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The Commoner
VOL. 13, NO. 29
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Mr. Bryan's Currency Letter
Tho following letter by Mr. Bryan In support
o tho currency bill was road In tho democratic
caucus by Mr. Glass: August 22, 1913.
Honorable Cartor Glass, House of Representa
tives, Washington. My Dear Mr. Glass: Re
plying to your inquiry, I bog to say that I havo
for many years advocatod a law preventing tho
duplicating of directorates. While tho principle
applies to banks as well as to trusts although,
I thinlc, in a loss degree tho plan has been con
sidered mainly as a moans of dealing with tho
trust ovil; in fact, it Is embodied in tho anti
trust plank of the Baltimore platform. Compe
tition can bo effectually prevented whore the
same mon act as directors of competing com
panies. I am as much in favor of tho remedy
now aB I was when I began to advocate it; In
fact, more so, bocauso recent disclosures havo
glvon further proof of tho employment of this
moans of eliminating competition, but I do not
think it wise to make it a part of the pending
currency bill. In attempting to secure remedial
legislation, caro must be taken not to overload
a good moasuro with amendments, however good
thoso amendments may bo in themselves. A
boat may bo sunk if you attempt to make it carry
too much, however valuable the merchandise.
A bill is usually tho result of compromise; tho
president and Socrotary McAdoo, in conjunc
tion with tho chairmen of the currency com
mittees of the house and senate, have formu
lated a tentative measure. It was prepared after
oxtondod investigation and a comparison of
views. It ombodles certain provisions of great
importance and is, I believe, fundamentally
sound. The provision in regard to the govern
ment issue of tho notos to be loaned to tho
banks is the first triumph of the people in con
nection with currency legislation in a genera
tion. It is hard to ovor-ostlmato the value of
this feature of tho bill. In the second place, the
bill provided for government control of tho
issuo of this money, that is, control through a
board composed of government ofilcials selected
by the president with tho approval of the senate.
rni,t ia nnMhnr dfntinct triumnh for the people,
one without which the government issue of the
money would be largely a barren victory. The
third provision in this bill which I regard as
of the first importance is tho one permitting
state banks to share with national banks tho
advantages of tho currency system proposed.
These three provisions are, to my mind, of
such transcendent importance that I am rela
tively but little concerned as to the" details of
tho bill. I do not mean to say that the details
are unimportant, but whatever mistakes may be
made in dotail can be corrected easily and soon
a wrong step in a matter of principle would
be more difficult to retrace. There are doubt
less differences of opinion over matters of de
tail, and it was to adjust these that the caucus
was hold, but I take it for grafted that no one
who Is really in favor of the bill will permit
a difference of opinion on a matter of detail to
lead him to Jeopardize the bill.
Tho papers have in a few cases reported mem
bers of congress as presenting views which were
alleged to be mine. I do not know to what ex
tent these reports may exaggerate what has been
said and done, but you are authorized to speak
for me and say that I appreciate so profoundly
the service rendered by the president to the
people in the stand that he has taken on the
fundamental principles Involved, that I am with
him on all tho details. If my opinion has in
fluence with any one who is called upon to act
on this measure, I am willing to assume full
responsibility for what I do when I advise him
to stand by the president and assist in securing
the passage of this measure at the earliest pos
sible moment. I am sure that the president
will be ready to join in making any change in
detail that can be made to advantage, and being
sure of his singleness of purpose, I am willing
to leave to future action the correction of any
provision which he may now regard as essential
to the plan and purpose of the bill.
Congratulating you upon the splendid manner
in which you have presented the merits of this
bill, I am, very truly yours, W. J. BRYAN.
The Maine Election
The following comments on the result of the
special election held in Maine, September 8, to
fill the vacancy in the Third congressional dis
trict, are containod in an Associated Press dis
patch from Washington, under date of Septem
ber 8th:
"The Maine election, while disappointing in
tho failure to elect our democratic candidate,
who is a very able and progressive democrat,
is not at all discouraging when we consider the
figures," said Secretary of State Bryan. "The
democratic candidate received within about 100
of the vote cast for the president last fall. This
is a remarkably good showing when we consider
that it was a spocial election. The republican
victory was due primarily to the return of a
large number of progressives to the republican
party. At least tho republican vote gained
something over 6,000, and the progressives lost
that much, as compared with the returns last
fall.
, "The candidate, Mr. Pattangall, in an inter
view, refers to some defections in the party.
There were two c hree local influences which
tended to reduce our vote, but, all things con
sidered, it seems to me that the democratic
vote was as large as could be reasonably ex-
pected, and tho result certainly can not be con
struod as disapproving of the president's ad
ministration or policies."
"Whenever we come within 500 of victory in
Maine tho result is oncouraging for democracy,"
said Secretary of the Navy Daniels. "If anyone
had ever told me 10 years ago that we were
going to come within 500 votes of electing a
democrat in tho republican state of Maine, I
would have said he was a dreamer. It is signi
ficant that in this old Blaine district, where the
duties have been reduced on a great many
articles of the tariff, particularly affecting it,
and where republican attacks have declared in
dustries would be ruined, the democrats polled
an even larger vote than they did in the presi
dential election. Had it not been for democratic
defection as a result of the bitter primary fight,
we. might havo obtained the few votes necessary
to win."
