The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1909-01-03

| cial paper and other assets are to be de-
| posited A tax is imposed upon the cur
| rency to insure its retirement at the end
| of the stringency period. A national
| monetary commission is created, consist
! ing of nine senators and nine representa-
! tives to report to Congress what
| changes are necessary or desirable in the
| monetary system of the United States or
| in the laws relating to banking and cur
| rency."
immigration has long been fairly true
| barometer of financial conditions. In
| March the tide to Europe was three
| times greater than from across the At
| lantic hither, a condition almost exactly
| the reverse of the proceeding year for the
same time. For example, in the first
ten weeks of 1907, 139,052 aliens arrived
| here from Europe and 1852 departed.
| During the same period this year, the
| arrivals were 44,712 and the departure
| 1871 74O. With the gradual restoration of
| confidence, however, and the awaken
! ing of industry this exodus fell off slow
I ly, so that in September arrivals began
| to exceed departures.
Following the election of William Fl.
| Taft to the presidency reports from all
| parts Of the country testified to enlarg-
| ing business and increasing industry
For example, the thread mills of New
| Jersey were again operated full time.
| Wages were increased 20 per cent In
| many Pittsburg factories. Orders for
| steel rails were more than doubled. The
/ Mississippi and Louisiana cotton mills in
| creased wages and began to operate full
| time.
Abundant crops also assisted in bring
ing better times. The yield of wheat
was per cent greater than that of 1907
while cotton was SA per cent better off
For the reason that the panic exposed
| the wantonness with which certain thigh
financiers" have juggled the peoples
| savings to their own vast profit, the arm
of the law was extended after several
| gentlemen who until the crash were
spoken of as veritable kings in the bus
| mess world.
Charles w. Morse, the "ex-ice king"
| for example, was sentenced to 10 years
Imprisonment for manipulating the funds
| of the National Bank of North America,
| whose books were closed last year at the
height of the panic. Alfred Fl. Curtis
it's president, was likewise convicted.
| sentence being suspended on the ground
/ that he was Morse's tool. F. Augustus
Heinze, once known nationally as a cop
per king, was indicted for similar prac-
| tees in the Mercantile National bank. of
| which he was president. e. r. Thomas,
| an associate of Heinze and Morse, was
| also indicted. In Chicago John r. Walsh
| was found guilty of misapp1ying the
| funds of the Chicago National bank.
Few presidential campaigns have de-
| veloped so little uncertainty as to who
| should lead the two great parties, and
| which candidate should be elected. At
| the very beginning William II. Taft,
| having behind him the support of the
chief executive, appeared as the only
republican possibility" In like manner,
Bryan dominated the democratic party.
/ Taft was nominated on June IS, in Chi
cago. On the first ballot he obtained 702
votes out of the total of $50. Hughes,
Knox, Fairbanks, Cannon and La Fol-
| lette received the votes of their respec-
| tive states. James s. Sherman OF Utica,
| N. Y, was nominated for the vice pres
i idency, obtaining SIG on the first ballot
| Mr. Sherman in 1884 was mayor of Utica,
| and since 1886 he has served his district
| as a congressman, with the exception of
one term.
! William Jennings Bryan was nomi-
| mated the third time by the democrats as
| their standard bearer at the Denver con-
| vention on July 10. Bryan had nine-tenths
of the votes on the first ballot, Judge
| Gray of Delaware and Governor John
| son of Minnesota, receiving even less
| support than the "alSo rams Of the re-
| publican convention. John W. Kern Of
| Indiana was nominated for vice president
Labor was a more prominent factor in
the ensuing campaign than ever before
in a presidential contest because of
| Bryan's ability to incorporate in the
| democratic platform the now famous
! antf-injunction plank which President
| Gompers of the American Federation of
| Labor wanted. Yet the appeals of Mr..
/ Gompers to labor to support the demo-
cratic ticket did not seem to have helped
much on election day. Mr.. Gompers had
] said that he would influence 100000
| votes. AS a matter of fact Bryan ran
behind Parker in eastern labor union
| cities, like New York Boston and Bal
| timore, and with only slight gains In
| western Industrial centers like Chicago
| Cleveland, st. Louis and Minneapolis
| The campaign showed conclusively that
| worlSingmen prefer to vote according to
/ their own individual convictions.
| Another plank in the democratic plat
| form. which republican say cut down
| the Bryan vote in eastern industrial CEN
| ters, advocated the guarantee of bank
/ deposits. Oklahoma has a law to this
| effect. which is said to have proved sat
/ isfactory. At various bankers conven-
tons, however, the proposition as ma
| tional reform was almost unanimously
| condemned.
Taft was elected on November by an
| overwhelming majority, obtaining 321
| electoral votes. Bryan got 1862. The pop
| ular plurality of the republican candi-
date was 1852, 200. Bryan ran behind his
| ticket in most states with the result that
| five elected democratic governors. al
| though giving their electoral votes to
| Taft These five governors are John A.
/ Johnson of Minnesota, Judson Harmon
of Ohio, Thomas R. Marshall of In
diana, Edwin Norris of Montana and
| John Burke of North Dakota. Other
| democratic governors elected are John
F. Shafroth of Colorado, Albert w. Gil.
| christ of Florida, Ashton c. Shallen.
berger Of Nebraska. w. w. Kitchen of
| North Carolina, Martin F. Ansel of South
Carolina, Malcolm r. Patterson of Ten
nessee and Thomas M. Campbell of
| Texas.
Republican governors elected are
George r. I.illey of Connecticut, Simeon
S. Penniwell of Delaware, James TT.
Brady of Idaho, Charles s. Deneen of
| Illinois, B. F. Carroll of Iowa, Walter r.
| Stubs of Kansas, Eben S. Draper of
Massachusetts, Fred NJ Warner of Mich
igan, Herbert s. Hadley Of Missouri,
| Henry B. Quinby of New Hampshire,
! Charles E. Hughes of New York Aram
| ]. Pothier of Rhode Island, Robert 8.
| vessey of Sonth Dakota. William Spry
| of Utah, Sampel G. Cosgrove of Wash
i ipgton. William f. Glassock of West vir-
ginia and James O. Davidson of Wis
consin.
| The racetrack and allied interests tried
| hard to defeat Hughes for governor of