The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1908-07-28
ReturnOf Normal Bust
ness Conditions Is
FOreCaSted by the
Candidate.

tanned in the Democratic platform mat
under the system the money gathered
in the country will be deposited in Wall
Street banks. The system Of postal saw
ings banks has been tried in so many
countries successfully that il cannot be
regarded longer as new and untried
experiment.
The Democratic platform recommends
a tax upon national banks and upon
such State banks as may come IN, in
the nature of enforced insurance 10
raise a guaranty fund to pay the depos-
itors of any bank which fails. How
State banks can be included In sucn
scheme under the Constitution is left IN
the twilight zone of State rights and
federalism so frequently dtmminG the
meaning and purpose Of the promises
Of the platform.
If they come in under such a system,
they must necessarily be brought with
in the closest national control and SO
they must really cease TO be state
banks and become national banks
Tax on Bankers.
The proposition is TO tax the honest
and prudent banker to make up for the
dishonesty and imprudence Of others.
No one can fcresee the burden which
under this system would be imposed
upon the sound and conservative bank
ers of the country by this obligation TO
make good the losses caused by the
reckless, speculative, and dishonest men
who would be enabled to secure depOs-
its under such a system on the faith
Of the proposed insurance; as in its
present shape the proposal would re-
move all safeguards against reckless
ness in banking, and the chief, and IN
the end probably the only benefit would
accrue to the speCulatOr, who would be
delighted to enter the banking business
when II was certain that he could enjoy
any prOfr-that would accrue while the
f-T- frr- 70 "a a Inv
honest and haTdwOrking fellow
In short. the proposal IS wholly i'm
practicable unless it is 10 be accom-
panied by a complete revolution in our
banking system. with a supervision 50
close as practically to create govern
ment bank
If the proposal were adopted exactly
as the Democratic platform suggests, II
would bring he whole banking system
Of the country down in ruin. and this
proposal is itself an excellent illustra-
ton Of the fitness for national control
of a party which viii commit itself TO
a scheme Of this nature without the
slightest sense of responsibility for the
practical operation of the law proposed
The Democratic party announces its
adhesion to this plan, and only recon-
mends the tried system of postal saw
ings banks as ar alternative If the new
experimental panaCea is not available
The Republican party prefers the pos
tai savings bank as one tried, safe, and
many moro people nov With ut banking
facilities than the new system proposed
a plan for a guaranty Of deposits by
the voluntary act Of the banks involved
has been favOrably reported to the
House Of Representative This IS, OF
course. entirely different from the
scheme in the Democratic platform
emitting as il does the features of COM
pulsory participation and governmental
guaranty. This proposition Will unques-
tionably receive the thoughtful cOnsid-
Grafton of the national monetary COM
mission.
As to Dependencies.
The Republican party has pursued
consistently the policy originally adopt
ed with respect to the dependencies
which came to is as the result Of the
Spanish war
The material prosperity Of Porto Rico
and the progress Of its inhabitants to-
ward better conditions in respect 10
comfort Of living and education. should
make every American proud that this
nation has been an efficient instrument
in bringing happiness TO a million peo-
pie.
In Cuba, the provisional government
established in order to prevent a bloody
revolution has so administered affairs
and initiated the necessary laws as IL
make II possible to turn back the island
republic in February next.
In the Philippines the experiment OF
national assembly has justified it
self. Doth as an assistance in the gov
eminent OF the islands and as an edUca-
ton in the practice Of self-gOVernment
to the people of the Islands. We have
established government with effec-
tive and honest executive departments.
end clean and fearless administration
Of justice; we have created and are
maintaining a comprehensive school SyS-
mg-n@ ga- Il
Islands in English and in industrial
branches. we have constructed great
government public works. roads and
harbors; we have induced the private
construction OF 500 miles of railroad
we have pOuced the islands so that
their condition as to law and order is
better now than IL ever has been in their
history. It is quite unlikely that the
people. because Of the dense ignorance
of 90 per cent will be ready for com
plete government and independence
before Two generations have passed, but
the policy Of increasing partial self
government step by step as the people
shall show themselves fit for II should
be continued.
The proposition of the Democratic
platform Is TO turn over the islands as
soon as stable government IS eStab-
Mshed- This has been established. The
proposal then, is IN effect 10 turn them
over at once. Such action will lead TO
ultimate chaos in the islands, and the
progress among the ignorant masses in
education and better living will stop.
We are engaged in the Philippines in a
great missionary work that does our
nation honor. and is certain 10 promote
in a most effective way the influence OF
Christian civilization. II IS cowardlv TO
lay down the burden until our purpose
IS achieved.
Hope Of Prosperity.
Many. unfortunate circumstances be
yond human control have delayed the
coming Of business prosperity to the
islands. Much may be done il this re-
gard by increasing the trade between
the islands and the United States, I'M
der tariff laws permitting reciprocal free
trade in the respective products of the
two countries. with such Limitations
as to sugar and tobacco imported into
the United States as will protect do
nestle interests.
The admission Nof $4,000 tons Of sugar
from the Philippine Islands in foreign
importation of 100000 tons, Will have
no effect whatever upon the domestic
sugar interests OF the United States.
and yet such an importation from the
Philippine Islands. not likely to be
reached in ten years, will bring about
the normal state of prosperity in these
islands in reference to sugar culture
The same thing IS true OF a similar
limitation on the importation Of to-
baccO. tt is not well for the lobflf1nines
TO develop the sugar industry TO such