The Montgomery advertiser., 1908-01-09

tContinued from Page OneD formal opening of Mir. Bryan's cam paign for the Democratic nomination for the presidency at the Denver con-
 Other speakers were AdIai E. steven son. former Vice President of the Uni- ted States. Bloomington. H.; United States Senator W. J. Stone, Missouri; John W. Kern. Indiana, and Edgar Lee Masters. Chicago.
 The speakers generally confined themselves to issues of the day. Pleas for party harmony were freduent. Pre- vious to the banquet most of the lead CTS present conferred with Mir Bryan.
 United States Senator Jeff Davis, of Arlxansas was scheduled for . speech, but was not present. Despite this hia- tus In the program, the proceedings were so lengthy that 1t was past mia night before Mfr Bryan was called up- on.
 Speech of pfr. Bryan.
 Mir. Bsyan's subject was The Point of view.s He said. in part:
 "The questions which involve dis cussion of the relative sphere of tae nation and the State bring out the dif- ference in the point of view of the ar.stocrat and the democrat. The aristocrat wants to get the govern Inent as far away from the people as possible: the democrat desires to bring the government as near the people as possible. The aristocrat would substi- ute national remedies for State ones. because predatory wealth can protect Itself from national legislation more easily than from State legislation The democrat would add the national rem edy to the State remedy and thus give to the people the protection of both the Ia nd rrr
 "The labor question is considered from both standpoints: the aristoerat thinks only of the large employers; the democrat of the army of employees of the general public which is incon- venienced by any disruDtion of friend ly relations between employer and ems plove.
 And the question of imperialism in like manner presents the difference in view point: the imnerialist thinks more of the extension of commerce than of the preservation of the ideas of self government and he thinks only of the benefits that might come, to the com parative few: the democrat knows that trade rchased at the cannon's mouth costs more than it Is worth and that the cost falls upon all the people, while the profits accrue to hut few.
 And so whatever question we take up. we find that everything depends on the point of view from which we examine the question. and there is no better illustration of this than can be found in the financial stringency through which we are passing. The Republican leaders at once rush to the rescue of the banks after those banks had brought the stringency upon the country bv their methods. The banks of the rest of the country were dis criminated aEainst in favor of the banks of New York city. and after the Government had exhausted tho lonable surplus in the treasury. it borrowed money at 3 per cent in order that 1t might have money to loan to the banks for nothing. and the high financiers countit patriotism to loan out at emer- gency rates the treasury money fur nished them without interest.
 If the Republican leaders had spent half as much time in trying to make depositora secure as they have spent in trying to increase the profits of the bankers. we would not have had any panic at all.
 "The country is ripe for fha annli-