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The Commoner.
WILLIAM J. BRYAN, EDITOR AND PROPRIETOR
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VOL. 12, NO. 18,
Lincoln, Nebraska, May 10, 1912
Whole Number 590
The Game Exposed
Tho campaign for the nomination has now
progressed far enough to enable the democratic
voters to know the methods that are being em
ployed by the Wall street crowd to capture tho
Baltimore convention. Mr. Harmon and Mr.
Underwood are the reactionary candidates. The
predatory interests are quite indifferent as to
which of these gentlemen is nominated. Mr.
Harmon was picked out first, but "big busi
ness" began to smile upon Mr. Underwood as
soon as it became evident that Mr. Harmon was
not making headway as a candidate. They .have
now divided up tho territory in which they think
a reactionary has a chance, and Mr. Harmon is
running in a few states in the north, and Mr.
Underwood in six states in tho south.
In the north, and in Ohio, the democrats are
appealed to to vote for Mr. Harmon as a matter
of state pride; but Mr. Harmon's delegates, if
they are reactionaries at heart, will be at the
disposal of Mr. Underwood when Mr. Harmon
is out of the way; and Mr. Underwood's dele
gates will be equally at the disposal of Mr. Har
man except the delegates from Alabama, who
are so tied up that they can not be delivered to
anyone else. In Florida, the Harmon men have
been leading the Underwood fight, and appeal
ing to southern pride on behalf of Mr. Underr
w.ootT aTs a'southern man.
There could bo no clearer case of bad faith,
and the fact that such methods are resorted to,
ought to convince any fair-minded man that the
reactionaries are not expecting to win by an
open, honest fight, but by deliberate deception.
A reactionary would find it impossible to win
at a time like this, when so large a majority
of the people are progressive; but the chances
of a reactionary candidate would bo still fur
ther weakened, if he were nominated as a re
sult of a combination between a few men run
ning in different sections on local sentiment.
Governor Harmon and Mr. Underwood are
working both sides of the street, but their tac
tics are becoming so well known that they can
not hope to continue much longer oven the small
success that has attended their efforts.
WATCH THE LORIMER CASE
Congress ought not to adjourn until tho sen
ate acts on the Lorimer case. Senators who
desire to reflect public sentiment in their offi
cial conduct ought to resist every effort at adT
journment until the senate acts upon the Illi
nois senatorial case.
CONTENTS
THE GAME EXPOSED
- REVIVING A GOOD PLAN
BOSSES AND LEADERS
A BEAUTIFUL TRIBUTE
ANOTHER DEMOCRATIC REFORM
REAL INVESTIGATION OF THE
MONEY TRUST
ROOSEVELT-TAFT FIGHT
METHODISM AND THE REPUBLICAN
ADMINISTRATION
FOR AND AGAINST THE COMMONER
EDITOR
WANTED A MAN
DOOLEY ON JUDICIAL RECALL
PRACTICAL TARIFF TALKS
HOME DEPARTMENT
. WHETHER COMMON OR NOT
NEWS OF THE WEEK
WASHINGTON NEWS
MR. BRYAN'S THANKS
To the Democrats of Nebraska: I bog to ex
press my deep appreciation of tho loyal support
given at the recent primary to other progressive
delegates for delegate as well as to myself.
Engagements mado before tho fight opened up
kept me out of the Btato during tho closing
days of tho contest but you did not need me.
You vindicated anew Nebraska's right to stand
at tho battle front. Yours truly,
W. J. BRYAN.
CAN UNDERWOOD EXPLAIN?
Alabama instructs hor delegation to vote for
Underwood "until a nomination for president
shall have been made." ' Will Mr. Underwood
please explain these instructions? Wore they
given with his consent or over his protest? Ho
owes his distinction to Speaker Clark and yet
ho can not help his benefactor. Clark might
be within a few votes of a nomination and yet
Mr. Underwood's delegation is powerless to
assist him. Did Mr. Underwood purposely tie
the hands of his delegation to keep them from
supporting Clark?
Or was ho afraid they would support Wilson?
Is his delegation really against him? And was
it manacled so that it could not assist any one
to whom Underwood is opposed? Or were his
people afraid to trust him? Did they adopt tho
instruction to keep him from turning tho dele
gation over to Harmon?
Here are three questions and The Commoner
indorses the third. Mr. Underwood may have
favored such instruction either to have an ex
cuse for not giving the delegation to Clark
or to keep it from going to Wilsonttbut it ,1s
more' likely' tiratttfo'domocrats of Alabama
adopted these iron-clad instructions to keep the
delegates from being delivered to Harmon.
Alabama is not a reactionary state; her demo
crats instructed for Mr. Bryan in 1908 in spite
of the reactionaries, and tho democrats of
Alabama, while willing to compliment one of
her sons, were not willing to assist in nominat
ing Harmon. She probably preferred to sit on
tho fenco and take no part in tho nomination.
Will Mr. Underwood explain?
A RUMOR DENIED
No. Mr. Bryan will not be a compromise
candidate beforo the republican convention. It
is true that he is more progressive than Presi
dent Taft and less dangerous than ex-President
Roosevelt, and It Is probably true, also, that the
president and tho ex-president would each
rather see him president than the other but he
feels under no political obligations to either one
of them and is willing to let them fight out their
differences even if It splits the republican party.
