The commoner. (Lincoln, Neb.) 1901-1923, September 01, 1913, Page 6, Image 6
wrTp,,V The Commoner VOL. 13, NO. 29 tr i-v"-n rr j Uk IV I' I I h 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.