Newspapers / Brevard News (Brevard, N.C.) / Oct. 30, 1908, edition 1 / Page 8
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PRI® Under Democratic and Republican Ad ministrations Found Higher During | aTvelandTEntire Terir. Than Under McKinley’s What Wiillt Co To Under the Roose« Cotton Averaged % a Cent Entire Term, velt Panic? '‘Ir 1‘ ,, ,),■ ( ?: "I ‘ ■ j.rii tiaiiv 'ci’v ri ts' iir.'-nii'- ,i 11. tion.il r^rnin!- 1 Tirn--.' "ni!. ’■ ;• vin<Ii(;iU"n ii. Mrd. .tMiii'ijinll:' ■'> thill all th' ,i).. Will- -■< i«-.111 ;i' I'lri.'-'. i.j iAli.'!, :ili't i' IK li.i'i < ■ O'l t ^ i. =if tf: ■i-n. to ti.;k T! ,1. i:' Mf 1 >< ■ .i-'ii ; ■ i Jl h'.'.s ;■ lor (!• n . • nixttii' ' n('lf-r ];- f • j.l tl;- < -V. It I [;iMi*-!ic(! Ih;tt rhi.' r s aui') tl l-'.irrn ’;roii 111 li.l i!! inti IP ]ia\. liu . . _ fs (/I this !>i- 'u ^ \"If with the pii'" III i-i,tt-pii tnni!i!i)ii-' i(> ur;ir S <■< ■ ' st%rir.-'Ti/itt< Jl. .'-horl-cn>j I fi t in;;; jriost f-st.-, oi tiu- Siiatli. t}ic r- thi- ;ir'‘fnl i .iiion if '■ f'lry :iK Ui fh" ir.'/jD!" ir;<iii)ns to ;•./)) r;' thi />•/!). iWixii'inri'i fii 'WMsiiii. , 1;. ‘; f <! ih*- cuini-il;!rion ni'lci In<l's : ,ii.r VO tits. UI 1’, I ’ thi nn'tiiinu it shoiil'l - SMiith t*' ■ , ]!)-■ 'ii.t.' Iriiifiii ol t !ir ~r< X. it >iai> by lixod •n'l r .■’ s ;i!lniinisti‘.itj"(i ,■ h is ?Mi(l lh«‘sc |)ric''~ •-/loiild he ;ind in llic (i“hr <ii' li'c )■;(<■( rfiat lh(^ prii’r <*1 co(~ ''lit ("liiiioi iilTi'ctfti firo/Kti;I' turili. U'i fhi‘ |)ric(“ i- in (hv* f>l’ (Ik‘ worhl. while tli(* < ol pnxhK'ins <'<)(ion lias very iiu*rr;.s«*<l by iho «‘\acti<>ns »>f a hiyh tai'ill" and Ui<‘ rofifKTic-^ of fai iff-<‘r» ;iml J{«w>s<'vrll-|»n)|ccl»‘d l|-Us|K, Th<“ fipurrs cointtilod i»y ^Ir. Wood- :uu, I'lmn tho hiRhot-t statistical au thority, arc* as loUows; ■\Vilson, X. T'pon oxaminin: r„ Oct. If), in OR. r tho in’iccs of cot ton from the years ISf*;! to 190tt. in- i hisivo, J lind that tho Xo\v York pri- cfs for those yoar.'? covcr th* adniin- istr.'ition.=! of ('loveland and McKinley. rii‘V<'lnnd was Inavmuratid March ’Sit::, "J'ho- hiK'host ))rico roaclu'd l\v cotton rUirins’ tho year was !* l.'-lt; ccrds per pound; the lowest i)rice was 1 Vi cont.s per pound. Tn ISfM the highost )»rico wa.s 8 ft-10, the lowest was r> 9-lG. In 189.'j tho hir^iiest price was ;t%, tlio lowest was 5 !*-!<!. In ISfMj tho hif,'host price was* 8 "s. the lowest wa.s 7 1-lG. McKinh‘y was In.Tnffnrated Alarch 4, lH‘i7. The hicrho.st price reached )>y cotton for tliat year was S Vi cents per ])opnd, the lowest was .1 Jn ISOS the hiRhe.st price wa.s fi 9-lt!, th.' lowest was fi n-Kl. Jn 1S‘j9 tho hishost )>rico was 7 I'.l-lii, tlie lowest wa.>^ .')"s- :i rlie highest price was 11, the V. s 7 8-16. I , thus be seen that cotton 1 its lowest price durinj? the IS and 1899 of McKinley’s ad- , >ion. Taking' the av’erage price •'i(^ administrations of Cleve- i,i! McKinley, we find that for • 'S93, the first year of Cleve- i; iinistration. cotton averaged ■, uis per pound. The first year K.niey’s administration cotton J io-16 cents per pond. . the second year of Cleve- >Iniinistration, cotton averaged , : < nts per pound. The seconti ! ;,>■ ,\i -Kinley’s administration cot- j,., 1 od 5 15-16 cents per pound. '• I’’,, I. ird year of Cleveland's ^d- ’ rnii’i.-traiion cotton averaged 7 23-32 licr pound. The third yeajr of i .\!cKiaic\ s admini.stration cotton ; ;v. f. .> d ') 27-32 cents per pound, j 'I'ji 1. iirth year of Cleveland’s ad- iininisfiat: n cotton axeraged S 1-48 I < fills ]ifi pound. The last year of 1-iti, ii ii i'■<' K'nif\ administration cotton ;t 14 cents per pound, ii will thns be seen that cotton axcraLiid during: Cleveland’s adniinis- ii-aiioH 7 <>-7 c-cnts per pound, and dnriim McKinley’s administration 7 I-Hi ccp.ts per poiind. 