'The result of the election In Maino
was In no sense surprising," said Frank B.
Doremus, chairman of the democratic congres
sional campaign committee. "While we made
a fight there in behalf of Mr. Pattangall, the
democratic nominee, we did not entertain the
hope that he could win unless the bull moose
candidate should run well, which he failed to
do. Tho district is one of the most thoroughly
republican in the nation. Only once during the
past 40 years has it failed to elect a republican
to congress.
"It is the old James G. Blaine district, -and
has always given republican majorities ranging
from 2,000 to 4,000. We think we did exceed
ingly well, in that our candidate, Mr. Pattan
gall, received a vote approximately as large as
that accorded the president last November.
When the fact is considered that this is an off
year, the result can not be construed otherwise
than as an indorsement of the administration.
"Our committee sent several prominent
speakers to the district, and the same course
was followed by the other two parties. Of
course, party treachery probably had something
to do with the result, as is claimed by Mr. Pat
tangall, but, after all is said and done, the Third
district is republican, and a republican succeeds
a republican by a reduced plurality.
"Tho republicans had the federal patronage
of tho district with them, and, in addition, the
manufacturers, who are not certain just what
effect tho tariff will have on them, lined up be
hind tho republican candidate to a man. The
progressives had all the money they needed in
their fight, and so did the republicans."
Tho unofficial vote of the Third Maine con
gressional district at this special election, as
taken from the Associated Press report, was:
Lawrence, progressive, 6,510; Peters, republi
can, 15,072; Pattangall, democrat, 14,555. The
official vote in November, 1912, was: Roose
velt, 13.23G; Taft, 7,159; Wilson, 14,692.
rpi
Possibly it may be moro than a coincidence
that half of the progressive republican vote in
the Third Maine district went back to the re
publican party just as the progressive republi
cans of tho senate (with two exceptions) were
voting to keep the Payne-Aldrich law on tho
. statute books. Not much, progressiveness in
either act.
Q
3
THE COMMONER'S NEW ERA
That The Commoner and its readers
would not be losers, but gainers, by its
publication as a monthly magazine, was
the opinion of -tho Times when the
change was announced. That opinion is
confirmed by the first issue of The
Commoner in its new form. It is a
splendid specimen of achievement. It
unites the literary finish of the first
class magazine with the up-to-date quali
ties, the close contact with current
events, of newspaper journalism.
Probably as difficult a task as Secre
tary Bryan and his coadjutors in The
Commoner office have had, in remodeling
the weekly to a shape consonant with
monthly publication, has been to retain
all the characteristics which have en
deared The Commoner to its constitu
ency, while meeting the requirements of
a magazine. The masterly success with
which this has been accomplished, proves
the earnestness and skill which have in
spired the work. As they turn over the
crisp, ably marshaled and vigorously
written pages, Commoner readers will
feel that they are meeting an old friend
in a new garb.
The leading editorial is captioned
"The New Era." Thereby Mr. Bryan
characterizes the Wilson administration.
But the meaning may be fittingly ex
tended to apply to The Commoner itself.
That publication is entering upon a new
era. That it will be an epoch of signal
prosperity and usefulness, is manifest
from the great influence The Commoner
has wielded ever since it was established,
and the gratifying auspices under which
it makes its entry into the magazine
field. The Buffalo Times.
0
PEACE PLAN
The New York Independent commends the
peace plan of the Wilson administration in the
following editorial:
"Last week Thursday Secretary Bryan signed
with Salvador the first treaty of peace under
the plan which ho has submitted to the nations
of the world. As this marks tho inauguration
of what promises to be one of the great achieve
ments of the Wilson administration, Its signi
ficance should be clearly understood by our
people.
"There are three methods in general practice
by which the nations are accustomed peacefully
' to settle their differences. First, mediation;
second, investigation; third, arbitration. Medi
ation has always been practiced, but it was only
until tho two Hague conferences formulated
elaborate rules on the subject that this method
of conciliation has been perfected. Investiga
tion by means of commissions of inquiry has
likewise been established by The Hague con
ferences. But as we pointed out in detail on
May 1 and July 24, these schemes were far in
ferior to Mr. Bryan's. Indeed it may be truth
fully said that Mr. Bryan has solved the prou
lem of commissions of inquiry, for his com
missions have power, not only to act when in
vited by either party, but to investigate all de
puted questions of whatsoever character.
"It will thus be seen that if Mr. Bryan's pro
posals are accepted by the nations and tho.e
who have replied to him so far have all ac
quiesced that the only method of settling dis
putes not yet perfected is arbitration.
"It ought to be fairly easy now to persuaoe
the nations to agree to arbitrate these ques
tions which diplomacy or commission of inW"1
can not settle, by agreeing on some few denii
subjects at first, and finally increasing tne v
until all subjects are included.
"But, however, the master of war shall ejeu
tually be dethroned, it is evident that Mr. w
has steered clear of the rocks on whicn
Taft's treaties were wrecked, and that ty
mixing up investigation and arbitration ro
treaty, he is likely to get both in the end.
LIKES NEW PLAN
S. R. Doyle, Hugo, Okla. I "Je ue f,H
monthly plan and hope that every lss"rnaVe
reach mo for the next eight years, as mej
for the last eight years.