Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-11-25
posits and I read some months ago in The

posits and I read some months ago in The
Commoner the draft of bill, which think
you once presented to Congress, carrying
that idea into effect. Has ii not occurred
to you that such law would be used to
foster the worst kind OF speculation, such
as we have seen lately In the case of the
First National Bank of Milwaukee? Spec
ulative banks could attract large deposits
by high rates on interest, the deposits be-
ing taken away from more conservative
Institutions which could not with safety
and profit pay similar rates, and the money
be used in produce and stock speculauons.
The depostor would no longer need to con-
slider, as he now does. the character OF the
men who manage the banks an the nature
of the banks business. He could safely ac-
cept his five or six per cent interest, know
ing that in any case he himself could make
no loss. l am sure such result as is this
is not desired by you, and yet it would be
as certain as anything could be to re-
suit from the ill-considered and unwise law,
contrary to all banking usage the world
over, which The Comnoner Endorses.
| The Commoner's Policies.
81 trust that the policies advocated in
The Commoner will always be selected
rather with the purpose of correcting real
abuses and relieving actual burdens of the
people and not merely for their popularity
with the unreasoning and ignorant masses,
with a view to party advantage. l am sure
that the trusts of the country could not be
better satisfied with the course of your
paper than they are now in seeing that you
are concentrating your strength upon the
railroads which are comparatively inno-
cent White allowing the people to go to
sleep regarding the really vital issues OF
tariff spoliation, on which the trusts gem
orally with their watered stocks, are thirty
ing and paying dividends.
Il suppose you are familiar with the pro-
nncad action of the civ pf PhiladplDhia In
selling out completely to private corpo-
ration its interest In the city gas plant.
This does not indicate that the experiment
of municipal ownership has been particu-
lary successful in that city. On the other
hand. the people of New York city are be-
ing charged an extortionate price for their
gas by the consolidated gas monopoly. and
it will be an outrage il by corrupt inf1u
ences. the bill reducing the price now be-
fore the legislature is killed off.
81 inclose item regarding the Great
Northern railway from which you will see
that there are some private corporations
which are not entirely unmindful of the
interests OF the public. They should all be
held equally responsible before the law and
all should be made to conform to the ex
ample and standard set by those corpora
tons which are managed most economi-
cally, most honesty and most In the in
terests of the people, with due regard to the
rights of invested capital"
A Gratuitous Reflection.
This communication, from Mr.. Bryans
point of view, seemed to be sufficient. and
he terminated the correspondence and the
long friendship that had existed between
them in the following arbitrary manner:
Dear Mr.. Your favor at hand.
Your letter indicates that we differ so COM
pletely in sympathy that we are not likely
to agree here eater. Your gratuitous re-
Election upon The Commoner and upon my
self. contained in the sentence, L trust that
the policies advocated in The Commoner
will always be selected rather with the
purpose of correcting real abuses and re-
lieving actual burdens of the people and
not merely for their popularity with the
unreasoning and ignorant masses with
view to party advantage, could not have
been prompted by any friendly spirit. and
we shall therefore consider our correspond
ence at an end.
ct appreciate the service that you have
rendered TO the cause of b,metallism but
your contempt for the 'unreasoning and ig-
norant masses and for those who do not