'I'he lowest average price cotton Isas ovfr sold at since any record has I icon kept of its price was during the three (irst years of McKinley’s admin- i.stJ-atioii. The i)rioes refei'red to were New York prices. North Carolina prices were at least to % of a cent less than tlie New York prices. T trust that these figures may be of sonu' .service to you. They are accu- raie. Of their accuracy I have no doubt. They are collected from a puI)Iication issued in 1907, made by Alfred Sliepperson, recognized as one of tho most accurate cotton statisti cians of the United States, and they are verified by examination of the J)ooks of some of the cotton mer chants of Wilson. You will notice that during the years J.S04 and 1895, while at some l)erioils during the season cotton reached in 1893 7% cents, during the same year it also reached 9 15-16; and while in 1894 it reached 5 9-16. during the same season it reached r.-lG cents; and while in 1895 it sold as low as 5 9-16 cents, yet much of the cotton was sold at 9%; and dur ing tho .second and third years of Mc Kinley's administration, tind while the McKinley tariff bill was in opera tion. the highest price at which cotton was .sold was in 1898, 6 9-lti per pound, and in 1899 the highest price at which cotton sold was 7 l:j-16 ('ents. BRYAN ADVANCE AGENT OF_PR0SPER ITY Remedies Which the Demo cratic Party Offers to the Restoration of Confidence and Quietude and an Even, Equitable Prosperity. The Roosevelt Panic Measures Republican Failure The effort of tho Tlepu))lic.ans to create a IJryan scare have not only I'allon Hat, but Mr. Hryim is lakintc the wind from th«‘ir sails l)v pointin;; out ihi- necessity of remedies and noI- icics advocalt'd only bv the Di mocriits tov the v^storution of conl'uk'nt'e und tiie ri tiiru of i>rosperity. •■'I'Ih' l)oino«*ratic party i> ab*;olutcIv uecexsafy lo reslorc prosjierity. 'I'l»c lu'puhlican party has had its chancc aiul it lias t'ailcit. \V«' arc now iti tkc liiid'-il of a (le[n'(\ssioii for wliich nat ural <-oiulitl<Mis ruriii'li IK. «‘x(*\isc- ArtilUial <oiulitioiis are responsible iuv ihe ni-esent hiisine'«s pvo^lralion ai». ' lh*)>e artilieial conditions orijii- ua d iu Kepublii'au policies. The bu Jadui'o »'«>r the nine months IK u” oil s<'ptend)er ;'>(► wciv 'I .iiunbt r, and tlic iiabiiitics ainount- d to SIIt meant that if u* assets are worth, in fact, the inioiint at wliicli they arc placed. Iu'i't‘ will “-liU be a Uiss of Sr»(),0tU».00t> (o r>e(‘ounl for. “Tbi- tr«'u\<‘udou'< loss con»es at a time when eioiw are veasvmably liimd and when nat\iie has not withhehl her l»ouutv. It comes wlicn the Rcpiihli- ejuis are in I'onjplete- They have a I’re^iilent whom they «*uloglze in th(Mr platl'onn, a Senate completely in the liands of the Jlepublican party and a Ucimblican House of Itepresen- tatlv<‘s dominated J»y a despotic >peak<'r. <*an asMiine, therefore, that they liave <lonc everything they could d<» <*ousist(Mitly inider tiu'ir poli- ttJ' nii:i.ent a pani<% anti yet the panic is here. It eonu‘>. t<M), when we \uiV4- a tarilY >o hiy:h that <“vt'u the lU'publieans \>ronti.-e viH'ally to revise it iinuiediate!>. and Mr. Taft has venturcil tlu' opinion that lltc rc- ve^ion uill probab!> Jm‘ ilownward. WlUit »loc'. it oroir.i^.* to foj. the poU- itiou 'fi'. "St-' A. ’'sufv 'tf-; ^ 'it 'VY'\ "' Lf Just before this issue was put to press an inquiry teeman from North Carolina, and Chairman of Publici Democratic Headquarters in New YorK for the last ten servation and intimate Knowledge, wired: “Predict that Bryan will carry New YorK, India majority in the Electoral College. The attempt to buy hard times cannot be effective after Republican pani not succeed again.’* was wired Hon. Josephus Daniels, National Commit ty Bureau of National Committee, who has been at days. Mr. Daniels, from that vantage ground of ob<» na and Ohio, and enough other States to ifive him the and intimidate this year wiU not succeed. Threat of c, and the attempt of the trusts to buy t^ election can IWPARMERS The Republican, speakers are nrw trjin'g .CO practice the same decor-inn on the farmer that they practice.’ , 2 the laboring man. It is the “full bnrn basket” now. The spell binders t n of big crop.s and high prices, and that the Republican party hr ?i'i credit for it. Does the Rcpuhiioar party hold the cloud in its hands? i3op‘ j it scatter the rains in due Peasnny Does it ftirnish the sunshine and fertile soil? It is sacrilege for tiic-se Republican leaders to acclaim a rfuiit that belongs to a generous hoav.),iv Father. Is Republican legislation respou.=;hle for the price of farm products? Canada farm products are as high. there is no Republican part.v Canada. In. England farm pr.xhict.s are as high, and they have noiin> i- ' ^ Republican party nor a high luiff there. What has the Republican party done for the benefit of the farmer? >;oi onp thing. But it has permitted tho f.'^rrner to be afflicted by “known abu.sos” hav^ grcm^n up under Republican rule —the-abuses that the Republic.-iti loadi ers refused to remedy. The farmer has suffered from the extortion of the trusts; he has suffer ed from the btrrden of high tariff; he has sufered from the insecuritv of his deposits, and h« shares in tho evils that follow from the growing estrange, ment between labor and capita!. Ex travagance in Federal appropriation.s lessens his income and he finds him self, unnecessarily taied to support a colonial policy in the Orient. . The farmers believe in the rule of the people, and this has been prevent ed by the Republican leaders; the farmers believe in the election of Sen ators by popular vote; and thj.s prop osition was defeated in the Repubii- <^an convention; the farmers believe in honest elections, as well as in honest government, and they know that the Republican convention rejectod the publicity plank. Mr. Taft underesti mates the intelligence of the farmers of the "West, when he asks them to accept the Republican record of the last eleven years as evidence of tlm willingness of tho Republican party to do justice to those who till the soil. Tho Republican party in North Carolina has 110 more of character in it 111 1JM)8, imder the leader.ship of Spencer Ad&ms than it hart in 18ftK %vhen “tho rape exteiuiallng .Tmlee’’ WAS cleliv«’inK stump speeches from tlic bench. The addition of Charles French Tom.s and Ire<lell >feares has not perceptibly increaseil the generrd average. “Taft—-tlie moou which reflects tliP light of tlie Roosevelt Sun.’*—^lohn Sharpe Williams. Statistics <*onipilcd by Dunn'.s Com mercial Agen<*y show that wages liavc increased 1J> per c*ent during the op erations of the Republican Pinglcy tariff law. Statistics compiled by the same authority show that living ex- l>en.se.s have incrca.scd in tho .<iain«‘ time forty-nine per <ent. Xo woiuh*r the “dinner pai!'* was but scantily fill ed before the Roosevelt panic kiiockcd the bf>ttom out of it. How can you support an admini.stration that has given you 19 per cent «»f prosperity to carry lO per ct‘nt of Imrdcn * 1''!' proteetioii of tiie nublie? What ! i-ies |k«'; it ilr.it looK lo a re^tori' «.t i>r ''peiU>? ■ iid r. ! >rts ii.ul i 't . th •lb. ipc ti. * - Pfl'tc, ' lia i .an< 1,., 1 be .<)>; i ■ .IUi>*'i of ihc 1 lia.c ■rt- 't< r.vitish cabinet sr.ccch that the ex- irom Lancashire vcu per eotit over <lecUu-ed that the tl'.- I'u'ited States T. -ti\ e pfv cent in If this is true, how ists explain it? c publican party cannot es- L it- vi'i ovd. It is important »bi- ptiblic. because its p»)H* loi their ob.iect not tlu' ad- ^ »:f (lu‘ 'M'ueval weli'are but liiiiciu <»f a relatively snviiU I ib»‘ p. . |de 5it the cxiK'use >’ of tiu‘ peopti*. it" we are. P’’osi»«'iity. we must ivstore int’.eyv.Maieiic,. in iudtistri. The R^*- (>ul)li= ai pavis »!oes iu»t promise this. •'!i »lic «»mravy. it pledges Itself to •I t'of wviaiioo ol the iM>li<‘ies under liave gvo\A'u and fattened of the public. \- iu*-i i'dic i>avt\ does pronJ- the eroation of private ‘ ‘ I. 