The citizen. [volume] (Berea, Ky.) 1899-1958, 1908-01-16
POLITICAL NOTES
Taft Getting Stronger all the Time-
Foraker Shows White Feather
Congress to Work on Financial
Bills.

II Inc last week has seen further
strengthening of Secretary Taft's
boom for the presidency This was.
largely due to fine speech he made
In New York. where he went carefully
Int the laber union question and
showed clearly the justice of his
views on it, The speech will make him
stronger. with all those iaboring men
who are thoughtful enough to recog-
nize that there are others than them
selves who have rights.
The Secretary said that the lab
oring man was not only right
in organizing, but that the labor
union was blessing to the country
and a protection to its members. He
said the union had come to stay ana
would fill large place in our future
development, but that there had been
false leaders who had poisoned the
minds of the workmen against capital.
There was no reason for any conflict
between the two he said, and capital
used to produce more wealth was
labors' best friend. His whole address
showed confidence in both sides of our
American life and helped his candi--
dacy greatly.
His opponent, meanwhile. has re-
fused to abide by the rules he himself
laid down, and has gone back on the
challenge he issued last year. he
then dared Taft to leave his candidacy
to the people of Ohio. Taft's friends
IN the Ohio machine responded bv
making plans for a primary that
would give the voters a real chance
to choose. Foraker seems to have
learned what the voters wanted for
he is fighting this. and trying to have
primaries which will give all the adj
vantage to the machine he controls.
and leave the voters out. He has
started fight in the courts in Cleve-
land and will do so elsewhere.
In Washington there have been only
two things of interest-the reconcil-
iation Of Messrs. DeArmond and John
Sharp Williams and the financial bills
There have been several of these, and
there is almost certain to be a fight
between the House and Senate on the
subject Probably the Senate will win
or there will be no legislation.
The Senate will probably adopt the
plan presented by Senator Aldrich.
who is related by marriage to John
d. Rockefeller, and has long been
known as the greatest defender of law
breaking corporations and unfair bust
ness methods. His plan provides for
the issuing of money by the Comp
trolier of the Currency when he
thinks the country needs IT, This
"ou'd leave enc man with great
power, and make it possible for the
people that could influence him to.
have the conditions of the money mar
kets IN the country at any time such
as would suit them best There have
long been rumors that certain friends
of Mr.. Aldrich had a good deal of in
fluence with the Treasury officials.
and this would be fine thing for
them If that is So
The bill which will probably pass the
House calls for a much more thore
reform OF our business methods and on
its face seems better. Il has been
prepared by Congressman Fowler, and
provides as follows:
First--A uniform banking system.
Second-Uniform bank reserves con-
sisting of gold cola or its equivalent.
Third--A simple and scientific NOM
ey system, consisting of only three
forms of currency-gold for bank re-
serves, bank credit notes redeemable in
gold for the larger bills. and silver for
the smaller bills and subsidiary coins.
Fourth-A currency automatically
adjusting itself to the demands of
trade; never too great. never too
small, but always just equal to the
need.
Fifth-Equal and absolute protec-
ton to all depositors IN national
banks by placing in the United States
Treasury guaranty fund which by
January, 1909. ought to approximate
$500 ,Oo0, 900.
Sixth-The establishment of certain
rules whereby the financial operations
of the Treasury shall be so condue-
ted that the Government will cease to
be disturbing factor in trade and
commerce.
There will be long fights in both
houses on these bills, and both may
be a good deal changed by the time
they are passed. The case is one Tor
experts. and a man not carefully
trained in business win be unable to
tell much about whether the laws Do
posed are good or bad tin the e.
rssts have spolssn.
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