The Caucasian. (Clinton, N.C.) 188?-1913, 1908-10-15

see here In America that the lAoorer /
In better protected By Law. In better
employed and better paid. and IN
deed more prosperous here than IN
any other country In the world |
There is one way to stop this immi-
grafton from continuing. and that I'D
to elect Mr.. Bryan and have q Deh-
ocraeic administration"
At this point Mr.. Butler discussed
Mr.. Bryan's new panacea OF guaran-
tee In bank deposits He described
it as another one OF Mr.. Bryan's
half-baked remedies that was not
only Impractical. but would be vici-
Gus in its results and predicted that
IL was one OF the remedies that Mr..
Bryan was advocating now that he
you'd desert In his next campaign.
the speaker showed how IL was dis
honest to tax the honest banker TO
make up the losses caused by a dis
honest banker He said. however.
that the great overshadowing Ques-
ton with the people was TO keep the
Republican party In power in order
that they might have some money
to deposit. He said under the last
Democratic administration they did
not have any money to deposit and
that the prosperity of the country
to-day had come under Republican
policies.
Mr.. Bryan claims that the Demo-
cratic party should not be charged
up with the hard times and great
loss and suffering under the Cleve-
land panic of 1898 unless the Re-
publican party is to be charged up
with the panic of last fall. A panic
| is easy to start. One OF the tests or
the soundness of the principles OF an
administration and of the govern
| ment that 1t gives the people Is that
| when a panic starts does 1t gain
Roadway and continue to grow
| worse? This every panic will do
| unless the administration and the
| government Is so sound that 1t has
the power to check it. The Cleveland
| panic spread over years and created
| the greatest distress this country has
ever suffered, while the administra-
ton did nothing and seemed power
less to check the growth of the I'm
ancial career.
This country was so prosperous
last fall that the panic died a-born-
ing. At the same time, the Roose
welt administration took prompt
steps to check it and crush 1t in its
incipiency. The panic of 1898 was
started by the friends and supporters
of the Democratic administration;
the panic of last fall was started by
the enemies of the Roosevelt admin
istration. This panic never reached
the farmer, it hurt most those who
system, advocated by the Republi-
can party, would furnish the Gov
eminent with one of the most pow
: erful weapons with which to check
! a panic. When panic starts nearly
every depOsitor rushes to the bank
where he has his deposit and draws
out his money. This act on the part
, of the people would tend to create
, a panic If there was no cause fol-
: one. The people will not rush to
, the postal savings banks and with.
? draw their deposits, and those who
> would draw their deposits from ma.
, tional banks would be sure to take
' them to the Government savings
r banks for perfect security. This
!. would prevent the hiding and hoard.
r ing of money and make the contin.
= uation of panic impossible.
81 THE people who remember the
Y Cleveland panic (and nobody car
= forget it) know that they did not
Il have any deposits then to be guaran.
t teed, and that, therefore, the most
:, important question to-day is to keeI
, our prosperity which has grown ur
l under Republican policies in order
that we may have money to deposit
If the bank guarantee was practica
and sound and would work success
fully, the people would have no use
for it unless they had something tc
deposit. The only thing that is caus
ing any stagnation in business to-
day is the possible danger that some
people feel that Bryan might be
elected. 1t is more than probable
, that this election would start 9
panic, and one thing Is certain
!. that if it did not. there would be
business stagnation for Ions
time until the country could be
certain as to what policies he
,, would put into operation. On the
, other hand, the election of Taft
would mean the instant resump
ton of business. I It's safe to say
that every idle mill would start ur
at the same time, while the elect
!, ion of Bryan would not start up &
!. single mill, but would almost sur
ly cause some now running tt
close down.
i "Mr. Bryan claims that the labor
) vote should support him because
y he and his party are better friends
8 of the labor men than the Republi
: can party. I challenge Mr.. Bryan
and his party to look through thei
: record and show anything that the,
c have ever done for labor. Ever,
: law on the statute books to-day fo
the protection of labor has beer
;, placed there by the Republican par
t ty. The Democratic party has neve
: passed law for the protection o
labor, and labor has always suffere,