'r,, prosperity we >-'T ii.iv, harmonious co-operation iwcc-n 'inV" iv ,uu\ capital. The Re- iioofs not promise this, tho ooiwrary it promises to con- ■inu-:- til.' pi^Hcies liiv.Mi and capital, und have made la- ’■'or iriiublt-s acuio. ^ nbi.'h t :h,. iriisiv »\l)CUv lirev, emplovt. “To have prosperity we must pro- tfct the depositors and thus induce thorn to take their money out of hid ing and r< .store it to the channels of trade. Th.‘ Republican party does not promise protection of deposits. The Democratic party does. The Domoeratie party promises legisla tion wh.ieh will insure depositors. The man who puts his money in a bank must know that he can withdraw it at any time, and this security would bo sivon by the banks, because the banks make their money out of their d0)‘0sit..r.s. If we are going to have pro.sp. iit^ i;ve must have a reduction of the tariff. The people recognize the tariff is extortionate. Even the flepnlilican leaders are forced to ad mit thi.'^, and yet they are deliberately piannin.y- i<) prevent any real revision by electin'-^ a stand-pat Congress, while tho Republican, candidate is talking al>out revision, without giving any a.ssurance that revision will mean a material reduction. If the Republi can )>art\- wins. It will not revise the tariff in the'interest of consumer and that moans that the present agitation must c()ntiniia for four years longer. ‘•Do the business men want busi ness unsettled? Do the businss men want an extension of this agitation? Do they want business to- be unsettled by four years of discussion over tariff rates? if the Democratic party wins there will be an immediate reduction of the tariff which will satisfy the public demand and remove the tariff question from politics for a number if years. A Democratic victory means prosperity, prosperity to all the peo ple, a prosperity that will be perma nent. It means the , remedying of abuses; until abuses are remedied there can be no peace and the sooner abuses are t-emedied, the more easily cati the remedy be applied.” if it were possible to draw a prac-. tical tariff bill so equitable in Its terms that it ^vt>uld benefit every American citizen exa«*tl> alike its effect upoii one would correspond exactly to the iKMiefIt which the father conferred on his son by giving lilm a penny to go to bcHi wltliont any supper and then took It back from him after he iiad gone to sleep. If its benefits wei-e confcrre<l ^^1th exact equality then then tliere \rou1d be no beneflt.s. There is no sleight of liand methoil by which the ji-overnmejit can put a dol lar Into the treasury of the steel trust \%hich it has not earned without tak ing it out of the pocket of some one el.se. It is tlie very tniqualifies <»f protection wliich give it s-treiigth. Those who get millions more than their .sluiro ont of It contribute >f tlieir unequal gains to keep in power the i>arty wlUch gives it to them. Is it any woutler the Republicans are afraid to let the pc'ople know befoi-e their ballots are cast from whom tht'y are getting the money to buy the <^ee- tion. ai»ti in what amounts they arc getting it? ! Some day the sober sen.se of the petjple will awake to the fact that a wall of protection around the coimtry is as effectually a block to American manufacturers from markctinjr their produ<‘ts in foreign <*ountrles as it is again.st foi'eign manufactui'ei’s rca<h- ing tmr nuirkcts. To he sure there is no exact tax on exports. Xo oiu‘ would stand for that. We all nize the nec*essity for finding foreign markets for the surplus of our maiiti- factui'cs. Ilut the wall of prot(H*tif>n under which the trusts have organi/,<Mi adds at every turn 10 the expense of the manufacture and thus handicaps the American manufacturer iu iiis ef forts to get a fair share of the bttsi- ness in tlie world’s markets qiute as efliectually as would a tax on