The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1908-06-29
NORADICA[
PLANKSFOR
DEMOCRATS
Money Stake in Community
Causes Nebraska Leader to
Be Conservative
Suggestions for Platform Insist
on Railroad Regulation, Not
Government Ownership
latest Financial Vagary Will Be
Made Chief Issue of Coming
National Campaign
Middle Course viii Be Taken on
@' Tariff Without One Word
About Free Trade
By Raymond

p = SPECIAL DISPATCH TO TIE CALL
:... DENVER, June 2s.-With Bryan
sure to be named for the presidency
and with some eastern man like Gray,
Douglas or Chandler slated for the
second place, chief interest in the dem
ocratic convention just now centers
in the platform. For a wonder, Bryan
is disposed to be conservative, and his
heutenants promise the platform he
dictates will be conservative also.
= Times have changed since 1896,
when rie Nebraska leader was an inn
pecuuieus lawyer. just defeated for
congress- and with no capital but his
own igtft for political oratory. He has
been constantly in the public eye since
then. His Chautauqua lectures and
his paper have made him wealthy, If
not actually rich. He has begun to
have q money stake in the community
emo :his political views have changed.
Brysnss influence on the platform in
1905 is far different from what 1t was
IL sears ago.
J. sim. :I5ahInsan, the cowboy mayor
of Omaha, brought from Lincoln a
rough draft or suggestion" Of plat
form which has been passed around
AMONG the leaders. It does not con-
.tain.;a "a declaration for the government
:. ownership of railroads. When Bryan
Hnn61lsced that doctrine in his speech
IN. Madison Square. garden on his re-
turn. from Europe l. watched the faces
Of the. old democratic leaders in the
boxes and II was easy to see how much
3 they efisapproVed Of the idea. It was
; a distinct retreat from the traditional
democratic doctrine OF state rights, and
men alike Senator Daniel of Virginia,
Henry WattefsOn Of Kentucky and
Clark Howell Of Georgia, at once re-
fused TO accept II as democratic in
any: sense. Since then Bryan has
learned wisdom and the Denver plat
form win be strong on government reg
uFafion =. Of railroads without mention
.fnS. government ownership at all.
gALUA ALTON OF RAILROADS
Tt. is likely some of the Wisconsin
railroad pianks, which Were discarded
at. Chicago. viii be incorporated in the
Denver platform. IT probably will de-
clare for the physical valuation of rail-
roads The Chicago convention, it
viii be. .renembere declared for legis-
lation to regulate future issue of
stocks and bonds by railroads. To do
this viii involve a valuation OF the
actual cash assets Of the roads, but
that was Intentionally omitted from the
Chicago platform The democrats Will
make this plank much stronger. They
will demand an actual valuation Of in
terstate railroads as a means of fixing
rates as well as to regulate future
stock and bond issues in the interest
OF the investing public.
= The chief plank Of the democratic
platform Is to be that which will de-
clare for government guarantee of de-
posfts in national banks. This is a pet
idea, with Bryan and ii is as superficial
and: attractive TO some people as was
the sixteen 10 one theory. This scheme
proposes in the rough that tax should
be laid on all deposits in national banks,
proceeds OF which Will form a guar
sntee fund out OF which the govern
inent viii pay deposjtors of broken
banks at once without waiting for the
slow process OF liquidation.
As"SUPERFICIAL IDEAS
i is an attractive scheme at first
slgpt, ana a man like Bryan might
easily secure large following on
suen| an issue Official figures show
that the percentage Of actual losses TO
oeposlIors IN national banks is sur
prisingly small and yet every one
knows that great distress is ALWAYS
caused by the slow method of realizing
on assets OF broken banks during the
time of liquidation. It often takes
years TO pay back every dollar OF LA
pilities' and small businessmen are fre-
ouently embarrassed, although tbev
have perfectly good claim against .
bank in the hands Of a receiver.
The idea Of paying depositors AT once
out OF a government guarantee fund IS
likely, therefore, TO prove ponnlsr
among that class of people who do not
study the real situation in business
affairs.
Unfortunately for the country. BRYAN
IS one Of that class Of public men who
are wholly superficial. Otherwise he
would never have taken up with the
free coinage idea, nor would he have
held so tenaciously to his is to l faI-
lacy after all the world had seen its
folly. The same absurd process OF
thought viii impel the democratic
leaders TO insert a plank in their plat
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