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About The commoner. (Lincoln, Neb.) 1901-1923 | View Entire Issue (Feb. 1, 1922)
VOL. 22, NO. 2
Entered nt the Postofllco nt Lincoln, Nebraska,
as Hoeond-claflB matter.
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THE COMMONER, LINCOLN, NlCn.! ; '
' i' . ...
A. CURRENCY FOR EUROPE
Senator Robert L. Owen, of Oklahoma,- pro
poses a Foderal Reserve Foreign Bank for'
Europe. ' '
Senate Bill' 2915, presented by Senator Owen'
to tho Republicans inviting them to adopt v ft,
provides for a Federal Reserve Foreign Bank'
with flvo hundred million gold capital furnished
by tho gold now held by tho twolve Federal Re
servo Banks taken out of the present 35 per cent
gold reserve against deposits. '
It proposes to have branches in Europe and to
issue a maximum of twenty-live ' hundred" mil-.
lion bank notes securod by qualified acceptable
bankers' bills of short maturities, not .over
ninety days, whore such bills' are themselvfe
socured by staple, merchantable, insurod1 commo
dities of 100 per cent value, such notes to have
n 20 per cont gold reserve; the Bank tp be a
part of the Federal Resorvo System under the
government of nine directors appointed by the
United States Government.
The" bank notes would be redeemable in gold
In London, Paris and Berlin by member banks
only. ' v
The purpose of this currency would be, to fur
nish a stable money with which to measure
business contracts in manufacturing, buying and
Senator Owen argued that Iho one great over
whelming need of Europe is a money as stable
as gold in the pockets of the people, in the tills
of the merchants and manufacturers and busi
ness men, and in the vaults of the bankers.
He said European business "men would re
joice to havo tho use of this gold currency. It
would tend to immediately stabilize contracts
It would at once stimulate increased produ'c-'
tion in Europe.
It would stabilize oxchango.
It wou)d mako the gold dollar tho standard
measure of international contracts.
It would greatly assist Germany to meet its
reparation bills in gold payments and thus help
France, Belgium, Great Britain and Italy.
It would make tho United States the greatest
and most useful servant of mankind and entitle,
America to .tho increased respect of tho whole
It would enable Europe to create the commod
ities needed to pay America fifteen hundred mil
lions of debts and the interests thereon.
It would enable Europe because of its in
creased producing power to increase its pur
chasing power of American commodities and
thoreby help restore the industrial depression
It will preserve a gold standard and prevent
Europe going permanently to a paper-money
It will earn a minimum of seventy-five mil
- lions of gold per annum.
It will stimulate our foreign commerce and
expand our exports and Imports.
It will increase the employment and the wajres
of labor in tho United States and go far to re
lieve our present industrial depression
The "Bloc" Is Not
Tho Eastern papers are bitterly complaining
of tho "Agricultural Bloc." Some go to the ex
tent of denouncing it as unpatriotic if it be
comes any more effective than it is, it is liable to
be called treasonable. All this agitation about
the agricultural bloc is very amusing. There
has not been a time in thirty years when there
was not a Wall Street Bloc, a Big Business Bloc,
a Manufacturers Bloc, or a Brewers Bloc. Every
important question is liable to shatter party
lines. When prohibition became a real issue the
drys as well as tho wets ignored party lines and
stood for the wishes of their constituents. The
Eastern members never regard party lines when
a question comes up that touches the financial
interests, the manufacturers' interest, or the big
The formation of a bloc is not unusual and
cannot bo regarded as improper. The only criti
cism that can fairly be made against the agri
cultural bloc is that it has acted in the op?n. Its
membors havo not been ashamed to proclaim
their purpose to ignore politick, and to defend
the interests of tho farmer. The financial bloc
always Worked under cover as do the blocs that
promote the interests of big business.
The agricultural bloc is largely responsible
for the most valuable legislation we havj thus
far had in this congress; it securod the passage
of the bill regulating the packers; it is responsi
ble for the passage of the bill that protects the
farmers from those who used to gamble in his
products. The agricultural bloc" has recently
secured for the farmers a representative on the
Federal Reserve Board. This much they have
done In the way of securing affirmative relief
and then have furnished the nucleus around
which a sufficient number of senators and mem
ber's gathered to prevent the big business bloc
from reducing to the extent they desired the
taxes on big incomes. They were not able to
.prevent all the reduction attempted but they
kept the rate eighteen per cent higher than the
big business bloc wanted it.
Success to the agricultural bloc. - -
W. J. BRYAN. '
. The people of Scranton, Pennsylvania, have
elected John F. Durkan mayor, and they did it
knowing that he stands for law enforcement. It
is refreshing to find such a man chosen as the
city's executive, and it is equally refreshing to
read in his first message the following statement
of his policy:
"In the matter of crime and vico I stand for
repression. Tho 'Thou shalt not' of the decalogue
is as imperative today as it was when first writ
ton. The spirit of the times may tend toward
a policy of condoning, regulating, or segregat
ing, but it always occurred to me that it was the
height of presumption that men of our day
should assume to take issue with the Creator on
questions of morals; contending that the times
have changed and conditions are such that what
is wrong in His eyes might be regulated, di
rected, or supervised in a manner that would,
bring It within the pale of tolerance
n- wShaJI Gnforce the w as it applies 'to the
E-,s?it,ee?t ameiment. The apparent disregard
of this federal enactment is a reflection cm our
Americanism, and it tends to weaken our faith
in constituted authority."