exports. >Ir. Farmer: In the pro<liiction of yoia* cotton, the great staple crop of the South, you are taxed at every turn by a protective tariff so high that even the Republicans admit the necti of I'evision, but the pricv of your c-rop is fixed in the markets of the world, where protc‘etive tariffs canm^t possi bly altect it. Haven't yon paid enough of tribute lo the trusts? “Our Republican friends may be confident that every vote cast will he honestly counted as cast, but as far as <*arrying the ele<*tion in Xorth Caro lina is concerned, they had as well put their ballots in the rural free de livery box.’?—W. W. Kitchin. “You can’t argy agin a success,” and reduced passenger fares in' Xorth Carolina have been so completely suc cessful that it is shown by sworn re ports of railroad officials that railroad earnings from passenger fares ha\c been greatly increased under the low rates, whic*h are at the .same time sav ing to the peo|)Ie of the State a hun dred thousaiMl dollars a month. BRYAN'S SEPARATOR SPEECH The Best Hit of the Campaign. Are the Cows to Go Dry| for Four Years if Bryan is Elected? The Bryan Scare “Bluff'* of One Manufacturer is Called by Another Who Tells Employees of the Intimidator, "Come Over to My Factory and Get WorK if Bryan Ss| Elected." In one of his speeches in ^Missouri last Saturday, ]\Ir. Bryan referred to an item that appeared in the papers that morning, regarding a threat niad(' by a Pennsylvania manufacturer of cream separators. l\lr. I>ryan .said: “A press dispatch announces this morning that a Pennsylvania man- Tifacturer of cream separators has given notice to hi.s employes that the factory will close clown for an extended )>eriod if I am elected. This is the most discouraging threat that J have yet read. I had supposed that the cows would go on giving milk under a Democratic administration as well as under a Republican administration, but if as a result of my election the cows are going to dry ur» in Novernber and not become fresh again for four years, it will really be a serious matter. There must be some mistake about this separator business. The man may be manufacturing the separator that the Republican party has been using, for it has been using a separator that has sep arated the cream from the milk and it has given the cream to the mo nopolies and the skimmed milk to the rest of the people^ That kind of a separator will no longer be used and those who manufacture it may find their occupation gone, but for the rest of the people .it will be a glad day, a day of great rejoicing." These kind of threats fall flat of their own weight in the year 1908. Laborers, with the dinner pails already but scantitly tilled, if not empty, arc' not to be intimidated this year. Business, under the paralysis of this liepublican panic, is coming more and more to view IMr. Bryan a.s the harbinger of good times and a return to sound and enduring principles. In the particular case referred to above the threat becomes a boomerang when challenged by a rival manufacturer as follows; * ^ W'aterloo, Iowa, Octoljer 14, 1908. ^Norman K. Mack, Chairman Democratic Xational Committee, Chi cago, Illinois. Dear Sir:—I have seen the threat of the Sharpies Separator Com- into our entploy. In view of the fact that the finished product of the steel trust is the raw material of a separator factory and under the present tariff the steel trust is permitted to cliarge iis 30 per cent more, aiwl does charge us 30 i>er cent more tliap we could purchase in the world's market, the Sharpes Company must l>e talking tes shareholders in the Ignited States Steel separator manufacturers. Uy W. M. Mar.sli, President. Corporation rather than as IOWA DAIRY SEPARATOR CO.. which estranged i have made la- party DroniVt Democratic •■'>id eapii ii Ju.