Gloucester County Democrat., 1908-02-20

| with the president in his fight on law
| breaking capital. he differed with him
| as to the proposed remedies and depre-
Gated his frequent criticisms of corpo-
rations as one of the disturbing fac
! tors. He did not believe that anything.
short of Imprisonment for the maIefac-
tors would ever be effective.
Ia Toilette proposed as rider his
| bill for the physical valuation of rail-
/ roads. which had been pigeonholed in
the committee on interstate commerce.
La Toilette urged that no railroad
bonds should be accepted for security
On currency unless the value and cost,
of reproducing the road should have
been ascertained by the interstate com
merce commission.
| Williams Currency Sill.
What will be known as the minority
currency bill was introduced in the
house by John Sharp Williams, the
Democratic leader. This measure was
the result of a conference with the mi
nority members of the committee on
| banking and currency. The bill pro-
national bank shall not exceed 80 per
cent of the capital stock, irrespective
of discounts; that no national bank
shall lend in the aggregate more than
seven times the amount of its paid up
capital plus its unimpaired surplus.
Violation of these provisions is made
punishable by fine or Imprisonment. 1t
would allow any national bank to keep
so per cent of its reserve in United
States bonds or in the bonds of states
or certain municipalities. and the elias
tic currency feature is contained in
section which provides that these mu-
nicipal bonds may be deposited in the
nearest subtreasury in exchange for
United States emergency treasury
notes. A striking feature of the bill is
the authorization of tax of one-six-.
teenth Of per cent on deposits to create
fund of $15,000,000 to insure the funds
of depositors in case of the failure of
bank. The final section of the bill pro-
vides penalty of fine or Imprisonment
for any bank officer who shall make
loan for the purpose of stock gambling.
Notes.
The house committee on war claims
has reported unanimously bill to re-
imburse owners of confiscated proper
ty in the south during the war, inyoly-
ing possible outlay of $10,OOo,OOO.
In opposing the senate amendment to
the deficiency bill granting $1,S75 to
TOR psa nh hoo f0,.
inland waterways commission Tawney,
in the house, made the point that the
president had exceeded his authority
In creating that commission.
One lone Democrat in the house sum-
moned courage to attack the Bryan
leadership. This was Leake of New
Jersey, who charged Bryan with TAX
ing the "big stick" from the president
and with ''crucifying the policies of
Democracy en- the cross of socialism,
The Republicans applauded this very
enthusiastically. but Kisses came from
the Democratic side.
Chairman Jenkins of the house ju-
dietary committee lectured the Rev. S.
E. Nicholson, who appeared for the
American Antisaloon league to urge
prohibition measures. jenkins told him
that congressman did not want to re-
port bills for the sake of Christianity
or anything else that they knew would
be turned down by the courts. When
the antiprohibitionists were heard by
this committee Feb II Theodore Su-
tro. president of the New York branch
of the German-American alliance, said
that if the law could say what man
should or should not drink it could also
say thou shalt not take mouthful of
mince pie or tumbler of water" 1t
was his belief that as many murders
had been committed by dyspeptics, re-
sulting from mince pie and ice water
as by men infamed to violence by
strong drink
A resolution was offered in the house
by Pou (Dem., N. c. calling for the ap-
pointment of a committee of five to as
certain what corporations contributed
to the presidential campaign funds in
1896. 1900 and 1904
The two resident commissioners of
the Philippine assembly, Pablo Ocampo
and Benito Legarda, have been intro
duced to the leaders of the house and
senate by Secretary Taft and have
been assigned to seats in the house.
They will have the right of debate, but
may not vote or introduce bills.
Stephens of Texas succeeded In get
ting before the house an arraignmeut
of Attorney General Bonaparte for the
action of the department of justice in
dismissing indictments against five III
dian Territory men accused of defraud-
ing the Chickasaw Nation out of $751;
600 by means of false expense vouch-
ers.
EXECUT TIVE