Albuquerque citizen., 1908-06-16
FINANCIAL PANIC
PROVES SOUND BASIS
Supremacy of American People
and Faith In Republican Party
Demonstrated by Manner in
Which Recent Disturbance
Was Wedthered.

Chicago, June 16.--The platform as
prepared opens with a glowing en-
dorsement of the administration of
President Roosevelt. 1t shows the
great development of the country un-
der various Republican administra-
tions during the past forty years and
says
Nothing so clearly dem onstrates
the sound basis upon which our COM
mercial, industrial and agricultural
interests are founded and the neces-
sity of promoting continued welfare
through the operation of Republican
policies as the recent safe passage OF
the American people through a finan-
cial disturbance which, If appearing
in the midst of Democratic rule or the
menace of 1t, might have equalled the
financial panics of the past.
1--WE congratulate the people upon
this renewed evidence of American
supremacy and hail with confidence
the signs now manifest of complete
restoration of business prosperity in
all lines of trade, commerce and man
ufacturing."
Continuing, 1t says:
1.-THE people have felt the wisdom of
entrusting to the Republican party
control of national legislation since
the election of Mckinley in 1895.
Many wise and progressive measures
adopted by the recent session of Con-
gress have demonstrated the patriotic
resolve of Republican leadership to
Keep step in the forward march to-
wards better government.
only the obstruction and fiIibus-
tering of the Democratic minority in
the last Congress prevented the enact
ment of a number of measures of
great public benefit, the consideration
of which can be entrusted only to an
other Republican majority. But many
wholesome and progressive laws were
enacted, and we especially commend
the emergency currency bill, the bill
appointing "a national monetary COM
mission, the employers and govern
mcnt liability laws, measures for the
greater efficiency of the army and
navy, widows pensions bill, a model
child labor law for the District OF
Columbia, designed for emulation by
the states, new statutes for the safety
OF railroad engineers aud firemen.
and many acts conserving the public
welfare
The platform declares 'ur revision
or the tariff, approves the emergency
measures adopted by the government
during the recent financial disturb
ance and especially commends the
passage by Congress OF a temporary
enactment designed to protect the
country from repetition of such
stringency only unit rnere can be
established permanent currency
system that will avoid emergencies. Ii
says:
Present currency laws have fully
justified their adoption by the ex-
panding commerce. The marvellous
growth in wealth and population,
multiplying centeTs of distribution, in
creasing demand for movement of
crops in the west and south and en-
failing periodic changes in monetary
conditions, disclose the need of a
more elastic currency and adaptable
system.
such a system must meet the re-
quiremcnts Of agriculturists, manu-
facturers, merchants and business
men generally, must be automatic in
operation, minimizing fluctuations OF
interest rates, and above all must be
IN harmony with the Republican doc
trine, which insists tnat every dollar
shall be based upon, redeemable in
and as good as gold"
Posta. savings banks are also IA
vored.
Washington, June 16.-Secretary
Loeb gave out a statement at the
White House today as follows:
THAT which purports TO be the So
called administration PLATFORM tele-
sraphed from Chicago and published
-his morning, is a mere tentative draft
by one Of the members OF
the resolution committee for submis-
sion To TAFT with a view of securing
his views upon certain planks. A
large part OF this purported platform
was never seen by the president at all,
and a number OF planks contained in
the remainder were subjected to
amendment, verbal and substantial.
This and other drafts were tentative
merely for the information of certain
members OF the resolution commit
tee who were seeking the views
Of various prominent Republicans.