The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1912-07-21

TELEPHONE LINES.
We favor the efficient supervision
and rate regulation of railroads ex-
press companies, telegraph and tele-
phone lines engaged in interstate
commerce. To this end we recommend
the valuation of railroads, express
companies, telegraph and telephone
lines by the interstate commerce com
mission, such valuation to take into
consideration the physical value of the
property, the original cost, the cost of
reproduction, and any element of
value that will render the valuation
fair and just
We favor such legislation as will
effectually prohibit the railroads. ex-
press, telegraph and telephone COM
panies from engaging in business
which brings them into competition
with their shippers or patrons; also
legislation preventing the overissue of
stocks and bonds by interstate rail-
roads, express companies, telegraph
and telephone lines, and legislation
which will assure such reduction in
transportation rates as conditions will
permit, care being taken to avoid re-
duction that would compel a reduc-
ton Of wages, prevent adequate SER
vice or do injustice to legitimate in
vestments.
BANKING LEGISLATION.
We oppose the so-called Aldrich bill
or the establishment of a central bank
and we believe the people of the coun-
try will be largely freed from panics
and consequent unemployment and
business depression by such a sys-
tematic revision of our banking laws
as will render temporary relief in To-
calities where such relief is needed,
with protection from control or domi-
nation by what is known as the money
| trust
Banks exist for the accommodation
of the public and not for the control
| of business. All legislation on the
| subject OF banking and currency
I should have for its purpose the secur-
ing OF these accommodations on terms
, of absolute security to the public and
of complete protection from the mis-
use of the power that wealth gives to
those who possess it.
! We condemn the present methods of
| depositing government funds in a few
/ favored banks, largely situated in or
. controlled by Wall street, in return
| for political favors, and we pledge our
/ party to provide by law for their de-
! posit by competitive bidding in the
: banking institutions of the country,
patlonal and state, without dis
| elimination as to locality upon ap-
| proved securities and subject to call
! by the government.
RURAL CREDITS.
Of equal Importance with the oues
ton of currency reform is the cues
ton of rural credits or agricuItural
| finance. Therefore we recommend
that an investigation of agricultural
credit societies IN foreign countries be
made so that it may be ascertafned
whether a system Of rural credits
may be devised suitable to conditions
| In the United States; and we also ia
vor legislation permitting national
banks to lend a reasonable proportion
or their funds on real estate security
We recognize the value of vocational
education and urge federal appropria.-
tons for such training and extension
teaching in agriculture in CO. operation
with the several states
WATERWAYS.
We renew the declaration in our last
platform relating to the conserva tor
| OF our natural resources and the de.
| Velopment of our WATERWAYS. The
present devasta ton of the lower Mis-.
| s1sslpp1 valley accentuates the move.
| ment for the regulation of river flow
by additional bank and levee protec.
ton below the diversion, storage and
control of the flood waters above and
their utilization for beneficial purposes
in the reclamation of arid and swamr
! lands and the development of water
power instead of permitting the food,
to continue, as heretofore, agents OF
| destru elton.
We hold that the control of the Mis-.
| sissippi river is a national problem
The preservation of the depth of it.
water for the purpose of navigation
| the building of levees to maintain thc
integrity of it's channel and the pre-.
| venuon of the overflow of the lanC
and its consequent destruction, result.
| ing in interruption Of interstate com.
merce, the DISCRIMINATION of mail ser.
vice and the enormous loss Of life anC
| property impose an obligation which
alone can be discharged by the gen.
eral government.
To maintain an adequate depth o.
water the entire year and thereby en-.
courage water transportation, is g con,
summation worthy of legislative atten.
ton and an issue national in it's char,
acter. 1t calls for prompt action OF
the part of congress and the Demo
cratic party pledges itself to the en-,
actment of legislation leading to tina
end.
We favor the cooperation of tn,
United States and the respective state,
in plans for the comprehensive treat
| ment of all waterways, with a view o
| o-ordinating plans for channel i'm
provement with plans for drainage o
| swamp and overlooked lands, and t
this end we favor the appropriation b.
| the federal government of suff1cien
funds to make surveys of such lands
to develop plans for draining the SAM
and to supervise the work Of construc
ton.
We favor the adoption Of a nbera
| and comprehensive plan for the de
velopment and improvement of our in
land waterways with economy and eff
| fcienCy, SO as to permit their naviga
ton by vessels of standard draft.
POST ROADS.
We favor national aid to state an,
local authorities in the construction
| and maintenance of post roads.
RIGHTS OF LABOR.
We repeat our declaration of tn
platform of 1908 as follows:
The courts of justice are the bull
wark of our liberties and we yield Z
none in our purpose to maintain thei
dignity. Our party has given to tn
bench a long line OF distinguished jus
I tees who have added TO the respec
and confidence in which this depart
ment must be jealousy maintained
! We resent the attempt of the Repub
: lican party to raise a false issue re
? specting the Judiciary It is an unjus
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