The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1908-08-24
Postmaster General Makes a
Singing Reply to State
ments of Commoner in,
Past Years.
CUBA READY FOR
SELF-GOVERNMENT.
Governor Magoon, One oY
Taft's Sunday Callers, Tells
Of Good Conditions Existing
On island.

i1ot opiihSS, Nd-- aug. -t-Juoko
Taft had as visitors Sunday Governor
Magoon of Cuba, and Postmaster-Gen-
eral Meyer. The former gave the
presidential candidate some interesting
information about Cuba, and the post
master-general talked over the CAM
paign with Judge Taft and incidentally
gave his views on the postal savings
platform. Governor Magoon. 1t is said.
advised Mr.. Taft that the United States
army would probably evacuate Cuba
this winter.
Postmaster-Genera1 Meyer expressed
himself on the democratic proposition
of guaranteeing national bank deposits
declaring the latter to be "one step
further toward socialism"
Mr.. Meyer believes the greatest dam
ger the party confronts in the East Is
the prevailing sentiment that the elec-
ton of the republican ticket is a fore
gone conclusion. In this connection
he remarked that 1t might be the best
thing for the party If the usual major
ity in Vermont should be materially
reduced. This. he said, in view of tho
September election in that state,
would arouse the republicans to re-
alization that campaign was on.
About eryan's Policies.
Mr. Bryan has been endeavoring to
give the impression that the president
has stolen some of his policies. The
democratic candidate is identified
with free silver the dishonest dollar, a
policy of reputation of national and
private debts and obligations, anti-im-
perialism and government ownership.
Mr.. Roosevelt has never been a free
silver man, has always believed in the
honest dollar. No one would ever ac-
cuse him of anti-imperialism. and he
has been most emphaticaliy against
government ownership, but has con-
tended for government supervision
wherever necessary.
The progressive reforms and prac-
teal policies which Mr.. Roosevelt and
the republican party have put in force
would be gladly claimed by Mr.. Bryan
as his own.
I'm the present campaign the demo-
cratic candidate is bringing forward n
short cut and plausible panacea
against panics, the guaranteeing Of de-
posits in national banks. At first
sight this would appear to be a sort
of insurance. Insurance, however, is
a contract whereby one party volunta-
rily pays another party a fixed sum
for indemnity against loss and not to
exceed an amount agreed upon. The
guaranteeing proposition compels by
law the banks TO pay unknown sums
for future losses, and to an unknown
amount and subject to unknown risks
over which they have no control
THE democratic platform pledges
the party to compulsory guaranteeing
of deposits for all national banks with
its provisions liable for all state finan-
ciaI institutions desiring to use them.
Would Favor Wild Cats.
This guaranteeing of deposits by
all national banks would mean moth
| ing less than that the conservative and
to pay the debts of banks which have
1 been badly and dishonesty managed.
| Under this system there would be
nothing 10 prevent a not oyer-scrupu-
| lous banking officer in the competition
| of obtaining deposits from going to
parties and offering them per cent
for their deposits, claiming that they
/ had no risk as deposits are guaranteed.
| The bank, in turn. would have to
make investments which would involve
great risks in order to make any
money.
"As Mr.. Taft has said in his speech
of acceptance. THE Republican party
| prefers the postal savings bank as a
method tried, safe and known to be
effective. and as reaching many more
! people now without banking facilities
| than the new system proposed In the
| postal savings bank the depositors are
guaranteed by the Government. be-
cause the Government has received
I the deposits and made itself RESPONSE
/ BILE. They are led back into the chan
neIs of trade by depositing them in the
national banks in the districts where
| they have been brought TO the postof
fee.
The system of guaranteeing depoe
its in national banks. as proposed by
the Democratic party. is one step fur.
ther toward Socialism"
cubans Qualified.
Charles z. Magoon, Provisional Cow
ernor Of Cuba, accompanied by his mil
| itary aid, Captain Rogers, spent the