The Detroit times., 1908-09-23

publican spellbinders describing
this panic Of last fall az an an
ucipatory panic. q panic that came
anticipation Of my election.
II they Offer that excuse, here
Ia my answer; they have never
accused us of having more than
one panic In each administration,
and AZ we have had our panic al.
ready why not go ahead now and
get the benent.
On Trust Question.
The parties differ also On an.
other question. My friends. the
Republican party Il tn favor OF the
regulation of trusts and the Demo-
cratic party II In favor OF the ex-
termination Of the principle OF
private monopoly. I need hardly
tell this intelligent audience that
We have no reference to patents,
for patents are in the very nature
monopolies and they are granted
In return for q benefit which has
been conferred on society. We
believe that Il IL better to prevent
the creation of a monopoly than
TO create IL and then spend your
time trying to catch 1t and regu.
late II.
We insist upon the enforce.
ment of the criminal law. The
president has been In now for
several years and while I have
tried to commend every good
thing he has said or done. I have
pointed out time and time again
that In seven years this strenuous
president has not yet succeeded
in dragging one trust magnate to
the prison doors. And, my friends,
II o man like Mr.. Roosevelt has
not been able to follow Republi-
can ideas and do that, how do you
expect q man like Judge TAFT to
put q man in the penitentiary
where Mr.. Roosevelt has failed?
It fs not time to say. as the
Democrats say that God never
made a man good enough to stand
at the head Of private monopoly
and decide without appeal what he
will charge for that which the
people must have and which he
alone can furnish?
Plan Of Regulation.
Our plan IL. first, to prevent
the duplication OF directors. We
say that competing companies
should not be permitted to stifie
competition by electing the same
men as the directors of all com
panies, and we have a plan that
I believe to be effective. It Is
like this: Until corporation en-
gagged In interstate commerce Is
selling one-quarter OF the entire
product In which 1t deals, the fed
eral government need not take no.
tice OF It. But when 1t reaches
that point It Is large enough to
bear watching and our plan brings
II under the supervision Of the
federal government at that point,
and then the government watches
It while 1t grows, until 1t reaches
30 per cent. And when one cor
poration Is selling to half the peo-
pie OF the United States and sup
plying half the product In which
Il deals, we think for the protec-
ton Of the country the laws
should say, Thus far shalt thou go
and no farther
And while 1t is growing, we
would place restrictions upon II
for the protection of the public,
and one OF the restrictions we
suggest In our platform rs. that
when q corporation Ia growing
from the Is per cent limit to the
80 per cent limit II should be.
compelled to sell TO all purchasers
everywhere at the same price, due
allowance being made for the cost
Of transportation.
On Bank Guarantee.
But, my friends. there ia an
other question. Our plan Is to
make all banks stand back Of each
bank by raising from banks
fund sufYicient to guaranty the de-
oositors Of failed banks. ] don't
mean to say that all banks are
unsafe. On the contrary, I think
I can say that nearly all banks are
good. The only trouble Is that
you cannot tell which is the bad
one until q failure comes. and
then II In too late.
Now, II the banks will agree
to have q notice posted on the
outside of the dead banks saying
that this bank will fail within q
year. 90 that people will have no
tice, we will not insist on the
guarantee OF deposits. But they
don't do that. Every bank tells
the men who come there that IL
Is safe. that they can get their
Money whenever they want It. and
we believe that this time has
come to compel them to make
their promise good, and TO give
the protection which they all as
sumo the depositor has. Have we
that protection today7- Let me
give youe evidence that we have
not.
The postmaster1genera1 recon-
mended postal savings bank.
Why? He said millions are sent
abroad every year to be deposit
cd in the savings banks OF Europe
nm