The times and democrat. [volume] (Orangeburg, S.C.) 1881-current, 1908-09-25
SPEAKER CANNON RICH
Magnitude Of His Fortune invites
a Query.
MR. BRYAN CALLS A BLUFFER
Distinguishes Republican Statesmen
Testify That the Bank Guaranty Plan
Is Sound In Prineipie-Use of Money
In Elcctions-Economy Rules In
Democrats Camp.
BY WILLIS J. ABBOT.

In the rather lively controversy be-
tween Uncle Joe Cannon and Mr.. Bry-
an over their respective personal tor
tunes and the sources Of their prosper
ity It occurs TO me that Mr. Bryan has
had very much the better part Of the
argument Without going into detail
on the subject which has been some
what reported in the newspapers al
ready, | may say that Cannon, with
characteristic discourtcsy, rulgaritX
and faISity. in a formal speech refer
red 70 Air. Bryan rs having made ST.
O00.Q3u "by selling wind and printers
ink" Mr. Brrun'S retort reduced Can
non 10 condition of comparative
quictutie. I'araphrased. it was this:
Il earn Il living by lecturing and by
writing. No one need attend my lee
lures or buy either my books o: my
paper unless he desires. Speaker Cam
non has been in public Office since 1851
almost continuously. most of the time
receiving \ salary of bare." $1,000 Il
year. lie Is very rich. What has Mr..
Cannon been Scling?'
Following this statement Mr. Bryan
frankly declared that he thought him
self worth, about $125.G00, but was
willing 10 accept the responsibility o!
S150.0n0 If his estimate was too low.
He challenged Speaker Cannon to
match this statement In kind. The
speaker was silent except by making
hluffing delnand that people look
to the records or Danvi!!e ana see how
fully he pays his taxes there. Natu-
rally this clash aronSed some interest,
and an Investigation was set on foot
in I.incoln. Ncb.. to determine the
amount OF the Bryan assessment. 1t
was found to he SSi500. which under
the taxing law OF that state indicates
property slightly in excess of SlO0.onO.
Then attention was directed toward
Speaker CauNon'S assessment at Dan
vile. His nei.libOrS and closest friends
have always estimated his wealth al
from S:M00C0 to $1.C0un00. But 1t WAS
found that he has scheduled for tayu-
ton only SlI.ll5 III personal property.
while his residence is assessed ut SOL
600. In other words. irNcommon report
concerning his wealth is correct he Is
dolciug his taxes and securing the aS-
sessment of property easily worth
four times That Of Mr.. Bryan at
figure Of barely one-third of that on
the Eryan property
Some Republican Testimony.
This testimony is on the guaranty
OF lmnk depn>itS aud it comes from
very distinguished Republican sources
One is the Hon. Lyman J. Gage.
formc"!y Il Republican secretary OF
the treasury Mr.. Gage testified be-
fore The comn,i'tce on banking in the
house q" rrnrrscat:itiveS. which WAS
considering t!r Fowler I'LL. IIr said:
Il am persuaded that i! is just. equita-
HE. wicc ami ris:! that the depoSitors
of the banks which come "l,ler pro
visions az this lii will have their de-
posits g,raranttpd 10 thc,n rs well :S
the hau';s cifculatin. notes held by
the general pul'lir. The nat7lre Of the
obligation is exactly the same in prin.
cip!e. whether e":lenced by Il PASS
booI, or hy the banks notes in the form
OF circulating nonrv. There is 70 diff
ference in principle"
The ChnirmaM-Do yml think that
this priu ,ipir OF ";'aralicrin" deposits
would lead to uasornd barking?
Mr.. Gagr-NH. Si" think the fact
that under this Ifll there wn,:ld be
greater restrictions and penalty for
ncgiwt af isrsfsnrtihn and that lhcle
would lie machi,rry for INSPECTION
would lead to SouaGrr lrnliinG
So lntteir for Il Republican secretary
Of The treasury Comes ROM Re
publican comptroller OF til" currency
under Mckinley Charles G Dawes.
one OF the lending l:l.ancirrS OF Chi
cago. This is what he had to say about
bauk guaranty system in Il hook he
wrote some years ago before n he
came an Issue on which his party and
mine split: 1t Te,l rerIainly De ad-
mtted the establishment OF such 4
fund would have Il tendency to pre-
vent t!r mad rus,u.S of S,ual aud large
dclOsi;orS dur;ug iin,rS Of panic for
money which they hoard away in safe
ty deposit boxes or other hiding
places IT the effect Of such
law would he 10 render hank dcpnsits
,nore stable in.icr all conditions. as IN
our iudgment would he the ease. no
law could ln nf more value and inn
Nortance to the debtor or to the cred
!:or or to the community II large.
TO tue passage. uf such Il law IN proper
form VIC trust the efforts of congress
will be directed
Former Secretary Gage. hArin" at.
tanned very advanccd years. j. "'t OF
financial operations anl of politics
Mr. Dawes is still in both Unless he
has materially changed his opinions
lie should look with some aversion
upon the Republican party policy "f
discrcditlng this very plan for render
lug bank deposits more stable.
How Money Comes and Goes.
Tho cost Of polilic:. campaign for
expenses which in the Ei:in nowadays
urc legitimate runs rp iHt" tile nun
dvcds Of thousands dt dollars. When
1900. .nuG or oOMmCGO documents have
10 he prinlcd aU.. distributed. when
400 or 5u0 speakers ui:!St be kept TRAY
cling continuously wit,:"ut I'll" aid "f
,h,t hv~o,c and Obsolete hi.SSinw. he