Omaha daily bee., 1907-12-01
Former Minnesotan Disapproves Ne
braskan's Bank Deposit Plan.
YET HE WILL TAKE THE STUMP
Local Brethren Wonder How Well
Divided House Will Stand.
NO BLAME ON THE PRESIDENT
TOwne Says ROo-eveIt's Attitude
IL Not RcspOnsible for the
Financial FURRY over
the Country.

Charles A. Towne, one Of the most ardent
Bryan men who ever followed tho Peerless
Leader to defeat, who backed out of the
republican party and forfeited a brilliant
political career TO join the ranks OF the
silver crusade Is already taking Issue
with Mr.. Bryan, though declaring he will
campaign for him in 1905. He was in
Omaha yesterday and frankly admitted he
could not approve Mr.. Bryan's scheme Of
the government guaranteeing bank de-
posits. nor would Mr.. Towne, in common
with some other of his partisans. agree 70
impose upon President Roosevelt respon-
sibility for the financial furry. Admitting
Mr.. Bryan had no serious opposition within
his party for the presidential nomination
and that Tammany had not taken a stand
against the Nebraskan, Mr.. Towne left
the city with some of his democratic
brethren wondering how strong leader
the sage OF College View will prove with
his most ardent devotees unable to EN-
brace some of the doctrines he breaches the
loudest ~
Roosevelt Not TO Blame.
1T is unfair T. the president to ascribs
to HIM responsibility for the present finan-
cial furry, though think his attitude has
aggravated and accentuated the situation"
said Mr.. Towne
THE recurrence of periods OF liquidation
have been so regular as almost to be
possible Of prediction to a year and this
recurrence, due in two or three years, has
been hurried by revelations In financial
affairs, which has shown that people who
have been trusted with large sums OF
money have proved recreant to their trust"
said Mr.. Towne. 1t is another case OF lack
Of confidence. What the country needs now
Is not more currency. II We had had twics
as much the run on the banks would have
occurred just the same; but we do need
a revision of our banking and finunclal laws
II do not think the government should
guarantee deposits in the banks, but do
think that under government supervision
the national banks should be compelled to
form an organization, which will usrantea
the deposits in ali OF the nationa. banks.
The details OF this plan should be left to
men familiar with conditions; then the
amount Of money. which can be loaned
should be strictly regulated and the manner
OF making such loans; the relations be-
tween the banker and his bank; and the
matter of reports of banks should receive
attention.
VIII BOOST for Bryan.
'T have retired from politics and am de-
voting my time to practice of law and prl-
vRte business. ] may be back in the game
again, but not now, although l expect to
make speeches next year for Mr.. Bryan
AS candidate for the presidency"
Mr. Towne said that while there were
objections to Mr.. Bryan on the part OF
some New York democrats there was no
practical opposition: that the attitude OF
Mr. Murphy Of Tammany Hall was some
what misunderstood, as he had not declared
10 10
but that another person had no authority
to pledge the organization to him. The in
cipient candidacy OF other democrats was
mildly scored by Mr.. Towne
Mr.. Towne showed with considerable
pride a seal ring the gift of a Moro darto
while he was in MindanHo. The ring is OF
native workmanship and shows that the
Moro has made considerable advance In
tho manufacture OF Jewelry.
TOwne Has Varied Career.
Mr.. Towne visited Mayor Dahlman Sat-
urday He was on his way from New York
10 Nevada, where he has mining interests.
and win stop again in Omaha three weeks
from now on his return east
Mr.. Towne has had n varied career in
politics. He came into prominence in Min
nesota as representative from the old Du-
luth district now represented by j. Adam
Bede. Mr., Towne was then a republican,
but Mr.. Bryan came on the political hori-
zon with his Gross of Gold and Crown OF
Thorns" and Mr. Towne Joined the crusade
known as "slver republicans He ceased
to represent his district in congress. Page
Morris, now on the federal bench fell heir
To the Job. Towne, however. went TO the
senate upon the death of Cushman k
Davis. Davis died in November. and Gov
ernor Lind. democrat. appointed Towne as
his successor. The republican legislature
however, robbed Mr.. Towne Of this honor
soon after It convened the first Of the year.
electing Moses 2. Clapp, republican, and
Towne held his seat only untll March T.
In the last Bryan campaign Mr.. Towne.
siver-tongued, next only 70 the Peer
less Leader himself. put In the time on
the Pacific coast lie ran for vice-prosident
on the popullst ticket, against his will, It
was said Then when picking ran out In
Minnesota Mr.. Towne went 10 New York
Sn the meantime gathering up a few stray
nickels in the oil business at Beaumont,
Tex. He went to congress as a Tammany
man and out again when he quit fammany.