The Denison review. [volume] (Denison, Iowa) 1867-current, 1910-06-29

play 1s beyond him, and 1t may be
true that fair play is not always &C.
corded him. OF all men, however. he
should be the lasI to whine. Sioux
City Journal.
IOWA AND POSTAL BANKS.
The action Of the Iowa senator's In
voting against the postal savings bill
offers another indication OF their des
termination to pursue course Of I'M.
compromising. irreconcillable insurg-
ency. There was no reason why they
could not have voted for this com
promise bill as readily as they voted
for the interstate commerce compro-
mise. There were some good reasons
why they should have voted for 1t,
even II they had to accept some fea-
lures under protest.
The bill that was accepted by, the
senate on Wednesday was drafted In
Republican house caucus. The house
republicans were decidedly at variance
as to details when the caucus met, but
they compromised the differences one
by one. The features for which Senator
Cummins fought into the last ditch,
were considered in the caucus and
compromised fairly. When the work
Of the caucus was done, all the house
insurgents ncluding Representative
Hubbard agreed that It was good
enough to command their votes. The
house republicans were unanimous in
supporting 1t on the final roll call. 1t
was strictly a party message as far as
the house could make it so. 1t was
better all around bill than the senate
measure. 1t would have been only
common courtesy on the part Of the
senate insurgents to accept the judg-
ment Of their brethren In the house.
In fact, most OF them did SO, the roll
call showing only Bristow, Cummins
and La Toilette voting against 1t, with
Dolliyer paired against 1t. In opposing
1.-THE responsibility, Of course, will
lodge mainly on the junior senate
the Iowa senators cut loose not only
from their party. but from q majority
Of their faction. including their Iowa
assoc iates in the lower house. The In
dicationa is that the Iowa senators are
not satisfied with q progressive role;
that nothing less than downright anti
Taft, anti-republican insurgency viii
suit them. IS u
The compromise bill makeS con.
|servative start toward establishing
system of postal savings banks. Banks
are to be established In the discretion
of the board OF trustees. The pre-
sumption is that the board at the out
set will favor localities from which the
demand for postal banks ID. most II.
sistent, passing by localities which
show either lack Of interest or opposi.
ton. II there is reason to doubt the
success of the experiment It can be
extended gradually, as rural delivery
was, until success has become Ger.
tainty. II experience discloses faults
in the law as at present framed, they
can be corrected by congress as soon
as they become apparent. There is no
adequate reason why any frisnd Of
the postal savings principle should
vote against giving 1t tentative ap.
plication as planned.
Under the law as adopted, q consid.
cradle portion Of the postal deposits
will be available at all times for in
vestment in government securities.
and in case Of emergency all Of them
may be used for that purpose. This is
the investment principle of postal
banks everywhere in the world where
they are now in successful operation.
Senator Cummins and others did some
heroic grandstanding to have all the
deposits left in local banks to keep
them away from Wall Street. This
was economic piffie. Even If the law
provided that every penny be kept on
deposit in the local banks, the money
would find It's way to- Wall Street
whenever Wall Street wanted it badly
enough to bid high for it. When mon
ey Is needed urgently in Wall Street
or anywhere else it flows there just
as naturally as water flows down hill.
Sioux City Journal.
TWO NEW STATES.
When President Taft on Monday at.
liked his signature to the statehood
bill, Arizona and New Mexico took the
first step along the straight road to
statehood. When the still, somewhat