Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1908-09-24

nels of trade. This can only be done
when the depositor has confidence in
the soundness of his bank.
Panic is the specter that haunts the
waking hours of every business man,
and panic is most frequently precipi-
tated by the small depositor losing
confidence in the security of his place
of deposit. Once imbued with that
idea, he rushes to withdraw his
money, and we are brought face to
face with all the evils of a suddenly
restricted currency. To remedy this,
the Republican party offers the Emer-
gency Currency Bill of the last Con
gress, which permits national banks
to issue currency based only on their
assets, and gives to the government
a first lien on those assets to redeem
the currency.
Under this plan every issue of adj
ditional currency by a bank exhausts
its assets, and tends rather to excite
than allay the fear of the depositor,
so the effort of the bank to meet a
pressing need only increases the de-
mand upon its strained resources
The Postal Savings Bank will give
security to deposits, but it purchase:
this relief at the expense of putting
the government into the banking bust.
ness and the individual out; and the
funds gathered by the government ii
these Postal Banks will, if present
Republican policies are continued, be
concentrated in central places of de.
post, and in the end go to swell the
volume of Wall Street speculation.
DEMOCRATS OFFER A REMEDY-RE
PUBLICANs SILENT.
To meet this situation, we propose
a state and national guaranty law, I'M
der such regulations and restrictions
as will insure a conservative banking
policy and security of deposits. This
of necessity means improved inspec-
ton, and will result in each banker
becoming a watch over the other
The tax upon the bank will be small
and will be paid many times over ii
the additional security to the public
Business relieved of the fear of panic
will move forward to assured anc
continuous prosperity.
On this important policy the re-
publicans of Missouri are ominously
silent. They fear to adopt a plar
that has not yet met with the ap-
proval of the great national bankers
and they fear to oppose a plan offer.
ing so much relief to the average citi-
zen. So they pass in silence what
they dare neither to oppose nor ap.
prove.
Interesting and important as are
these questions in regard to State af-
fairs, yet after all it is the policies oil
the nation that bring prosperity OF
adversely to the people of the State
If the national government pursueS
false policies, citizens of every state
must suffer for it.
REPUBLICAN NOMINEE QUESTIONED
ON NATIONAL PLATFORM.
National issues are a part of this
campaign, and we shall not allow Mr.
Hadley to avoid them. He was q
member of the Convention thai
nominated the candidates and made
the platform; he cannot shirk respon-
sibility for either. If he endorses
them, he is not entitled to the vote
of a laboring man in the State. If hi
refuses to endorse them, he will lose
the support of his party. He mus
take one horn or the other of this
dilemma, and either will be fatal to his
hopes.
Nothing, in my judgment, would
more surely promote the general
prosperity of Missouri than the build
ing up within her limits of a great
manufacturing industry. Every nat
ural resource invites the building
here of factories. Our wealth of raw
material, our wonderful mineral re.
sources, our central location for pur.
poses of distribution, our salubrious
climate, our vast beds of coal, the swift
streams of our southern counties wait
ing to be harnessed, the variety and
plentitude Of II agricultural products
cheap food, all are invitations to the
manufacturer to make this his home
Why does he not accept? Why are SC
many articles, necessities of our daily
life, which could be manufactured Out
of our raw material, imported from
other states and we compelled to pay
the cost, both of the transportation
of the raw material to the factory
and the finished product to oul
homes? The answer is the manufac,
turer already has his money invested
in plants in eastern states, and Sc
long as under a protective tariff he
can crush out competition by com
bination, he can compel the customer
to pay these additional costs of trans,
p~ortation without reduction Of his
profit. Already protected from for
eign competition by 1900 miles o.
land and 5000 miles of water, Mis-
souri, has everything to gain and moth
ing to lose by a reduction Of duties
Every dollar that we pay beyond
what is necessary for government
revenues is not only IN unjust burden
upon our citizens, but a premium t.
the eastern manufacturer to proven
the upbuilding of Missouri industries.
Low TAXES, LARGE COMMERCE
WANTED.
Taxation and commerce are the two
great problems of government, and til,
duty of craftsmanship is to keep on
at the lowest and the other at the high
est level.
Ali parties admit that to support tn,
great expense of the national govern
ment we must maintain tariff duties
The Republican party contends that il
fixing such taxes the purpose SHOULD
be to protect manufacturers with reve