WHY NOT ASK WALL STREET?
Those who are urging Underwood as a south
ern man ought to know that it will hurt the
south to have its candidates defeated as he will
be if he is a Wall street man. There are many
available candidates in tho south, Hoke Smith,
Ollio James and Senator Culberson, for in
stance. Why not one of them? Why ask Wall
street?
WATCH ELECTION OF SENATORS
Congress ought not to adjourn until election
of senators by the people is disposed of. The
public Is anxious for congress to do something
on this subject and the people will uphold every
reasonable effort on, the parfof the members of
congress to force action on this great reform.
Mr. Bryan advised the democrats of his vot
ing precinct to pair off and make the vote be-'
tween Clark and Wilson as nearly even as pos
sible. The vote, when counted, stood 19 for
Clark, 16 for Wilson and 2 for Harmon.
The special interests In Nebraska will prob
ably let politics-alone for awhile at least they
ought to. Nebraska is not a good state in
which to make a fight for plutocracy.
Reviving a Good Plan
Mr. E. C. Jones, of Now York, a Broadway
banker, has issued a pamphlet In which ho re
vives and dofends a plan for imparting elas
ticity to tho currency. A similar plan was pro
posed some twenty years ago by Tom L. John
son, then in congress. Tho Commoner has al
ready indorsod tho principle involved, namely,
the use of government bonds as socurlty for
loans mado not to national banks only, as now,
but to anyone who happens to hold them. "This
kind of elasticity saves interest to tho govern
ment, (loaning to national banks does not) it
saves interest to tho borrower and does not In
crease Wall street's control ovor tho money of
tho country. That Is tho reason why Wall
street does not tako to It kindly. Tho Aldrich
plan is in the Interest of Wall street and Wall
street control. Mr. Jones has tho following to
say in regard to breaking Wall street monopoly
of the currency issuo:
Tho substance of this plan is that tho right to
receive note to circulate- as monoy secured by tho
deposit and pledge of United States bonds Hhall
not bo limited to national banks, but Hhall bo
conferred upon any person who owns United
States bonds.
Why should John Brown, because ho Incorporates
himself as tho John Brown National bank with a
capital of .$100,000 bo allowed to get (100,000 in
currency from tho government on tho deposit of
government bonds to that amount when John
Brown as an individual, or as the John Brown
Dry Goods Co., or tho John Brown Plow factory,
or tho John Brown Trust Co., or tho John Brown
State or , Savings . bank can not dor ho, upon,-, tho
pledge of the samo bonds7
Tho only answer to this question is that practi
cally tho exclusive right to Issuo notes to circu
late as money is conferred by Jaw upon national
banks for reasons which arose out of tho civil war.
These reasons were the desiro for a uniform cur
rency controllable In amount by tho national
government and recelvablo for taxes by tho na
tional treasury; tho creation of a permanent
market for a largo amount of United States bonds
and tho consequent Improvement of tho national
credit; tho creation of a large number of llnanclal
Institutions under national control widely dis
tributed over tho country which could servo as
depositaries for government funds and act as fiscal
agents of tho treasury and distribute bonds to
subscribers; and tho increased guaranty that in
future thero would bo fewer banks capable of
furnishing credit to rebellious states.
. Tho necessity for tho creation of a market for
bonds through tho medium of national banks no
longer exists. Tho preservation of tho system of
national banks as government depositaries and
fiscal agents of tho treasury Is not depondent on
their exclusive privilege to Issue notes secured
by United States bonds and tho uniformity of tho
currency will bo equally safeguarded under the
proposed plan of tho Issuo of notes to any person
or corporation upon the pledge of United States
bonds. Tho security behind the currency In either
case is exactly the samo and if tho national bank
currency Is now good tho samo currency will bo
equally good when Issued In exchange for United
States bonds deposited by an individual or a trad
ing or manufacturing company.
Theoretically state banks have tho right to Issue
notes to circulate as money In accordance with tho
varying requirements of tho laws of tho different
states. Prior to the establishment of the national
bank system they exercised this right. Tho system
was bad because of Its lack of uniformity and tho
resulting inequality in the value of the notes.
Congress rendered tho exercise of iho right to
issuo notes by state banks practically impossible
by Imposing upon such notes a tax of 10 per cent
per annum. Under the proposed plan state banks
as well as national would be put on tho samo
status as any Individual or trading or manufac
turing company all would have tho samo right
to secure currency upon the pledge of United
States bonds. t
PLAN
This system of currency could bo worked out
In practical form by having congress enact a law
making tf.ll United States bonds convertible into
currency and reconvcrtible into bonds under tho
following plan:
1. Any person, firm or corporation may deposit
bonds In any amount with any sub-treasury of tho
United States and receive In lieu thereof circulat
ing notes to the amount of tho face valuo of tho
bonds so deposited.
2. Any person, firm or corporation may at any
time return to any sub-treasury any such circu
lating notes in amounts of $100 or any multiple
thereof and receive In exchange th6refor bonds
to tho amount of tho face value of the notes so
returned.
3. Interest on tho bonds shall cease while tho
circulating notes are outstanding -but shall com-
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