Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1908-09-23
MAGNITUDE of Cannon's Fortune Invites Query

would be machinery for inspection
would lead to sounder banking
So much for a Republican secretary
of the treasury. Comes now Re
publican comptroller of the currency
under Mckinley. Charles G. Dawes,
one of the leading financiers of Chi
cago. This is what he had to say about
q bank guaranty system in book he
wrote some years ago before it be-
came an issue on which his party and
mine split: 1T must certainly be adj
mitted the establishment of such
fund would have tendency to pre-
vent the mad rushes of small and large
depositors during times of panic for
money which they hoard away in safe
| ty deposit boxes or other hiding
places. If the effect of such a
| law would be to render bank deposits
more stable under all conditions, as in
our judgment would be the case, no
| law could be of more value and i'm
| portance to the debtor or to the cred
itor or to the community at large.
To the passage of such a law in proper
form we trust the efforts of congress
will be directed"
| Former Secretary Gage, having at
tanned very advanced years, is out OF
| financial operations and of politics.
Mr. Dawes is still in both. Unless he
has materially changed his opinions
he should look with some aversion
upon the Republican party policy of
discrediting this very plan for render
ing bank deposits more stable.
How Money Comes and Goes.
The cost CT a political campaign for
lexpenses which in the main nowadays
are legitimate runs up into the hun
dreds of thousands of dollars. When
Is, O0OO 900 or 20,00O,000 documents have
to be printed and distributed, when
400 or 500 speakers must be kept trav-
cling continuously without the aid of
that bygone and obsolete blessing, the
railroad pass: when material must be
sent to a multitude of newspapers and
many of them, usually printed in for
eign tongues, must be given benevolent
aid and assistance. the cost of Il cam
paign, like the cost of the Boer war,
is enough to stagger humanity. The
Democratic party has never been over
rich during it's campaigns. 1t has al
ways had TO economiZe and has never
been able to spend money for illegiti-
mate purposes even if its managers
desired to do so. 1t is Il matter of his
tory that may now be told that the late
Senator james X. Jones of Arkansas
when chairman of the Democratic ma
tional committee in 1896 returned tc
its donor a check for $4,000 that
reached the headquarters three days
: before election. ut was too late fol
use legitimately," said Chairman Jones
land We have no desire to use money
lillegitimately" In that campaign the
Democratic party had about $9OO,0O(
in its national treasury. The Republic
an national committee is credited will
having anywhere between SS,OO0.00(
and S10.O00,00O. In 1900 the Demo
lcratic national committee received
roughly speaking, about $4,000. L
made an active and a creditable cam
paigu. though the issue. of course, wa!
defeat. Yet SO carefully were TIT
finances of the committee handled tina
: |, at the end of the campaign $4,000 re
manned in the treasury to be turned
over to the new national committe
: selected In 1904.
Raising Campaign Funds.
t This year both parties confront
e new situation when the matter of rails
II ing funds is to be considered. Partl
e through state laws. partly through