Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1907-11-20

, ingtOn l have heard al least twice men
who were not strongly for Mr.. Roose-
welt and whose politics | did not know
say to me that they thought the Unit
:. ed States needed a king and that there
could he no better man for that impe-
, rial position | am but one of many
people interested in public affairs, but
it seems to me that if | have had four
, or five men talk to me about making
Mr. Roosevelt king or emperor the
same suggestion must have been made
| to great many hundred other people.
In 1900 the Democrats urged that
the question of Imperialism was going
to become n very serious one. At that
time the Democratic party did not fear
Imperialism at home, but it did fear
that it would be established in our
foreign territories and might ultimate
ly come here. Today the people are
face TO face with the question of i'm
perialism in the United States. 1t is
not matter to pass over with a
laugh. When prominent men dare TO
stand up before college classes and as
sert that they would rather see king
than president it is time for a pro-
test 1t is high time that the voters
of this country should determine
whether they want republic or
monarchy, democracy or an empire.
The Financial Situation.
!. The difficulties of the New York
banks last week have resulted in very
serious troubles for western banks.
But, as matter of fact. the difficulty
arises in Washington, proceeds to New
York and finally makes grave trouble
in the west. l was told today by
. Washington banker that he darea~not
+ give draft on Il southwestern bank.
His own bank is perfectly solvent.
=. The bank upon which his customer
desired to draw is equally solvent, but
he doubted whether there was curren-
cy enough i'll that section to enable
the immediate payment of the draft.
The man who asked for the draft is a
> man of national reputation. While not
, rich, he is in very comfortable circum-
, stances. He was not asking for the
money to hoard or to speculate. But
, he could not get any assurance that
it would be paid. This shows what
> the present state of the currency of the
United States is. Some years ago the
Democratic party asked that the cir
culating medium should he increased
by coming silver. 1t was not done.
l Today the banks of the country are
. urging strongly that the circulating
medium should be increased by allow
! ing them to issue bank notes based
Il | upon their assets. If this is done we
VIII have currency back of which Is
u nothing except bonds and stocks such
rs we have found recently in New
l York TO have but little value. Unques-
| tionably the volume of circulation Is
too small Doubtless it should be
largely increased. But when we find
one after another of the national banks
u lending huge sums of money on New
York traction securities or upon the
bonds of the famous or Infamous In
terborough- metropolitan company one
II wonders whether that affords fair
i basis for anAmerican currency.
The bankers have harlied back time
md again to what they called the
wildcat" currency of the old days
: That currency had absolutely no basis
Il Everything that has beesl said about II
was said justitiahly. But if today the
II proposition of the great bankers of the
United States that they should be al
lowed to issue circulating notes or cur
= rency based upon the assets of theil
d banks shall be accepted the only diff
e terence between the old wildcat cur
# rency and this currency would lie II
" the confidence of the American people
n in the banks which issued the notes
n But when we find great banks lendin:
E. money upon securities which go fas
+. down to destruction how can we fee
1t that in the future the notes issued b.
n these banks will form a safe circulat
v. ing medium? Why should not the gov
is eminent itself furnish the none,
e which is necessary to the country
,e Why should it be demanded that til
f. national banks or the trust companies
a the Z. r. Thomases or the E. II. Hal
,s rimans, should be given the opportunit
to to supply the money which is neces
ID sary for the country and for their ow
1t profit?
The Elections.
1t is worth while to consider tn
In meaning of the recent elections. TIL
10 most striking illustration of the Den
ia ocratic trend in public sentiment wa
r furnished by Cleveland. There Tol
,e Johnson. a progressive and radio,
"a Democrat, was put up against
r. straight out and out Roosevelt Repul
he lican. 1t is fair to say that Mr.. Blu
n. ton is man of ability. of standin
aud Of absolute integrity. 1t would