The morning journal-courier., 1908-07-29

criticism contained in the democratic platform that under the system the money gathered in the country will be deposited in Wall street banks, The system of postal savings banks has been tried in so many countries successfully that 1t cannot be regard ed longer as a new and untried ex- pertinent.
 Objections to Democratic Proposal to Enforce Insurance of Bank Deposits. The democratic platform recommends 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 de- positors of any bank which falls. How state banks can be included In such a scheme under the constitution Is lelt in the twilight zone of states rights and federalism so frequently dimming the meaning and purpose of the promises of the platform. If they come in under such system, they must necessarily be brought within the closest national control. and so they must really cease to be state banks and become national banks.
 The proposition Is to tax the honest and prudent banker to make up for the dishonesty and lmprudence of others, No one can foresee the burden which under this system would be imposed upon the sound and conservative bank CTS 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 depos- It's under such a system on the faith of the proposed insurance; as in its present shape the proposal would re- move all safeguards against reckless ness in banking, and the chief, and ir the end probably the only benefit would accrue to the speeulator, who would bC delighted to enter the banking business when 1t was certain that he could en. Joy any profit that would accrue, while the risk would have to be assumed by his honest and hardworking fellow. IT short, the proposal Is wholly imprac tlcable unless 1t Is to be accompanied by a complete revolution in our bank ing system, with supervision so clost as practically to create a governmen bank. If the proposal were adopted exactly as the democratic platform suggests 1t would bring the who'll banking system of the country down II ruin, and this proposal is itself an ex cellent illustration of the fitness fo national control of a party which vii commit itself to a scheme of this na ture without the slightest sense of re sponsibility for the practical operation of the law proposed,
 Postal Savings Banks Much to D,
 Preferred.
 The democratic party announces it adhesion to this plan. and only recon mends the tried system of postal say ings banks as an alternative if the nev experimental panacea is not available The republican party prefers the pos tai savings bank as one tried, safe, an, known to be effective, and as reachin many more people now without bank ing facilities than the new system pro posed.
 "Voluntary Plan for Guaranty"
 "A plan for guaranty of deposit by the voluntary act of the banks ir volved has been favorably reported , the house of representatives This is course entirely different from II scheme in the democratic platform emitting as 1t does, the features compulsory participation and goverr mental guaranty. This proposition wi unquestionably receive the thought, consideration of the national monetar commission
 Republican Policies as to Dc
 pendencies.
 The republican party has pursue consistently the policy originally adopt ed with respect to the dependencie which came to us as the result of tn Spanish war
 Porto Rico.
 The material prosperity of Porto Ric and the progress of it's inhabitants tc ward better conditions In respect { comfort of living and education, shoul make every American proud that tn nation has been an efficient instrumef
 in bringing happiness to million pc pie.
 Cuba.
 In Cuba the provisional governmei established in order to prevent
 bloody revolution has so administere affairs and initiated the necessary law as to make 1t possible to turn back Il island to the lawfully elected office of the Republic in February next. ; Philippines.
 In the Philippines the experlmel of a national assembly has iustiiit ], itself, both as an assistance in Il government of the islands and as : education in the practice of self-go : ernment to the people of the island We have established a governme with effective and honest executi departments, and clean and fearle administration of justice; we ha' created and are maintaining a con prehensive school system which is e , ucating the youth of the islands : English and in industrial branche we have constructed great gover : ment public works, roads and ha : bors; we have induced the prlva : construction of eight hundred mil . of railroad; we have policed the : lands so that their condition as to la and order is better now than 1t ey : has been in their history. It Is qui unlikely that the people, because the dense ignorance of 90 per cen will be ready for complete self-go , ernment and independence before ty generations have passed, but the pc Icy of increasing partial self-gover ment sten bV step as the peODlp Shf