The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-01-09

Omaha, Neb., Jan. S.-Ardent advo-
Gates of the principles inaugurated by
'Old Hickory" gathered in this city
today to attend the banquet of the
Jacksonian club, and add their hom-
age to the memory of a patron saint.
Two hundred persons, prominent in
molding the political history of the
state, gathered around the board.
The banquet hall was decorated with
flags and from the walls were sus-
pended the portraits of Jackson, Jeffer-
son, Thurman and Bryan. The tables,
too, were surmounted with palms and
other ported plants and flowers.
w. j. Bryan was the first after-din
ner speaker, and was received with
great applause. When quiet had been
restored, Mr.. Bryan said:
While we are not in a position to
secure such national legislation as we
believe to be the best, we are in a pO-
sition, in many states, to secure the
enactment of laws which will be both
helpful to the public now, and an aid
in subsequent efforts to bring about
national reforms. Every good law
placed upon the statute books brings
credit to those who are responsible for
the law, and strengthens their claim
to public confidence. When in congress
1 endeavored to secure the passage of
the law which would place a small tax
upon national bank deposits, for the
purpose of raising a fund to guard de-
pOSitOrS against loss. The bill was
opposed at the time on the ground that
the strong banks would have no adj
vantage over the newly established
ones, if all the depositors were pro-
tected from loss. While this argument
ic ~,
tereStS of the large banks are more to
be considered than the interests of the
depositors, it has been sufficient, thus
far to prevent legislation needed for
the protection of the depositors. L sug-
gest that it is possible to apply this
principle to state banks in the states
where the silver forces have control. A
small tax collected according to de-
positS, until a sufficient sum is raised,
would encourage the deposit of money
in banks and discourage boarding. I'm
der such a system depoSitors could be
paid at once out of the guarantee fund,
and the business of the community
would not be embarrassed, as it is now,
when every bank failure ties up lot
of money and brings business to
standStill. If state banks were thus
made secure, national banks would be
compelled to join in securing similar
protection for their depositors or suffer
the consequences.
Let me suggest another law, which
it seems to me the last campaign has
shown the need Of 1t is a we'll known
fact that many corporations contrib
uted large sums to the Republican
campaign fund. In some instances
banks gave literally and justified the
contribution on the ground that they
were protecting the interests of the
| believe that we should
adopt a law, where we have the power
to do so, preventing corporations from
funds or taking any part
in politics. A corporation is a creature
of law, it is called into existence for
business, not for political purposes. !
While an individual is justified in con-
tributing money to aid in legitimate
work, a corporation is not !
Until a bank pays its depositors in full |
it is impossible to tell whether it is /
it's own or its depositors
money. In large corporations the stock |
holder finds that his own money is be- |
ing used often for the defeat of his |
own political principle. Corporations /
should be made to keep out of politics"
Other toasts were answered by T. Q. /
Weltz on THE Legislature" Hon. c. !
F. Cochran of st. Joseph on "Busi- |
ness Men and Methods in Politics and |
James Moynahan of |
Lincoln. National Democracy" and r.
l.. Metcalfe, The Press"
Letters of regret were received from
Vice President Stevenson, Governor
Stone of Missouri John R. Mclean of /
Ohio and David Overmeyer of Kan