Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1908-02-12
MUST STRIKE ROOT OF EVIL.
Declares Law Pending a DeCep-
ton and Fraud as Relat-
ing to Reserves.
Says Blu az Now Framed VIII Work
In Interest OF Stockholders OF Ma
tional Banks and Against People.

Washington, Feb, i2.--Senator Ray
nor OF Maryland, addressed the senate
today upon the Aldrich currency bill
There was a large attendance OF both
Democrats and Republicans in the
chamber, including the leaders Of both
Sides He said In part:
THE truth about the situation is thna
the money in this country is not equi-
tably and fairly distributed and thar
II Is concentrated at points that dolni-
nate the banking interests of the land
that the people who need tho money
ana the agricultural sectionc Of the
country and the country BANKS and thc
country towns and mercantile and
farming interests and honest business
enterprises, are all unable to procure
il when the necessity arises for It's
use. and arc all sacrificed to graLry
and appea.se the demands that are con-
centrated around the financial centrs
of the country. We will never have any
permanent relief until we strike at tie
root of the evil and reform our entire
banking system from its foundations
in the interest of the American people
against the special interests
OPPOSES CENTRAL BANK.
While opposing the Aldrich BIDS Mr..
Raynor went on record also against a
credit currency, an asset currency ana
Il central bank OF issue. The great
trouble with the pending bill is with
the reserves. he said. and he declared
that the law regulating them Is simply
a disguised and stupendous deception
and fraud" He said that the reserves
scherne as now operated works dlshon-
estly and disastrously upon the rlsnts
OF the American people and the deposits
of money in county banks with the jug
CLING that finally carries IL to the re-
| serve cities contributes to make the
! worst system in the civilized world
| Mr. Raynor asserted that the absence
| OF a provision correcting the evils
pointed out in the reserve system
amounts to a disfiguration of the Aid
rich bill and that the measure IN us
present form will work more ef tive
IL in the interest of large dividends to
tho stockholders of national banks than
IL does In the interests of the American
people
AsSAILS PRESIDENTS POSITION.
"And now I say with great Difference
and respect both for the office ana Tor
sts occupant, that the president OF me
united states has also with the best
Intentions unconsciously contributed TO
the misfortunes that have overtaken us.
h unite with him in the warfare that
he Is wag1ng against the vlolators OF
the law and the oppressors OF the peo-
ple. He cannot be too severe tor me
I'm his arraignments of their ubiquitous
practises. When. 1t comes TO the stand
ard OIL company and other kindred al
ltances no man In this chamber would
20 TO n greater length than am wiling
10 20 in driving them II possible from
the face Of the earth. ] know that
their path has been path OF desola-
ton. know that they have swept
down upon competition like cormor-
ant upon it's prey, and nave ouilt theiI
thrones upon the wants Of penury ana
the toll OF unrequited labor.
MONOPOLY THE CURSE.
.AdonopoIy is the curse of this coun-
try and take up my line OF march as
] have always done with the attaching
party that viii eventually level IT to
the earth and remove from IT'S deadly
t,rasp the honest business enterprises
of tho land and the PROSTATE right OF
the American people. / differ however.
with the president in his method of as
saalt
''Maletactors should receive penal
punishment and whole generation OF
Innocent people ought not 10 suffer for
the sins of their oppressors. One day
OF imprisonment would do the work
better than all the heaviest fines that
can be levied upon the institutions they
represent / differ with the president
In his remedies because he has sug-
gested one after another utterly impos-
sible Of accomplishment by the federal
government. The diagnosis OF the pres
ident Is perfectly correct but in most
OF the Instances he cites his remedies
are either unlawful or impracticable.
From the violent fervor Of his utter
nnces there Is an idea running through
the public mind that no has come 10
the conclusion that every man engaged
IN large business enterprise is a male
factor. and that every good citizen OF
the land ought 10 spend at least one
term In the penltentiary."