The Washington times., 1908-03-09
" Too Bad for Blessing;
Too Good for Curse,
Says Senator From
Texas.
Criticism Incident to At
tack on Currency Bills
Other Than His
Own.

1--WE never before have witnessed
such a mixture OF good and evil In any
public man. Before we have finished
pTaising hiIn for some wise recCmmen-
datiOn, he makes another so foolish that
our praise must turn 10 censure."
In this way Senator Bailey Of Texas
this afternoon. in a speech in the Sem
ate on currency legislation, described
President Roosevelt.
They tell me that he is brave" con-
tinued the Texan, and 1 answer that
he is just as rash as he is brave They
tell me that he is honest, and answer
that he is just as arbitrary as he is
honest. He is
Too bad for a blessing,
Too good for CURSE
! wish IN my heart,
He were better or worse
"If he were much better ne would be
a Democrat, and If ne were little
worse. he would not obscure and con
fuse the great issues between as and
our adversaries."
Bailey defended the President on the
charge OF having brought about the re-
cent panic through his persistent de-
mand for the regulation of railroads.
That charge" exclaimed the Sena-
tor, has been made by men whose
minds are heated with resentment, and
II viii not bear a close analysis. The
President has demanded only that the
railroads Of this country should be re-
quired to deal justly with the people.
and ne has evinced no disposition 70
haTass OF TO Cypress them.
Admits Some Virtues.
The Senator declared that he was no
apolOgist for the President, and said he
shad no patience with the adulation OF
MIN Indulged in by some Democrats.
The good he has done in arousing
public attention TO certain evils OF cor
porate management will give him an
envig bIe place in the history OF his
time" he exclaimed.
And then, not to have his utteranCes
taken as an Endorsement of the "Roose-
welt policies" he added:
But the harm he has done in dwarf
Ing the States. and exalting the General
Government. cannot be measured, and.
unless the tendency which he has set
In motion is arrested ana reversed, our
splendid Federal system Will ultimately
be destroyed. %
Later ne charged the President with
frequently exhibiting a supreme indif-
ference TO the Constitution OF the United
States.
Bailey criticised the Aldrich financial
lil and the substitute offered by his
colleague, Senator CulbersOn, and ad-
E-Ucated the adoption of his own amend
ment, providing for the issuance Of
Treasury notes instead OF national bank
circulation. as an emergency measure.
An issue Of Sl,0J) 100000 instead Of So
pHOl0 would properly meet a crisis, be-
cause the larger the amount of money
that could be put into circulation the
less apt the country would be 70 need
it, he said.
Predicts Central Bank.
He declared that the national banks
were seeking 10 establish q system Of
asset currency, and that they would
strive TO defeat any measure. which
cOmpels them 10 secure their circulation.
lie predicted that if his substitute were
rejected and the bill defeated. Con-
gr,ss would, within the next few years.
either establish a great central bank
Of issue, or authorize national banks as
now constituted, TO issue asset currency.
lie argued that the recent panic fur
Ilshed sufficient evidence Of the danger
CT committing the control over the vol
utne of currency to the banks, and de-
cared that 1t was humiliating to find
t"e secretary begging bankers to take
out additional circulation, and then find
tual the banks preferred an issue of
clearing house certificates. He Charac-
IeTlzed as wholly iudefensible' the pr,l-
vision IN the Aidrich bill repeating the
Irritation on the right Of bankers to
retire circulation.