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JULY 1, 1910
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bo placed In state and national banks in the
communities in which the deposits are made
and the banks are to bo required to pay two and
one-fourth per cent interest. Five per cent
of the total deposits is to be held by the treas
urer of the United States as a reserve to guar
antee the payment of depositors. Banks are to
be required to deposit security in the shape of
public bonds to secure the safety of deposits.
There is a provision authorizing the withdrawal
of thirty per cent of the deposits for invest
ment in government bonds, and depositors aro
permitted to transmute their deposits into bonds
when they so desire. There also is a special
provision, authorizing the investment in bonds
of the remaining sixty-five per cent of the sav
ings funds, but this step is to be taken only
when direoted by the president in the interest
of "the general welfare. Postmasters in fourth
class offices are to be given additional compensa-?
tion for their services in connection with the
depositories and postal savings accounts in the
banks are to be kept separate from all other
accounts. One hundred thousand dollars is ap
propriated to carry the proposed law into effect
and to establish the first of the depositories. It
is expressly declared in the bill. Itself that 'the
faith of the United" States Is solemnly pledged
to the payment of the deposits made in postal
sayings depository offices, with accrued interest
thereon as herein provided..' "
tvTOLITIC ALT ARTIES 5f Tomorrow," is the
JL title of an interesting article printed In
the Richmond (Va.) Times-Dispatch. The
Writer of this article says: ."The life of a po
litical party follows the same course as the life
of a man. Feeble In its theories, weak in its
policies, and uncertain of itself, every party
-has to pass through a period of infancy. Then,
gradually, as it learns its power, it gains
strength. It. waxes mighty; it achieves great
victories; it reaches its summit; it grows con-
1 fideht of its stability, and then it begins to de
cline. Gradually its followers desert it, grad
ually its leaders lose their skill, until it totters
and falls. American history' id filled with the
biographies, so to speak, M such parties. The
-'federalists, founded by Washington and orgaii-
L ize'd by Hamilton-, had their period of youthful
vigor, tlieir period of full strength, their period
of decline, and finally tlieir political death in
the era' of good feeling. The whig party, which
sprang from the old federalist party, and num
bered among its followers some of the greatest
minds of America, had its rise, its glory and
its decadence,, until it, too, died when sectional
issues rent America. The American party, born
with the death of the whigs, had its brief career,
flourished, won its victories, weakened, died and
was forgotten. With these three parties might
be numbered several of lesser fame powerful in
their day and turning the whole cycle of politi-
cal usefulness, but passing in turn and disap
pearing forever."
I' N THE OPINION of this same writer, "it be
gins, to look as though the republican party has
reached the zenith of its power and is begin
ning to feel its approaching end." This writer
adds: "Its old-time leaders are sickening of
the fight, its ablest men are in despair, and
within its ranks there are discord and discon
tent. Already the progressives have organized
themselves and have practically assumed a new
party name, and but a few days ago there came
vague rumors of a new party, formed among
"former republicans, but aiming at the over
throw of the men in power. With the
passing of the republicans, there has been
the rise of the socialists. They have been
poorly led and their own dissensions have
weakened them when they should have been
waxing stronger every dayi but they must cer
tainly be numbered among the forces of the
future. When their vote has passed the half
. million mark and when they are gaining in
municipal and state elections all over the coun
try, only the opportunist can laugh at them,
and only the blind can fail to see their menace.
Between these two parties the declining re
publican party and the growing socialist party
stands the democratic party. It, too, must
follow the course of all its predecessors and
must have Its full cycle of life, but as yet it
la in the full prime of its strength. The prin
ciples for which it stood In its youth are the
principles which will saye the country today,
and the fields on which its greatest victories
hkve been won are the fields on which the bat
tles of tomorrow must be fought. It Is between
the three forces represented by these parties,
if not between the parties as thoy now exist,
that the political future of the country depends,.
