The Plymouth tribune. (Plymouth, Ind.) 1901-1911, 1910-02-24

ent in the law to assure its constitutions
atty. II the law provided that the truss
tees I" be appointed under the law could
meet the financial rXISencieS of the GOV
ernments by purchases or redemption Of
the governments per cent and other
bonds. the measure would certainly be
within tlS federal power because the
postal banks would then clearly be an
instrument of the national government
in borrowing money We have now about
500 900 of the ; per cent bonds with
respect To which we owe a duty to the
owners TO see that those bonds may be
talSen care of without consideration below
par value therefor because they were
forced upon national banks at this low
rate in order that the banks might have
a basis OF circulation. This implied 0bli-
cations of the government. the postal say
inss bank fund would easily enable ii to
meet.
Secondly. If the funds are to be arbi-
trarily deposited IN all banks and a panic
We're TO come il 5 difficult TO see how the
government could meet its OBLIGATIONS TO
its postal savings bank depositors be-
cause with every bank suspending pay
rnent funds of the postal savings banks
would be beyond the control of the gov
eminent and We should have a financial
disaster greater than any panic we have
heretofore met y provision that. when
the mpney is not needed to invest in gov
ernmept bonds or TO redeem the same il
may be deposited i'm national banks in
will avoid the great danger of a panic and
will strengthen banking system which
is an arm of the federal government.
i sincerely hope that before the meas
ure Is hammered into its final shape IL
may take on these characteristics which
shall give il a constitutional validity and
sound financial strength and usefulness
Those who insist upon the elimination of
these two necessary characteristics Of the
bili will put the party i'm the position
81. hos
is not in good faith in seeking the pass
age of the postal savings bank act and
Is not seeking therefore to comply with
the promise of the Republican platform
in that regard
Carry Out Pledges.
Concerning the Republican partv's eff
forts to carry out its promises with re-
gard TO railroad rates. rebates and dis
elimination. the President said:
n bill TO carry out these declarations
tthe Platform pledges) has been intro
duced in both the house and the Senate
and is now being consider ed before the
appropriate committees of these two bod
les and there is every hope that the bills
thus introduced will pass Indeed this
railroad measure goes further than the
promises of the platform. Tor while il
subjects the issue of stocks and bonds to
the restrictive supervision of the commits
sion and prevents future watering of Sc
curities and forbids the acquisition by
ing line: Ii also puts very much more
power into the hands of the commission
for the regulation of rates and il facili-
tates in every way the ease of super
vision by the commission of the railroads
to secure compliance by the railroad
with the rights of the public and the
shipper"
In the matter of Republican platform
utterances regarding the issuance of in
functions by the federal courts. the Pres
idlent said:
"A bill to carry out exactly this prom
Use has been introduced into both the SEN
ate and the House and will doubtless
come up for consideration and passa ge.
The bill does not go as far as Mr. Com
pers and the American Federation of
Labor demand but it goes as far as the
Republican convention was willing 10 let
II go. and ii is so drawn as to make an
abuse of the issuance of injunctions with
out notice very improbable
The platform also promised statehood
TO Arizona and New Mexico and the bill
providing such statehood has passed the
House and has been favorably considered
by the committee of the Senate. so that
there seems to he no rea sonable doubt
that this promise will be fully kept"
Mr.. Taft expressed his belief that the
Republican platform pledges regarding
conservation of natural resources would
be kept.
Measures for the conservation of the
classification of lands according To their
greatest utility and the vesting OF power
in the executive TO dispose of coal phos-
phate oil and mineral lands and of water
power sites in such a way as TO prevent
heir monopoly and union of ownership
n one syndicate have been introduced
nd will doubtless be made into law.
The subject has attracted the widest in
terSst and it's Importance is being more
and more impressed upon the Anne rican
public"