Waterbury evening Democrat., 1908-07-28
Maintenance of Full Power of csurts
 Necessary to Avoid Anarchy.

The administration of justice lies at the foundation of government The maintenance of the authority of the courts is essential unless we are pre- pared to embrace anarchy. Never in the history of the country has there been such an insidious attack upon the judicial system as the proposal to interject jury trial between all or ders of the court made after full hear. ing and the enforcement of such or ders.
 The Currency System.
 The late panic disclosed lack of elasticity in our financial system. This has been proyislonally met by an act Of the present Congress permitting the issue of additional emergency bank notes, and insuring their withdrawal when the emergency has passed by a high rate of taxation. It is drawn in conformity with the present system of bank note currency, but varies from 1t in certain respects by authorizing the use of commercial paper and bonds of good credit, as well as United States bonds, as security for its redemption. It is expressly but temporary meas urc and contains provision for the appointment of currency commission to devise and recommend a new and reformed system of currency. This inadequacy of our present currency system. due to changed conditions and enormous expansion, is generally rec ognized. The Republican platform well states that we must have more elastic and adaptable system to meet the requirements of agriculturists. manufacturers, merchants and busi- ness men generally, must be automatic in operation, recognizing the fuctua. tlons in interest rates," in which every dollar shall be as good as gold, and which shall prevent rather than aid financial stringency in bringing on panic.
 Postsl Savings Bank and It's Advan.
 tages.
 In addition to this, the Republican platform recommends the adoption of a postal savings bank system in which, of course. the Government would be- come responsible to the depositors for the payment of principal and interest. It is thought that the Government guaranty will bring out of hoarding places much money which may be turned into wealth producing capital, and that it will be great incentive for thrift in the many small places in the country having now no savings bank facilities which are reached by the Post Ofice Department. It win bring to every one, however remote from financial centers. place of per feet safety for deposits. with interest return. The bill now pending In Con | gress, which of course the Republican Convention had in mind, provides for the investment of the money deposited in National banks in the very places in which 1t Is gathered, or as near thereto as may be practicable. This Is an an. swer to the 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 it cannot be regarded longer as new and untried experiment.
 Objections to Democratic Proposal to
 Enforce Insurance of Bank Deposits.
 The Democratic platform recommends tax upon National banks and upon such State banks as may come in, in the nature of enforced insurance to raise d guaranty fund to pay the de- positors of any bank which fails. How State banks can be included In such scheme under the constitution is left in the twilight zone of States rights and Federalism so frequently dlmming the meaning and purpose of the prom ises of the platform. If they come in under such system, they must neces- sarily be brought within the closest National control, and so they must really cease to be State banks and be- come National banks.
 The proposition Is to tax the honest and prudent banker to make up for the dishonesty and imprudence 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 de- posits under such system on the faith of the proposed insurance; as in Its present shape the proposal would re- move all safeguards against reckless ness fin banking, and the chief, and in the end probably the only benefit would accrue to the speculator, who would be delighted to enter the banking busi- ness when 1t was certain that he could enjoy any profit that would accrue. while the risk would have to be as- sumed by his honest and hardworklng fellow. In short, the proposal is who'll ly impraetlcable unless 1t is to be &C., companied by complete revolution in our banking system. with a supervision so close as practically to create a gov ernment bank. If the proposal were adopted exactly as the Democratic plat form suggests. It would bring the whole banking system of the country down in ruin, and this proposal is itself an er- cellent Illustration of the fitness for national control of q party which will