, Senator Aid
rich and those associates of his in tho
senate who are known to be thoroughly
opposed to tho postal savings bank as a
part of tho country's financial structure. Aid
rich has given tho president assurances that the
postal savings bank bill will bo passed, and it
is known now that this legislation will be enact
ed at no distant date. The situation as to
the postal savings bank is therefore, that tho
controlling forces will unite in passing a bad
bill, instead of settling down to an honest effort
to enact a' good measure that will hold water
in tho courts and insure a permanent institution
of savings in connection with the federal post
office machinery."
POSTAL SAVINGS BANK BILL PASSED
Tho senate passed the postal savings bank
bill March 5 by a vote of 50 to 22. The Asso
ciated Press report says:
All the negative votes were cast by democrats,
even Mr. McEnery, who had voted with the re
publicans throughout tho consideration of the
bill, in the end joining his own party. Senator
Chamberlain of Oregon, was the only democrat
who stood with the republicans in favor of the
bill.
As it goes to the house, the bill authorizes
the various money order postofflces to accept
sums of one dollar or more from depositors, and
to deposit these sums in the local banks, where
the money is to remain unless withdrawn by
tho president in case of war or other exigency.
In case of this withdrawal the funds are to be
Invested in government securities, but with tho
proviso that such securities shall not draw less
than 24 per cent interest. The control of the
funds is vested in a board of trustees composed
of the postmaster general, the secretary of tho
treasury and the attorney general. The aggre
gate balance allowed to any depositor is $500
and no person is permitted to deposit more than
$10 in any one month. Tho government is re
quired to pay 2 per cent interest and must
exact not less than 2 4 per cent from the banks,
tho extra quarter of one per cent being required
for tho payment of expenses and losses. It is
calculated that such a law would bring much
money out of hiding and result in a fund rang
ing all the way from $500,000,000 to $1,
000,000,000. Beginning at 11:45 o'clock today, the sen
ate's session continued until 4:50 p. m. and
practically all of the time was devoted to the
consideration of amendments.
Almost immediately after it began the first
vote was taken. This was on the Cummins
amendment to the Smoot provision, upon which
yesterday's debate waged so fiercely.
The Smoot amendment looked to the authori
zation of the withdrawal from local banks of
tho postal funds in case of war or other ex
igency, and Mr. Cummins sought to modify it
by making it apply to war as the only exigency
justifying withdrawals. The Cummins provi
sion went down under a vote of forty nays as
against eighteen ayes, tho affirmative vote be
ing cast by the insurgent republicans and half
a dozen democrats, with the single exception of
Senator McCumber, a stalwart republican.
Later in the day and after considerable de-
muu me omoot amendment was adopted, aftor
it had been amended by the insertion of an
amendment, introduced by Senator Borah di
recting that the funds withdrawn should' not
bo invested in government securities carrying
less than 2 per cent Interest, the rate re
quired from tho banks.
As adopted, the amendment in the shane of
a proviso, reads:
"When in the judgment of the president, war
or any other -exigency involving the credit of
tho government so requires, the board of trus
tees may withdraw all or any part of said funds
from the banks and invest the same in bonds
or other securities of tho United States
Provided, That no part of said funds shall
in any event be invested in bonds or other se
curities bearing interest at less than 2 ner
centum per annum." y
Two other important amendments wore agreed
to today. Ono of these was suggested by Sen-
ator Bailey and would permit the withdrawal
of postal funds deposits by the original depositor
"upon demand," and the other by Senator Gal
linger, specifically including savings banks and
trust companies doing a banking business, among
the banking institutions permitted to accept the
deposits of postal funds.
The insurgent republicans were much elated
over the acceptance of the Borah modification.
They contend that it will have the effect of re
ducing to a minimum the government securities
in which tho postal funds may be invested, and
prevent the national banks from using the funds
to relieve themselves of a class of securities
which are not popular with them. On the other
hand it was contended, especially by Senator
Bacon, that the Borah provision would never
be accepted by the house, and therefore, will
not be a portion of- it when the bill becomes a
law.
Mr. Carter, in charge of the bill, made no
objection to tho Borah amendment. He simply
remarked that it was fair to require the gov
ernment to pay tho same interest required of
the bank and that there was no reason for op
posing. The provision was agreed to, 49 to 11.
The republicans voting against it were Messrs.
Brandegee, Bulkeley, Burnham, Burton, Kean
and Wetmore, and the democrats, Messrs. Bank
liead, Money, Paynter, Rayner and Smith.
The opposing republicans made no explana
tion of their attitude, but Mr. Money, speaking
for the democrats, based his opposition upon
tho theory that an amendment, constitutional
in itself, could not render valid a bill which in
itself was in contravention of the constitution.
Several amendments were voted down, the
most important being one offered by Mr. Owen
of Oklahoma, which was intended as a substi
tute for tho whole bill and which provided for
the establishment of a fund to guarantee na
tional bank deposits along the lines of the state
bank guarantee plan of Oklahoma. Mr. Owen
spoke in support of his provision, again holding
up the Oklahoma plan as a model of banking
legislation.
The sharpest discussion of the day arose over
Mr. Gallinger's amendment, including savings
banks and trust companies in the specific terms
of the bill. It was bitterly opposed by Mr. Hey
burn and in less degree by Mr. Bailey. Mr.
Heyburn went so far as to declare that if this
provision should be retained the bill would be
repudiated by the people.
Mr. Gallinger contended that to include un
certain state banks and exclude the most stable
banks of the country would be inconsistent.
Another amendment looking to a change of
phraseology called out a bitter assault by Mr.
Heyburn. It provided that no interest should
be computed on fractions of a dollar. It was
adopted after extended debate.
A number of democratic senators, including
Messrs. Gore, Stone and Bacon spoke in general
opposition to the measure. The three mentioned
saw in the bill the forerunner of a great central
bank and regarded the legislation as unconstitutional.
THE EVENING PRAYER
In the twilight of my days,
In the evening of the years,
Life unto my saddened gaze
Seems a vision veiled in tears.
All the knowledge fades away
That I vainly thought to keep:
As a little child I pray:
Now I lay me down to sleep.
I have wandered far from Thee
Since that childish prayer I said,
And the lips that taught it me
Have been gathered to the dead:
Yet her face I seem to see
When the evening shadows creep,
And again, as at her knee,
Pray Thee, Lord, my soul to keep!
Softly fades the lingering light:
Lo! the last beam leaves the skies:
And I watch, amid the night,
For the evening star to rise.
Far beyond the bounds of space
I may drift ere day shall break:
Let me see my mother's face
If I die before I wake!
Da, Brows the gathering gloom,
x?!Le my B0U.1 its vlgils keePs
With the memories that loom
Up from Life's unsounded deeps.
When upon a sunless strand
I shall hear the surges break
Ere I near the Nameless Land
Pray Thee, Lord, my soul to take'
Mario Conway Oemler, In
The Independent.
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