The Marion daily mirror. (Marion, Ohio) 1892-1912, 1907-12-11
TARIFF 9||g'N||g|g||ll.PF|yLP
Stand Patters So No Reason
For Repeal Of Duty.
BRYAN's FINANCIAL PLAN.

X ? a
The Gathering of Democrats hid.
diana--A Word About Platforms.
BY WILLIS ,. ABBOT.
One day recently Congressman Dial
zell and Serene Il. Payne, both emf
nent stand patters, called at the White
House. BY a curious coincidence as
they came from the presidents Office
Mr. william Jennings Bryan went In
The reporters at the White House
who always interview the outcomiig
man rather than the ingolng one, ask.
ell 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 10 per
cent and that he did not see that so
light u duty would affect the newspa-
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 pulp,
and their owners are not members of
congress aud do not draw their sala-
ries out of the public purse. Only a
few weeks ago the newspapers, speak.
Ing through their national organization,
declared for the absolute repeal Of
so much of the tariff us affected raw
materials for wood pulp or other raw
materials entering Into the manufac-
ture of print paper. 1t was not par
tisan body that adopted this resolution.
The resolution was adopted by the
American Newspaper Publishers asso-
citation. Seven out Of ten of tile men,
bers Of that association are Republic
ans; half of the papers that they con-
troll are standing f6r the doctrine that
under no circumstances should the
tariff be touched nt any point. And
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 laughed. 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: ''If
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 ifs
II the taifnf on wood
pulp IL 80 slight thnt no one Is affected
by It, why have nll 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 o.
ther a protective tariff or n useless
tariff. If It Is protective tarlff cnd
affects the Republican newspapers Of
he United States. why are they Mt
aclSfng 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.
ngton just at the time when the finnn.
clal distress throughout the country
was most acute. In my presence he
talked with the. president OF one of the
argest banks In the United States.
was told by Mr.. Bryan that he had
.alked with other prominent bankers.
All approved the plan. Space will not
permit the complete publication of
what Mr.. Bryan said, but In effect 1t
s this: ~ do not know what the effect
IF the new bond issue will be. but 1t
seems to me that the relief ought to
,ome from the other direction. The
'lans so far have been intended to fur
iish government money to oythe banks,
the most Important thing now
$ to restore confidence among bank
lepositors and thus not only prevent
but secure deposits.
4 the money that Is being hidden and
boarded can be brought back into cir
'ulatlon the present stringency will
disappear at once. / believe II |
would be possible for the government |
o give immediate relief by an act |
II congress providing for the guaran-
ee by the government of all deposits
n national banks, the banks thus guar
lnteed to agree to reimburse the gov
rnment for any losses incurred and to
make this reimbursement In proportion |
o their deposits. The advantage of I,
his plan is:
"First.-That every depositor In such |
hunks will feel secure
"Second.-The expense of 1t win he
aid by the banks which get the bene-
It OF 1t, and This expense win be small /
ompared with the benefit gained.
"Thlrd.-It can be put into eject i'm
aediately and thus restore confidence
nd enable business to be resumed"
In my conversation with MIR. ,Rryan,
oncern'ng this suggestion he. laid
reat stress upon the need OF immedi-
te action. He said very frankly that
ghep be was In congress fourteen I
ears ago he had suggested bill for1
be creation OF q guarantees fluid for
BE protection Of depositors IN national
anks. That bill was beaten, but
judged from the conversation that at
he present moment lie did not greatly
egret Its defeat, and, moreover, be