Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-09-15

trust him and deposit its money with
him.
If, however. the sound and honest
banks OF the country guarantee the
debts of every bank well earned repu-
tation for honesty and business judg-
ment will no longer be necessary as
part of the bankers capital. 1t will no
longer be necessary for the community
to consider whether banker is honest
or not
With such opportunities who can
doubt that the standard of character
of the bankers of the country would
deteriOrate and the use Of banking
funds for speculative enterprises would
increase. and that the losses which the
honest bankers would be required to
make good would increase correspond
ingly.
This burden will fall not merely upon
the stockholders of the banks. but upon
the depostors also. Much banking capt.
tai would inevitably be driven out of the
business and such as remained would
have to make good its losses by reducing
the rate of interest to it's depositors and
increasing the rate of interest upon loans
The profits of the banking business, like
those of the merchant, the manufacturer
and the farmer, depend upon good man
agement. The attempt to make all the
profits of good management bear all the
losses of bad management is step in the
sOcialistic process which would level all
distinctions between thrift. enterprise and
sound judgment on the one hand, and
recklessness incapacity and failure on the
other.
Scheme Is Impracticable.
Except for campaign purposes there is
no occasion for any such scheme. The
business men of the country need no
guarantee Of bank deposits. They know
with whom they are dealing when they
select bank for deposits, and their intel
ligence and knowledge of affairs are
amply sufficient for their own projection
III making the selection. The wage earn
erS Of the country, the multitude of people
of small savings. not familiar with bust
ness, 60 far as they live in places where
there are savings banks have practically
perfect safety fog their deposits, and over
eight and half million of them are en-
joying that safety now with a good rate
of interest.
For them. if they prefer it. and for all
who live In places which are not acces-
sible to savings banks, the republican
party proposes that the government shall
furnish absolute security through a pos
tai savings bank, so that the wage Garner
can deposit his savings at the nearest
post Office and have the guarantee of the
government that it shall be returned: but
that guarantee will be accompanied by
the possession and control of the money
itself. so that neither the depositor nor
the government can lose.
The republican party believes in the reg
ulatiOn of railroads. 1t believes that their
managers ought to be made and can be
made to obey the law. 1t believes that by
an enforcement of the law, not spasmodic
and sensational. but steady. firm and per-
sistent, excessive and discriminating rates
can be stopped: and it is now and has
been for a considerable period engaged in
such enforcement with marked efficiency
and success.
Mr. Bryan does not believe in the regu-
lation of railroads. He does not believe it
practicable. He regards it as bound to
fail. although he is willing to criticise the
republican party for not accomplishing
that vast and complicated task all at
once.
functions Of government should be con-
fined within the narrowest possible limits
was Thomas Jefferson, whose disciple Mr..
Bryan today processes to be. Under his
inspiration the true democratic party con-
tinually resisted the extension of govern
mental functions.
Yet Mr. Bryan. while inscrbing the
name of Thomas jefferson upon his stand
ard, seriously proposes that the federal
government shall not merely regulate the
operations of railroads which are engaged
in interstate commerce. but shall acquire
and own and operate itself all the great
railroads of the country.
Add to that Mr.. Bryan's proposal that
no great interstate business shall be
transacted-and all great business is in
terstate businesS-without the permission
of the federal government evidenced by Il
license, and you cannot fail to realize that
he is prepared to see the state dwarf d
into insignticance and the farmer the
miner, the manufacturer, the merchant,
all individual enterprise. not merely sub
ject to government restraint against
wrongdoing. but dependent upon the gov
trnA