<«ticft between labor •‘'"I rri,-n(l«h: ’’estoration of peace ■'"'’^'»P b. twvcu employer and mtN you CAN Q£T A JOB. WAGES INCftFASEO 19^0 'PHosPEnn^ COST LIVING COHsmin T^rm I GUARANira BANKS The Democratic Plan for Securing BanK Depositors. A Simple, Practical Method That Will Secure the De- ^ Kositor, Establish Confide nee. Prevent Panics and 19 ieep Money in Circulati? n. The followfng presentation of the guarantee of bank deposits was pre pared by Col, F. B. Arendell, who spent some time in Oklahoma, where the plan is now in successful operation. He has investigated and seen the bene ficent effects of its operations, and presents its advantages and answers its opponents simply, clearly and forcefully: The Demoxiratic party in its plat form proposes a safe, sound,, simple and economical method of guarantee ing the bank deposits of the great mass of individual depositors without who.se money. the banking business of this country could not survive for a single day. It is a practicable, fea sible business proposition, the princi ple of which is being applied every day to almost every phase of business and commercial life. A co-operative plan based on common sense, without frills or necessary friction, a plan that has riveted the attention and won the support of thousands and hunUreds of thousands of the brainiest and most prominent men of all parties, and all sectio'ns of the country. Who realize the fact that there is a growing de mand for some pracitical and effective method, the provisions of which v>:*iil furnish security to the people who fur nish nine-tenths of the money upon which the banks of the country do business. The p^ari proposed by Mr. Bryan and embraced in the Denver platform is simple, sensible, sound. It provides for a guarantee fund to be raised by a small tax on bank de posits, to be paid by the banks and held in the national treasury, and to be used only for re-imbursing the depositors in case a bank should fail— or a bank official should squander the depositor’s money. That’s all there is in it. It simply proposes to guarantee the depositor's money, and if carried into effect it will do it. Should the individual depositor be protected? AVhy not? And why should the banker be the only person and the bank the only institution that de mand the use of the people’s money without security? If the National Government wants money, and, it freauently does, it will give to the man who furnishes the money United, States'bonds bearing interest as security. Not even the government asks for the people’s money without security. If a railroad company wants your mpney it will give you interest bearing bonds se cured by a mortgage on the railroad. If a cotton mill company wants your money it will give you a mortgage on its ^mill. If an indt\ddual wants your money he will give you as security a mortgage on his home with h’S wife’s signature attached, and if he don’t pay you back, principal and in terest, the law provides that you may sell the home and apply the proceeds to the payment of the debt. And when you come to think about it who else beside the individual depositor con nected with orur banking system are not protected or insured. Ask the president of the bank if the bank building, the furniture and even the plate glass windows are insured, and if he is a prudent man he will tell you yes. A»U. him if the bank of ficials are required to furnish security for the faithful performance of their duty and ho will tell you that each one of them is required to furnish good and biitficlent bonds for this pur pose. Nor is this requirement regard ed as a reflection ui>on the banker’s character or ability. Ask him if the t'nitcd States government or the ^^tate *1, Carolina exacts security for the deposite they carry in his bank he keeps his own life insured and he Will most likely tell vou yes. And carry burgia.-y insurance and vo»i would naturally cotachide that evw- everybody around that thing and tf and Tnsurel ypu^wjU as|> who fnrnishesjthe ■ • ‘ bank <loes H>oney» upon bugineav^and^ whU IY\0 T.'