The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1908-10-14


funds for speculative enterprises would
increase, and that the losses which the
honest bankers would be required to
make good would increase correspon-
dinghy.
This burden will fall not merely upon
the stockholders of the banks, but
upon the depositors also. Much bank
ing capital would inevitably be driv-
en- out of the business and such as re-
manned would have to make good its
losses by reducing the rate of interest
to its depositors and increasing the
rate of interest upon loans
The profits of the banking business,
like those of the merchant, the manu-
facturer and the farmer, depend upon
good management. The attempt 10
make all the profits of good manage
ment bear all the losses OF bad man
agement is a step in the socialistic pro-
cess which would level all distinctions
between thrift, enterprise and sound
judgment on the one hand, and reck-
lessness, incapacity and failure on the
other.
SCHEME is IMPRACTICABLE.
Except for campaign purposes there
is no occasion for any such scheme.
The business men OF the country need
no guarantee of bank deposits. They
know with whom they are dealing
when they select a bank for depo-
sits and their intelligence and knowl-
edge of affairs are amply sufficient for
their own protection in making the
selection The wage earners of the
country, the multitude of people OF
small savings, not familiar with bust
ness, so far as they live in places
where there are savings banks, have
practically perfect safety for their de-
posits and over eight and half mill
| lion of them are enjoying that safety
now with a good rate of interest.
| For them, if they prefer it, and for
all who live in places which are not
accessible to savings banks, the re-
| publican party proposes that the gov
eminent shall furnish absolute secu-
rity through a postal savings bank, so
that the wage Garner can deposit his
savings at the nearest post office and
have the guarantee of the government
that it shall be returned; but that
guarantee will be accompanied by the
possession and control of the money
| hn
nor the government can lose.
The republican party believes in the
regulation of railroads. 1t believes
that their managers ought to be made
and can be made to obey the law. It
believes that by an enforcement OF
the law, not spasmOdic and sensation
al, but steady, firm and persistent, eX-
cessive and discriminating rates can
be stopped; and it is now and has
been for a considerable period engaged
in such enforcement with marked etti-
cheney and success.
Mr.. Bryan does not believe in the
regulation of railroads. He does not
believe it practicable. He regards 1t
as bound to fail, although he is will
| ing to criticise the republican party
for not accomplishing that vast and
complicated task all at once.
The apostle of the doctrine that the
| functions of government should be
confined within the narrowest posi-
BILE limits was Thomas Jefferson, whose
disciple Mr.. Bryan today processes to
l, l.;
democratic party continually resisted
| the extension of governmental func-
lions.
Yet Mr.. Bryan, while inscribing the
name of Thomas Jefferson upon MS
standard, seriously propose that the
feeral government shall NOS merely
regulate the operations of railroads
which are engaged in interstate COM
merce. but shall acquire and own ana
operate itself all the great railroads OF
the country.
Add to that Mr.. Bryan's proposal
that no great interest business snail
be transacted-and all great business
is interstate business-without the
permission of the federal government
evidenced by a license, and you can
not fail to realize that he is prepared
to see the state dwarfed into insight
ficance and the farmer the miner, the
manufacturer, the merchant all indiVi-
dual enterprise, not merely subject to
government restraint against wrong
doing, but dependent upon the govern
ment, and upon a centralized govern
ment at Washington to their very ex-
istence.
That is not reform; it is revolution
It is reversion to the ideas of paterna
government from which America hat
hnnr,il,, necnnad with her system Oi