Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1910-08-03

repositories, the discretion to designate
such postoffices as 1t sees fit This
discretion will be never ending irri.
tation. It goes without saying that thu
banks In any community will not favor
the designation Of the postoffice in that
community as depository. 1t win b.
natural for the banks to resist, because
the repositories are. in sense. com.
petitors in business. Therefore, thu
board will be from the beginning thu
focal point Of all the political influence
that the banks can arouse and direct.
The law should be amended so that
repositories arc selected by some stand
ard, either OF population or Of busi-
ness, which could be applied infexibly
to the whole country.
Second, the most serious objection to
the law will be found in the disposition
of the money after at is gathered at the
postoffices. Until few weeks before
the bill passed 1t had never been sug-
gested that the money so taken in at
the postofice was, under any circum-
stances, to be removed from the COM
munities in which it was gathered, ex-.
cept as 1t went out under the ordinary
laws Of commerce and trade.
The subject has been considered by
more than one postmaster general, bills
had been introduced, and reports made
by com mittees, but it had never been
intimated that it would be wise to with
draw these funds from the locality OF
the postoffice and invest them in gov
eminent bonds. Our platform was
bottomed upon the fundamental idea
that the money put in the postonices
should not be withdrawn by the gov
ernment from that community.
The power of the east over the west
in controlling the supply OF money is
already too great, and what we have
done will add UNNECESSARILY to the east
ern influence.
Protect Country Banks.
In my judgment. il we want to pop
ularize postal savings repositories, and
allow them to fulfill the purpose we
have had in view. we must speedily
amend the law SO that the country
banks will not be injured. and so that
money will be permitted to perform. its
full functions in the localities to which
it naturally flows.
In this connection must be per-
mitted to dwell upon the proposition
for q central bank It will soon be q
live question in American politics, and
1t is high time that republicans should
which in the end settles an public prob
lens. Leaders may fret and fune
about It: committees, and commissions
may sit upon 1t: the Congressional
Record may be filled with pages con-
corning it, but finally the quiet re-
Election of the farm and factory, the
shop and store. the street corner and
the roadside will enter the judgment.
The proposal has not yet taken defin-
lite form, but 1t Is in the air that q
central bank shall be established. with
the sole power Of issuing paper money
and Of determining therefore, how much
money at any given time we shall have,
and how It shall be distributed.
do not say that viii oppose
central bank, but DO say that will
oppose any bank with the powers that
IL have described, for II that misfor-
tune should befal1 us we would suffer
financial slavery more complete even
than the Industrial servitude which
now afiicts us.
In the consolidation Of the great
banks now in progress We SEQ the prep
aratdon for such q condition Already
a dozen men. or less. can exert an IN
fiuence which makes the country trem-
BILE in apprehension Of their mighty
strength, and IL we permit them to en-
large their authority We will richly de-
serve the subtugation which viii fol-
low.
Little Conflict Of Opinion.
You will bear mo witness that nave
not attempted to evade or obscure the
differences that have developed
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