. telf you that nine-tenths of it is fur nished bv the individual depositor.s. Then ask him if these individual de positors are secured and he will say oh, no, they are not insured; they get no security or guarantee. Is that fair? Is it the correct prin ciple. Is it fhe wisest policy? Mr. Bryan says no, the Democratic party says no. Every panic that happens— every money scare that occurs—every frightened dollar^ that's in hidins; every uneasy depositor—they all, in acclaim that ijt loud and growing louder, say that it is neither a corroct principle or a wise policy. Every clearing house certificate and every cashier’s check that went out \ipon the financial flurry a year ago was a warning that neither the principle or the policy is safe^ sound or fair. Every declaration on the part of ilr. Taft or any of the Republican leader-s in favor of postal savings bank or other government method of currency concentration is a warning to businos.s men, financiers and the people every where that this diseased spot in our financial system must have safe and effective treatment, if a steady flow of our currency into Wall street apd other money centres is to be av’crted. And what’s the matter with tiie method proposed by the Democratic party? It is practically the’ same co-dperative principle that the in surance company adopts to enabl-- it to pay the loss sustained by the l u’-n- ing of the bank building, or the .K-r.rh of the banker whose life is in; r. i. It’s the same principle upon whidi the State raises a fund for the build ing of schools and educating the chil dren, weak and strong alike without discrimination. Do away with thi.s principle of taxing the strong for th^ benefit of the weak and you woud de stroy our sj'stem of government, both State and national. But Mr. Taft says it is a wild-^at proposition. He did not say that until he got close to New York. Out in Kansas and the Dakotas, where his party has adopted the plan in their State platforms, he said nothin^ about it being a wild-cat proposition. Out in Okfahoma, where the plan i? in successful operation and alm> ?t universally endorsed by his own party and where only one out of liv’e hun dred and twenty banks have fan ^ since the plan went into operation, would not think of saying anj’thin? about it being a wild-cat i7ropo.«iitinn. If he did the first banker he would tell him that between the dar*'s of'February 12 and July 25 the incli- vidtial deposits In the secured ban^'? in Oklahoma .increased more thui $4,000,000 while there was a deer- -^ in the unsecured, banks of more tha n a million dollars.-Thi's Oklahoma ha' I'- er, whether Democrat or il*- pubflcan, would tell him that bet\s - the dates July 25, and Octob. • of this year, jtist 70 days, not' ■' standing the cc«itinuance of the ’ " publican panic the individual dep " In the protected banks in Oklah< increased over three million eight hi dred thousand dollar^. These homa bankers, merchants, coal ' and men of all dealings would tell that there were no frightened dor if' or even dimes hi Oklahoma and j instead of the money flowing oui Oklahoma into the money centers, it is rapidly flovVlng into Oklahom secure the protection furnished ^ plan which Mr. Taft says—when gets-near Washington or New York a wildcat scheme. But Mr. Taft some ot his Bympathizera say that plan would Invite into the banl<i '!: business unreliable, unsafe and wilth’''^^ banks and bankers, which .is equiv^' lent to saying that the national State administrations are going hav« no more sense than to go into tuo business of chlir^ing> legalizing tuminar kK)p» the public a ' wij^, ^ imrelial^ and irreeponsi|.i‘ banli^ an4 ^K^nkers. Mr. Taft and pairty if are Utept in Mr. Bryan and party ri^ver -wntiliA - hia
Brevard News (Brevard, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Oct. 30, 1908, edition 1
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