Waterbury evening Democrat. [volume] (Waterbury [Connecticut]) 1903-1917, 1908-02-13
RIDER ON MONEY BILL.
La Toilette Pins Antirai|road
Clause on AIdrich Measure.
RAYNER BLAMES ROOSEVELT.
Maryland Senator Says President Was
to Some Degree Responsible For Re-
cent Financial Panic-Urges Jail In
stead of Fines For MaIefactors.

cent Financial Panic-Urses Jail In
stead Of Fines For MaIefactors.
Washington, Feb 13. - Senator La
Toilette has placed bur under the
saddle for those who are managing the
progress of the Aldrich currency bill
through the senate. He has called up
and attached to it as rider his bill
providing for the physical valuation of
railroads by the interstate commerce
commission. r
This bill by the Vaccinations of the
senate majority leaders was slumber.
ing peacefully in the committee of in.
terstate commerce and promised so to
repose when the alert and resourceful
Wisconsin senator saw chance to get
"hitch behind"
La Follette's position is all the
stronger for the fact that the president
In an emergency message to congress
urged the passage of the bill. 1t was
sidetracked all the time because, it
was said, there would be no use in
passing bill providing for a physical
valuation VI railroad properties with
out providing an appropriation to make
the law effective, and the president did
not suggest an appropriation for the
work. Senator La Toilette is prepar-
ing an exhaustive argument in favor
of the bill.
Senator Aldrich, aided by Senator
Allison, succeeded in dividing the
Democratic senators into two factions
on his bill. He accomplished the task
easily and later apologized gravely to
Senator Taliaferro for placing him in
an awkward position before his col
leagues on the Democratic side.
.Aldrich has been waiting quietly for
an opportunity to divide the opposi-
ton. His chance came when Senator
Rayner Md attacked the finance COM
mittee for removing the clause in the
original bill requiring all national
banks to keep 10 per cent of the
amount of deposits on call in the
vaults of the banks at all times.
Senator Rayner insisted that this
change in the bill made 1t absolutely
useless and began an argument to
show that 1t was necessary for banks
to keep supply Of ready cash ON hand
at all times to meet emergencies.
Mr.. Aldrich at this point declared
that he thought 1t was unfair to criti-
else the Republicans for this change in
the bill since Senator Taliaferro Fla.)
was responsible entirely for the
change.
Senator Rayner then made caustic
remarks as TO Taliaferro's reasons for
urging this change and declared that
1t seemed strange that the senator
from Florida, Democrat, should have
been able to influence the eight Repub-
licans to agree with him.
Senator Rayner in the course of his
speech criticised Roosevelt and insist
ed that the president was to some de-
gree responsible for the panic i'm Oc-
tober and November last. He describ-
ed the remedies suggested by the pres
ident as dream that a dreamer
dreams he is dreaming" Continuing
his attack upon Roosevelt, he said:
'The president Of the United States
has, with the best intentions, uncon- !
sciously contributed to the misfortunes
that have oyertaken us. He has sug.
gested one after another remedies ut
terly impossible of accomplishment by
the federal government.
From the violent fervor Of his ut !
terances there is an idea running
through the public mind that he has
come TO the conclusion that every man |
engaged In a large business enterprise |
Is malefactor and that every good
citizen Of the land ought to spend at
least one term in the penitentiary.
Men in honest and legitimate voca-
tons are possessed Of constant fear |
lest some new volcanic disturbance /
from the laboratory Of the
presidents prolific mind take place at 4
any day that will paralyze the business
industries OF the country.
"Malefactors should receive penal
punishment and a whole generation
Of innocent people ought not to suffer
for the sins Of their oppressOrs. One
day of Imprisonment would do the I
work better than all the heaviest fines
that can be levied upon the institu-
lions they represent.
Take the capitalization Of the rail-
roads. | have no objection whatever
TO this plan. but after the capitaliza-
ton. then what VIII you do with your
Innocent stockholders and bondhold-
arsi How win you separate and dis
tinguish the watered issue from the
awful capiiall What can the fed
eral government do with those who
have honestly and innOcentiy acquired
their invcstmentsf II can tprrify
hem. and that is about all that il has
lone.
The diagnosis Of the president 4
correct. hut in most Of the IN
stances he cites his remedies are ei-
-. II