The Washington herald., 1911-09-03

commercial regulations The shadow of
Roosevelt. as see political conditions
and the quality of the leaders now in
command Of a very large division in the
Republican party, remove all doubts as
to the election of 1872"
"On what issue will the Democrats
emphasize their efforts?"
''The tariff. I have said that no or
ganiZation Is so cohesive, enthusiastic,
and potential as the Democratic party
when 1t Is united. 1t was united in 1892,
but when Mr.. Cleveland refused to sign
the Wilson-Gorman bin, on the ground
that II was filed with perady and dis
honor, the party went to pieces. 1 often
bear Republicans say that President
Taft should have vetoed the Payne
Aldrich bill. In that event, 1t is asserted,
he would have become stronger before
the people than is Col. Roosevelt. With
that prophecy disagree; he would have
wrecked his party, just as Cleveland did.
so we came to 1896. We hadn't an
issue, and grabbed free silver, simply
that we might keep together and have
a raIlying cry. Mr.. Bryan's election was
impossible then. and also in 1900, when
Imperialism was said to be the para
mount issue. / told him in 1905 that he
wouldn't stand still long enough to let
US argue his case and submit It to the
country. He had returned from his Jour-
ney around the world with a good
chance. Coping ashore IN New York, he
ostentatiousIy announced that he be-
lSeTed In the public ownership Of rail-
roads. His opportunity was utterly de-
strOyed by that unwise statement.
Tells About the Power Of Money.
Now. in 1911, we are back again to
-. .NN -
lon But there Il another pressing ques-
tSon-I think Il q tremendous question
namely, the power Of money. We per-
sonaIize the money power. and instantly
call TO mind three or four great charac-
ters IN modern finance. I prefer to trans
pose the words and depersonaIize the Is
sue. Into II comes the cost OF living.
Every one can think OF that phase Of
the subject by his own methodS, using
the facts Of his own experience. know
that a year ago men who were earning
$50 to SO a month ran behind while try
ing to support their families. Condi-
tions are a little better now. Brought
down TO = finalIty, dear living is caused
by the power Of money. Reflection will
show that 1 am right.
But I want to speak more largely
and specifically. If John Smith, pros
pecting around, should find a mountain
of iron ore, a mountain of limestone,
and a mountain of coking coal, all con-
tIguous and near q railroad, II would
be natural for him to take the news of
his discovery to New York, the money
center of the nation. Going to the
largest bank, he would tell his story.
The president would listen eagerly and
then refuse him help, because a certain
person is a member, him
self or by proxy. of the banks direc-
tory.
Then John Smith would 20 to the
second largest bank and be turned
down because another conspicuous per-
son is a member, himself or by proxy,
of its directory. Both of the conspic-
Uous persons, you understand, are con-
nected with the United States Steel
Corporation. Needing SS,0O0,Oeo, per-
haps, John Smith would walk New
York up and down and not get a
penny.
"As with iron, so with oil. 1 may
sink half a dozen wells at a heavy
outlay. They come in, let us say,
with an average of 100 barrels a day.
After a year or two they settle down