New-York tribune., 1909-09-18
PLEA FOR POSTAL BANK
MR. TAFT AT MILWAUKEE.
Says Plank IN Platform Binds Every
Republican to Project.

Milwaukee. Sept. 17.-President Taft devoted his
principal address IN Milwaukee. at the state fair
to-day 10 subject OF postal savings banks which
no strongly indorsed before large and enthusiastic
gathering that overhowed the grandstand. Presi-
dent Taft said that the postal savings hank plank
in the Republican platform bound everybody who
calls himself Republican.
IF they do not like plank in a platform. said
MF Taft cor IL they do not like the platform itself
they cease 10 be Republicans or they are Republl-
cans with an exception. and that indicates
free. enlightened and discriminating people. But
I here uphold the doctrine OF the postal saw
ngs banks Iappiausel because believe that they
will hll IN this country a long felt want. In the
first place. Il IL said the postal savings bank ts q
very paternal institution; that II has leaning
toward socialism. state socialism and that IL pro-
poses take the banking business out OF the hands
Of private persons and put into those OF the gov
ernment No. am not paternalist and am not
a socialist, and ] not IN favor OF having the
government do anything that private citizens can
do as well better gTeat applause. but there are
conditions. We have passed beyond the tide OF
what they call the laissez faire school,. which be-
leved the eovernment ought 90 do nothing but
the police force; and recognize the necessity
for the interference OF the government because II
has great capital and great resources behind IT, and
because sometimes n stand the lack OF an I'm
mediate return on capital help out. We did II IN
Pacihhc roads We have done IL IN a great
many different WAYS and ins this particular postal
savings bank business the government is especially
fitted to do what system OF private bankers can
do. tApplause.)
GREAT ENCOURAGEMENT TO THRIFT
THE great usefulness Of the postal savings bank
is the great agement TO thrift the part of
those who lust wavering In the balance whether
they shall save money or use IT, because they do
not know where they put II safely" CAP
pIause)
President Taft read a list of the countries that
have postal savings banks. citing Canada particu-
Iarly.
canada has the savings bank postal savings
bank he said and what Is the result along the
border up in the Northwest? You find Americans
going 10 the border and making deposits I'm those
savings banks. Why? Because they have got the
guarantee OF the Canadian government"
The President said that the government had is
sued upward of s7Oo.OOO6OO of 2 per cent bonds Of
the United States and oated them at par. at p4rA
cent little "But did II by getting
the banks into a they had to have, under
tho law. some government security. and so they
were obliged to buy those per cent bonds" he
said.
In closing. President Taft said:
I'VE are looking forward. hope with confidence.
10 n readjustment of our whole financial system
and banking system: certainly IL needs it, ana IL
has been suggested that the savings bank might
we'll await that. I am bound TO say I do not see
the necessity for uniting them together. II seems
TO me that one system can stand by itself. and IL
we adopt the savings bank they will easily be
those savings banks will furnish Sc0Oo0Oo0
s0O.OooOoO. and that is a very tidy pile to have
around for the government TO Iegitimately in
order 10 carry any financial operation"
AS preliminary to his more serious remarks the
President said he always felt at a loss in facing an
audience OF farmers.
Il am city bred" he went on. land. while the
spirit would be willing. must admit / couldn't
milk a cow"
PRESIDENT GREETs LA TOILETTE.
At the fair grounds the Presidents marty. which
had included United States Senator Isaac 81 4hen-
son. Joined by Senator Robert NJ La Toilette
The greeting of the President TO the Senator was
most cordial The great grandstand was flled and
as the Presidents automobile drew UP in front OF
the racetrack there resOundng cheer Mr.
Taft witnessed n parade Of the livestock exhibit
at the fair before beginning his open air address
The Presidents special train left here for La
Crosse over the Chicago. Milwaukee & ST Paul
Railroad at 11:aO a.
On the original itinerary of his trim President
Taft was TO have spent this morning In Madison.
the home OF Senator La Toilette. but these plans
were changed and Milwaukee substituted
The Presidents train arrived here at g a. m
after a slow run of three hours from Chicago
Secretary DickinSon, who had some department
questions to take up with the President was ex-
peeted TO como along. but after spending an hour
and half on the train I'm Chicago he had obtained
action on all tbs matters he had in hand at mid
night and decided not 70 make this portion of the
trip. The Secretary viii join the President at FL
Paso. Tex, on October Is.
Mr.. TAFT slept until o'clock this morning and
then took breakfast his car. which had been
placed In the Yards at Wisconsin street The
crowd had begun to gather near the train as early