The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1908-07-10

~ 8 & rs \ Is
as evidenced by this act OF 1886. OF
the sane and Just demands of labor
or the law-making power Under hin,
remains the unninching champion of
every sound reform IN this direction.
Immunity from law weiprotnlso no-
body; immunity from oppression. from
its very infancy. tho Democratic party
has been dedicated to establish and Sc
Icure.
The Tariff.
The President and his party declare
that pre- election general revision
OF the tariff would be unwise.
This assertion has been repeated In
enactment Of the Dingley law. ana
surely the country will not again be
deceived by Republican promises to
revise the tariff after tho election.
give US another chance 70 make you
| made
There must be n revision and Rrnd-
| uni reduction of the tnrin by the
! friends Of tnrifY reduction for the CONF
mon good, and not by the bcneflcIarics
OF ita abuses, who Justify uxe of the
/ impost taxing power for tho chief pnr-
pose of comforting privilege and profit
upon nc few mt the expense OF the
Trusts.
1t is tho shortest OF steps from the
tariff to the trusts. Let 1t be denied
it they care to deny 1t. that the tariff
is the real mother of he trusts.
The Democratic purity Will strike
down special privileges, whether grant
ell through n high protective thrift or
granted to soycrnmcnt-chnrterc cor
porntions by permission OF law. All
trusts owe their birth and their ability
to continue existence TO ono or the
other of these two forins of special
privilege. No private monopoly, no
business npproxinintins prfvntc mo-
inopoly In methods or In magnitude,
can endure without one or the other,
or both.
The Ecccnt Panic.
Proceeding at once to mentiont OF
the Republican partys dealing with
the disturbed finances of the country.
we are brought before that curious Leg
islativc compound. the yreeland AID
rich bill. The Republican party boasts
lof its knowledge of finance. What
have they given us in this law?
l1se2-'s under Republican admins
tration. panic was anticipated. The
panic came. and with Republican eff
frontery they charged that panic to
the Democratic party. Now. controls
they ANONYMOUSLY seek to charge on
US every consequence growing out of
their own administration OF the
government.
great force OF public opinion behind
lit that the Republican party attempt
ed to enact was n bill to prevent the
recurrence OF panics. The last panic
was depositor's panic, brought about
by fear upon the part OF the depositor
that he could not get back his money
which had been left in bank. This
fear was produced by the fact. which
had become known, that the banks had
been lending their depositors' money
run upon the banks by depositors. not
by note holders. in consequence
occurred.
The Republican party has attempted
ors' panics by an emergency bank
| note bill, In the provisions OF which
they have decreased the security that
the deposltor had in a twofold way,
serve required by law to be held, and.
secondly, by making the new emer-
goncy notes prior lien upon all the
assets Of the bark, decreasing the Sc
curity that the bank had to keep for
the ,qepositor and increasing the bank
liabilities that might be charged
against deposits. In my opinion IT is
! an lished scheme to enable
| banks that have fioated questionable
enterprises to digest otherwise indi-5
gestible securities by making them
tho basis OF a national circulating rne-
dunn of exchange. The future will
| show whether this miserable make
shift, part House infnn,y and pnrt Sem
ntc infamy, ms n grent Republican
newspaper hnx said, Will answer ita
purposc. Whatever 1t may show III
the way Of sins of cOnn,IsNlOn or OmlH-
sion, not only. Is it the fault Of Repub-s
licnn lcgixlation, but the evil which 1T
rctends to cure was altogether and
| exclusively the fruit OF Republican
| lcsislntion. Theirs IL the responsible