The Caucasian. (Shreveport, La.) 1900-192?, 1907-12-08

Suggestion That the Government
Guarantee Deposits In Na+;or.,
Banks Approved by Prominent FL
Observation-Disclosures of the Plan.
The Gatherins>of Democrats In IN.
diana-A Word About Platforms.
By WILLIS j. ABBOT.
one DAY recently Congressman Dali
zen ana Serene E. Payne, both emf
nent stand patters, called at the White
House. By curious coincidence as
they came from the presidents office
MI. William Jennings Bryan went in.
Inc reporters at the White House.
VINO always interview the outcoming
man rather than the ingoing one, ask
ed Mr.. Dalzell and Mr. Payne certain
questions. One of those questions is
worth emphasizing do you think
that the duty on wood pulp will BE-.
taken off? The president has so sug-
gested." Representative Dalzell an,
swered that the duty was only Is Der
cent and that he did not see that so
light duty would affect the newsDa
pers of the United States in any way.
1t appears, however, that the news
papers of the United States do not look
upon the subject quite as this eminent
politician does. They have to buy
print paper made out of wood pain.
and their owners are not members OF
congress and do not draw their saIa-
ries out of the public purse Only
few weeks ago the newspapers, speak
ing through their national organization.
declared for the absolute repeal o.
so much of the tariff as affected raw
materials for wood pulp or other raw
materials entering into the manufac-
ture OF print paper. 1t was not par
ttsan body that adopted tIs resolution.
The resolution was adopted by tie
American Newspaper Publishers asso-
citation. Seven out of ten Of the mem
berS of that association are Republic
ans; half of the papers that they con
troll are standing for the doctrine tha
under no circumstances should the
tariff be touched at any point. AnG
SO when Congressman Dalzell and
Representative Payne came from the
White House and were told by the
waiting newspaper men that Mr. Roose-
welt had promised to use his influence
to destroy the tariff on wood pulp
they merely i4ughed. They said that
the tariff was so small that there was
no reason for anybody to oppose it
When Mr.. Bryan emerged from the
executive offices this statement was re
peated to him. His answer was: eli
the tariff is so small that there is No
reason for its abolition, why are the
people who are interested in the wood
pulp business fighting bitterly for its
maintenance? If the tariff ON wood
pulp is so slight that no one is affected
by it. why have all the newspapers of
the United States Joined in a request
for its abolition? The tariff on wood
pulp and the other articles utilized in
the manufacture of print paper is Ell
Their a protective tariff or a useless
tariff. If it is a protective tariff and
affects the Republican newspapers of
the United States. why are they at
lacking 1t, they being protection news
papers? If it is a useless tariff, Why
not abolish it?''
Bryan's Financial Plan.
Mr. Bryan happened to be in Wash
ington lust at the time when the finan-
cial distress throughout the country
was most acute. In my presence he
talked with the president of one OF the
largest banks in the United States.
was told by Mr.. Bryan that he had
talked with other prominent bankers.
All approved the plan. Space Will ncl
permit the complete publication OF
what Mr.. Bryan said, but in effect i,
is this: II do not know what the effect
of the new bond issue will be, but It
seems to me that the relief ought to
come from the other direction. The
plans so far have been intended to fai-
nish government money to the banks.
whereas the most important thing no"
is to restore confidence among bank
depositors and thus not only prevent
Withdrawals, but secure deposits.
II the money that is being hidden and
boarded can be brought back into CIR
culation the present stringency VIII
dfsapnear at once / believe II
would be possible for the government
to give immediate relief by an ac1
OF congress providing for the guaran
tee by the government Of all deposits
In national banks, the banks thus guar
anteed to agree to reimburse the gov
eminent for any losses Incurred ana TO
make this reimbursement In proportion
to their deposits. The advantage OF
this plan is:
"First.-That every depositor IN such
guaranteed banks will feel secure.
Second. expense OF 1t VIII De
paid by the banks which get the pene,
fit of it, and this expense VIII DE sihaii
compared with the benefit gained.
..Third-It can be put into effect I'M
nlediately and thus restore confidence
and enable business to be resumed:
In NV conversation with Mr.. Bryan
concerning this suggestion he ialn
rreat stress upon the need OF immeai