The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1912-07-11

sponsor Tor the new navy, VIII con-
tinue faithfully to observe the con-
stitutional requirements to provide
and maintain an adequate and we'll
proportional navy sufficient to defend
American politics, protect our citt
zens and uphold che honor and dig
nifty of the nation.
Republican Extravaganza.
We denounce the profligate waste
of the money wrung from the people
by oppressive taxation through the
lavish appropriations OF eccentric Re-
publican congresses, which have kept
taxes high and reduced the purchas-
ing power Of the peoples toll. We
demand a return to that simplicity
and economy which BELTS a Demo
cratic government and q reduction
in the number Of useless Offices, the
salaries Of which drain the substance
Of the people
Railroads, Express Companies, TsIe-
graph and Telephone Limos.
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 recon-
mend the valuation of railroads, ex-
press companies, telegraph and tele-
phone lines by the Interstate Com
merce commission, 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; of leg
islation 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 serv-
ice, or do injustice to legitimate in
vestments.
Banking Legislation.
We oppose the so-called Aldrich bill
of the establishment Of central
bank, and we believe the people of the
country will be largely freed from
panics and consequent unemployment
and business depression by such a
systematic revision of our banking
laws as will render temporary relief
in localities where such relief Is need
ed, with protection from control or
dominion by what is known as the
money trust. Banks exist for the &C.
commodation Of the public and not
for the control of business. All legis-
lation on the subject of banking and
currency should have for It's purpose
the securing Of these accommodations
on terms of absolute security to the
public and of complete protection
from the misuse of the power that
wealth gives to those who Oossess it.
We condemn the present method Of
depositing government funds in few
favored banks, largely situated or
controlled by Wall street in return for
political favors. and we pledge our
party to provide bylaws for their de-
post by competitive bidding, the
banking institutions of the country,
national and state, without discrimin-
alton as to locality, upon approved
securities and subject to call by the
government.
Rural Credits.
OF equal Importance with the ques-
ton of currency reform Is the ques-
ton of rural credits or agricultural
finance. Therefore we recommend
that an investigation of agricultural
credit societies in foreign countries
be made so that it may be ascertained
whether system Of rural credits
may be devised suitable to conditions
in the United States, and we also
favor legislation permitting national
banks to loan reasonable proportion
of their funds on real estate security.
We recognize the value Of vocation
al education and urge federal appro-
priations for such training and exten.
sion teaching in agricultural co-opera-
ton with the several states.
Waterways.
We renew the declaration in our
last platform relating to the conserva-
ton Of our national resources and the
development of our waterways. The
present devastation Of the lower Mis-
sssippi valley accentuates the move
ment for the regulation of river flow
by additional bank and levee protec.
tion below, and the diversion, storage
and control Of the flood waters above
and their utilization for beneficial
purposes In the reclamation OF arid
and swamp lands and the develop
ment Of water power, instead Of per-
hitting the floods to continue as here
tofore, agents of destruction.
We hold that the control of the
Mississippi River is national prob
lem. The preservation Of the depths
of its waters for the purpose OF navi-
cation; the building of levees to main
tain the integrity of its channel, and
the prevention of the overflow OF the
land and its consequent devastation,
resulting in the interruption Of inter
state commerce, the Reorganization
of the mail service and the enormous
loss of life and property impose an
obligation which alone can be dis
charged by the general government.
To maintain an adequate depth Of
water the entire year and thereby en-
courage water transportation Is a con-
summation worthy of legislative at
tentlon and presents an issue national
in its character. 1t calls for prompt