The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1908-02-21
NOT" DOING THINGS"
ONE MORE REPUBLICAN BOAST IS
PUNcTURED.
Leaders and Editors Alike az Sea as
TO Legislation That Will Save
Country from Ereets OF
Party's 6lunders.


lng unable 20 agree on the necessary
legislation 70 ward OF p@nics. II may
b. well ~r those who are not imam
clers and bankers 10 take interest in
a matter that intimately affects their
welfare There are three plans under
consideration for the reform OF the
currency The Aldrich bill. which
provides for an issue OF emergency
currency. with other than United
States bonds as security and limited
20 $3.50 900 600. which will probably
be amended 10 100000 000. as the
maximum: the plan FOR an asset cur
rencs proposed by the National Asso-
citation Of Bankers. and the general
currency reform measure known as
the Fowler bill There Is no probable
ity OF the Fowler bill being considered
az This secession. for IL includes a prop
osition for the government TO guaran-
Tee deposits in national banks similar
10 the plan advocated ~ Mr.. Bryan.
which is opposed by the majority 81
Doth parties as making the govern
ment a partner OF the national banks
and responsible for all their debts 10
their depOsitors.
The Aldrich bill Is advanced by the
RO'kefeller interests and their finan
ciaI allies. The banks issuing c-rren
cy under its provisions are 10 pay at
the rate o. six per cent per annum on
the amount issued II j. stated by
Mr. Glover OF Washington. who is the
head OF the Riggs National bank. con
trolIed By the Rockefeller interests.
thar III Is not expected a dollar Of
such proposed emergency currency
viii be called for under the act" The
fact that such Law has been enacted
would quiet all uneasiness and cause
an immediate relaxation Of the money
that Is even now being boarded. This
opinion was given out on January p
and vas published in the Washington
Post u the next day.
Rur Mr. Glover also makes some ex-
traordinary disclosures in his state
menr that throw light on The panic and
th- danger there is o. recurrence. He
saws There Is now no further relief
from The United States treasury 20 be
expected. for its resources have all
been exhausted and during the panic
the working balance was actually
down % $4,000 and if the vouchers
which lay on the Official desk had been
signed and presented that balance
would have disappeared.
Unless there IS some means Of
supplying n emergency circulation. y
further declares Mr.. Glover. we are
going 10 run against the same situa-
ton a few months hence. plus the in
ability Of the treasury 10 help. We
wil be going through the presidential
campaign. which. this time. is going
10 shake the country from one end 70
The other What will the bankers do
n congress should adjourn without
providing the means for obtaining this
emergency currency. every banker in
the country would Immediately begin
70 reach out for all the currency he
could get and lock il 10 The scare
we had last October will he duplicated
The banks will cease 20 loan. Enter
prises wiil stop and W will have a
presidential year with a panic. the ex-
tent Of which I will leave to conjec-
ture
These direful predictions BY such a
high financial authority may not be
verified. and perhaps are only put out
20 scare congress into action. The ma
fionaI banks held on deposit on Janu-
ary p. s24s .7s2.01 Of the public
money. and on the same date there
was a deficit Of available cash in the
treasury 20 pay running expenses. No
doubt many vouchers were being held
NJ because Of this lack 81 cash. which
the national banks. where II has been
deposited. are unable 20 repay az this
time On the face OF IL. the Aldrich
bill r. not especially dangerous and
seems the only immediate way 81 re-
lief for the mess the Republican finan
cial policies have brought about
The Republican leaders and or
gans have boosted that they can be
trusted 70 90 things" and that they
know what they want and DO IL. but
the panic seems TO have unsettled the
nerves Of the Republican politicians
and editors alike and they are wal
lowing around In a sea Of uncertainty
with babel Of advisers. all Of whom
declare their plan Is the only one that
will bring relief.
The fact is. no legislation can re-
lieve the banks from repaying the
money deposited with them. short OF
deed Of gift. and nothing can relieve
the United States treasury but receiV-
Ing back this money. unless congress
should reform the tariff and finances
and so bring more money into the
treasury. or issue some more Panama
bonds and keep on issuing bonds.
As a taxpayer and voter how do
you like the prospect. and do you feel
that you can indorse the party that
has brought II about
The feast OF the tariff robbers has
progressed until the nation Is weary
u its blatant defiance and snug self.