The San Francisco call., 1908-09-27

ing campaign enoeC mere tonlgnL Win
the delivery of his views in favor of
postal savings banks and in opposi
/ ton to the Bryan theory regarding
/ government guarantee of bank de-
posits.
I Taft made answer today to the crit
icism of himself by Senator Foraker
He had recommended Judge Doyle, a
private individual, for appointment as
Judge, because of Doyle's great pro-
fessional attainments and high char
acter In doing so he explained to the
president that Doyle had acted as at
torney for the Standard oil company
and other corporations. The president
had chosen to appoint Judge Taylor
instead.
As to Foraker. Taft commented that
he argues that this is a justification
for him while senator of the United
States, while accepting professional
employment from the Standard oil
company and in making what was in
effect a newspaper partnership with
the Standard oil company to control
an organ of public opinion"
AS to the second charge of Foraker
that Taft rode to Middle pass in the
private car of Lewis, and on the
alleged glass trust, Taft declared that
he used a private car which he paid
for and that the boat he rode on was
that provided by the Middle Bass
club, whose guest he was at the time.
TWELVE SPEECHES DELIVERED
After a night ride from Des Moines.
the days work was begun early this
morning at Cedar Rapids and contin
ued northward up through Iowa into
Minnesota and ending with mammoth
meetings at the Twin Cities tonight.
An 10
by Taft, each to a decidedly larger
audience than could hear him. al
though there was a noticeable i'm
provement in his voice during the day.
In Iowa the train was accompanied
by local committeeman and congress-
men from that state and in Minnesota
the speakers list was augmented by
Senator Clapp, congressman Davis,
Stevens, Tawney and Steenerson and
Jake jacobson, republican candidate
for governor, besides large number OF
local politicians. The big meeting
came at the end of the day at ST. Paul.
The candidate was taken to the Audi
torium, the largest assembly hall in
the city, where he delivered a brief
speech on the general policies of the
republican party.
SPEECH ON BANKING PROPOSALS
The St Paul stop occupied more
than an hour, when the journey to
Minneapolis was made. Here, too. the
meeting was held in the auditorium.
the capacity of which was taxed to the
utmost. Elaborate arrangements for
escorts, bands and automobiles We're
carried out in each city and political
enthusiasm was at a high pitch.
Speaking here in favor of postal
saving banks and opposing Bryan's
guarantee plan, Taft said in part:
1 wish TO call your attention today
and to a plank in the democratic plat
form which involves important though
not controlling issues in this cam
paign
refer first to the plank in the re-
publican platform that recommends
the adoption of postal savings banks.
The republican convention doubtless
had in mind the bill which had been
introduced In the senate and reported
by the senate committee for passage,
authorizing and directing the post
master general to receive savings de-
posits at every money order Office and
at such other Offices as he may desig-
nate, in sums Of 81 or more and null
tfples of 10 cents after the first dollar.
The objection has been made that
this bill is paternalism and socialism
and is introducing the government into
the banking business. The objection
is without weight. If there were saw
ings banks in all the country as nu-
mefous and as easy OF access as they
are in Massachusetts, in the New Eng
land states and in New York, it might
be said that the postal savings bank
was an invasion of territory properly
occupied by private enterprises. al
though even then IL could be pointed
out that the function performed by the
postal savings bank is much more
comprehensive than that of the ordi-
nary savings banks.
SAVINGS BANKS NEHDED
But when it's considered that in only
4 Of S5 states are there savings bank
facilities. when IL is known that in the
middle west, east of the Rocky noun
tains, the average distance from any
postoffice to a bank of any kind is
30 miles and west of the Rockies is So
miles, IL can be readily understood that
the private enterprise does not sup
ply the need of savings banks, which,
in order to furnish a motive and op-
portunity for thrift and savings, should
be easy of access to the class whose
welfare 1T is thought thereby to i'm
prove
OF the $500 0Oo, 600 deposits in saw
ings banks 3s per cent is in New Eng
land, 3S per cent in New York, 81 per
cent in Pennsylvania, Ohio Illinois,
Iowa and California, leaving but per
cent Of the total in other states
We should not deny to our people
throughout the country opportunity to
make the small deposits with the Sc
curlty OF the government promise to
pay principal and interest. Such a sys-
tenn will add greatly to the money
savings or the country.
OTHER BANKS NEED NOT FEAR
The fear by any class of banks that
this would interfere with their busi-
ness the experience in other countries
mas shown to be utterly unfounded.
Where savings banks are established
they pay a higher rate of interest than
the government will pay for deposits
in the postal savings banks, and con-
fer privileges on their depositors which
1t would be impossible to grant under
government system.
significant fact in connection with
the postal savings banks of those coun-
tries where they have been most sue
positors of the postal savings banks
abroad are minors and two thirds of
them are workingmen.
The postal savings banks would per-
form a most useful function in case of
panics because they are government in
stituttons with the whole credit of the
government behind them. and would
attract the deposits of those small de-
s--S>-~~~>~~~>~.~~~~~~~ ~~~~~~~~~~.~~->>>>~1
as a party asset for the advancement
tege, Believing that the president
Iehould not be tempted to use that
power for his own advantage. and ii is
equally repugnant to the spirit of our
| institutions that he should use it for
any one else's advantage. I tried to se-
cure an amendment to the constitution
limiting the president to a single term
ana have announced in three campaigns
that II elected ] would not be a candi-
date for denomination. l believe the
occupant OF so high an office, with such
1a1