The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1908-07-31
TAFT ACCEPTS THE
REPUBLICAN NOMINATION
Continued from Sixth F,age).

Sixth F,age).
1t cannot be regarded longer as a new
and untrfed experiment.
Objections to Democratic Proposal te
Enforce Insurance Of Bank
Deposits.
The Democratic platform recon.
mends a tax upon national banks and
Upon such state banks as may come
In, in the nature Of enforced insurance
to raise a guaranty fund to pay the
deposftors Of any bank which fails.
No state bank can be included in such
a scheme under the constitution Is
left in the twilight zone Of states
rights and federalism, SO frequently
dimming the meaning and purpose Of
promises of the platform. If they come
in under such a system, they must
necessarily be brought within the clos
Ise
est national control, and 50 they must
really cease to be state banks and
come to be national banks. The prop
osition is to tax the prudent and hon
est banks to make up for the impru-
dence OF others. No one can foresee
the burden which would be Imposed
upon the sound and conservative bank
ers Of the country by this obligation
to make good the losses caused by the
reckless, speculative and dishonest
men who would be enabled to secure
deposits, under such a system on the
scheme Of proposed insurance. In its
shape the proposal would remove all
safeguards against ~recklessness in
banking and the chief, and in the end,
probably, the only benefit would &C.
crue to the speculator who would be
delighted to enter the banking bust
ness when it was certain that he could
enjoy any profit that would accrue
while the risk would have to be as
sumed by his honest and hard working
fellowmen. In short, the proposal Is
impracticable, unless 1t is to be ac-
companied by q complete revolution
il ou banking system with a super
50 close as to practically create
q government bank. II the proposal
were adopted exactly as the democrat
fc platform suggests, 1t would bring
whole banking system Of the coun-
try down in ruin. The proposal is in
Itself an excellent illustration of the
fitness for national control Of a party
which will commit itself to a scheme
Of this kind, without a sense Of re-
sponsibility as to its practical opera
lion.
Postal Savings Banks Much TO He
Preferred.
The Democratic party announces. It's
adhesion to this plan and only recon-
nends the tried system Of postal saw
ngs bank as an alternative If the new
Experimental panacea is not practical
lie. The Republican party prefers the
postal savings bank rs one tried, safe
md known to be effective and as
'eaching many people now with
banking facilities than any other
A plan for a guaranty Of deposits by
he voluntary act Of the bank involved
las been favorably reported to the
louse Of representatives. This is, of
curse. entirely different from the
cheme in the democratic platform.
uniting as 1t does the features Of
ompulsory participation and govern
aent guaranty. This proposition will
nquestionably receive the thoughtful /,
consideration Of the new monetary
commission.
republican Policies as to Dependent ,
cies. /,
The republican party has pursued !.
onsistentQy the policy originally
with respect to the depen- :
SASAS0 WA4CA C0Al0 W us us StQ0 re- \
nit OF the OBSERVATION-DISCLOSURES.
repetition Of Democratic Platforms
Means Chaos.
The proposition Of the democratic
latform is to turn over the islands as /,
as q stable government is estab-
shed. This has been established. The :
roposal then is in effect to turn them
yer at once. !.
|isconception 40 to Annual Cost Of '
Philippines. i
One misconceptions Of fact with re :
'ect to U Philippine policy is that :
is costing the people OF the United !,
sates . vast annual sum. The ex-
'nses Of the war In the Philippines
ON 1898 to 1902 involved the govern
ent in an expenditure Of less than =
"A, ,000. This was incident to the
ar. The fact is, that since the close
the war in 1902 and the restora- :
IN of order in the islands. the extra
st of the American troops of the Ia
gular army in the islands, together Il
it'll that of maintaining about fonr