The Churchill county standard. (Fallon, Nev.) 1908-1920, 1911-03-29
HEW'LIAADS' Recommendation
Proposes Innovations That Will
Unity Democratic Party And
Serve Peoples Interests.

One of the recognized Democratic
leaders, Senator Francis G.. Newlands,
of Nevada, has written letter to
Champ Clark in which he outlines a
program for Democratic action. 1t
has been practically certain, says
Senator Newlands, that in addition to
reciprocity, Congress will take up the
tariff also. The Senate will probably
follow the lead of the House with re-
gard to the selection of the committee
to consider reform and constructive
legislation. 1t is incumbent on the
Democrats to Indicate deeisively to the
country what the party proposes to do
if it should be entrusted with power
in 1912. He says;
1.-THE voters in the next campaign
will rely more on our performances
than upon our promises, and we
should, therefore, during the extra
session and the next session crystallize
into legislation Sc far as we can the
pledges we have made in our platform. "
The Senator recommends adjust
ment of the trust and banking ques-
tions by national commissions in the
same way that the railroad question
has been handled. He believes in ap-
pointing budget committee to CO.
operate with the committee on expen-
ditures in the Senate and the economic
commission appointed by the Presi-
dent, and the reduction of the military
and naval expense to 500, 600, 000
annually for the Army and similar
sum for the Navy, with the creation
of merchant marine to be an auxil-
liary to the Navy in time of war, and
free entry to American registry for all
ships, wherever built; for conservation
and the development of internal water
ways; in the independence of the
Philippines when those islands are
able TO maintain stable government;
for their naturalization, and In throw
ing open their trade to all countries.
Senator Newlands remarks that the
transportation question may be re-
garded as adjusted so far as legislation
is concerned, except the physical
valuation of railroads aud the regula
tion of stock and bond issues. He
recommends the organization of
national holding companies, in which
all the States can participate.
In contrast with the work of the
Interstate Commerce Commission,
Senator Newlands finds that the en-
forcement of the Antitrust Act has
been lame and halting, changing with
the shifting incumbents of the Attor-
ney Generals office and according to
the requirements of political exigen.
cies. In consequence there exist over
800 trusts of enormous capitalization,
practically without regulation or con-
troll. The remedy suggested is the
organization of an Interstate Trade
Commission with powers similar to
those of the Interstate Commerce
Commission. Legislation should be
had to restrict the activities of the
trusts, providing for a license system
and requiring uniform prices to all
purchasers.
Interstate exchange or banking, says
Senator Newlands, is as much a part
of interstate commerce as interstate
transportation is. The big New York
banks, he thinks, have forgotten their
true function, that of exchange, and
have been turned over to the aid of
promotion and speculation. The inter-
ests of depositors have not been ade-
auatelv safeguarded. The Senator SAYS
1.-The repeated bank panics with
their attendant breaks in the exchange
/ of commodities between sections, COM
munities, and individuals are as in
tolerable as are the breaks in trans
portation of great interstate railway
systems caused by cutting out sec
ton of track here, or the destruction
of bridge there, or by other obstacles
impeding the movements of trains.
The Senator would compel adequate
capital and reserves and a system OF
mutual protection for relieving EN-
barassng situations. He recommends
the organization of State national re-
serve associations, in each of which al
of the banks of that State should be
stock holders, with note-issuiag func'
tions and emergency circulation, ano
the insurance of deposits. A Nationa
Banking Commission to meet annually
in Washington, its membership partly
appointive and partly elective, is in
cluded in the plan.