The Washington times., 1908-09-05
G. O. P OPENS FIRE FOR 1908 CAMPAIGN;
HUGHES AND BEVERDGE CHAMPION CAUSE


The pan proposed by the Democratic
/ platform TO provide for a guarantee u
/ ba1k deposits is also open TO serious OBJ
/ lection. Mr. Tart promptly pointed out
( its Weakness, and Mr.. Bryan, despite
/ his skill, has been unable effectively 10
answer his criticisms. The plan pro-
poses to make the honest and prudent
banks meet losses for which they are
| in no way responsible. Mr.. Bryan re-
/ plies that all banking restrictions Op-
crate 10 curtail the freedom OF the
/ prudent because of the dangers arising
from He abuses of others. But II Is
/ one thing 10 put a business under need
, ed restrictions operating imparually ana
quite another TO compel banks 10 n axe
good specific losses not attributable IN
/ any way 10 their neglect or default.
Life Insurance, Too
/ II this plan is a good one for the
/ hanks. why should il not be applied 10
| insurance companies? They are charter
/ ed by the State and are subject 20
|its close supervision. Life insurance. for
example. is one of the essential safe
guards of the home; and the interests
l of the pOliCy-h0lders cannot be too
surely protected. But what would be
thought OF "a proposition 10 compel the
Well-managed and conservative life in
surance company 10 make good the
losses which would be sustained by
those insured IN other companies that
become insOlVent- This would largely
/ deprive the forme- Of the just benefit Of
/ its own conservatism and Well-earned
/ reputation and make easy the efforts
of the INSCRIPTIONS.
! The business OF banking and Insurance.
must be transacted under strict supeTVt-
siOui but those institutions which Oper-
ate fairly and prudentiy within the law
should not suffer either FROM laXIty OF
governmental supervision with regard 20
others or from impTudence and fTauts
with which they have no concern
Cannot Meet Criticism.
Mr.. Bryan tries in vain To meet the
! criticisms that the plan proposed Would
/ encourage reckless and dishonest men.
/ VINO would seek deposits on the faith
| of such an assurance. 1t must not be
forgotten that they do not conduct their
/ enterprises with the expectation of fad
ure nor do they contemplate loss TO the
| depositors; bat deposits are the sineWs
/ of banking enterprise and TO the extent
/ that such a guaranty would facilitate
| them in obta n ns deposits, the oppor-
| tunity for the play OF HlegitimaJe pur-
poses and the temp tdtlJn % indulge
/ sdch 2 rposes would obviously De IN
| creased.
/ 1t may be added that the guaranty
/ fund if il were established on a scale
sufrelen ly large 20 insure the required
prOtecutn n. would furnish difficulties
/ both with regard to its investment and
! It's availability in emergencies.
/ This proposed plan does not meet the
[ demand for an elastic currency system
! through which the monetary wants Of
/ the country may be supplied. To supply
/ such d system Is an urgent necessity
and its provision would UbVldte many 81
I the dangers which have hitherto exist
/ ed; but to make banks pay for losses
/ they have not caused is 10 depart from
/ proper principles ana 10 encourage i'm
proper practices.
Interests of Labor.
! The Republican party has been So
[ Iicitous Of the rights Of labor. Mr.. Taft
is clearly right when he says that mot
since the beginning of the government
has any other national administration
done so much for the cause of labor
by the enactment Of remedial legisIa-
riOn as has Theodore Roosevelt and the
! Republican Congresses elected 10 sit
/ during his term of Office Ana In sup
port OF this assertion ne instances the
Ire-enacted Employers Liability act, the
Safety Appliance acts, the Government
/ Employees Compensation act provision
for the investigation Of mine disasters
and legislation with respect TO child la
Dor in the District of Columbia. He has
exposed the disingeuuOusuess OF the
! plank ia the Democratic platform that
J 'Injunctions should not be issued in any
cases in which injunctiOns would not
issue il no industrial disputes were in
NOlEed, "a Janus-faCed proposal, mean
ing what you like. The Republican party
has taken a reasonable attitude upon
the Injunction question.
+ But more important 10 labor than any
benefits which may reside IN improved
procedure in injunction cases IS the OD-
IOrtInlJy TO work 1t prOuts little 20
I d Warkilgman 10 be told that he VIII
be given the right to trial by jury IN
/ case ne is guilty Of contempt or court,
il those who promise il propose TO enter
upon Iatuous course Of arbitrary IN
reference with trade. The prosperity
of the wOrkingmau fundamentally de-
ponds upon wise conserving ana up
building policies, and demands that eff
forts to reform Industrial evils should
be carefully conceived and prosecuted
without endansering the staDlHIy OF
legitimate business enterprise.
And * is to the Republican party UNI
der its wise and experienced leadership
that we must look in the present ext
geBcy for proper guidance 10 these enGs'
I il is not time for nOstruTns or Tor
the rule OF party which proposes
Senator Albert J. Beveridge Of Indiana
took for his theme the ground that the
= Republican party proposes to continue
constructive work toward the progress
OF the natiCn.
MI Beveridge's Speech.
Mr.. Beverage spoke in part as fol-
lows:
We are midway in an historic move
ment for righteousness written into law.
Shall that movement be carried out. or
wrecked It's concrete expression is the
Roosevelt policies. Shall they be saved
or lost? Had the about-facers in both
lparties who now are pOWerless, succeed
ed they could not have wrecked the
movement bUt only have delayed 1t.
For the peopl,8 would have gathered
lheadway again until their purpose was
worked out.
But extravagan, schemes and emotion
al agitators can wreck IT, The Revolu-
ton would have failed had impracticy-
bic men been il command instead of the
cautious and wise, yet daring and de-
termined, Washing ton.
| The instantaneous statesman writes M
sound laws, works 70 lasting reform.
Aladdin TeaTs luLe but imaginary
palaces.
The Tariff
/ Of the work that remains. the first is
to revise the tariff. The tariff we shall
make will protect American industries,
and also open foreign markets TO Amer
lean products A straight-out revenue
tariff is ancient; a single protective