There will always be conservatives men who
mark time and never advance to meet condi
tions as they are and there will always bo
radicals, quick to seize on new devices, always
ready to avail themselves of every trado wind
of political prosperity. There will always be. a
great body of reasoning men, midway between
these extremes, upon whoso decision the fate of
this government will rest. The republican
forces, by whatever name they may bo called
in the future, will be the conservatives; the
socialists will be the radicals and the demo
crats will be the moderates, holding, perhaps,
the balance of power, and holding certainly
the surest position. Upon the party of the con
stitution, the constitution will depend, ami upon
the loyalty of democrats today will depend tho
stability of democracy tomorrow."
AN IMPORTANT move in aviation. Is de
scribed in an Associated Press cablegram
from Dusseldorf, Germany, in this way: "The
first regular airship passenger service was in
augurated today when Count Zopplln's great
craft, the Deutschland, carrying twenty passen
gers, made its first scheduled trip from Freid
richshafen to this city, a distance of 300 miles
in nine hours The weather was perfect and
the motors worked faultlessly. The average
time maintained for the complete course was
approximately thirty-three miles an hour, but
between Frledrlchshafen and Stuttgart the 124
miles was covered at an average rate of forty-one
miles an hour. The best speed for a single
hour was forty-three and one-half miles. Count
Zeppelin was at the holm when the Deutschland
left Freldrlchshafen at 3 o'clock this morning
and sailed away on tho trip that was to mark
an epoch in aviation. The passengers were
gome of the directors of the Hamburg-American
Steamship company and tho German Airahip
Stock company, joint owners of the dirigible,
and guests. They occupied the Mahonoy walled
and carpeted cabin, situated between the gon
dolas, and from the windows of which they
viewed the scenery as the aerial car swept along.
Count Zeppelin stood for the greater part of tho
distance. The route was via Stuttgart, Mann
heim and Cologne to Dusseldorf. It had beon
carefully maTked out in advance for the guid
ance of the pilot and was followed exactly.
There was no nir stirring and the Deutschland
made her way unhampered through arflood,of
bright sunshine."
TJIE DIARY OF A DEFENDER
The New York Evening Post, a paper that
supported Mr. Taft for the presidency, prints
"The Diary of a Defender" as follows:.
May 1, 1912. At St. Paul. Thought on get
ting up that this was my day for defending
Hitchcock. Carpenter reminded mo it was Bal
linger's turn. Spoke to 13,000 persons on tho
value of tho northwest to the union, and assured
them that no brighter star than R. A. Balllnger
had ever come out of the west a veritable
Lochinvar. He had stuck to me through thick
and thin, and I have stuck by him no matter
what yellow weeklies and others may think.
As for Wickersham's easy going ways about
a little thing like a date, I said that this only
showed the bigness of the man. Saw St. Paul
defeat Toledo 7 to 6. Nothing like the national
game.
May 2, 1912. At Chicago. Today I defend
ed Philander good, brave old Philander! Told
ray auditors what a true, kind friend he had
been and how disgusted I was that the news
papers continue, in their shameful ignorance,
to abuse him. Made this also a "double-header"
speech day by denouncing demagogues and tho
reckless press. Had intended to save this for
Milwaukee. Can understand now why T. R.
founded tho Ananias club.
May 3, 1912. Milwaukee. Had meant to de
fend Hitchcock today, but something in a morn
ing newspaper led me to say a kind word for
Wickersham. Declared he was not trying to
be political boss of New York, or going to sell
the Philippines to the trusts, and denied that
he wrote decisions to please the administration.
That his opinions always coincide with my
wishes Is due merely to the fact that I think
In terms of law more than some presidents
can say. Admitted ho sometimes arranged dates
on public documents with kind hearted free
handedness. May 4, 1912. St. Louis. Hitchcock's turn.
"A fine, able administrator first who works until
daybreak every night," politician only second.
