The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1908-03-31
CURRENT TOPICS AT CAPITAL
JOHNSON..THE ALDRICH BILL

Grover Cleveland In 1892 are the
forces behind him They are the .
forces in the democratic party which f.
stand for its destruction once they
won with Cleveland, thereafter they F.
refused to allow any one else to win, I.
and when put in the saddle for the F.
second time with Judge Parker, in .
nicted on the party its most colossal /.
defeat Coy. Johnson able and admir-.
able as he may be personally. should .
beg to be delivered from his friends.
The Aldreh Bill Passed.
Forty-two members of the senate of
whom three were democrats voted for
the Aldrich currency bill Sixteen
senators of whom five were rcpuhli-
cans voted against IT, Apparently the
measure was acceptable to neither the
democratic or the republican side of
the chamber. 1t had been very ma
tcrally amended, as the proposition
for the use of railroad bonds as the
foundation for circulating medium
was stricken out. Even without this
provision, however, the impression is
that II will be law very satisfactory
to the banks. Practically it permits
them to issue emergency notes based
on United States bonds which of
course they can already do and certain
municipal bonds. The latter proyis-
ions are the ones which will greatly
appeal to the country banker.
The democrats in the senate have
been almost a unit in opposition to
the bill. They have stood in themain
with the proposition that If emergency
currency was necessary the govern
ment should stand for it. That was
the measure proposed by Senator
Bailey and urged in his absence by
Senator Teller. The republicans whose
votes against the bin attracted most
attention were Senators Bouren and
Hepburn Senator LaFollette voted
against it, but his position on the
rights of the nation were so well
known that his vote was expected and
created no sensation. Senators Teller
and owen ON the democratic side
voted for 1t, both explaining that the
| bill was utterly unsatisfactory, but
that some measure for an emergency
currency was necessary. Senator Gore
/ - Trio tn nnnnnI tho hill
so as to include beside the securities
which banks take, cotton, warehouse
receipts or grain elevator receipts as
basis for circulation. 1t is needless
to say that the amendment was voted
down by strict republican vote
Though the republican party always
looks to the country and TO the farm
er Tor its majorties.
The end OF this bill is not yet. II
may be forced through the house by
the hard hand of the speaker and the
committee on rules. That it will be
amended to some extent there Is no
doubt It's bankers bill made by the
| party OF luc Dduhbi anu llob NNNA '''N
isfactory to the banks themselves. The
party in power having attempted to do
all that it could for the banks and
feeling it necessary to do all that 1t
might in order to placate the voters
has succeeded in putting out measure
which will be equally unsatisfactory
TO each side The bankers pleaded for
an emergency currency, which should
be based upon the assets of the banks
whatever those assets might be. The
depositors and the people in general
felt that the banking record for the las
year has not indicated SO thoroughly
the wisdom OF the bankers in selecting
their assets as to justifying their is
suing circulating notes based thereon.
The republican powers in the senate
have tried TO formulate a measure
which will be acceptable to both sides
and have probably drawn one which
will he accountable to neither.