The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1908-07-09

growing out of their own administers
ton OF the government.
Inc only sort of legislation with any
great force OF public opinion behind 1t
tnat the Republican party attempted
70 enact was bill to prevent the re-
currence of panics. The last panic was
q depositor's panic. brought about by
rear upon the part OF the depositor
tnat ne could not get back his money
which had been left In bank. This
rear was produced by the fact, which
been sending their depositor's money
to risky, IL not unlawful concerns. A
run upon the banks by depositors, not
by note holders, in consequence oc-
CURED. The Republican party has at
tempted to prevent the recurrence Of
depositors' panics by an emergency
bank note bill, in the provisions Of
which they have decreased the security
that the depositor had in a two-fold
way. first by reducing the amount of
reserve required by law to be held, and
secondly, by making the new emergen-
cy notes prior lien upon all the assets
OF the bank, decreasing the security
that the bank had to keep for the de-
positor and increasing the bank nabili-
ties that might be charged against de-
posits. In my opinion it is an accom-
plished scheme to enable banks that
have fioated questionable enterprises to
digest otherwise indigestible securities
by making them the basis OF a ma
tional circulating medium Of exchange.
The future will show whether this mis-
cradle makeshift, part house infamy
and part senate infamy, as great Re-
publican newspaper has said, will an
swer its purpose. Whatever it may
show in the way Of sins Of commission
fault ams Of R eOs oa iesisiatio one
but the evil which it pretends
to cure was altogether and exclusively
the fruit of Republican legislation.
Theirs is the responsibility for the bill.
and theirs also the responsibility for the
condition which led to the enactment
of the law.
Republican Failures.
Thus. my countrymen, in this view
we have the spectacle of a president
urging a refractory congress to pass
needed reform and appealing in vain,
a president for the sake of his own
popularity or for the sake of the
popularity of his own candidate max
ing a political play by urging that
congress do what he must know it
would not do and what we are forced
to consider he did not wish done. The
president stands sponsor for Mr.. Taft.
He desires that the laboring man; that
those who would have the government
effectively regulate the railroads; that
tariff and destroy the trusts; these
should believe that Mr.. Taft is not a
reactionary but a militant reformer,
saturated with his ideas and that he
will carry out my policies" Mr.. Taft
will have to receive about seven mil
lions of votes before he can execute
any policy. To get the votes for him
the president wishes to show what fine
policies his chosen one will carry out
If elected; and he can show it cheaply
H. 1@sw, o. <1,%s I,r.f
his party associates have ignored and
will ignore. If the president were sim
cere and honestly insistent and still
was not needed by his party, notwith-
standing hts great personal popularity,
what reason is there to suppose that
the same party associates will not be
deaf to the same recommendation
| made by one who is merely the presi-
dents legatee? We may inquire here
why the special interests, those en-
joying special privileges. predatory
| wealth-and I think 1 quote Mr..
Roosevelt, who borrowed the words
from a distinguished Democrat-have
all united in expressing eminent salts
The masses and equal rights to all on
the one side or the classes fat on
| privileges on the other-under which
| flag, Mr. Taft? mo man can serve
two masters"
| The press has told us in what SEEM
4
the White House that the president
| was so intent upon his policies that II
congress adjourned without enactine
| them into law he would call an extra
| session. Congress did adjourn leaving
| unpassed most of his favored meas
ures and the extra session was never
j called. If the play results in Repub-
lican votes it will have accomplished
| its purpose. If the president desired
! to have this legislation the Democrats
were ready to join in its passage. The
Democratic leader Of the house. au-
| thorized by all his party associates
repeatedly offered the entire Demo
cratic strength in support of these
measures. The Republicans have less
than sixty majority in the house. II
thirty of them had Joined the Demo
| Gratis all of these measures would
have passed there and gone to Re-
| is concerned less than one-seventh OF
1 the Republicans were NEEDED to change
these recommendations into law. The
| Republican support was not forthcom-
| ing.
| Let us see what could have beer
| done If legislation instead of party
advantage had been desired.
If a part of the Republicans had
| Joined the Democrats in support OF
measures proposed by Republican
| federal judges have hastily thrown
their authority into the scale against
labor would have been regulated by
| law.
| A fair trial in all cases Of direct OF
| constructive contempt of court would
| now be provided by law.
Labor would be exempt from the
prohibition of the Sherman law
against combinations.
| Wood pulp and print paper would
now be on the free list and the present
| tax upon intelligence to that extent
| abolished.
No longer would it be in the power
of one federal Judge. sitting in cham
bers, hearing evidence ex parte. upon
| the allegation that state law Is con-
fiscatory. to suspend it by temporary
| Injunction. A Democratic measure
| that passed the senate at the last ses-