The Detroit times., 1908-09-23

pubheanss viii ind II hard to an
swer. IL Mr.. Roosevelt and Mr..
TAFT together could not prevent a
panic last fall how do you know
that Mr.. Taft can prevent one all
alone when Mr. Roosevelt goes TO
South Africa?
Now there is only one way In
which they can throw that last
falls panic on the Democratic
party. ! expect that In q few
weeks now you will hear these Re-
publican spellbinders describing
this I&njc of last fall as an an
ticipatory panic. a panic that came
In anticipation OF my election.
IF they offer that excuse, here
is my answer; they have never
accused us of having more than
one panic In each administration,
and as we have had our panic al
ready why not go ahead now and
get the benefit.
On Trust Question.
The parties differ also on an
other question. My friends, the
Republican party is In favor OF the
regulation Of trusts and the Demo-
cratic party is In favor OF the ex-
termination OF the principle of
private monopoly. I need hardly
tell this intelligent audience that
we have no reference TO patients.
for patents are In the very nature
monopolies and they are granted
In return for benefit which has
been conferred on society. We
believe that II Is better to prevent
the creation Of a monopoly than
to create IL and then spend your
time trying to catch 1t and regu-
late Il.
I'VE insist upon the enforce
ment OF the criminal law. The
president has been In now for
several years and while | have
tried to commend every good
thing he has said or done, have
pointed out time and time again
that In seven years this strenuous
president has not yet succeeded
In dragging one trust magnate to
the prison doors. And, my friends,
IL man like Mr.. Roosevelt has
not been able to follow Republi-
can ideas and do that, how do you
expect a man like Judge Taft TO
put a man In the penitentiary
where Mr.. Roosevelt has failed?
1T is not time to say, as the
Democrats say, that God never
made a man good enough to stand
at the head OF a private monopoly
and decide without appeal what he
will charge for that which the
people must have and which he
alone can furnish?
Plan Of Regulation.
"Our plan Is, first. to prevent
the duplication Of directors. We
say that competing companies
should not be permitted to stine
competition by electing the same
men az the directors OF all COM
panies, and we have a plan that
believe TO be effective. II is
like this: Until q corporation en-
gagged in interstate commerce Is
selling ont-quarter OF the entire
product in which 1t deals. the fed
eral government need not take no.
tice OF It. But when 1t reaches
that point 1t Is large enough to
bear watching and our plan brings
1t under the supervision of the
federal government at that point,
and then the government watches
1t while It grows, until 1t reaches
30 per cent And when one cor
poration Is selling to half the peo-
. PIE OF the United States and sup
plying half the product In which
II deals, we think for the protec-
ton of the country the laws
should say. Thus far shalt thou 60
and no farther
And while 1t is growing, we
would place restrictions upon II
foor the protection OF the public,
and one Of the restrictions we
suggest in our platform Ia, that
when a corporation Is growing
from the % per cent limit to the
80 per cent limit, II should be
compelled to sell TO all purchasers
everywhere at the same price, due
allowance being made for the cost
of transportation.
On Bank Guarantee.
But, my friends, there is an
other question Our plan Is to
make all banks stand back of each
bank by raising from banks
fund sufficient to guaranty the de-
positors OF failed marks. l don't
mean to say that all banks are
unsafe. On the contrary, think
can say that nearly all banks are
good. The only trouble Is that
you cannot tell which is the bad one
until a failure comes, and then IL
is too late.
Now, II the banks will agree
to have a notice posted on the
outside OF the dead banks saying
that this bank will fail within a
year. so that people will have no
tice, we will not insist on the
guarantee OF deposits. But they
don't do that. Every bank tells
the men who come there that IL
Is safe, that they can get their
we believe that this time has
come to compel them TO make
their promise good, and TO give
the protection which they all as
sumo the depositor has. Have we
that protection today? Let me
give you evidence that we have
not.
THE postmaster-general recon-
mended postal savings bank.
Why? He said millions are sent
abroad every year to be deposit
ed in the savings banks Of Europe
because the men who sent the
money abroad did not have SUM-
cient faith in the banks OF this
country.
Every time panic approaches
people begin to draw money out
of the banks. II there Is a rumor
that a bank Is shaky. the deposit
ors Immediately go and shake the