No matter if ho did get me my nomination, h
Is a good one,'
May 5, 1912. Cincinnati. Had meant to
defend mysolf today against tho newspapers, but
a slur on tho Payno-Aldrich tariff this morning
made mo mad. Explained that tho Payno-Aldrich
tariff was tho best tariff over passed. De
fended tho republican party from tho charge
that it had not kept its campaign pledges; point
ed out that tho platform did not specifically
promlso downward rovlslon. Why will people
forget this? I thought I had talked enough
against it. Saw Charley's nine trounco tho Now
Yorks,
May 6, 1912. Louisvillo, Defended Aldrlch
because, oven if ho is in rotiroraont, ho worked
hnrd for me while senator. Reminded tho poo
plo that during tho worst of tho Insurgency in
1910 my best frionds and supporters wore Aid
rich, Kcan, Lodge, Elkins and Halo, a bravo
man, loyal old guard. Told them I was satis
fied Mr. Aldrlch's work for tho monotary com
mission would immortalizo him. Louisville 8,
Kansas City G.
May 7, 1912. Sprlngfiold, 111. Took tho lib
erty of telling the pcoplo of this stato that suffi
cient justice had not been dono to ex-Speaker
Cannon, a splendid watchdog of tho treasury, a
roal rock-ribbed republican, who made congress
efficient. In many aspects llko Lincoln, notably
in his courage and rofusal to know when he wa J
defeated. Spoke before tho Fifth Ward Clam
Chowder Club.
May 8, 19x2. Buffalo. Defended my ap
pointment of. Governor Hughes to tho supreme
bench. Buffalonians still growling because I
took him out of politics. Let .them know
straight from tho shoulder that this was tho
best appointment I over made.
May 9, 1912. Albany. Defended my posi
tion on the income tax, aB proposed in 1910.
Showed wherein Justice Hughes was wrong.
Visited tho fair for indigent inebriates.
May 10, 1912. Now York. Defended my
railroad legislation of 1910. Agreed that It was
not all that I had hoped for, but, like the
Payne-Aldrlch tariff, was the best railroad legis
lation ever passed by the republican, or any
other party. Boston 3,. New York 0.
May 11, 1912. Trenton. Defended my whole
cabinet. Decried this constant criticism by an
irresponsible press, by demagogues, etc., otc.
May 12, 1912. Philadelphia. Defended my
conservation policy. Donied that the interior
department had any intention of making a pres
ent of the Cunningham claims to J. P. Morgan
Knox is taking care of him. Philadelphia 4,
Washington 2.
May 13, 1912. -Homo again. Defended the
Washington baseball team. Boston 13, Wash
ington 1.
June 1, 1912. Off on another educational
tour. Defended Wickersham today at Rich
mond. Why make a fuss over calling September
2C September 11?
June 2, 1912. Atlanta'. Defended tho
statue of Robert" E. Lee and Hitchcock.
Juno 3, 1912. Savannah. Defended the
Payne-Aldrlch tariff before the Society for Pro
viding City Flowers.
June 4, 1912. Charleston. Defended the re
publican party and the income tax.
June 5, 1912. Wilmington, Del. Defended
Philander Knox. A better man than Zelaya in
every way. One of Pittsburg's finest products.
Does not make any difference if our South
American trade has gono all to pieces Knox Is
Root's equal.
Juno 6,. 1912. Philadelphia. Philadelphia 3,
New York 1. A good word for Balllnger before
the Golden Sunshine Society of Modern Mothers.
June 7, 1912. Washington. Defended tho
good old protectionist party. Admitted that I
used to be a free trader when in college, and
that I had often admitted that protection meant
paying certain manufacturers out of the treas
ury, but it is a system that has saved the na
tion more than onco. Tho best tariff bill ever
passed is tho Payne-Aldrlch tariff; thanks to
that great man, Nelson W. Aldrich.
June 10. Knox.
Juno 11. Cannon.
June 12. Aldrlch.
, Juno. 13. -Hitchcock. .
' June 14. Balllnger.
June 15. Wickersham.
June 16. New York 3, Wahington 1.
The American Homestead, a monthly farm
journal of national scope, will bo sent to all
Commoner subscribers, without additional cost,
who renew tlieir subscriptions during the month
of July. Tako advantage of tfiis oifer at once,
and send in your renewal.
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