Mexico weekly ledger., 1908-09-24

nels OF trade This can only DC done
when the depositor has confidence IN
the soundness of his bank.
Panic is the specter that haunts inc
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 tnat
idea, he rushes to withdraw MS
money, and we are brough. face to
face with all the evils of a suddenly
restricted currency. To remedy this.
the Republican party offers the Emer-
gencv Currency Bill of the last Con-
gress. which permits national banks
10 issue currency based only on their
assets, and gives to the government
a first lien on those assets to reoeem
the currency.
Under this plan every issue OF adj
ditional currency by a bark 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 purchases
this relief at the expense OF putting
the government into the banking Dust
ness and the individual out; m the
funds gathered by the government IN
these Postal Banks will, if present
Republican policies are continued, be
concentrated in central places OF de-
posit. 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, un-
der such regulations and restrictions
as will insure a conservative banking
policy and security of deposits. his
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 in
the additional security to the public.
Business relieved of the fear OF panic
will move forward to assured and
continuous prosperity.
On this important policy the re-
publicans of Missouri are ominously
silent. They fear to adopt a plan
that has not yet met with the APP
proval of the great national bankers,
and they fear TO oppose a plan offer
ing 50 much relief to the average eiti-
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 at.
fairs, yet after all it is the policies OF
the nation that bring prosperity OF
adversely to the. people Of the State
IL 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 thi:
campaign, and we shall not allow Mr.
Hadley to avoid them. He was
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 vot'
Of a laboring nan in the State. II h
refuses to endorse them, he will los'
the support of his party. He mus
, take one horn or the other OF thi'
dilemma, and either will be fatal TO hi
hopes.
Nothing, in my judgment, woult
! more surely promote the genera
, prosperity OF Missouri than the build
|, ing I'D within her limits Of a grea
! 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 salubriou
{ climate, our vast beds of coal, the swit
streams of u southern counties wait
/ ing to be harnessed, the variety am
: plentitude of our agricultural products
I cheap food, all are invitations to tn
e manufacturer to make this his home
E Why does he not accept Why are s.
many articles, necessities of Our dali
n life, which could be manufactured ou
of our raw material, imported fror
other states and we compelled to pa
the cost. both of the transportatio
of the raw material to the factor,
and the finished product to on
homes? The answer is the manufac
/ turer already has his money investe
in plants in eastern states, and $
! long as under a protective tariff h
can crush out competition by CON
bination. he can compel the custome
TO pay these additional costs OF tran.
a portation without reduction of hi
e profit. Already protected from fol
S eign competition by 1900 miles 9
land aid 5000 miles of water, Mi
souri, has everything to gain and notf
D. ing to lose by a reduction of dutie
Ie Every dollar that we pay beyon
is what is necessary for governmer
s. revenues is not only an unjust burde
-e upon our citizens, but a premium
the eastern manufacturer TO prevei
II the u~pbuilding Of Missouri industries,
Ie Low TAXES. LARGE COMMERCE
e WANTED.
y Taxation and commerce are the tw
2 great problems of government. and Il
duty of craftsmanship is to keep OF
at the lowest and the other at the higl
a est level.
a All parties admit that to support Il
y great expense of the national govern
:. ment we must maintain tariff dutie
L The Republican party contends that