His election is one of the signs of the times
and a, good sign. The era of lawlessness is
near ng it and; the virtue of the people sb
gran ng to assert itself in the selection of of
ficials pledged to enforcement.
W. J. BRYAN.
THE WOODROW WILSON FOUNDATION
(By Hamilton Holt, Executive Director)
naJLon"w,Je Wbute to former President
Wi son through which the ideals and principles
which he voiced for the world is how under way
in -the 48 states of the Union and the District
of Columbia. The plan of tho Woodrow Wilson
?ftuntIon callB for thG national tribute of $1 -000,000
or more with which will be endowed
America's own "Nobel prizes" the Woodrow
Wilson Awards for "meritorious service to cl J
mocracy, public welfare, liberal tWht
peace through justice." ougnt, or
Each state has been divided into districts with
men and women appointees accepting the re
sponsibility ot taking care of the campaign in
their own localities. Hundreds of friends of
the former administration, friends of the broad
idealism which Mr, Wilson bespoke, Demons
Independents, and Republicans, alike hav if8'
come parties to thid movement to estabiiSi i
America awards somewhat akin to tho Nob l
The opportunity to contribute to the Four, i
tion comes a little over a year after thn 2 i i
to render a tribute to Mr. Wilson was DronnVa?
On Christmas eve, 1920, a group of woS
meeting at the hoirie of Mrs. Charles L Tiff
in Now York outlined a plan to honor tho Imfi
who was two months later to leave the win
House after eight of the most momentous von 2
of the world's history. They did not ffi
what would be the verdict of history with rVf
erence to Mr. Wilson. Rather it was their in
lention to "steal a march on history " to hmT
or an American while he was still living
The plan was discussed with friends'of Mr
Wilson nnd .was first- made public at a creif
winter's day meeting at a New York hotel Sinca
that time the purpose of the Foundation has
been defined in the following terms:
"Created in recognition of the national and
international services of Woodrow Wilson twice
President of the United States, who furthered
the causo of human freedom and was intru
mental in pointing out effective methods for tho
cooperation of the liberal forces of mankind
throughout the world..
"The Award or Awards from the income of
tho Foundation, will be made from time to time
by a nationally constituted committee to the in
dividual or group that has rendered, within a
specified period, meritorious service to democ
racy, public welfare, liberal thought or peaco
To all who subscribe to the foundation a
certificate is being given. The central figure to
this is a portrait of Woodrow Wilson.
The executive committee of the Foundation
is headed by Cleveland H. Dodge of New York,
as chairman. Franklin D. Roosevelt is chair
man of the National Committee.
National Headquarters are at 150 Nassau
Street, New York City.
MR. BRYAN AND THE SENATORSH1P
Miami, Fla., Feb. 1.5. It is entirely up to
the Democrats ,of Florida whether William Jen
nings Bryan will run for" the senate, Bryan
said in a statement today.
"If the Democrats of Florida feel that as a
senator I could render sufficient service to the
state and party and nation to justify calling
upon me to represent them at Washington,"
sard Mr. Bryan, "I would consider tho matter
from the standpoint of duty and in connection
with other claims upon me. But I havo no
thought of entering into a 'contest for the of
fice. "Tho nominations that I have received two
for congress, one for the senate and three for
the presidency have been tendered me prac
tically without opposition and I haye prized
them as expressions of confidence.
"No friend will expect me at my period in life,
when my political record is known to all, to
solicit support or to take the risk of alienating
those pledged aspirants.
"I am looking forward to congenial associa
tion here with Florida- Democrats who havo
been my co-laborers for a quarter of a century.
I am sure our relations will be pleasant so Ion?
as my plans do not conflict with the ambitions
of others or their personal preferences."
VENIfcELOS VISITS MIAMI
Eleutherios Venizelos, former premier of
Greece, arrived in Miami late yesterday after
noon for a two-day visit.
Mr. Venizelos was met at the Royal Poin
ciana hotel in Palm Beach yesterday noon hy
a delegation of local Greek residents who es
corted him back to this city.
The Venizelos party consisted of Mr. and Mrs.
Venizelos and Mr. and Mrs. Michalopoulos. Mr.
Michalopoulos is Mr. Venizelos' private secre
tary. Tho party will join two more couples in
Cuba and will then tour South America.
Following the reception the party was sup
plemented by William Jennings Bryan, F. B.
Stoneman, T. G. Delyarinis, Theodoro Melanoses,
Miss Marguerite Galatis and S. P. Robineau,
who took luncheon at the hotel. ,
Following the luncheon, Mr, and Mrs. Veni
zelos, Mr. Bryan and Mr. Delyannis,. entered
the automobile which had been provided by the
Lindsey-Marmon company, and started ior
Miami. The other cars fell into line and fol
lowed. The former premier party then sped on its
way to Villa Serena, the Bryan estate in Miami,
whore a social call was made on Mr. and Mrs.
Bryan. Miami Herald. r-J- . -.: ' " .
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